Guillermo Calvo et al.: Jobless Recoveries During Financial Crises: Is Inflation the Way Out?: Three policy tools [could] mitigate jobless recoveries during financial crises: inflation, real currency depreciation, and credit-recovery policies. Using a sample of financial crises in Emerging Market economies, we document that large inflationary spikes appear to help unemployment to get back to … Continue reading Evening Must-Read: Guillermo Calvo on Speeding Recovery from Financial Crisis-Induced Depression