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Can conventional theory explain the unconventional recovery?


  • David E. Altig
  • Michael F. Bryan


An argument that the sluggishness of the current economic recovery reflects a permanent, structural change in the economy that may not be easily addressed using the standard monetary/fiscal incentives called for in the conventional view of business cycles, and that structural adjustment is a critical component of all economic fluctuations.

Suggested Citation

  • David E. Altig & Michael F. Bryan, 1992. "Can conventional theory explain the unconventional recovery?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Apr.
  • Handle: RePEc:fip:fedcec:y:1992:i:apr15

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    Cited by:

    1. Erica L. Groshen & Donald R. Williams, 1992. "White-and-blue-collar jobs in the recent recession and recovery: who's singing the blues?," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 2-12.
    2. William E. Cullison, 1992. "The case of the reluctant recovery," Economic Review, Federal Reserve Bank of Richmond, issue Jul, pages 3-13.


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