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Deflation

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Deflation Summary

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Routledge Dictionary of Economics, Second Edition

deflation (E3, E6)

1 A reduction in AGGREGATE DEMAND.

A deflationary policy of extra taxation and lower public expenditure is chosen by governments to correct balance of payments deficits and to lower the price level.

2 A fall in the average price level.

3 The elimination of price increases from an index of production or consumption. Economic statisticians are frequently engaged in ‘deflating’ time series to separate real from nominal changes.

This is the complete article, containing 68 words (approx. 1 page at 300 words per page).

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Deflation from Routledge Dictionary of Economics, Second Edition. ISBN: 0-203-00054-4. Published: 2005–06–05. ©2009 Taylor and Francis. All rights reserved.



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