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This essay reviews Barry Eichengreen's recent book that compares the Great Depression and the Great Recession. Eichengreen focuses on deficient aggregate demand as the key reason for why both downturns were so deep and why they lasted so long. I assess the book's arguments regarding the causes...
Persistent link: https://www.econbiz.de/10012992625
This essay reviews Barry Eichengreen's recent book that compares the Great Depression and the Great Recession. Eichengreen focuses on deficient aggregate demand as the key reason for why both downturns were so deep and why they lasted so long. I assess the book's arguments regarding the causes...
Persistent link: https://www.econbiz.de/10012456436
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theory, which predicts a strong recovery with low real wages. We evaluate the contribution to the persistence of the …
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