The Financial Crisis and Macroeconomic Activity: 2008-2013

This paper provides estimates of the effects of the fall in financial and housing wealth in 2008-2009 on overall macroeconomic activity. These effects are large and account for a large fraction of the slowdown in activity. Much of the 2008-2009 recession is estimated to be simply standard wealth effects at work.

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Year of publication:	2014-03
Authors:	Fair, Ray C.
Institutions:	Cowles Foundation for Research in Economics, Yale University
Subject:	Financial crisis \| Wealth effects

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Extent:	application/pdf
Series:	Cowles Foundation Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	The price is None Number 1944 38 pages
Classification:	E32 - Business Fluctuations; Cycles ; E37 - Forecasting and Simulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011168889