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Deflation and depression: Is there an empirical link?

Atkeson, A; Kehoe, PJ; (2004) Deflation and depression: Is there an empirical link? American Economic Review , 94 (2) pp. 99-103. 10.1257/0002828041301588. Green open access

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Abstract

Are deflation and depression empirically linked? No, concludes a broad historical study of inflation and real output growth rates. Deflation and depression do seem to have been linked during the 1930s. But in the rest of the data for 17 countries and more than 100 years, there is virtually no evidence of such a link.

Type: Article
Title: Deflation and depression: Is there an empirical link?
Location: San Diego, CA
Open access status: An open access version is available from UCL Discovery
DOI: 10.1257/0002828041301588
Publisher version: http://doi.org/10.1257/0002828041301588
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of SandHS > Dept of Economics
URI: http://discovery.ucl.ac.uk/id/eprint/10058350
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