Ok, here is the translation following your instructions: Deflation theory

Author: Liu Yongming
Publisher:
Publish Date: 2002-07-01
Features: Fluctuations in the general price level are one of the core contents of macroeconomics. This is not only because the origins of these fluctuations are extremely complex, but more importantly, they have a profound impact on a country's economy and social life. The harm caused by severe inflation or deflation to economic activity has been proven by the history of social development. However, for macroeconomic policy, it is far from enough to merely try to avoid various extreme situations. Monetary authorities must have a sufficient understanding of the effects of price fluctuations of different degrees.