Deflation and depression: is there an empirical link?
AbstractAre 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.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Minneapolis in its series Staff Report with number 331.
Date of creation: 2004
Date of revision:
Publication status: Published in American Economic Review> (Vol. 94, No. 2, May 2004, pp. 99-103)
Other versions of this item:
- Andrew Atkeson & Patrick J. Kehoe, 2004. "Deflation and Depression: Is There an Empirical Link?," American Economic Review, American Economic Association, vol. 94(2), pages 99-103, May.
- Andrew Atkeson & Patrick Kehoe, 2004. "Deflation and Depression: Is There and Empirical Link?," NBER Working Papers 10268, National Bureau of Economic Research, Inc.
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-04-04 (All new papers)
- NEP-MAC-2004-04-04 (Macroeconomics)
- NEP-MON-2004-04-04 (Monetary Economics)
- NEP-RMG-2004-04-04 (Risk Management)
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