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The aim of this paper is to study the likely impacts of the Global Financial and Economic Crisis on the Australian labour market. We argue that the impact of the global crisis on the Australian economy is likely to be a continuing increase in unemployment and long term unemployment. The impact...
Persistent link: https://www.econbiz.de/10013150102
The great depression of 1929 and the great financial crisis of 2008 have been the two big events of the last 75 years. Not only have they produced serious economic consequences but they also changed our view of economics and policymaking. The aim of this work is to compare these two great crises...
Persistent link: https://www.econbiz.de/10011412358
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The current crisis is like an earthquake for the theoretical foundations of economic policies, which have guided governments and central banks for the last few decades. The efficient market hypothesis and its application to labor markets –“natural rate theory”- dominated interpretations of...
Persistent link: https://www.econbiz.de/10008651698
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Recent research has provided strong circumstantial evidence for the proposition that sustained deflation -- the result … mechanism by which deflation led to depression. In this paper we consider several channels, including effects operating through … real wages and through interest rates. Our focus, however, is on the disruptive effect of deflation on the financial system …
Persistent link: https://www.econbiz.de/10012475539
Recent research has provided strong circumstantial evidence for the proposition that sustained deflation -- the result … mechanism by which deflation led to depression. In this paper we consider several channels, including effects operating through … real wages and through interest rates. Our focus, however, is on the disruptive effect of deflation on the financial system …
Persistent link: https://www.econbiz.de/10013308620
Persistent link: https://www.econbiz.de/10014312509
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