“The unquestioned authorities on major financial crises and their lengthy hangovers are Carmen Reinhart and Ken Rogoff, the authors of “This Time is Different,” the key history of the subject. And, in a new paper, they try to set the record straight: “The aftermath of the U.S. financial crisis has been quite typical of post-war systemic financial crises around the globe. If one really wants to focus just on United States systemic financial crises, then the recent recovery looks positively brisk.”
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