Why did some countries recover faster than others?

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.”

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