 | Employment and the Great Recession : The Role of Real Wages Author/Editor: Bas B. Bakker. Release Date:October, 2015 This paper argues that the sharp increase in unemployment in a number of advanced countries during the Great Recession was not just cyclical (the result of a lack of aggregate demand); the degree of more...
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| The Rich and the Great Recession Author/Editor: Bas B. Bakker, Joshua Felman. Release Date:December, 2014 Most papers explaining the macro causes of the U.S. Great Recession focus on the behavior of the middle class: how its saving rate declined in the pre-crisis years, then surged following the crisis. more...
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| Conventional and Insidious Macroeconomic Balance-Sheet Crises Author/Editor: Bas B. Bakker, Leslie Lipschitz. Release Date:August, 2014 This paper describes the anatomy of two types of balance-sheet macroeconomic crises. Conventional balance-sheet crises are triggered by external imbalances and balance sheet vulnerabilities. They more...
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