Abstract Deflation is currently considered as one of the most important threats for macroeconomic dynamics and, thus … verified 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 …

, relative to deflation, exacerbates output contraction, relative to expansion, in the face of monetary shocks. In contrast …, larger price deflation, relative to inflation, moderates output contraction, relative to expansion in the face of government …

deflation properties are demonstrated in detail. Implausibilities of chaining and "explaining" (as recommended in SNA) lack of … additivity in deflation will drive official statistics into unnecessary difficulties.  …

occurring in a period when US and UK central bankers were responding to perceived risks of a new deflation. Design …/methodology/approach The methodology focuses on how the anti-deflation policies implemented by the Federal Reserve and the Bank of England … contributed to the housing market bubbles. The central bankers perceived the deflation as a Keynesian short-run deficiency in …