But when populations shrink, overinvestment gets worse over time, creating a deflationary spiral.
Unlimited Swiss buying of euros could push up the single currency, adding to deflationary pressures in the region.
It is rather like a game of deflationary "pass the parcel" in which the loser is whoever gets landed with the strongest currency.
Mr Edwards and his team have long propagated their "Ice Age" thesis, in which deflationary pressures drive down the valuation of equities relative to government bonds, as occurred in Japan.
While everyone seems to think that flexible exchange rates are the answer to small volatilities, no one has been able to deal effectively with the problem of competing devaluations that are creating a huge deflationary cycle in Asia.
DE Roquefort's voice had a calculating and deflationary effect.
The simplicity of the solution, however, is not easily achieved once deflationary momentum takes hold.
Prices would move toward the inflation target of 2 percent, removing the threat of a deflationary spiral.
Mr Shirakawa is among those in the BoJ who have been sceptical of the merits of quantitative easing, which it used during the deflationary years between 2001 and 2006.
Price cutting. In a deflationary period, people love bargains.
But Japan cannot get out of the deflationary mess if the yen keeps strengthening.
Japan must obviously see to the rebuilding of critical infrastructure, but should be careful not to overbuild, as that would reinforce deflationary pressures.
Joining the euro may have allowed Italy to borrow at lower rates than under the lira, but it also denied Rome the deflationary options to raise earnings though exports and tourism.
With the dawning realization of what he had done, he was back on the deflationary tack.
Analysts did not expect the BoJ, which had earlier predicted three years of falling prices, to move on rates for as long as deflationary pressures continue.
Pursue a deflationary policy (the policy of deflation)
Because the alternative - unleashing deflationary forces stored up over years of mercantilist policies - would be too painful to contemplate.
However, that still left a deflationary gap of over 5% of GDP, which threw the Irish economy into the deflationary spiral.
They looked at the repeated attempts by the Bank of Japan to pull its economy out of a deflationary mindset and concluded that other central banks might prove equally impotent.
1. The introduction of pro-active fiscal policies during deflationary period could provide an effective and immediate impetus to the growth of economy.
a deflationary policy, measure, etc
But it does suggest that investors cannot afford to put all their eggs in the deflationary basket.
Unfortunately, the monetary unit of measurement is not a stable measure in times of inflationary or deflationary price changes.
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