Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/68309
Authors: 
Rossi, Vanessa
Reinhart, Carmen M.
Reinhart, Vincent
Abberger, Klaus
Baker, Dean
Yifu Lin, Justin
Year of Publication: 
2011
Citation: 
[Journal:] Intereconomics [ISSN:] 1613-964X [Publisher:] Springer [Place:] Heidelberg [Volume:] 46 [Year:] 2011 [Issue:] 6 [Pages:] 300-326
Abstract: 
In 1937, in the midst of the US recovery from the Great Depression, President Roosevelt implemented spending cuts in pursuit of a balanced budget. Subsequently, the unemployment rate jumped nearly 6 percentage points over the next year and the US economy re-entered a major recession. In the midst of the current global recovery from the Great Recession, European and American policymakers again seem intent on pursuing the path of budget austerity. In light of slowing economic growth rates, shrinking consumer and business confidence, and stubbornly high unemployment figures, could it be that Western economies are ignoring lessons from the past?
Persistent Identifier of the first edition: 
Document Type: 
Article

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