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Decreases solvency - PowerPoint PPT Presentation

MACROECONOMIC IMPLICATIONS OF FINANCIAL CONSTRAINTS 1. Credit crunch.

MACROECONOMIC IMPLICATIONS OF FINANCIAL CONSTRAINTS 1. Credit crunch. 9th set of transparencies for ToCF. INTRODUCTION. GREAT DEPRESSION. Irving Fisher ( EMA 1933): aggrevated by "poor performance" of financial markets. DEBT DEFLATION. Friedman-Schwartz (1963): role of money supply.

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Decreases solvency - PowerPoint PPT Presentation

MACROECONOMIC IMPLICATIONS OF FINANCIAL CONSTRAINTS 1. Credit crunch.