The basic aggregate measure of gearing or leverage is telling us that today’s advanced economies’ operating systems are more heavily dependent on private sector credit than anything we have ever seen before.
ALAN M. TAYLORAlan M. Taylor Quotes
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The basic aggregate measure of gearing or leverage is telling us that today’s advanced economies’ operating systems are more heavily dependent on private sector credit than anything we have ever seen before.
ALAN M. TAYLOR
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How we ended up there and how we got to where we are today, without having some basic.
ALAN M. TAYLOR
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Then our economic future will be very different from our recent past.
ALAN M. TAYLOR
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Absent significant regulatory or tax changes, and a sharp transition could be disruptive.
ALAN M. TAYLOR
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In the immediate postwar era, financial crises in advanced countries were rare events, and before 1970 did not happen at all.
ALAN M. TAYLOR
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Macroeconomic stability will be more elusive and that will affect all of our lives: from the risks many will face in childhood.
ALAN M. TAYLOR
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Since then they have occurred more often, and 2008 was the most damaging of them all to date.
ALAN M. TAYLOR
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Furthermore, this pattern is seen across all the advanced economies, and isn’t just a feature of some special subset (e.g. the Anglo-Saxons).
ALAN M. TAYLOR