Open AccessIrving Fisher: Debt Deflation and Crises
Author(s) -
Robert J. Shiller
Publication year - 2011
Publication title -
ssrn electronic journal
Language(s) - English
Resource type - Journals
ISSN - 1556-5068
DOI - 10.2139/ssrn.1909810
Subject(s) - deflation , keynesian economics , economics , debt , monetary economics , econometrics , macroeconomics , monetary policy
It is the 100th anniversary of Irving Fisher’s 1911 book The Purchasing Power of Money. But, more important than that, it is a good time, during the current financial turmoil, to reconsider some of his theories again, in light of current events. And I think that some of his theories about variations in the purchasing power of money are very important today, have been underappreciated, and are worthy of considering anew.
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