Klassen, Theodore - In: European journal of economics and economic policies : … 21 (2024) 1, pp. 73-89
three cycles, it failed to re-establish an export-led regime in the post-GFC period due to decreased non …-price competitiveness. Instead, the post-GFC combination of low real interest rates, which encouraged the accumulation of private debt and … fiscal policy, which ex post did not address the negative financial balances of the household sector, supported the turn to …