"Myths surrounding a deflationary spiral"

An article published in the Financial Times argues that although some commentators think that the world economy is about to be devoured by deflation, in fact UK and Eurozone rates are currently at 3 and 1.9 per cent. Jacek Rostowski says that those fearing a self-sustaining depression are mistaken.

First published in the UK edition of the Financial Times, 3 June. The writer, Jacek Rostowski, is professor of economics at the Central European University, Budapest and a trustee of the CASE

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