A Smarter Bailout Could Have Shortened the Recession
We are, as they say, live:
Policy did not respond optimally to our "balance sheet recession." Though I didn't talk about this in the column, it's looking like we have a very slow recovery ahead of us, so it's not too late to do something about this and speed the recovery. We won't do anything of course, the current political environment won't allow it, but hopefully we can still learn something and improve policy the next time a balance sheet recession hits the economy.
Posted by Mark Thoma on Tuesday, December 21, 2010 at 10:17 AM in Economics, Fiscal Policy, Fiscal Times |
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