In their book This Time Is Different, Carmen Reinhart and Kenneth Rogoff conclude: An examination of the
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In their book This Time Is Different, Carmen Reinhart and Kenneth Rogoff conclude: “An examination of the aftermath of severe postwar financial crises shows that they have had a deep and lasting effect on asset prices, output, and employment.” Why should a recession accompanied by a financial crisis be more severe than a recession not accompanied by a financial crisis?
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Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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