Reconsidering Japanese deflation during the 1920s
Publication
, Journal Article
Faini, R; Toniolo, G
Published in: Explorations in Economic History
January 1, 1992
This paper takes issue with a mainstream view according to which the alleged poor performance of the Japanese economy during the 1920s was the result of the deflationary macroeconomic policies: such policies were repeatedly announced but not implemented until 1929. Price deflation is explained with a model showing that the announcement of a future appreciation of the exchange rate will lead to a decline in the price level. Both in international perspective and in light of later Japanese events, it is difficult to hold a negative view of the inability of Japanese governments to implement consistent deflationary policies during the 1920s. © 1992.
Duke Scholars
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Published In
Explorations in Economic History
DOI
EISSN
1090-2457
ISSN
0014-4983
Publication Date
January 1, 1992
Volume
29
Issue
2
Start / End Page
121 / 143
Related Subject Headings
- History of Social Sciences
- 5002 History and philosophy of specific fields
- 3801 Applied economics
- 3502 Banking, finance and investment
- 2202 History and Philosophy of Specific Fields
- 1403 Econometrics
- 1402 Applied Economics
Citation
APA
Chicago
ICMJE
MLA
NLM
Faini, R., & Toniolo, G. (1992). Reconsidering Japanese deflation during the 1920s. Explorations in Economic History, 29(2), 121–143. https://doi.org/10.1016/0014-4983(92)90008-K
Faini, R., and G. Toniolo. “Reconsidering Japanese deflation during the 1920s.” Explorations in Economic History 29, no. 2 (January 1, 1992): 121–43. https://doi.org/10.1016/0014-4983(92)90008-K.
Faini R, Toniolo G. Reconsidering Japanese deflation during the 1920s. Explorations in Economic History. 1992 Jan 1;29(2):121–43.
Faini, R., and G. Toniolo. “Reconsidering Japanese deflation during the 1920s.” Explorations in Economic History, vol. 29, no. 2, Jan. 1992, pp. 121–43. Scopus, doi:10.1016/0014-4983(92)90008-K.
Faini R, Toniolo G. Reconsidering Japanese deflation during the 1920s. Explorations in Economic History. 1992 Jan 1;29(2):121–143.
Published In
Explorations in Economic History
DOI
EISSN
1090-2457
ISSN
0014-4983
Publication Date
January 1, 1992
Volume
29
Issue
2
Start / End Page
121 / 143
Related Subject Headings
- History of Social Sciences
- 5002 History and philosophy of specific fields
- 3801 Applied economics
- 3502 Banking, finance and investment
- 2202 History and Philosophy of Specific Fields
- 1403 Econometrics
- 1402 Applied Economics