SOS! Let's prevent Great Depression
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Did you know that the world average inflation decreased from 26% in 1990 to 3.8% in 2005? Is this strong disinflation a precursor of bad deflation? My research will provide insights into our current economic problems and how to stop it from getting worse.
The Project
There are two types of deflations: good and bad. What defines a good deflation and is it indeed good? How does it get transformed into a bad one, which can send entire economies into depressions, and how can we prevent the current recession from turning into another historical chaos?
The answer lies in understanding the long run trend. My goal is to build a historical database of good and bad deflations during the last two hundred years and research transformations from good to bad deflations worldwide. The first step is to properly define good and bad deflations and I will do so by analysing three main channels through which bad deflations wreak havoc on economies, i.e. 1) nominal rigidities, 2) zero lower bound, and 3) debt deflation. In order to understand deflations it is important to turn to history, because deflations were rare in the 20th century but common during the 19th century.
Oxford University, with its extensive archives and resources, is one of the best places in the world to conduct an Economic History research on this topic. This is an ambitious project, but one that I am willing to commit a lifetime in academia to pursue. As a first stage towards this goal, my DPhil thesis at Oxford University will only encompass the analysis of nominal rigidities because I will only be able to fit in that much of my main story into 100,000 words. This thesis will therefore only serve as a stepping stone in my whole research project.
About me
I am a natural learner with an unyielding spirit constantly succeeding against all the odds. I have always reached out towards world of knowledge despite my environment which did not provide the best nurture for girls in terms of education. After leaving Lithuania, I have fought and worked to pay myself through bachelors in Economics at Boston University, and a masters degree in Economic History at the London School of Economics, both of which I have scored distinctions. However, to achieve my goals and become an academic I have a dire need to attain financial support for my doctorate studies.
I have already started my degree, but I need funding in order to continue and to finish it, and move on with my broader research. I believe my project will change the way we view deflations and I would greatly appreciate your support in this journey!
My comitments to you, my dear donors
I am happy to provide a monthly report on the progress of my research. Also, I am planning to provide financial and other support for the researchers in the future who will be in a similar situation that I am now and I will be at a different stage at that point. Good deeds will travel in time.
I am also happy to provide a guided tour of Oxford and Somerville College for you.
Ligita
P.S. The amount of money sought would cover my fees and living expenses from now until the end of my DPhil studies.
The Project
There are two types of deflations: good and bad. What defines a good deflation and is it indeed good? How does it get transformed into a bad one, which can send entire economies into depressions, and how can we prevent the current recession from turning into another historical chaos?
The answer lies in understanding the long run trend. My goal is to build a historical database of good and bad deflations during the last two hundred years and research transformations from good to bad deflations worldwide. The first step is to properly define good and bad deflations and I will do so by analysing three main channels through which bad deflations wreak havoc on economies, i.e. 1) nominal rigidities, 2) zero lower bound, and 3) debt deflation. In order to understand deflations it is important to turn to history, because deflations were rare in the 20th century but common during the 19th century.
Oxford University, with its extensive archives and resources, is one of the best places in the world to conduct an Economic History research on this topic. This is an ambitious project, but one that I am willing to commit a lifetime in academia to pursue. As a first stage towards this goal, my DPhil thesis at Oxford University will only encompass the analysis of nominal rigidities because I will only be able to fit in that much of my main story into 100,000 words. This thesis will therefore only serve as a stepping stone in my whole research project.
About me
I am a natural learner with an unyielding spirit constantly succeeding against all the odds. I have always reached out towards world of knowledge despite my environment which did not provide the best nurture for girls in terms of education. After leaving Lithuania, I have fought and worked to pay myself through bachelors in Economics at Boston University, and a masters degree in Economic History at the London School of Economics, both of which I have scored distinctions. However, to achieve my goals and become an academic I have a dire need to attain financial support for my doctorate studies.
I have already started my degree, but I need funding in order to continue and to finish it, and move on with my broader research. I believe my project will change the way we view deflations and I would greatly appreciate your support in this journey!
My comitments to you, my dear donors
I am happy to provide a monthly report on the progress of my research. Also, I am planning to provide financial and other support for the researchers in the future who will be in a similar situation that I am now and I will be at a different stage at that point. Good deeds will travel in time.
I am also happy to provide a guided tour of Oxford and Somerville College for you.
Ligita
P.S. The amount of money sought would cover my fees and living expenses from now until the end of my DPhil studies.
Organizer
Ligita Visockyte
Organizer