The recession which many countries experienced in the early 1990s
had certain unusual aspects. Most notably, and common to all
countries, was the behaviour of asset prices relative to the
general price level. In consequence, reasons were sought to explain
the special characteristics of the recession and as a result of the
behaviour of asset prices attention turned to 'Debt-Deflation
Theories' associated in different forms with Keynes and Irving
Fisher. The contributors to this volume discuss the significance of
debt deflation. Their striking common feature is that, on the
evidence presented here, the behaviour of asset prices should not
be of great concern to policy makers, or to those attempting to
understand economic behaviour. However, residual doubts remain over
the Japanese case.
General
Imprint: |
Palgrave Macmillan
|
Country of origin: |
United Kingdom |
Series: |
Studies in Banking and International Finance |
Release date: |
1997 |
First published: |
1997 |
Editors: |
Forrest Capie
• Geoffrey E. Wood
|
Dimensions: |
216 x 140 x 17mm (L x W x T) |
Format: |
Paperback
|
Pages: |
286 |
Edition: |
1st ed. 1997 |
ISBN-13: |
978-1-349-25411-8 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
1-349-25411-8 |
Barcode: |
9781349254118 |
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