search query: @author Hall, R.E. / total: 2
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| Author: | Hall, R.E. |
| Title: | Macro theory and the recession of 1990-1991. |
| Journal: | American Economic Review
1993 : MAY, VOL. 83:2, p. 275-279 |
| Index terms: | RECESSION MACROECONOMICS DOMESTIC PRODUCTION |
| Language: | eng |
| Abstract: | The author consideres the following possible causes of recession: There was a price shock and stabilization policy depressed real output to limit inflation from the shock?. Monetary policy switched to a lower target for nominal growth?. Government purchases of goods and services declined?. Tax rates increased?. There was a negative shock to aggregate technology?. Regulatory changes reduced the intermediation provided by banks?. Changes in the world economy had a negative effect on U.S. output?. There was a spontaneous decline in consumption?. |
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