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"A historical account of the Great Recession, including the causes of the economic downturn, the role played by the Federal Reserve and other government offices, and the lingering aftermath"-- Includes bibliographical references and index
13 lis 2022 · The Great Recession was a period of severe economic hardship that began in late 2007 and ended in mid-2009. It was caused by the collapse of the U.S. housing market and the subsequent financial crisis.During the Great Recession, many people lost their jobs or had their hours cut back.
14 lut 2024 · "The severity of the Great Recession and the subsequent stagnation caught many economists by surprise. But a group of Keynesian scholars warned for some years that strong forces were leading the US toward a deep, persistent downturn.
Starting in mid-2007, the global financial crisis quickly metamorphosed from the bursting of the housing bubble in the US to the worst recession the world has witnessed for over six decades. Through an in-depth review of the crisis in terms of the causes, consequences and policy responses, this paper identifies four key messages.
It provides a classic test case concerning macroeconomic instability, the institutional and financial structures that affect macroeconomic stability and growth, and the impacts of unemployment and recession.
This paper evaluates the role of the construction sector in accounting for the per-formance of the U.S. economy before, during and after the Great Recession. We use input-output analysis to evaluate its linkages with the rest of the economy and measure the transmission of its demand shocks to the overall economy.
The Great Recession struck individuals, the aggregate economy and the economics profession like an earthquake, and its aftershocks are still being felt. Job losses and housing foreclosures devastated many families. National economies were deeply damaged and have yet to fully recover.
