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The risk of deflation

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Listed:
  • John C. Williams

Abstract

This Letter examines the risk of deflation in the United States by reviewing the evidence from past episodes of deflation and inflation.

Suggested Citation

  • John C. Williams, 2009. "The risk of deflation," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar27.
  • Handle: RePEc:fip:fedfel:y:2009:i:mar27:n:2009-12
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    File URL: http://www.frbsf.org/publications/economics/letter/2009/el2009-12.html
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    File URL: http://www.frbsf.org/publications/economics/letter/2009/el2009-12.pdf
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    References listed on IDEAS

    as
    1. Robert Shimer, 2005. "The Cyclical Behavior of Equilibrium Unemployment and Vacancies," American Economic Review, American Economic Association, pages 25-49.
    2. Robert Shimer, 2012. "Reassessing the Ins and Outs of Unemployment," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(2), pages 127-148, April.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mordecai Avriel & Jens Hilscher & Alon Raviv, 2013. "Inflation Derivatives Under Inflation Target Regimes," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 33(10), pages 911-938, October.
    2. John C. Williams, 2009. "Heeding Daedalus: Optimal Inflation and the Zero Lower Bound," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, pages 1-49.
    3. Todd E. Clark & Taeyoung Doh, 2011. "A Bayesian evaluation of alternative models of trend inflation," Research Working Paper RWP 11-16, Federal Reserve Bank of Kansas City.
    4. James H. Stock & Mark W. Watson, 2010. "Modeling inflation after the crisis," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 173-220.
    5. Joshua C. C. Chan & Gary Koop & Simon M. Potter, 2013. "A New Model of Trend Inflation," Journal of Business & Economic Statistics, Taylor & Francis Journals, pages 94-106.
    6. John C. Williams, 2009. "Heeding Daedalus: Optimal inflation and the zero lower bound," Working Paper Series 2009-23, Federal Reserve Bank of San Francisco.
    7. Felix Geiger & Oliver Sauter, 2009. "Deflationary vs. Inflationary Expectations - A New-Keynesian Perspective with Heterogeneous Agents and Monetary Believes," Diskussionspapiere aus dem Institut für Volkswirtschaftslehre der Universität Hohenheim 312/2009, Department of Economics, University of Hohenheim, Germany.
    8. Landais, Bernard, 2009. "La politique monétaire et la crise
      [Monetary Policy and The Crisis]
      ," MPRA Paper 15652, University Library of Munich, Germany.

    More about this item

    Keywords

    Deflation (Finance);

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