Draghi Doesn’t Understand what Caused the Eurozone Double-Dip

The ECB tightened monetary policy sharply in 2011. This caused NGDP growth to plunge, and the eurozone fell into a double-dip recession. Whenever you have a demand-side recession, some people will look at specific industries, and/or specific regions, to see what caused it. This is mistake. The US housing industry was hit hard in the […] View the full post at: Draghi Doesn’t Understand what Caused the Eurozone Double-Dip Related posts: Double Dip Scenario? GDP 80s Redux? The U.S. Might be Better Off with a Global Currency