Questions tagged [great-recession]

The Great Recession refers to the economic downturn in late 2000s after the bursting of the U.S. housing bubble and the resulting global financial crisis.

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If companies could reduce prices to bring up demand during a recession, then why there is less production/output and more unemployment

When consumer demand reduces, and if companies could reduce prices to bring up demand during a recession, then why there is less production/output and more unemployment during a recession?
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Were there any contemporary economists (or other observers) who considered the 1920s a “New Era” of greater growth and stability?

Eichengreen (2015, Hall of Mirrors): In the 1920s it was said that the world had entered a “New Era” of economic stability with the establishment of the Federal Reserve System and independent central ...