000			01397nam a2200205Ia 4500
999			_c65800 _d65800
005			20220511164323.0
008			200204s9999 xx 000 0 und d
020			_a9780333628928
082			_a332.63222 ASS
100			_aCapie, Forrest (ed.)
245		0	_aAsset prices and the real economy / edited by Forrest Capie and Geoffrey E. Wood
260			_aLondon
260			_bCentre for Banking and International Finance
260			_c1997
300			_a286 p.
520			_aThe 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.
650			_aStudies in banking and international finance
700			_aWood , Geoffrey E. (ed.)
942			_cB _2ddc