Antonio Fatás on Hysteresis and the Business Cycle
Macro Musings with David Beckworth
00:00
The Persistence Effect of Cycles in the US
In the 1980s, you could plug in the traditional model to supply and demand their distinct at long horizons. But as you point out, though, if you were to look around the world, you don't have that clean relationship. That was maybe a nice artifact of the great moderation, but there's many crises around the world,. I think we can say the evidence from the past decade, even in the US, now bears this out.
Transcript
Play full episode
