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This book examines the performance of the Brazilian economy since the Great Financial Crisis of 2007/2008 with focus on both the productive and financial dimensions, along with distributional and social issues. The book will bring to light the causes of the fast recovery over 2009-2010 as well...
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of stagnation or low growth. Comparative case studies of the Great Depression, the Latin American debt crisis of the 1980 … prosperity for a long time? The main conclusion is that stagnation after big financial crises becomes likely when the balance …
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, Kehoe, and McGrattan (2007). Our main result is that weak productivity growth cannot account for the experienced stagnation …. Rather, the stagnation is explained by factors that made labor and investment expensive. We show that an increase in labor …
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