Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/189362 
Year of Publication: 
2006
Series/Report no.: 
Queen's Economics Department Working Paper No. 1086
Publisher: 
Queen's University, Department of Economics, Kingston (Ontario)
Abstract: 
What explains the widespread fear of deflation? This paper reviews the history of thought, economic history, and empirical evidence on deflation, with a view to answering this question. It also outlines informally the main effects of deflation in applied monetary models. The main finding is that -- for both historical and contemporary deflations -- there are many open, empirical questions that could be answered using the tools economists use to study inflation and monetary policy more generally.
Subjects: 
deflation
JEL: 
E31
Document Type: 
Working Paper

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