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Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...
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This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...
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is likely to decline again in the fourth quarter, output should continue to rise in most of the rest of the world, with … global growth from September by 0.2 percentage points for 2020 and by 0.6 percentage points for 2021. We now expect world … world trade in goods, we expect an increase of 8.8 percent, following a decline of 5.4 percent this year. …
Persistent link: https://www.econbiz.de/10012392680
Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the …
Persistent link: https://www.econbiz.de/10013120079
This work explores how Argentina overcame the Great Depression and asks whether active macroeconomic interventions made any contribution to the recovery. In particular, we study Argentine macroeconomic policy as it deviated from gold-standard orthodoxy after the final suspension of...
Persistent link: https://www.econbiz.de/10013221515
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