Godley, Wynne; Papadimitriou, Dimitri B.; Zezza, Gennaro - Levy Economics Institute - 2007
The collapse in the subprime mortgage market, along with multiple signals of distress in the broader housing market, has already drawn forth a large body of comment. Some people think the upheaval will turn out to be contagious, causing a major slowdown or even a recession later in 2007. Others...