Deflation Teaser? Klondike Bars and the Golden 90s in Canada

For both historians and macroeconomists this period is a teaser. For macroeconomists the period provides a rare opportunity to study a secular deflation. For historians the causes of both underperformance of the economy in the early years and the boom in the second half of the period are somewhat puzzling. For both groups the fundamental question concerns the relationship between the real and the nominal performance of the economy. Was there causation or merely correlation? (Bordo and Redish 2003, p. 2)