Irving Fisher and debt deflation

2020 ◽  
pp. 51-55
Keyword(s):  
Debt Deflation

scholarly journals Financial dollarization and debt deflation under a currency board

2003 ◽  
Vol 4 (4) ◽  
pp. 340-367 ◽  
Author(s):  
Sebastian Galiani ◽  
Eduardo Levy Yeyati ◽  
Ernesto Schargrodsky
Keyword(s):  
Currency Board ◽  
Financial Dollarization ◽  
Debt Deflation

Debt, Deleveraging, and the Liquidity Trap: A Fisher-Minsky-Koo Approach*

2012 ◽  
Vol 127 (3) ◽  
pp. 1469-1513 ◽  
Author(s):  
Gauti B. Eggertsson ◽  
Paul Krugman
Keyword(s):  
Fiscal Policy ◽  
Great Depression ◽  
Aggregate Demand ◽  
New Keynesian ◽  
Liquidity Trap ◽  
The Great Depression ◽  
Lost Decade ◽  
Debt Deflation

Abstract In this article we present a simple new Keynesian–style model of debt-driven slumps—that is, situations in which an overhang of debt on the part of some agents, who are forced into rapid deleveraging, is depressing aggregate demand. Making some agents debt-constrained is a surprisingly powerful assumption. Fisherian debt deflation, the possibility of a liquidity trap, the paradox of thrift and toil, a Keynesian-type multiplier, and a rationale for expansionary fiscal policy all emerge naturally from the model. We argue that this approach sheds considerable light both on current economic difficulties and on historical episodes, including Japan’s lost decade (now in its 18th year) and the Great Depression itself.

Debt deflation: from low to high order macrosystems

2011 ◽  
pp. 253-306
Author(s):  
Matthieu Charpe ◽  
Carl Chiarella ◽  
Peter Flaschel ◽  
Willi Semmler
Keyword(s):  
High Order ◽  
Debt Deflation
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