TY  - JOUR
AU  - Atkeson,Andrew
AU  - Kehoe,Patrick
TI  - Deflation and Depression: Is There and Empirical Link?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10268
PY  - 2004
Y2  - February 2004
UR  - http://www.nber.org/papers/w10268
L1  - http://www.nber.org/papers/w10268.pdf
N1  - Author contact info:
Andrew Atkeson
Bunche Hall 9381
Department of Economics
UCLA
Box 951477
Los Angeles, CA  90095-1477
Tel: 866/312-9770
Fax: 310/825-9528
E-Mail: andy@atkeson.net

Patrick Kehoe
Research Department
Federal Reserve Bank of Minneapolis
90 Hennepin Avenue
Minneapolis, MN  55480-0291
Tel: 612/204-5525
Fax: 612/204-5515
E-Mail: pkehoe@res.mpls.frb.fed.us
AB  - Are deflation and depression empirically linked? No, concludes a broad historical study of inflation and real output growth rates. Deflation and depression do seem to have been linked during the 1930s. But in the rest of the data for 17 countries and more than 100 years, there is virtually no evidence of such a link.
ER  -