What Caused the Great Recession?

Homburg Stefan ()
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Homburg Stefan: School of Economics and Management, Leibniz University of Hannover, Germany

Review of Economics, 2015, vol. 66, issue 1, 1-12

Abstract: This paper examines five possible explanations for the Great Recession of 2008 and 2009, using data for the United States and the eurozone. Of these five hypotheses, four are not supported by the data, while the fifth appears reasonable.

Keywords: Financial crisis; Great Recession; wealth effect; credit crunch; money demand; central bank; Financial crisis; Great Recession; wealth effect; credit crunch; money demand; central bank (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1515/roe-2015-0102

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