Deflation

This book was originally published in 2004. Fears of deflation seemed nothing more than a relic of the Great Depression. However beginning in the 1990s persistently falling consumer prices have emerged in Japan China and elsewhere. Deflation is also a distinct possibility in some of the major European area economies especially Germany and emerged as a concern of the US Federal Reserve in 2003. Deflation may be worse than inflation not only because the real burden of debt rises but also because f...See More