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Klappentext This collection analyses trends in deflation from the nineteenth century onwards. Zusammenfassung Could deflation be worse than inflation? This 2004 collection explores how individuals and policymakers have responded to the phenomenon. Monetary and exchange rate regimes as well as stock market reactions are considered as an important influence upon deflationary trends. The book's coverage ranges from the nineteenth century onwards. Inhaltsverzeichnis List of tables and figures; List of contributors; Preface; 1. Fears of deflation and the role of monetary policy: some lessons and an overview Richard C. K. Burdekin and Pierre L. Siklos; Part I. Fears of Deflation and the Role of Monetary Policy: 2. Deflation, silent runs, and bank holidays in the great contraction Hugh Rockhoff; 3. Price change, financial stability, and the British economy, 1870-1939 Forrest Capie and Geoffrey Wood; 4. Deflation dynamics in Sweden: perceptions, expectations, and adjustment during the deflations of 1921-1923 and 1931-1933 Klas Fregert and Lars Jonung; Part II. Deflation and Asset Prices: 5. Boom-busts in asset prices, economic instability, and monetary policy Michael D. Bordo and Olivier Jeanne; 6. Deflation, credit and asset prices Charles Goodhart and Boris Hofmann; Part III. International Perspectives on Deflation: 7. Is deflation depressing? Evidence from the classical gold standard Michael D. Bordo and Angela Redish; 8. The strong Lira policy and deflation in Italy's interwar period Michele Fratianni and Franco Spinelli; 9. Deflation and stagnation in Japan: collapse of the monetary transmission mechanism and echo from the 1930s Michael M. Hutchison; Part IV. Stock Market Adjustment to Deflation: 10. Deflation, the financial crises of the 1890s, and Stock Exchange responses in London, New York, Paris, and Berlin Lance Davis, Larry Neal, and Eugene White; 11. The Stock Market and the business cycle in periods of deflation, (hyper-)inflation, and political turmoil: Germany 1913-1926 Martin T. Bohl and Pierre L. Siklos; 12. Deflationary pressures and the role of gold stocks: 1929, 1987 and today Richard C. K. Burdekin and Marc D. Weidenmier; References; Index....
