The U.S. Economy: What’s Next?

Levy Economics Institute, Strategic Analysis Series, April 2007

8 Pages Posted: 9 May 2011

See all articles by Dimitri B. Papadimitriou

Dimitri B. Papadimitriou

Bard College - Levy Economics Institute

Wynne Godley

Bard College

Gennaro Zezza

University of Cassino - Department of Economics; Bard College - The Levy Economics Institute

Date Written: 2007

Abstract

The collapse in the subprime mortgage market, along with multiple signals of distress in the broader housing market, has already drawn forth a large body of comment. Some people think the upheaval will turn out to be contagious, causing a major slowdown or even a recession later in 2007. Others believe that the turmoil will be contained, and that the U.S. economy will recover quite rapidly and resume the steady growth it has enjoyed during the last four years or so. Yet no participants in the public discussion, so far as we know, have framed their views in the context of a formal model that enables them to draw well-argued conclusions (however conditional) about the magnitude and timing of the impact of recent events on the overall economy in the medium term - not just the next few months.

Suggested Citation

Papadimitriou, Dimitri B. and Godley, Wynne and Zezza, Gennaro, The U.S. Economy: What’s Next? (2007). Levy Economics Institute, Strategic Analysis Series, April 2007, Available at SSRN: https://ssrn.com/abstract=1833589 or http://dx.doi.org/10.2139/ssrn.1833589

Dimitri B. Papadimitriou

Bard College - Levy Economics Institute ( email )

Blithewood
Annandale-on-Hudson, NY 12504
United States
845-758 7711 (Phone)
845-758 9424 (Fax)

Wynne Godley (Contact Author)

Bard College ( email )

Annandale-on-Hudson, NY 12504-5000
United States
845-758-7700 (Phone)
845-758-1149 (Fax)

Gennaro Zezza

University of Cassino - Department of Economics ( email )

Cassino
Italy

HOME PAGE: http://gennaro.zezza.it

Bard College - The Levy Economics Institute ( email )

Blithewood
Annandale-on-Hudson, NY 12504-5000
United States

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