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 …

article explains why deflation can have dramatic consequences for the economy, gauges the current deflationary risks and … discusses what the policy options are in a deflationary environment. In past centuries, deflation – when defined in a broad … hardship. When deflation is defined more narrowly as a sustained decline in the general price level that gives rise to further …