From Great Depression to Great Recession: The elusive quest for international policy cooperation published by IMF (3/2017). “The global financial crisis and the ensuing Great Recession raised concerns about adjustment fatigue, deflation, currency wars, and secular stagnation that presented a sense of déjà vu: similar concerns had arisen at the time of the Great Depression and at the end of World War II. As with earlier crises, these concerns prompted calls for greater international policy cooperation – both to achieve a sustainable recovery from the crisis and to prevent future crises…”
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