Deflation and Depression: Is There and Empirical Link?

Andrew Atkeson and Patrick Kehoe

No 10268, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Are deflation and depression empirically linked? No, concludes a broad historical study of inflation and real output growth rates. Deflation and depression do seem to have been linked during the 1930s. But in the rest of the data for 17 countries and more than 100 years, there is virtually no evidence of such a link.

JEL-codes: E5 E52 (search for similar items in EconPapers)
Date: 2004-02
New Economics Papers: this item is included in nep-mac and nep-rmg
Note: EFG ME
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Published as Atkeson, Andrew and Patrick J. Kehoe. "Deflation And Depression: Is There An Empirical Link?," American Economic Review, 2004, v94(2,May), 99-103.

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Journal Article: Deflation and Depression: Is There an Empirical Link? (2004)
Working Paper: Deflation and depression: is there an empirical link? (2004)
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