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Why might it take longer for an economy to bounce back from a 'balance sheet recession' (i.e. a recession that is preceded by the bursting
Why might it take longer for an economy to bounce back from a 'balance sheet recession' (i.e. a recession that is preceded by the bursting of an asset price bubble which damages private sector balance sheets) than from a normal recession? What role is played by the policy toward the restructuring of insolvent banks
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