Why did some countries recover faster than others?

Reading Time:

A list of readings on post-crisis recovery:

US-focused

Other references

The Great Recession cut deeper than the harm to GDP alone can show:

  • Davis & Wachter, 2011: “In present-value terms, men lose an average of 1.4 years of predisplacement earnings if displaced in mass-layoff events that occur when the national unemployment rate is below 6 percent. They lose a staggering 2.8 years of predisplacement earnings if displaced when the unemployment rate exceeds 8 percent”
  • Hall 2014: Quantifying the Lasting Harm to the U.S. Economy from the Financial Crisis
  • RAND research: "Employment can build character for many teens, especially as they balance work and school, learn how to manage their paychecks, and are accountable to their employers and coworkers.”

How likely is a June hike?

As the April FOMC minutes came out on May 18, the market reassessed the probability of a looming hike immediately: Source: Fed Funds futures, via Bloomberg...

Economic performance of Central Europe

Poland performed the best overall, managing to grow every single year over the relevant period: Here is the regional variation in Poland - even the worst-performing...