Deflation - economic inflation notes and graphs 11111 PDF

Title Deflation - economic inflation notes and graphs 11111
Course International Economics
Institution The University of Warwick
Pages 1
File Size 37.7 KB
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Summary

economic inflation notes and graphs 11111...

Description

24/04/17 Econ Deflation = a persistent fall in the general price level of goods and services. the rate of inflation becomes negative DEMAND-SIDE causes of deflation -deep fall in AD causing a persistent recession/ depression -large negative output gap- i.e high level of spare capacity SUPPLY-SIDE causes of deflation -improved productivity -technological advances -significant fall in wage rates -high exchange rate causing import prices to fall GPL

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Evaluating the consequences of price deflation -real interest rates rise -real level of debt rises -pressure for lower wages -improved price competitiveness -declining business profits -rise in cyclical unemployment...

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