In theory, by depressing aggregate demand, the combination of increased real debt and higher real interest rates could lead to further price declines, leading to even larger negative inflation rates. As a result, the real interest rate would rise further, pushing the economy deeper into a downward spiral of falling prices and declining demand.
理论上，真实债务增加和真实利率升高的合力通过抑制总需求导致价格的进一步下跌，带来更严重的负通胀率。结果，真实利率将进一步上升，将经济推入更深的物价和需求的下降螺旋。