Inception of the Global Crisis in the USA

Dilip M. Nachane
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Dilip M. Nachane: Indira Gandhi Institute of Development Research

Chapter Chapter 5 in Critique of the New Consensus Macroeconomics and Implications for India, 2018, pp 109-140 from Springer

Abstract: Abstract The recent global crisis which originated in the USA in 2007, and then rapidly spilled over to the rest of the world has had profound implications for economic theory and policy. This chapter delves into the causes of the extent and severity of the crisis. In particular, we try to understand the factors responsible for triggering and perpetuating the crisis in the USA. The latter portion of the chapter is devoted to an evaluation of the policies undertaken by the US Fed and Treasury to control the crisis especially QE (quantitative easing) and fiscal stimuli.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-81-322-3920-8_5

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DOI: 10.1007/978-81-322-3920-8_5

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