complementary monetary policy tool to stimulate the economy and combat the risks of deflation when the policy interest rate is at …

advanced countries as well, but we find that deflation risk from aging is not inevitable as ambitious structural reforms and an …

the 16th and 17th centuries, the contrary phenomenon: what Keynes had called 'Profit Deflation' (for him, a truly negative …

monetary forces in producing deflation in the second and final quarters of the fourteenth century, but severe inflation in … fourteenth century was principally due to a deflation in which consumer prices fell much more than did nominal wages. In the … final quarter of the century, the even stronger rise in real wages was principally due to another deflation in which …

1360s. In the later 14th century, however, first England and then Flanders experienced an equally dramatic deflation, one … mid 15th century, some money wages did slowly rise, while deflation continued – thus indicating other forces at work to … important focus of this paper is that the late-medieval inflations and deflations (including the pronounced deflation preceding …

Keynes had called ‘Profit Deflation’ (for him, a truly negative force), in that industrial wages rose faster than industrial …