Deflation and Depression: Is There and Empirical Link?
Are 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.
|Date of creation:||Feb 2004|
|Date of revision:|
|Publication status:||published as Atkeson, Andrew and Patrick J. Kehoe. "Deflation And Depression: Is There An Empirical Link?," American Economic Review, 2004, v94(2,May), 99-103.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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