This collection of seminal papers examines how economies behave under deflationary conditions. The volumes cover both theoretical and empirical aspects of this important subject. The editor presents articles exploring whether, and under what conditions, deflation can lead to beneficial economic...

The problems associated with chronically high inflation and hyperinflation continue to preoccupy policy makers and economists. In Great Inflations of the 20th Century, Pierre Siklos has gathered together major papers by a distinguished group of scholars who use historical episodes to understand...

The process of transition from a centrally planned economy to one driven primarily by market forces has been a source of controversy and debate. Although the pace and approach has varied we are now beginning to understand some of the essential ingredients necessary for a successful transition.