Banerji, Anirvan; Layton, Allan P.; Achuthan, Lakshman - In: Applied Economics 44 (2012) 16, pp. 2051-2063
By mid-2008 the world was witnessing the unfolding of a relatively rare macroeconomic phenomenon, namely, the onset of what one might call a synchronized international -- or ‘world’ -- recession. But what exactly is a ‘synchronized world recession’? This article proposes a practical...