Introduction

Thomas F. Huertas

A chapter in Crisis: Cause, Containment and Cure, 2010, pp 1-3 from Palgrave Macmillan

Abstract: Abstract In 2009, for the first time in over fifty years, world output declined. At the start of the year economic output was declining at a rate faster than that experienced in the Great Depression. Even though this slide was arrested, the decline in output in the world’s advanced industrial economies in 2009 was nearly 4% (IMF 2009a). In round numbers the fall in output amounted to over $4 trillion.

Keywords: Central Bank; Housing Price; Euro Area; Budget Deficit; Macroeconomic Policy (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-27743-4_1

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DOI: 10.1057/9780230277434_1

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