Abstract:
After the Great Depression, US policymakers lost their nerve, and embarked upon fiscal consolidation. They tipped the US, and the world, back into recession in 1937-38. The resulting problem was only resolved by the onset of World War II.
Citation:
Vines, D. (2011), 'The global imperatives for macroeconomic policy coordination', East Asia Forum, https://eastasiaforum.org/2011/02/20/global-imperative-of-macroeconomic-policy-coordination/