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The passage of Russia's “Great Recession” provides an opportunity for academics and policy makers to reflect on policy lessons that could help policy makers deal with future crises, including how to handle the triple challenges — fiscal, financial, and social — in the aftermath of the...
Persistent link: https://www.econbiz.de/10013074061
The protracted recession in the euro area will continue to be a drag on the economic growth of most CESEE countries in 2013. By and large, those countries are small open economies held hostage to the excessive fiscal austerity pursued in the euro area and the sluggish progress on the part of its...
Persistent link: https://www.econbiz.de/10009722030
We investigate the causes of the Finnish Great Depression, 1990-1993. We find that the collapse of the overheated financial and banking sectors starting in 1989 was the trigger of the economic crisis. Foreign shocks, which include the collapse of trade with USSR in 1991, can account for at most...
Persistent link: https://www.econbiz.de/10013045313
The future sustainability of cities is contingent on economic resilience. Yet, urban resilience is still not well understood, as cities are frequently disrupted by shocks, such as natural disasters, economic recessions, or changes in government policies. These shocks can significantly alter a...
Persistent link: https://www.econbiz.de/10013245823
Previous studies have argued that output growth in advanced economies declined during the Great Recession and remained low afterward. This paper proposes a model to explain this slowdown in output growth. We incorporate wealth preferences and downward nominal wage rigidity into a standard...
Persistent link: https://www.econbiz.de/10013289119
Previous studies have argued that output growth in advanced economies declined during the Great Recession and remained low afterward. This paper proposes a model to explain this slowdown in output growth. We incorporate wealth preferences and downward nominal wage rigidity into a standard...
Persistent link: https://www.econbiz.de/10013191262
Persistent link: https://www.econbiz.de/10001450096
Persistent link: https://www.econbiz.de/10001624693
When contemplating Chapter 11, the first step for many firms is to seek financing for their continuing operations in bankruptcy. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor-in-possession (DIP) lenders. These...
Persistent link: https://www.econbiz.de/10012968368
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