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The Great Recession
Market Failure Or Policy Failure?
- Editore:
Cambridge University Press
- Collana:
- Studies In Macroeconomic History
- EAN:
9781107459601
- ISBN:
1107459605
- Pagine:
- 400
- Formato:
- Paperback
- Lingua:
- Inglese
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Descrizione The Great Recession
The 2008–9 recession destroyed the professional consensus about the kinds of models required to understand cyclical fluctuations, reviving credit-cycle explanations of recession that dominated nineteenth- and early twentieth-century thinking. These 'market-disorder' views emphasize excessive risk taking in financial markets and the need for government regulation.
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