The Deflation Battle Begins.

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    • Subject Terms:
      JAPAN; UNITED States; GERMANY; FRANCE
    • Abstract:
      Discusses the possibility that deflation may occur in major economies around the world following the Iraq War. Efforts of the U.S., France, Germany, and Japan to combat deflation; Rising unemployment in the industrialized world; Failure of attempts to stimulate growth; Financial support to small and medium-sized companies that the Bank of Japan has provided; Perceived willingness of the U.S. Federal Reserve to keep long-term rates low; Decision of the European Central Bank to cut short-term interest rates; Falling prices in Japan.