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The very great recession: Economic outlook updated for the major developed countries in 2012

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  • Xavier Timbeau

    (Observatoire français des conjonctures économiques)

Abstract

The growth outlook for the developed countries, in Europe in particular, has deteriorated dramatically in recent weeks. The “voluntary and negotiated” devaluation of Greek sovereign debt securities, which is really nothing but a sovereign default, the wave of budget cuts being announced even as the budget bills are still debated, the inability of the European Union to mobilize its forces in the crisis – all these factors render the forecasts made two months ago obsolete. For many European countries,

Suggested Citation

  • Xavier Timbeau, 2012. "The very great recession: Economic outlook updated for the major developed countries in 2012," Sciences Po publications info:hdl:2441/4f6rl0duo69, Sciences Po.
  • Handle: RePEc:spo:wpmain:info:hdl:2441/4f6rl0duo69kkbrnj29h0mqe0h
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    References listed on IDEAS

    as
    1. Bentolila Samuel & Saint-Paul Gilles, 2003. "Explaining Movements in the Labor Share," The B.E. Journal of Macroeconomics, De Gruyter, vol. 3(1), pages 1-33, October.
    2. Jean-Philippe Cotis & Elisabeth Rignols, 1998. "Le partage de la valeur ajoutée : quelques enseignements tirés du « paradoxe franco-américain »," Revue de l'OFCE, Programme National Persée, vol. 65(1), pages 291-344.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Recession ; Growth; Developed countries;

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates

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