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Irving Fisher: Debt Deflation and CrisesRobert J. ShillerYale University - Cowles Foundation; National Bureau of Economic Research (NBER); Yale University - International Center for Finance August 12, 2011 Cowles Foundation Discussion Paper No. 1817 Abstract: 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.
Number of Pages in PDF File: 9 Keywords: Purchasing power of money, Indexation, Indexed bonds, Depression, Recession, Mortgages, Financial crisis JEL Classification: B22 working papers seriesDate posted: August 15, 2011Suggested CitationContact Information
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