In No Way Out: Persistent Government Interventions in the Great Contraction, editor Vincent R. Reinhart brings together an array of professional and academic authors to generate a narrative of the 2007–08 financial crisis, its causes, and likely recurrences.

This paper examines the behavior of real GDP (levels and growth rates), unemployment, inflation, bank credit, and real estate prices in a twenty one-year window surrounding selected adverse global and country-specific shocks or events. The episodes include the 1929 stock market crash, the 1973...

We identify the major public debt overhang episodes in the advanced economies since the early 1800s, characterized by public debt to GDP levels exceeding 90% for at least five years. Consistent with Reinhart and Rogoff (2010) and other more recent research, we find that public debt overhang...

In No Way Out: Persistent Government Interventions in the Great Contraction, editor Vincent R. Reinhart brings together an array of professional and academic authors to generate a narrative of the 2007–08 financial crisis, its causes, and likely recurrences.

We identify the major public debt overhang episodes in the advanced economies since the early 1800s, characterized by public debt to GDP levels exceeding 90 percent for at least five years. Consistent with Reinhart and Rogoff (2010) and most of the more recent research, we find that public debt...