Severe economic contraction during the Great Depression resulted in deflation averaging -10.2% in 1932. As the stock market began to crater in late 1929, the supply of money declined along with it ...

The following story nicely summarizes the damaging impact of deflation: “Once upon a time it was announced that the devil was going out of business and would sell all his equipment to those who ...

Cavallo, Alberto, Sophus A. Reinert, and Federica Gabrieli. "The Global Great Depression, 1929-1939." Harvard Business School Case 722-034, November 2021. (Revised January 2024.) ...

The consumer price inflation rate in Japan has been below zero since the mid-1990s. However, despite the presence of a substantial output gap, the rate of deflation has been much smaller than that ...