Rossi, Vanessa; Reinhart, Carmen M.; Reinhart, Vincent; … - In: Intereconomics 46 (2011) 6, pp. 300-326
In 1937, in the midst of the US recovery from the Great Depression, President Roosevelt implemented spending cuts in pursuit of a balanced budget. Subsequently, the unemployment rate jumped nearly 6 percentage points over the next year and the US economy re-entered a major recession. In the...
