Titlebook: Crisis: Cause, Containment and Cure; Thomas F. Huertas Book 2010 Palgrave Macmillan, a division of Macmillan Publishers Limited 2010 depre

abnegate

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Counteract

Introductionhat experienced in the Great Depression. Even though this slide was arrested, the decline in output in the world’s advanced industrial economies in 2009 was nearly 4% (IMF 2009a). In round numbers the fall in output amounted to over $4 trillion.

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语言学

Too Much of a Good Thingitude of the subsequent contraction.. Finance built a superstructure based on two assumptions that would prove to be flawed: first, that recessions were a thing of the past (an assumption that markets shared with policymakers [see Chapter 1]), and second, that there would always be too much liquidit

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Conditional Containment did inflationary pressures, especially from commodity prices. This economic environment conditioned containment of the crisis. Unlike prior crises in 1987, 1998 and 2001 the authorities did not counter the crisis with immediate reductions in short-term interest rates. The authorities kept interest

uncertain

Moving towards Meltdownrgest participants in equity and fixed income markets around the world. It had nearly $700 billion of liabilities to firms and individuals around the world. It was counterparty to practically every major financial institution. It had hundreds of thousands of trades due to settle in the US, UK and ot

DUCE

Better Macroeconomic Policyre crises. In the first years of the twenty-first century macroeconomic policymakers had effectively assumed that the financial intermediaries would function as passive transmitters of policy measures to the broader economy. Indeed, monetary policymakers’ economic models usually made little or no re

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