The costs of deflations: a historical perspective by Claudio Borio, Magdalena Erdem, Andrew Filardo and Boris hofmann published by BIS (3/2015). “…We fail to uncover evidence that high debt has so far raised the cost of goods and services…
The costs of deflations: a historical perspective by Claudio Borio, Magdalena Erdem, Andrew Filardo and Boris hofmann published by BIS (3/2015). “…We fail to uncover evidence that high debt has so far raised the cost of goods and services…