What happened in the mid-1980s to dampen this oscillation? Bretton Woods ended a decade earlier...pic.twitter.com/UuGIDlD0a7
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"improved inventory management policies," "financial innovation," "inflation targeting," "central bank independence" http://wwwdev.nber.org/papers/w11946.pdf …
The interesting thing is that 2008-style downturns were actually pretty common before the 1980s.
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