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early 1980s recession
The early 1980s recession describes the severe global economic recession affecting much of the developed world in the late 1970s and early 1980s. The United States and Japan exited the recession relatively early, but high unemployment would continue to affect other OECD nations through to at least 1985. Long-term effects of the recession contributed to the Latin American debt crisis, the savings and loans crisis in the United States, and a general adoption of neoliberal economic policies throughout the 1980s and 1990s.
==Recession in the United States==
(詳細はrecession in the United States began in July 1981 and ended in November 1982.〔Paul Krugman, ("Did the Federal Reserve Cause the Recession?" ), ''New York Times'', April 1, 1991;〕〔National Bureau of Economic Research, ("US Business Cycle Expansions and Contractions" ), Cambridge, Mass., no date.〕 One cause was the Federal Reserve's contractionary monetary policy that sought to rein in the high inflation.〔Congressional Budget Office, ("The Prospects for Economic Recovery" ), February 1982. "The downturn was precipitated by a rise in interest rates to levels that exceeded the record rates recorded a year earlier" (p. xi).〕 In the wake of the 1973 oil crisis and the 1979 energy crisis, stagflation began to afflict the U.S. economy.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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