Ascent after Decline: Regrowing Global Economies after the Great Recession

The Great Recession of 2009-11 was not simply a severe business cycle slowdown or even a combined credit, housing, and asset market collapse. It left permanent scars, especially on the advanced economies. In its wake, policy makers must navigate uncharted economic territory where 'business as usual' no longer applies and deep structural changes mark the global economic landscape.

Fundamental questions about the daunting task of 'regrowing growth' have now taken center stage for economists,...