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How Keynesian policies would not have worked then, and why they will not work nowExecutive SummaryAs calls for Plan B mount, it is increasingly being suggested that the UK is making the same mistakes as in the Great Depression of the 1930s by not expanding fiscal policy. This paper demonstrates...
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The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed. This paper develops a model of the Chinese economy using a DSGE framework with a banking sector to shed light on this episode. It differs from other applications in the use of...
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