There are three possible price movements in a market economy: stability, inflation, and deflation. Inflation and … deflation are defined in this article as changes in the purchasing power of money caused by the money creation. Inflation and … deflation have many asymmetric, and even some symmetric, effects. Both price phenomena are undesirable, but the consequences of …

deflation combined with low nominal interest rates. He was also focused on Japan and on an evaluation of its monetary policy of …The article summarizes the main points discussed at the seminar on Monetary Policy during Very Low Inflation, held by … research into low inflation and its implication for the Czech economy. The presentation was largely based on material available …