Long abstract
The real economy and the crisis: revisiting productivity fundamentals
Discussions about the current crisis often present events in a sequence, such as that the US sub-prime crisis in August 2007 triggered a major inter-bank credit crisis, which transformed itself into a general credit crisis, the latter having an impact on the real economy and overall business and consumer confidence. However, some commentators have made reference to other explanations, more linked to the evolution of economic fundamentals. |
