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Previous financial crises leading to stagnation : selected case studies
Dodig, Nina; Herr, Hansjörg - 2014
This paper analyses several severe financial crises observed in the history of capitalism which led to a longer period of stagnation or low growth. Comparative case studies of the Great Depression, the Latin American debt crisis of the 1980s and the Japanese crisis of the 1990s and 2000s are...
Persistent link: https://www.econbiz.de/10010242870
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Are earthquakes needed to shake economics?
Schettkat, Ronald - 2010
The current crisis is like an earthquake for the theoretical foundations of economic policies, which have guided governments and central banks for the last few decades. The efficient market hypothesis and its application to labor markets –“natural rate theory”- dominated interpretations of...
Persistent link: https://www.econbiz.de/10008651698
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Labor market policies and the "missing deflation" puzzle : lessons from Hoover policies during the US Great Depression
Roulleau-Pasdeloup, Jordan; Zhutova, Anastasia - 2015
Persistent link: https://www.econbiz.de/10011313093
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The Crisis of Finance-Dominated Capitalism in the Euro Area, Deficiencies in the Economic Policy Architecture, and Deflationary Stagnation Policies
Hein, Eckhard - 2013
In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising...
Persistent link: https://www.econbiz.de/10013089794
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Deflation Expectations and Japan's Lost Decade
Piazza, Roberto - 2015
Starting from the early 1990s, GDP in Japan stagnated for about a decade while inflation has been persistently low, at times even negative. This paper provides new stylized facts about the Japanese deflationary process and puts these facts into the context of the literature addressing the...
Persistent link: https://www.econbiz.de/10013017041
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Prices During the Great Depression : Was the Deflation of 1930-32 Really Unanticipated?
Cecchetti, Stephen G. - 2021
Several explanations for the depth of the Great Depression presume that the -30% deflation of 1930-32 was unanticipated …. For example, the debt-deflation hypothesis originally put forth by Irving Fisher is based on the notion that unanticipated … deflation increases the burden of nominal debt, adversely affecting the banking system and the aggregate economy. Other theories …
Persistent link: https://www.econbiz.de/10013243639
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The crisis of finance-dominated capitalism in the euro area, deficiencies in the economic policy architecture, and deflationary stagnation policies
Hein, Eckhard - 2012
In this paper the euro crisis is interpreted as the latest episode in the crisis of finance-dominated capitalism. For 11 initial Euro area countries, the major features of finance-dominated capitalism are analyzed; specifically, the increasing inequality of income distribution and the rising...
Persistent link: https://www.econbiz.de/10009631541
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Economic policy in a recession : lessons from the past
Steele, G. R. - 2018
Persistent link: https://www.econbiz.de/10012183738
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Prices during the Great Depression : Was the Deflation of 1930-32 really unanticipated?
Cecchetti, Stephen G. - 1989
Several explanations for the depth of the Great Depression presume that the -30% deflation of 1930-32 was unanticipated …. For example, the debt-deflation hypothesis originally put forth by Irving Fisher is based on the notion that unanticipated … deflation increases the burden of nominal debt, adversely affecting the banking system and the aggregate economy. Other theories …
Persistent link: https://www.econbiz.de/10012475867
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The Great Depression : Misunderstanding Deflation
Bartlett, Bruce - 2016
The core problem of both the Great Depression and the 2008/2009 economic crisis was deflation. A review of the Great … deflation arose and the difficulty of addressing it with the proper policies. Greater knowledge of this intellectual and …
Persistent link: https://www.econbiz.de/10012983282