Deflation: An Underlying Feature of a Healthy Economy
AbstractThe author reverts the current mainstream discussion of deflation hampering economic growth. The author first revises the definition inflation that is often misinterpreted. He shows that deflation is a natural phenomenon that often follows periods of unsustainable asset-price bubbles. He also argues that by labeling economic policy as „anti-deflationary,“ many governmental policies lead to inflationary policies that destroy the wealth of individuals.
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Bibliographic InfoArticle provided by Charles University Prague, Faculty of Social Sciences in its journal Finance a uver - Czech Journal of Economics and Finance.
Volume (Year): 51 (2001)
Issue (Month): 10 (October)
deflation – central bank – inflationary policy – methodology;
Find related papers by JEL classification:
- B4 - Schools of Economic Thought and Methodology - - Economic Methodology
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- H1 - Public Economics - - Structure and Scope of Government
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