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Sources of Financial Instability: Challenges for Monetary and Fiscal Policy | Claudio Borio

Hidden Forces

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What Happened During the Great Depression?

Theory that deflation is always and everywhere a bad thing goes back even before the 19 29 crash. High debt levels with falling as et prices was key driver across countries of what happened during great depression, he says. But i think role played by acid prices has probably not received the attention that it deserves.

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