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Asset Prices and the Real Economy

  • Forrest Capie
  • Geoffrey E Wood

Part of the Studies in Banking and International Finance book series (SBIF)

Table of contents

  1. Front Matter
    Pages i-xi
  2. Gordon Pepper
    Pages 1-3
  3. Forrest Capie, Geoffrey E. Wood
    Pages 5-17
  4. Barry Eichengreen, Richard S Grossman
    Pages 65-105
  5. Leigh Drake, David T Llewellyn
    Pages 106-168
  6. Charles W. Calomiris, Athanasios Orphanides, Steven A. Sharpe
    Pages 169-196
  7. Mervyn King
    Pages 197-241
  8. Kagehide Kaku
    Pages 242-275
  9. Back Matter
    Pages 277-286

About this book

Introduction

The recession which many countries experienced in the early 1990s had certain unusual aspects. Most notably, and common to all countries, was the behaviour of asset prices relative to the general price level. In consequence, reasons were sought to explain the special characteristics of the recession and as a result of the behaviour of asset prices attention turned to 'Debt-Deflation Theories' associated in different forms with Keynes and Irving Fisher. The contributors to this volume discuss the significance of debt deflation. Their striking common feature is that, on the evidence presented here, the behaviour of asset prices should not be of great concern to policy makers, or to those attempting to understand economic behaviour. However, residual doubts remain over the Japanese case.

Keywords

Deflation economy employment instability inventory investment John Maynard Keynes Keynes science and technology stability sweden

Editors and affiliations

  • Forrest Capie
    • 1
  • Geoffrey E Wood
    • 2
  1. 1.Department of Banking and FinanceCity University Business SchoolLondonUnited Kingdom
  2. 2.City UniversityLondonUnited Kingdom

Bibliographic information

Industry Sectors
Finance, Business & Banking