The traditional approach to disinflation assumes that people do not change the way they form expectations when monetary policy changes , so that the relation between inflation and unemployment is unaffected by the change in policy .
An alternative view of disinflation is as follows : if the change in monetary policy is credible , expectation formation may change , leading to a smaller increase in unemployment than predicted by the traditional approach .
The drop in euro-zone inflation will be largely caused by disinflation in the peripheral economies , where fiscal austerity and a credit crunch will squeeze wages and prices .
Take disinflation across the quarter , which brought inflation rates below 2 % , combine it with weak nominal output performance and a substantial slowdown in employment growth , and one has to give the fed dismal marks , yet again .
At the same time , disinflation makes it cheaper to borrow in both real and nominal terms .
与此同时,无论是以实际还是名义价值衡量,反通货膨胀都令借贷成本更低廉。
Ultimately , this process turns disinflation into deflation and probably will do so in the us by late 2010 .
最终,这一过程将使通胀减速演变成通缩,美国可能会在2010年底出现这种局面。
If the eurozone is willing to live with close to stagnant overall demand , it will become an arena for beggar-my-neighbour competitive disinflation , with growing reliance on world markets as a vent for surplus .