Reconstructing the Great Recession

Michele Boldrin

No 1038, 2012 Meeting Papers from Society for Economic Dynamics

Abstract: This paper uses a simple general equilibrium models with residential investment and input-output structure to illustrate the effects of demand shocks in the productive economy. A decline in the demand for homes generates a readjustment of the portfolio, and a decline in the demand of intermediate inputs, this depreoves the real side of the economy and generates a significant decline in employment and real activity. The effects are significant even when the shock is transitory.

Date: 2012
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Related works:
Journal Article: Reconstructing the Great Recession (2020)
Working Paper: Reconstructing the great recession (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed012:1038

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