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The Great Recession: A Self-Fulfilling Global Panic

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NBER2013-05-01 更新2025-01-04 收录
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While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account for

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2013-05-01
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