Understanding the Great Recession is popular PDF and ePub book, written by Board of Governors of the Federal Reserve System in 2015-03-10, it is a fantastic choice for those who relish reading online the History genre. Let's immerse ourselves in this engaging History book by exploring the summary and details provided below. Remember, Understanding the Great Recession can be Read Online from any device for your convenience.
Understanding the Great Recession Book PDF Summary
We argue that the vast bulk of movements in aggregate real economic activity during the Great Recession were due to Önancial frictions interacting with the zero lower bound. We reach this conclusion looking through the lens of a New Keynesian model in which Örms face moderate degrees of price rigidities and no nominal rigidities in the wage setting process. Our model does a good job of accounting for the joint behavior of labor and goods markets, as well as ináation, during the Great Recession. According to the model the observed fall in total factor productivity and the rise in the cost of working capital played critical roles in accounting for the small size of the drop in ináation that occurred during the Great Recession.
Detail Book of Understanding the Great Recession PDF
- Author : Board of Governors of the Federal Reserve System
- Release : 10 March 2015
- Publisher : CreateSpace
- ISBN : 1508806381
- Genre : History
- Total Page : 46 pages
- Language : English
- PDF File Size : 8,8 Mb
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