The anti deflaiton bias
Fecha
2020
Autores
Título de la revista
ISSN de la revista
Título del volumen
Editor
Akademiai Kiado,
Enlace externo
Resumen
Deflation is widely feared and opposed. This paper provides arguments to explain the anti-deflationary
bias. It is argued that governments favour inflation, that the main deflation theories have influenced
negatively the public opinion on deflation, and that rent-seeking behaviour and group formation explains
why the opposition to deflationary redistribution is stronger than the opposition to inflationary redistribution.
Moreover, psychological concepts, such as anchoring, the endowment effect or the availability
heuristic have contributed to the fear of deflation by causing a money illusion and a equalisation of
deflation and recession.
Descripción
Palabras clave
Citación
Colecciones

Excepto si se señala otra cosa, la licencia del ítem se describe como Attribution-NonCommercial-NoDerivatives 4.0 International