Tuesday, 30 July 2013

Cost of the crisis.

Dallas Fed paper estimates the cost.
“We conservatively estimate that 40 to 90 percent of one year's output ($6 trillion to $14 trillion, the equivalent of $50,000 to $120,000 for every U.S. household) was foregone due to the 2007-09 recession.”
H/t to Mike Norman.

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