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What Happened: Financial Factors in the Great Recession
At the onset of the recent global financial crisis, the workhorse macroeconomic models assumed frictionless financial markets. These frameworks were thus not able to anticipate the crisis, nor to analyze how the disruption of credit markets changed what ...
M. Gertler, Simon Gilchrist
semanticscholar +1 more source
Young entrepreneurs’ trust during the recession: Evidence from Serbia [PDF]
This paper deals with the influence of positive trust on business activities, entrepreneurship development, and economic growth. During the global recession, institutions make numerous decisions to find answers to the crisis that influence the ...
Babić Vojislav, Zarić Siniša
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Employment Hysteresis from the Great Recession
This paper uses US local areas as a laboratory to test for long-term impacts of the Great Recession. In administrative longitudinal data, I estimate that exposure to a 1 percentage point larger 2007–9 local unemployment shock reduced 2015 working-age ...
Danny Yagan
semanticscholar +1 more source
Why Wages Don't Fall during a Recession
A deep question in economics is why wages and salaries don't fall during recessions. this is not true of other prices, which adjust relatively quickly to reflect changes in demand and supply.
T. Bewley
semanticscholar +1 more source
The Great Recession and Mental Health in the United States
The full scope of the impact of the Great Recession on individuals’ mental health has not been quantified to date. In this study we aimed to determine whether financial, job-related, and housing impacts experienced by individuals during the recession ...
M. Forbes, R. Krueger
semanticscholar +1 more source
Ecolabels and the economic recession
We examine the effect of the 2008 economic recession on consumers’ observed expenditures for eco-labelled grocery products. Traditional price theory predicts that consumers change their spending during an economic downturn and we would expect the sales share of eco-labelled products to fall since these are relatively more expensive than non-labelled ...
Jibonayan Raychaudhuri, Ada Wossink
openaire +7 more sources
Trade and the Global Recession [PDF]
We develop a dynamic multicountry general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multisector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of shocks. Applying the model to 21 countries, we investigate the
Jonathan Eaton+6 more
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The Relationship between the Current World Crisis and Global Imbalances [PDF]
The world economy currently experiencing the largest decline in the postwar period, dominated by a financial crisis that swept in a record time around the world.
Rozalia NISTOR+2 more
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Escaping the Great Recession [PDF]
We show that policy uncertainty about how the rising public debt will be stabilized accounts for the lack of deflation in the US economy at the zero lower bound. We first estimate a Markov-switching VAR to highlight that a zero-lower-bound regime captures most of the comovements during the Great Recession: a deep recession, no deflation, and large ...
Bianchi, F, Melosi, L
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