Irving Fisher: Debt Deflation and Crises

9 Pages Posted: 15 Aug 2011

See all articles by Robert J. Shiller

Robert J. Shiller

Yale University - Cowles Foundation; National Bureau of Economic Research (NBER); Yale University - International Center for Finance

Date Written: August 12, 2011

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.

Keywords: Purchasing power of money, Indexation, Indexed bonds, Depression, Recession, Mortgages, Financial crisis

JEL Classification: B22

Suggested Citation

Shiller, Robert J., Irving Fisher: Debt Deflation and Crises (August 12, 2011). Cowles Foundation Discussion Paper No. 1817. Available at SSRN: https://ssrn.com/abstract=1909810 or http://dx.doi.org/10.2139/ssrn.1909810

Robert J. Shiller (Contact Author)

Yale University - Cowles Foundation ( email )

Box 208281
New Haven, CT 06520-8281
United States
203-432-3708 (Phone)
203-432-6167 (Fax)

HOME PAGE: http://www.econ.yale.edu/~shiller/

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States
203-432-3708 (Phone)

Yale University - International Center for Finance ( email )

Box 208200
New Haven, CT 06520
United States
203-432-3708 (Phone)
203-432-6167 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
541
Abstract Views
1,945
rank
49,802
PlumX Metrics