, who both warned that restoring the gold standard would cause catastrophic deflation unless monetary demand for gold was … attempt to restore an international gold standard after World War I and did not originate, as Friedman believed, in the United …

Deflation has had a bad rap, largely based on the experience of the 1930's when deflation was synonymous with … depression. Recent experience with declining prices in Japan and China together with the concern over deflation in Europe and the … United States has led to renewed attention to the topic of deflation. In this paper we focus our attention on the deflation …

Deflation has had a bad rap, largely based on the experience of the 1930's when deflation was synonymous with … depression. Recent experience with declining prices in Japan and China together with the concern over deflation in Europe and the … United States has led to renewed attention to the topic of deflation. In this paper we focus our attention on the deflation …

Hayek's evolving thought on gold and the gold standard is complex and, at times, confusing. Hayek initially supported … the gold standard and paid special attention to those nations whose central banking policies he viewed as relatively loose … mechanisms of the gold standard. Instead, he preferred a static measure of the broader money stock (White 1999). This put him at …