Deflation: Current and Historical Perspectives (Studies in Macroeconomic History)

No longer just a relic of the Great Depression, deflation has been established in China and Japan since the 1990s and currently threatens other major economies such as Germany and even the United States. This volume considers why deflation may be worse than inflation and explores how individuals and policymakers have responded to the phenomenon. Monetary and exchange rate regimes as well as stock market reactions play an important part in advancing, or slowing, deflationary trends. The book's coverage ranges from the late nineteenth century to the present day.

Richard C. K. Burdekin is Jonathan B. Lovelace Professor of Economics at Claremont McKenna College, Claremont, California. His areas of interest include monetary and financial economics, Chinese economics reforms, and inflation and deflation. Professor Burdekin has published four books: Budget Deficits and Economic Performance (with Farrokh K. Langdana), Confidence, Credibility and Macroeconomic Policy (with Farrokh K. Langdana), Distributional Conflict and Inflation (with Paul Burkett), and Establishing Monetary Stability in Emerging Market Economies (edited with Thomas D. Willett, Richard J. Sweeney, and Clas Wihlborg). He has also authored over forty refereed journal articles which have been published in the American Economic Review, the Journal of Economic History, the Journal of International Money and Finance, the Journal of Money, Credit and Banking, and the Review of Economics and Statistics, among other leading publications. Pierre L. Siklos is Professor of Economics at Wilfrid Laurier University, Waterloo, Ontario, Canada, and Associate Director of its Viessmann Centre for the Study of Modern Europe. He specializes in macroeconomics with an emphasis on the study of inflation, central banks, and financial markets and also conducts research in applied time series analysis. Professor Siklos has been a consultant to a variety of institutions and central banks. He is the author of several books, including the leading textbook in Canada on money and banking, and The Changing Face of Central Banking: Evolutionary Trends Since World War II (Cambridge University Press, 2002). He has also published numerous articles in eminent economics journals. Professor Siklos has been a visiting lecturer or fellow at several universities in Europe, North America and New Zealand.