Nicholas Krus

Nicholas KrusNicholas Krus is a Senior Director of Marketing at Life House in New York. He has a bachelor’s degree in economics from The Johns Hopkins University in Baltimore, where he worked as a research associate at the Institute for Applied Economics, Global Health Health, and the Study of Business Enterprise and did most of his research for this article. Nick was Prof. Steve Hanke’s chief research assistant at the Institute.

Papers Published in World Economics:

Hyperinflation in the General Government: German-Occupied Poland During World War II

Newly discovered primary data reveals two previously undiscovered episodes of hyperinflation. They occurred in German-occupied Poland from late 1939 to early 1945. Nazi-occupied Poland, a territory then referred to as the General Government, experienced monthly inflation rates of 71.4% in January 1940 and 54.4% in August 1944. Inclusion of the 1940 and 1944 Polish cases of hyperinflation brings the total number of episodes of hyperinflation documented in the Hanke-Krus World Hyperinflation Table to 60. With these newly discovered cases, Poland has experienced more episodes of hyperinflation—four—than any other country in the world.

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