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The Effects Of The Economic Crisis On The Older Population

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Executive Summary

The financial crisis that unfolded so rapidly in the latter part of 2008 developed into a recession that stands out from other recessions of the post-World War II era in several important ways. First, and above all, the size of the swings in the economic environment were unequalled since the Great Depression. Second, the crisis has affected several markets simultaneously (housing, stock and labor market), consequently providing a number of channels through which individuals and their households might be affected. The economic crisis and the subsequent increase in the unemployment rate have operated through several channels in ways that have affected people of different ages in differing ways.

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