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Two Tales of Adjustment: East Asian Lessons for European Growth

Chari, Anusha et al.
NYU Faculty Digital Archive · Papers
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multidisciplinary
Paths into the Asian Crisis of 1997-98 and the recent global financial crisis were similar, but the roads out could not be more different. Common wisdom has it that on impact Asia endured fiscal austerity imposed by the IMF whereas the IMF recommended stimulus in the case of the advanced nations at
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