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And if prices fall, because (for example) a financial crisis reduces the availability of mortgages, then building dries up extremely quickly.No one wants to bulldoze England's prettiest countryside if it is unnecessary.
And here's the thing: the evidence suggests that effective action to limit the depth and duration of the slump after a financial crisis reduces this long-run damage too--which means, conversely, that failing to take such action, which is what we're doing now, also means accepting a diminished, embittered future.
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The crisis reduced the average net wealth of American households by about 40%.
Ms. Colón said it started in the 70's, when a city fiscal crisis reduced municipal money for such upkeep.
The drop in the last year has been the largest in almost 60 years, occurring as the global economic crisis reduced demand for many goods and services.
July 11 , 2012Collective borrowing would help Spain through the crisis, reducing the pressure to make immediate hefty cuts to lower its deficit.
It would be in the interests of other countries in a banking union to bail out a country in crisis, reducing the incentives to act prudently.
European stocks continued their latest plunge on Tuesday, as the German financial giant Deutsche Bank, buffeted by the debt crisis, reduced its profit forecast for the year.
Local good deeds often owe as much to vanity as to genuine concern for others.Will the financial crisis reduce charitable giving?
Unlike most other central bankers, Carney took immediate action during the 2008 financial crisis, reducing interest rates (by 0.5 percentage point) months before most other countries followed suit.
When we take into account the overall trend of the market with the help of two distinct control groups, we find that mergers during the crisis reduced an acquirer's risk for all measures tested, regardless of the control group.
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