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Federal Reserve Bank of San Francisco
FRBSF Economic Letter
The Financial Crisis at 10: Will We Ever Recover?
Regis Barnichon
Christian Matthes
Alexander Ziegenbein
Abstract

A decade after the last financial crisis and recession, the U.S. economy remains significantly smaller than it should be based on its pre-crisis growth trend. One possible reason lies in the large losses in the economy’s productive capacity following the financial crisis. The size of those losses suggests that the level of output is unlikely to revert to its pre-crisis trend level. This represents a lifetime present-value income loss of about $70,000 for every American.


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Regis Barnichon & Christian Matthes & Alexander Ziegenbein, "The Financial Crisis at 10: Will We Ever Recover?" , Federal Reserve Bank of San Francisco, FRBSF Economic Letter, number 19, 2018.
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