In the last days, much has been discussed about the possibility that the world economy is passing through a W-shaped recession. This is the case when, after a first period of economic recession, there is a short period of growth followed by another period of recession. This was the case of the early 1980’s recession in the United States, which officially began in July of 1981 and ended in November of 1982. It resulted from the combination of several factors, like the oil shocks of the 1970’s, the process of contractionist monetary policies adopted by the U.S. Federal Reserve ...
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