Regime Uncertainty and the Great Recession: A Market Process Approach

24 Pages Posted: 3 Jul 2015 Last revised: 26 Aug 2015

See all articles by Adam G. Martin

Adam G. Martin

Texas Tech University - Free Market Institute

Wolf von Laer

King's College, London, Students; Research Institute of Industrial Economics (IFN)

Date Written: July 1, 2015

Abstract

Regime uncertainty offers a compelling explanation for the slow recovery from the Great Recession in the United States. Market process theory provides a valuable theoretical framework for elaborating and extending the concept of uncertainty in order to generate new insights. One such insight is the asymmetric effect that episodes of regime uncertainty have on small and medium enterprises, which recovered more slowly from the Great Recession.

Suggested Citation

Martin, Adam G. and von Laer, Wolf, Regime Uncertainty and the Great Recession: A Market Process Approach (July 1, 2015). Available at SSRN: https://ssrn.com/abstract=2625580 or http://dx.doi.org/10.2139/ssrn.2625580

Adam G. Martin (Contact Author)

Texas Tech University - Free Market Institute ( email )

Box 45059
Lubbock, TX 79409-5059
United States

Wolf Von Laer

King's College, London, Students ( email )

London
United Kingdom

Research Institute of Industrial Economics (IFN) ( email )

Box 55665
Grevgatan 34, 2nd floor
Stockholm, SE-102 15
Sweden

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