Deflation : current and historical perspectives / edited by Richard C.K. Burdekin, Pierre L. Siklos.
This book was originally published in 2004. Fears of deflation seemed nothing more than a relic of the Great Depression. However, beginning in the 1990s, persistently falling consumer prices have emerged in Japan, China and elsewhere. Deflation is also a distinct possibility in some of the major Eur...
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| Online Access: |
Full Text (via Cambridge) |
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| Other Authors: | , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Cambridge, UK ; New York :
Cambridge University Press,
2004.
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| Series: | Studies in macroeconomic history.
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| Subjects: |
| Summary: | This book was originally published in 2004. Fears of deflation seemed nothing more than a relic of the Great Depression. However, beginning in the 1990s, persistently falling consumer prices have emerged in Japan, China and elsewhere. Deflation is also a distinct possibility in some of the major European area economies, especially Germany, and emerged as a concern of the US Federal Reserve in 2003. Deflation may be worse than inflation not only because the real burden of debt rises but also because firms would confront rising real wages in a world where nominal wage rigidity prevails. This volume explores some key themes regarding deflation including: (i) how economic agents and policy makers have responded to deflation, (ii) the links between monetary policy, goods price movements, and asset price movements, (iii) the impact of deflation under different monetary policy and exchange rate regimes, and (iv) stock market reactions to deflation. |
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| Physical Description: | 1 online resource (xxii, 359 pages) : illustrations |
| Bibliography: | Includes bibliographical references (pages 331-351) and index. |
| ISBN: | 0511231741 9780511231742 0511230990 9780511230998 9780511607004 0511607008 9780521837996 0521837995 9786610703166 6610703167 9780521153560 0521153565 |
| DOI: | 10.1017/CBO9780511607004 |
| Source of Description, Etc. Note: | Print version record. |