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Posts Tagged ‘countercyclical policy’

Countercyclical no More

May 10, 2013 5 comments

Browsing national accounts may be an inexhaustible source of insight on the current debate about austerity. Take this figure, which shows the evolution of real GDP and of its components for the US and the EMU, making the first quarter of 2008 equal to 100.

US_vs_EU_2

I tracked in particular the evolution of private (consumption plus investment) and public expenditure on good and services.

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