The Spectre Of Deflation: A Review Of Empirical Evidence

Gregor Smith

No 1086, Working Paper from Economics Department, Queen's University

Abstract: What explains the widespread fear of deflation? This paper reviews thehistory of thought, economic history, and empirical evidence ondeflation, with a view to answering this question. It alsooutlines informally the main effects of deflation in appliedmonetary models. The main finding is that -- for both historicaland contemporary deflations -- there are many open, empiricalquestions that could be answered using the tools economists use tostudy inflation and monetary policy more generally.

Keywords: deflation (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Pages: 57 pages
Date: 2006-07
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mac, nep-mon and nep-pke
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Citations: View citations in EconPapers (11)

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https://www.econ.queensu.ca/sites/econ.queensu.ca/files/qed_wp_1086.pdf First version 2006 (application/pdf)

Related works:
Journal Article: The spectre of deflation: a review of empirical evidence (2006)
Journal Article: The spectre of deflation: a review of empirical evidence (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:1086

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