deflation combined with low nominal interest rates. He was also focused on Japan and on an evaluation of its monetary policy of …

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 …

The author reverts the current mainstream discussion of deflation hampering economic growth. The author first revises … the definition inflation that is often misinterpreted. He shows that deflation is a natural phenomenon that often follows …