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But in Japan, nearly a generation of deflation has had a much deeper effect, subconsciously coloring how the Japanese view the world.
In one generation of deflation, each tile is replaced with two or more new tiles that are scaled-down versions of tiles used in the original tiling.
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Repeated generations of deflation produce a tiling of the original axiom shape with smaller and smaller tiles.
Just as inflation scarred a generation of Americans, deflation has left a deep imprint on the Japanese, breeding generational tensions and a culture of pessimism, fatalism and reduced expectations.
The least accepted variety of deflation remains general price declines.
Europe faces the spectre of deflation.
Arsenal were a picture of deflation.
He was a product of deflation.
These effects of deflation depress the economy further, which leads to more deflation, and so on.
Long periods of deflation are quite rare.
Fear of deflation has loomed before.
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