The Cause of the Great Recession: In Pursuit of an Alternative Explanation

14 Pages Posted: 16 Oct 2015

Date Written: October 14, 2015

Abstract

The prevailing narrative about the Great Recession is that it was caused by a financial crisis. This paper refutes that explanation and offers an alternative, namely that issuance of bad government debt played a key role in escalating a regular recession to an economic crisis.

Keywords: Macroeconomics, Government Debt, Recession, Fiscal Policy, Monetary Policy, European Union, Euro Zone, Welfare State

JEL Classification: E32, E44, E52, E58, E60, E62, E63, E65, H50, H6

Suggested Citation

Larson, Sven R., The Cause of the Great Recession: In Pursuit of an Alternative Explanation (October 14, 2015). Available at SSRN: https://ssrn.com/abstract=2674293 or http://dx.doi.org/10.2139/ssrn.2674293

Sven R. Larson (Contact Author)

Hill City Skunkworks, LLC ( email )

PO Box 1382
Cheyenne, WY 82003
United States

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