A New 'Lehman Moment,' or Something Worse? A Scenario of Hitting the Debt Ceiling
The United States entered the second week of a government shutdown on Monday, with no end to the deadlock in sight. The cost to the government of a similar shutdown in 1995-96 amounted to $2.1 billion in today's dollars. However, the cost and broader consequences of today's shutdown are not yet clear--especially since the US economy is in the midst of an anemic recovery from the biggest economic crisis of the last eight decades.
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- Dimitri B. Papadimitriou & Greg Hannsgen & Michalis Nikiforos, 2013. "Is the Link between Output and Jobs Broken?," Economics Strategic Analysis Archive sa_mar_13, Levy Economics Institute.
- Michalis Nikiforos, 2013. "Employment Recovery? after the Great Recession," Economics Policy Note Archive 13-03, Levy Economics Institute.
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