I 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?
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- Barry Eichengreen, 1992.
"Golden Fetters: The Gold Standard and the Great Depression, 1919-1939,"
National Bureau of Economic Research, Inc, number eich92-1, July.
- Eichengreen, Barry, 1996. "Golden Fetters: The Gold Standard and the Great Depression, 1919-1939," OUP Catalogue, Oxford University Press, number 9780195101133.
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