Global Economic Crisis

Global Economic Crisis

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In 2008, the global economy experienced the most severe crash since World War II. A sharp collapse in international trade followed, leaving no country on the globe immune to a sequence of economic shocks. This timely book explores many of the key issues raised in the wake of the global economic crisis and provides an in-depth analysis of crisis transmission to emerging markets. The expert contributors compare the recent crisis with earlier crises, explore international aspects of the crisis from the perspectives of markets and trade, and examine macroeconomic policy responses. In so doing, they address important questions including: How did this crisis differ from those suffered previously? How and why did flaws in financial markets contribute to the crisis? How important were global imbalances and global overheating in explaining the global meltdown? Did different pre-crisis fundamentals generate different post-crisis performances? And, how severe were the economic shocks to countries such as Korea and other emerging economies? Academics, students and policymakers in the fields of economics, international economics, finance money and banking and Asian studies will find this book to be a thought-provoking and stimulating read.Impacts, Transmission and Recovery Maurice Obstfeld, Dongchul Cho, Andrew Mason ... This is obviously a long run condition since, in the short run, prices are predetermined. Equation (6.2) is ... Points to the right of the BB curve indicate deficits, while points to the right of the YY curve indicate output in excess of potential.

Title:Global Economic Crisis
Author:Maurice Obstfeld, Dongchul Cho, Andrew Mason
Publisher:Edward Elgar Publishing - 2012-01-01


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