Deflation : Current and Historical Perspectives (Studies in Macroeconomic History)
Editorial Reviews
Review
'Slow deflation was once a widely espoused policy goal in its own right, and it still has its supporters. Perhaps more important, potentially deflationary accidents are bound to happen from time to time in a world that has settled for low inflation, because not all shocks emanate from monetary policy. This volume is an indispensable source of wisdom on the variety that deflationary episodes have displayed in the past, and on the many intellectual and practical challenges that they have presented to economists. Burdekin and Siklos are to be congratulated on a collection of essays that is historically illuminating, intellectually challenging, and of current policy relevance, too.' David Laidler, University of Western Ontario, Canada
'In this volume, a distinguished set of scholars make important contributions to monetary history and to a number of contemporary policy debates including the role, if any, asset prices should play in setting monetary policy, the use of exchange rates as nominal anchors and whether Japan has fallen into a Keynesian liquidity trap. The contributors provide strong support for inflation targeting to avoid not only high inflation, but deflation as well.' Thomas Willett, The Claremont Colleges
Book Description
No longer just a relic of the Great Depression, deflation has been established in China and Japan since the 1990s and currently threatens other major economies such as Germany and even the United States. This volume considers why deflation may be worse than inflation and explores how individuals and policymakers have responded to the phenomenon. Monetary and exchange rate regimes as well as stock market reactions play an important part in advancing, or slowing, deflationary trends. The book's coverage ranges from the late nineteenth century to the present day.
Deflation : Current and Historical Perspectives (Studies in Macroeconomic History)
Deflation : Current and Historical Perspectives (Studies in Macroeconomic History),Richard C.K. Burdekin,Pierre L. Siklos,Cambridge University Press,0521837995,Business & Economics,Business / Economics / Finance,Business/Economics,Deflation (Finance),Finance,Monetary policy,Prices,Business & Economics / Finance,Monetary economics
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