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Mark Carney says that a period of low inflation – even deflation – propelled by falling oil prices would be "unambiguously good" for the economy. How do we reconcile this with the textbook position that the economy needs a little bit of inflation, and that deflation is to be avoided? He has also said there were no signs yet of "bad" deflation – what is the difference between 'good' and 'bad' deflation? Can we assess whether it is true to say that deflation is always bad for the economy?
- Economics
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- Inflation
- Inflation Expectations
- Demand-pull inflation
- Cost-push inflation
- Deflation
- Long-run Aggregate Supply Curve (LRAS)
Penny Brooks
Formerly Head of Business and Economics and now Economics teacher, Business and Economics blogger and presenter for Tutor2u, and private tutor
Our subjects
- › Business
- › Criminology
- › Economics
- › Geography
- › Health & Social Care
- › History
- › Law
- › Politics
- › Psychology
- › Sociology
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