AbstractI focus my remarks on the implications of the monetary policy response to the crisis for inflation and/or deflation and discuss the following questions: Have we successfully avoided deflation and a great depression in its wake? Will the expansion of central banks’ balance sheets eventually result in unacceptable inflation? Have unconventional measures impaired central bank credibility and/or compromised central bank independence? What are the potential lessons from history for central bank policies in the future?
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
This chapter was published in:
This item is provided by European Central Bank in its series Chapters with number cbc6-08.
Find related papers by JEL classification:
- N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Barry Eichengreen, 1992.
"Golden Fetters: The Gold Standard and the Great Depression, 1919-1939,"
National Bureau of Economic Research, Inc, number eich92-1.
- Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Official Publications).
If references are entirely missing, you can add them using this form.