The Great Depression and the Great Recession: What have we Learned?
AbstractThe Financial Crisis of 2007-2008 and the Great Recession of 2007-2009 are now in the past. Again there was the debt crisis of 2010-11. During the worst of the recent financial crisis/Great Recession many observers made comparisons between that event and the Great Depression. The lecture reevaluates the experience of the two events. Many questions are raised on the lessons and the policies from these events. [Fourth P. R. Brahmananda Memorial Lecture]. URL:[http://rbidocs.rbi.org.in/rdocs/Speeches/PDFs/RBIL09042012.pdf].
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Date of creation: Apr 2012
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Great Depression; recession; Financial Crisis; crisis; real economy; Industrial Production or Unemployment; GDP; industrial production; cluster analysis; real output; financial safety net; product markets; goods; debt crisis; housing sector; banking; monetary policy;
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