Gauging the impact of the Great Recession
The Great Recession of 2007–2009, coming on the heels of a spending binge fueled by a housing bubble, so far has resulted in over $7,300 in foregone consumption per person, or about $175 per person per month. The recession has had many costs, including negative impacts on labor and housing markets, and lost government tax revenues. The extensive harm of this episode raises the question of whether policymakers could have done more to avoid the crisis.
Volume (Year): (2011)
Issue (Month): july11 ()
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References listed on IDEAS
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- Kevin J. Lansing, 2005. "Spendthrift nation," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue nov10.
- Reuven Glick & Kevin J. Lansing, 2011. "Consumers and the economy, part I: Household credit and personal saving," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue jan10.
- Ben S. Bernanke, 2002. "Deflation: making sure "it" doesn't happen here," Speech 530, Board of Governors of the Federal Reserve System (U.S.).
- Reuven Glick & Kevin J. Lansing, 2009. "U.S. household deleveraging and future consumption growth," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue may15.
- Kevin J. Lansing, 2008. "Monetary policy and asset prices," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue oct31.
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