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A detailed and informed analysis of the current crisis facing the eurozone, examining the root causes and exploring the …
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Introduction -- Origins of the Great Recession -- The theoretical framework that underpins the origins of the Great Recession -- Too much liquidity : the source of the trouble -- Anaemic recovery : the US housing market and the consumer -- Anaemic recovery : the vicious circle of consumption and...
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trade-off between inflation variability and output-gap variability. We employ a stochastic volatility model for the whole …
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argument of this paper that the eurozone will face considerable economic difficulties. These difficulties will take a number of … crisis including the volatility and subsequent collapse of asset prices and runs on the banking system. There may be some …
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