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The Three Ds — Disinflation, Deflation, and Depression

In: The New International Money Game

Author

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  • Robert Z. Aliber

    (University of Chicago)

Abstract

The ‘bangs’ involve a currency reform — usually after the economy has been hyperinflating at rates of 600 or 800 percent a year (Box 10.1). The production and import of currency notes becomes a major growth industry. The experience from many countries suggests that once the price level triples in a year, the ‘point of no return’ has been passed, and the inflation rate will continue to accelerate until there is a currency reform — the old money is thrown out and a new money is introduced.

Suggested Citation

  • Robert Z. Aliber, 2002. "The Three Ds — Disinflation, Deflation, and Depression," Palgrave Macmillan Books, in: The New International Money Game, edition 0, chapter 10, pages 168-178, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50097-6_10
    DOI: 10.1057/9780230500976_10
    as

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