The psychological cost of a few years of recession can wipe out the benefits of many years of growth. Jan-Emmanuel De Neve of the Centre for Economic Performance explains his latest research on the effect of the recent recession on people's wellbeing.
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Macroeconomics: UK economy, IB Economics
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A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by
Graham Watson
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This clip look at the impact of recessions on well-being - and suggests...surprise, surprise that there are asymmetric effects of both economic growth and recession. Who would have thought it. given the voluminous literature highlighting loss aversion?
It's interesting but I hardly think it ground-breaking - apart from making the case for government's placing greater emphasis on stable, sustainable, inclusive economic growth, and the argument that economic growth has little long-run effect on increasing economic growth.