Found 8 article(s) for author 'Economic recovery'

How to Address Venezuela’s Crushing Debt Burden

How to Address Venezuela’s Crushing Debt Burden. Ricardo Hausmann, July 10, 2019, Opinion, “The legacy of Chávismo includes a mountain of foreign-currency-denominated claims against the Venezuelan public sector, totaling $150 billion, almost all of which is now in default. When Nicolás Maduro finally leaves power, how can these claims be settled while meeting the country’s desperate need for humanitarian relief and economic recovery?Link

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The US Recovery Turns Ten

The US Recovery Turns Ten. Jeffrey Frankel, June 14, 2019, Opinion, “The best explanation for the current ten-year US economic expansion – tied for the longest since 1854 – is disappointingly simple: the Great Recession was the worst downturn since the 1930s. And if the dates of American business cycles were determined by the rule that most other countries apply, the current expansion would be far from beating the record.Link

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Responding to the Global Financial Crisis, What We Did and Why We Did It

Responding to the Global Financial Crisis, What We Did and Why We Did It – The Fiscal Response to the Great Recession: Steps Taken, Paths Rejected, and Lessons for Next Time. Jason Furman, September 11, 2018, Paper, “The fiscal response to the Great Recession started when President Bush signed the Economic Stimulus Act of 2008 on February 13, 2008 and finished when the payroll tax cut enacted under President Obama expired at the end of 2012. Congress enacted at least 18 different laws that explicitly included discretionary fiscal stimulus totaling over $1.5 trillion during those five years, with about half of that coming from the American Recovery and Reinvestment Act signed into law by Obama on February 17th 2009.2LInk

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The Slow Recovery in Output after 2009

The Slow Recovery in Output after 2009. James Stock, 2017, Paper, “The U.S. economy has been expanding slowly since the recession trough in 2009. Though unemployment has declined at about the same rate as in previous recoveries, output has grown much more slowly than in the past. We explore explanations for the shortfall in output growth, using a quantitative decomposition based on growth economics. Two components of the decomposition stand out: slow growth in productivity, and a growing shortfall of labor-force participation relative to its demographic determinants. The slow growth in both components predated the recession. Our analysis gives a full treatment to cyclical effects.Link

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Recovery is Not Resolution

Recovery is Not Resolution. Carmen Reinhart, August 1, 2017, Opinion, “Earlier this year, the consensus view among economists was that the United States would outstrip its advanced-economy rivals. The expected US growth spurt would be driven by the economic stimulus package described in President Donald Trump’s election campaign. But the most notable positive economic news of 2017 among the developed countries has been coming from Europe.Link

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Carmen Reinhart Interview — Policy Measure for Accelerating Financial Recovery

Carmen Reinhart Interview — Policy Measure for Accelerating Financial Recovery. Carmen Reinhart, May 30, 2015, Video. “Carmen Reinhart is the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously she was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Professor of Economics and Director of the Center for International Economics at the University of Maryland. She has written and published on a variety of topics in macroeconomics and international finance and trade including: international capital flows, exchange rates, inflation and commodity prices, banking and sovereign debt crises, currency crashes, and contagion. In this video, she talks about policy measures for accelerating the financial recovery…” Link

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Transfer payments and monetary expansion

Transfer payments and monetary expansion. Robert Barro, 2014, Paper. “The economic recovery since the end of the Great Recession in 2009 has been weak in the United States and elsewhere. The average growth rate of U.S. real GDP since 1948 was 3.2 percent per year. In the recession from 2007 Q3 to 2009 Q1, GDP fell by 4.3 percent. But this decline is 9 percent when gauged relative to trend; that is, after factoring in normal growth. To make up for this shortfall, the subsequent recovery has to attain growth rates averaging above 3.2 percent for several years. As an example, the GDP growth rate averaged 4.4 percent per year from 1983 to 1989…” Link

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