financial accelerator love

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financial accelerator

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  • “Ben Bernanke had spent his career studying financial crises. His first important work as an economist had been a study of the events that led to the Great Depression. Along with several economists, he came up with a phrase, “the financial accelerator,�? which described how deteriorating market conditions could speed until they became unmanageable.�?

    The New York Times, 36 Hours of Alarm and Action as Crisis Spiraled, by Joe Nocera, October 1, 2008

    October 2, 2008