Deflation is currently considered as one of the most important threats for macroeconomic dynamics and, thus, it is … that deflation periods necessarily go hand in hand with recessions. Thus, costs of deflation might be much lower than … typically assumed. If for monetary policy makers, a possible conflict of interests between the avoidance of deflation and the …

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 …

in the risk balance throughout our evaluation period because of the implied amplification of deflation risks. We then …

study framework despite the short sample period from 2009 to 2013. Due to renewed fears of deflation we compare option …-implied and statistical density functions to gain insight into deflation risk. Inflation expectations show a decreasing mean but … influence of monetary policy announcements on inflation expectations diminished. Tail events such as deflation although still …

. Deflation subsided by 2005. As soon as inflation appeared to stabilize near a rate of zero, the Bank of Japan rapidly reduced …