The Cost of Austerity and Slow Recoveries

What are the economic costs of business cycles? Economists tend to approach this question in a way that is very different from the way most people think about economic crises. The academic literature tends to think about business cycles within a framework where economic activity fluctuates around a trend. Within this framework, fluctuations are symmetric. [...] View the full post at: The Cost of Austerity and Slow Recoveries Related posts: Economic Recovery Forecast: Slow and Sluggish From Recession to Recovery: A long and Hard Road Unemployment Stands at 26-Year High; Layoffs Slow