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Recent research has provided strong circumstantial evidence for the proposition that sustained deflation -- the result … mechanism by which deflation led to depression. In this paper we consider several channels, including effects operating through … real wages and through interest rates. Our focus, however, is on the disruptive effect of deflation on the financial system …
Persistent link: https://www.econbiz.de/10012475539
Recent research has provided strong circumstantial evidence for the proposition that sustained deflation -- the result … mechanism by which deflation led to depression. In this paper we consider several channels, including effects operating through … real wages and through interest rates. Our focus, however, is on the disruptive effect of deflation on the financial system …
Persistent link: https://www.econbiz.de/10013308620
Persistent link: https://www.econbiz.de/10014312509
Persistent link: https://www.econbiz.de/10013262673
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, just as in the Great Recession we anticipate deflation in the near future, coupled with rising joblessness and recession. …
Persistent link: https://www.econbiz.de/10013470458
The global financial crisis has now spread across multiple countries and sectors, affecting both financial and real spheres in the advanced as well as the developing economies. This has been caused by policies based on "rational expectation" models that advocate deregulated finance, with...
Persistent link: https://www.econbiz.de/10009269425
The global financial crisis has now spread across multiple countries and sectors, affecting both financial and real spheres in the advanced as well as the developing economies. This has been caused by policies based on “rational expectation” models that advocate deregulated finance, with...
Persistent link: https://www.econbiz.de/10013122313
The depth of the Great Recession, the slow recovery of job creation, the downward trend in labor force participation, high long-term unemployment, stagnant or declining wages for low-to-medium skill jobs owing to adverse labor demand shifts, and a greater rebound in low-wage than mid- or...
Persistent link: https://www.econbiz.de/10013011130
In diesem Beitrag werden die Grundzüge der Überinvestitionstheorien von Hyman Minsky auf der einen und die von v. Hayek/Garrison auf der anderen Seite zunächst in den „Sprachen“ der Originalbeiträge herausgearbeitet. Anschließend wird ihr möglicher Erklärungsbeitrag für die aktuelle...
Persistent link: https://www.econbiz.de/10003961724