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GRADUAL DEFLATION [1 record]

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Record 1 1998-11-19

English

Subject field(s)
  • Economic Fluctuations
CONT

Zero inflation appears extreme only because people have long been accustomed to higher interest rates, because of the lingering ghost of the Phillips Curve(which purports to show a trade-off between inflation and unemployment) and because economists dismiss out-of-hand the alternative of gradual deflation.

French

Domaine(s)
  • Fluctuations économiques
CONT

Si l'inflation zéro apparaît comme une option extrême, c'est parce que les agents économiques sont depuis longtemps accoutumés à des taux d'inflation élevés, parce que la fameuse courbe de Phillips (qui prétend démontrer l'existence d'un dilemme inflation-chômage) continue d'exercer une grande influence et également parce que les économistes rejettent d'emblée l'option de déflation progressive.

Spanish

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