Sacadita del horno, esta interesante presentación de C. Romer hoy en el Brookings Institution
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Lessons from the Great Depression for Economic Recovery in 2009
Christina D. Romer
Council of Economic Advisers
Lessons from the Great Depression for Economic Recovery in 2009
Christina D. Romer
Council of Economic Advisers
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One crucial lesson from the 1930s is that a small fiscal expansion has only small effects.
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A second key lesson from the 1930s is that monetary expansion can help to heal an economy even when interest rates are near zero.
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This discussion of fiscal and monetary policy in the 1930s leads me to a third lesson from the Great Depression: beware of cutting back on stimulus too soon.
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The fourth lesson we can draw from the recovery of the 1930s is that financial recovery and real recovery go together
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The fifth lesson from the Great Depression is that worldwide expansionary policy shares the burdens and the benefits of recovery.
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The final lesson that I want to draw from the 1930s is perhaps the most crucial. A key feature of the Great Depression is that it did eventually end.
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