Subsequent Developments
Debt deflation has been studied and developed largely in the Post-Keynesian school.
The Financial Instability Hypothesis of Hyman Minsky, developed in the 1980s, complements Fisher's theory in providing an explanation of how credit bubbles form: FIH explains how bubbles form, while DD explains how they burst and the resulting economic effects. Mathematical models of debt deflation have recently been developed by Australian post-Keynesian economist Steve Keen.
Read more about this topic: Debt Deflation
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