The Global Financial Crisis: Analysis And Policy Implications

Date Added: Feb 2010
Format: PDF

The world appears to be recovering from the global recession that has caused widespread business contraction, increases in unemployment, and shrinking government revenues. Although the industrialized economies have stopped contracting, for many, unemployment is still rising. The United States likely hit bottom in June 2009, but numerous small banks and households still face huge problems in restoring their balance sheets, and unemployment has combined with subprime loans to keep home foreclosures at a high rate.