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Contagion: When the Emperor Coughs

In: The Public Debt Problem

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  • Pierre Lemieux

Abstract

We think we know an economic crisis when we see one: it typically includes bankruptcies, unemployment, lower incomes, lower consumption, lower investment, uncertainty, and fear. Sometimes, it is accompanied by def lation (drop in the price level), or even by inf lation like in the early 1980s. But what exactly is an economic crisis?

Suggested Citation

  • Pierre Lemieux, 2013. "Contagion: When the Emperor Coughs," Palgrave Macmillan Books, in: The Public Debt Problem, chapter 0, pages 143-153, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-31302-7_10
    DOI: 10.1057/9781137313027_10
    as

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