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Is the Economic Cycle Still Alive? : Theory, Evidence and Policies

Baldassarri, Mario Annunziato, Paolo

Central Issues in Contemporary Economic Theory and Policy

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We are now living in a period of disillusion in the ability of economic policy to stabilise the economy. This is proven by the onset of severe world recession in the early 1980s and the inability to invert the negative phase of the business cycle under way in the industrialized countries in the early 1990s.

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