The aftermath of financial crises: It doesn't have to be that bad

April 3, 2014

In the wake of the 2008 crisis, many have concluded that financial crises inevitably lead to prolonged, terrible recessions. But in fact, there have been a wide range of experiences throughout history. How much countries suffer depends crucially on the policies governments adopt. This examination of history has implications for what Europe and other areas should do today, and for what policies should be used in future crises.

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