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ABSTRACT. Chari et al. examine three claims about the way the financial crisis is affecting the economy as a whole and argue that all three claims are myths. Khatiwada and McGirr assert that deceleration of growth and deteriorating financing conditions may trigger further business failures and possibly more banking emergencies. Jickling argues that disruptions in financial markets rise to the level of a crisis when the flow of credit to households and businesses is constrained and the real economy of goods and services is adversely affected.

GEORGE HODOROGEA
Wales University

 

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