social policytaxationThis paper provides an overview of the initial crisis responses to the coronavirus pandemic and asks whether and how both the nature of the COVID crisis and the national responses to this differ from those witnessed during the Great Recession. We argue that the speed and ...
In response to a changing global situation and the expectations of the international community, and with the future and overall interests of humanity in mind, China proposed the Belt and Road Initiative (BRI). Committed to the Silk Road spirit, a great heritage of human civilization, the BRI c...
The Great Recession of 2008–09: Causes, Consequences and Policy Responses The historical perspective provided in chapter 1 on the decades leading up to the financial crisis shows that the global economy was by no means as stable ... I Islam,S Verick - Palgrave Macmillan UK 被引量: 112...
The Great Recession that started in 2008 has drawn constant comparisons with the Great Depression that unfolded in 1929. This paper documents how the response of policy makers in the current episode has been markedly different from the one observed in the 1920s and 1930s and to what extent thi...
To view the Crash of 2008 as an isolated event, or to see it as a uniquely American phenomenon, is to see it falsely. It has much deeper historical, structural, and international roots. This chapter argues that the economic and market collapses of 2008 m
But the strength of the recovery was not entirely due to the unique nature of the recession. The exceptional policy response played a key role. Early in the crisis, it helped firms and households withstand an unprecedented loss of income and forestalled serious financial disruptions. This paved ...
so doing, Christine Varney, Assistant Attorney General in charge of the Antitrust Division, claimed that President Bush’s Section 2 policy was insufficiently interventionist and partly responsible for the Great Recession. In particular, Ms. Varney singled out the Bush Administration’s conclusion that...
On the Time‐Varying Effects of Economic Policy Uncertainty on the US Economy We find three different regimes, which match the three major periods of the US economy, namely the Great Inflation, the Great Moderation and the Great Recession. The initial impact on real GDP ranges between 0.2% for...
The response of monetary policy to the Great Depression and the Great Recession differed greatly, and is reflected in several dimensions that in part suggest different perspectives on how to gauge the stance of monetary policy. From a monetarist perspective, central banks should, at a minimum, sus...
Economic Policy Uncertainty and the Great Recession Luca Benati University of Bern∗ Abstract I use Bayesian time-varying parameters structural VARs with stochastic volatility, and two alternative identification schemes, to explore the role played by policy uncertainty shocks within the context of the ...