DP9321 Financial Shocks, Unemployment, and Public Policy
|Publication Date:||January 2013|
|Keyword(s):||DSGE models, financial shocks, fiscal policy, macroeconomics, quantitative easing, unemployment|
|JEL(s):||E30, E44, E60|
|Programme Areas:||International Macroeconomics|
|Link to this Page:||cepr.org/active/publications/discussion_papers/dp.php?dpno=9321|
This paper is based on presentation given at the June 2011 Conference of the Centre for Growth and Business Cycle Research at the University of Manchester. It reviews key features of the 2007-08 financial crisis, the subsequent 'great recession' and the European public debt problems; in the light of these it discusses new avenues of research that have been opened up in response to recent events.