The postbellum deflation and its lessons for today

نویسنده

  • David Beckworth
چکیده

A number of recent studies examining historical experiences with deflation have called into question the widely-held view that maintains deflation is economically harmful. These studies contend that a broad, historical perspective reveals a more nuanced view of deflation, one that requires taking seriously both malign and benign deflation. This paper builds on these findings by taking an in-depth look at the U.S. experience with deflation during the postbellum period and considers whether it supports the claim that deflation can be benign. This paper also considers the lessons of this deflation experience for monetary policy today. © 2007 Elsevier Inc. All rights reserved. JEL classification: E31; E32; E52; E58; N11; O51

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

The Role of Transparency in Reducing Corruption, Global Experiences Lessons for Iran

Abstract: According to the International Organization for Transparency International, in 2017, Iran's ranking on the "Corruption Perceptions (CPI) Index" among the 180 countries surveyed was 130, and the country's score was 30 out of 100. Also, our country's score in 2016 was 29 in the index and 131 in the ranking, which is calculated from 176 countries. According to information from recent yea...

متن کامل

Should We Fear Deflation?

DEFLATION IS BACK. In the six months from October 1998 to March 1999, some 438 articles about deflation appeared in major U.S. newspapers, compared with only 36 in the first half of 1997 and 10 in the first half of 1990. For sixty years, ever since the middle years of the Great Depression, deflation was a nonissue. Next to no one worried about it. Next to no one viewed a general decline in the ...

متن کامل

Aging, Pensions and Long-term Care: What, Why, Who, How?; Comment on “Financing Long-term Care: Lessons From Japan”

Japan has been aging faster than other industrialized nations, and its experience offers useful lessons to others. Japan has been willing to expand its welfare state with a long-term care (LTC) insurance to finance home care and nursing home care for frail elderly. As Ikegami shows, it created new facilities and expanded specialized staffing for home care, developed a c...

متن کامل

Regionalization of the Iowa State University Extension System: Lessons Learned by Key Administrators

The cyclical economic downturn in the United States has forced many Extension administrators to rethink and adjust services and programming. The Cooperative Extension System (CES), the organization primarily responsible for governmental Extension work in the United States, at Iowa State University responded to this economic downturn by restructuring its organization from county based to a regio...

متن کامل

A Review on Cyberspace Security: Lessons for Islamic Republic of Iran

Today governments face a threat by cyber attacks capable of disrupting communicative, economic and vital services that cause severe damages and losses. It has been years that Islamic republic of Iran benefits from cyberspace in different military and civilian sectors. Sensitive national centers such as nuclear facilities and Ministry of Oil have been targeted by individuals, groups and governme...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2007