Great recession, slow recovery and muted fiscal policies in the US
This paper reconsiders the role of macroeconomic shocks and policies in determining the Great Recession and the subsequent recovery in the US. The Great Recession was mainly caused by a large demand shock and by the ZLB on the interest rate policy. In contrast with previous findings, the subsequent...
|Place of publication:||
Elsevier B.V 01.08.2017
|published in:||Journal of economic dynamics & control Vol. 81; pp. 140 - 161|
|Data of publication:||August 2017|
|Online Access:||available in Bonn?|
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