Why Some Times Are Different: Macroeconomic Policy and the Aftermath of Financial Crises
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Analysis based on a new measure of financial distress for 24 advanced economies in the postwar period shows substantial variation in the aftermath of financial crises. This paper examines the role that macroeconomic policy plays in explaining this variation. We find that the degree of monetary and
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美国国家经济研究局创建时间：
2017-10-01
