Billi, Roberto M. - In: Economic Review (2009) Q III, pp. 67-98
danger that economies worldwide, including the United States, Japan, and the Euro Area, may enter a period of deflation, in … which the prices of goods and services fall relentlessly. ; Policymakers and economists agree that sustained deflation would … likely worsen the already fragile economic and financial environment. Past episodes of deflation in the wake of financial …