WP 2009-8 What is Driving Global Deflation and How Best to Fight It?

Korkut Ertürk
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Korkut Ertürk: New School for Social Research, New York, NY, https://www.economicpolicyresearch.org

No 2009-8, SCEPA working paper series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School

Abstract: The massive US stimulus that has just been enacted is liable to raise questions sooner or later about the viability of the dollar in financial markets. It is true that no currency today – or, in the foreseeable future - seems capable of providing a safer alternative to the dollar, but that should not be a cause for complacency. A panicky rush into gold out of the dollar is always possible, and that can turn the current slump into a great depression worse than the last.

Keywords: financial markets; economic crisis; stimulus (search for similar items in EconPapers)
Pages: 15 pages
Date: 2009-03
New Economics Papers: this item is included in nep-pke
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