Lecciones de la Crisis de los 30´s Útiles en el 2009

Sacadita del horno, esta interesante presentación de C. Romer hoy en el Brookings Institution

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Lessons from the Great Depression for Economic Recovery in 2009
Christina D. Romer
Council of Economic Advisers

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One crucial lesson from the 1930s is that a small fiscal expansion has only small effects.

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A second key lesson from the 1930s is that monetary expansion can help to heal an economy even when interest rates are near zero.

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This discussion of fiscal and monetary policy in the 1930s leads me to a third lesson from the Great Depression: beware of cutting back on stimulus too soon.

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The fourth lesson we can draw from the recovery of the 1930s is that financial recovery and real recovery go together

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The fifth lesson from the Great Depression is that worldwide expansionary policy shares the burdens and the benefits of recovery.

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The final lesson that I want to draw from the 1930s is perhaps the most crucial. A key feature of the Great Depression is that it did eventually end.