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Towards a General Theory of Deep Downturns

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NBER2015-08-01 更新2025-01-04 收录
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This paper, an extension of the Presidential Address to the International Economic Association, evaluates alternative strands of macro-economics in terms of the three basic questions posed by deep downturns: What is the source of large perturbations? How can we explain the magnitude of volatility?

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2015-08-01
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