Strengthening the Resilience of an Economy: Enlarging the Menu of Stabilisation Policy to Prevent Another Crisis

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Series Details Vol.44, No.5, September-October 2009, p309-316
Publication Date September 2009
ISSN 0020-5346
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The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions’ exposure to the actual initial causes, among them the subprime crisis, innovative financial products, dubious microeconomic incentives, inefficient regulation and macroeconomic imbalances.

The analysis in this article asks how national economic structures can be made more resilient to a shock (be it a financial crisis or another turbulence) and how economic policy can act in order to stabilise the economy before and after such a shock.

[Full text of articles can be found in the Intereconomics Archive two years after the initial publication]

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