Inflation or Deflation?

Myron Scholes Global Markets Forum

October 28, 2009, 5:30–7 p.m.

John H. Cochrane discussed his research, which uses the money demand equation and the valuation equation of government debt to understand fiscal and monetary policy in 2008–09, and to think about whether the United States is headed for a large fiscal inflation, and what that inflation will look like. He emphasized that inflation can come well before large deficits or monetization are realized.

This event was part of the Initiative on Global Markets and is generously sponsored by Myron Scholes.

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