Deflation, Globalization, and the New Paradigm of Monetary Economics

The Japanese Ministry of Finance held the fourth session of the Council on Customs, Tariff, Foreign Exchange and Other Transactions on April 16, 2003.
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Joseph Stiglitz was invited to be the keynote presenter on the topic of deflation and globalization. The copy of his speech is provided.

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Stiglitz is a recipient of the Nobel Memorial Prize in Economic Sciences and the John
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