On leaving, the country would announce a new policy regime, including inflation-targeting and fiscal rules to show it had not embarked on a free-for-all.

Hyperinflation has always been a traumatic experience for the area which suffers it, and the next policy regime almost always enacts policies to prevent its recurrence.

Different policy regimes do not lead to very different rates.

The term captures the tendency of policy regimes to deal with complexity with delegated system of rules.