donderdag 29 oktober 2009

Financial crises are different! Refining the Reinhart-Rogoff estimates

Is the current turmoil unique? This column examines three decades of financial crises and says that it stands out. But the variation in past experiences suggests that the major economies may regain their pre-crisis levels of output by the second half of 2010.
Read this article from Cecchetti et al. on Vox.eu here.

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