Explain the potential link between innovations in fi nancial markets and output volatility since the 1980s. You

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Explain the potential link between innovations in fi nancial markets and output volatility since the 1980s. You should consider both the “Great Moderation” and the recession of 2007–2009 in your answer.

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Money Banking And Financial Markets

ISBN: 9780073375908

3rd Edition

Authors: Stephen Cecchetti, Kermit Schoenholtz

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