The U.S. Recession Paul Gregory Hoover Institution, Stanford University of Houston
Issues <ul><li>Causes – housing bust and net worth </li></ul><ul><li>Failure of regulation? </li></ul><ul><li>Wall Street ...
 
Why Not a “Normal” Recession? <ul><li>Say financial crises take longer to resolve </li></ul><ul><li>Never faced with such ...
End of the Keynesian Consensus? <ul><li>Obama argument: Would have been worse </li></ul><ul><li>John Taylor: failure for w...
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Paul Gregory's presentation

  1. 1. The U.S. Recession Paul Gregory Hoover Institution, Stanford University of Houston
  2. 2. Issues <ul><li>Causes – housing bust and net worth </li></ul><ul><li>Failure of regulation? </li></ul><ul><li>Wall Street excesses? </li></ul>
  3. 4. Why Not a “Normal” Recession? <ul><li>Say financial crises take longer to resolve </li></ul><ul><li>Never faced with such a dire situation before </li></ul><ul><li>Changing institutions in lending market </li></ul><ul><li>Massive Keynesian stimulus and debt </li></ul>
  4. 5. End of the Keynesian Consensus? <ul><li>Obama argument: Would have been worse </li></ul><ul><li>John Taylor: failure for well known reasons </li></ul>
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