Ohanian, Lee E. - In: Journal of Economic Dynamics and Control 49 (2014) C, pp. 35-48
during the Fed׳s first 100 years: the post-World War I deflation, the deflation of the Great Depression, the inflation of … World War II, and the Great Inflation of the 1970s. In terms of their macroeconomic impacts, I find that deflation was … markets, and not because deflation is generically depressing. I find that the biggest impact of monetary policy during World …
