Deflation: Theory and Reality

Author: Zhang Yongjun
Publisher:
Publish Date: 2000-01-01
Features: This book analyzes the different definitions of deflation in the field of domestic economics, supported by a large number of economic literature, and affirms the definition that deflation refers to a sustained decline in the general price level. After introducing the theories of deflation by three economic masters—Keynes, Fisher, and Pigou—as well as the Austrian School and the Monetarist School, and reviewing several severe deflationary periods in Chinese and world history, the book analyzes the causes of China's current deflation and proposes corresponding policy measures.