Christina Romer quote

The stock market crash in October 1929 didn't destroy a particularly large amount of wealth or make people highly pessimistic. Rather, it made companies and consumers very unsure about future income, and so led them to stop spending as they waited for more information.
Christina Romer

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Reducing Inflation: Motivation and Strategy (Volume 30) (National Bureau of Economic Research Studies in Business Cycles)
Reducing Inflation: Motivation and Strategy (Volume 30) (National Bureau of Economic Research Studies in Business Cycles)
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