Deflation

Current and Historical Perspectives

Richard C. K. Burdekin, Pierre L. Siklos

359 pages, parution le 04/11/2004

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Résumé

Until recently 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 euro 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.

L'auteur - Pierre L. Siklos

Jacques Regard est conseiller en développement personnel et intervient comme consultant en management relationnel. Vous pouvez le retrouver à l'adresse suivante : www.Jacques-regard.com

Sommaire

Fears of deflation and the role of monetary policy: some lessons and an overview
Deflation, silent runs, and bank holidays in the great contraction
Price change, financial stability, and the British economy, 1870-1939
Deflation dynamics in Sweden: perceptions, expectations and adjustment during the deflations of 1921-23 and 1931-33
Boom-busts in asset prices, economic instability, and monetary policy
Deflation, credit and asset prices
Is deflation depressing? evidence from the classical gold standard
The strong lira policy and deflation in Italy's inter-war period
Deflation and stagnation in Japan: collapse of the monetary transmission mechanism and echo from the 1930s
Deflation, the financial crises of the 1890s, and stock exchange responses in London, New York, Paris and Berlin
The stock market and the business cycle in periods of deflation, (hyper-)inflation, and political turmoil: Germany 1913-1926
Deflationary pressures and the role of gold stocks: 1929, 1987 and today

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Caractéristiques techniques

	PAPIER
Éditeur(s)	Cambridge University Press
Auteur(s)	Richard C. K. Burdekin, Pierre L. Siklos
Parution	04/11/2004
Nb. de pages	359
Format	16 x 23,5
Couverture	Relié
Poids	632g
Intérieur	Noir et Blanc
EAN13	9780521837996
ISBN13	978-0-521-83799-6