Antecedentes de la Gran recesiónresponsabilidades de política monetaria

Abstract

The present work analyzes the recession that began in 2007, with the crisis of credit or subprime crisis, from the perspective of its continuity or connection -not a strict one, but in its fundamentals or forms- with the crisis occurred in eighties, nineties and, of course, fully linked to the contraction produced around 2000, with the burst of Dotcom bubble. We can even go to the difficulties and crises produced at the end of 1960s or at early 1970s. After an analysis of the real causes of the recession, caused by the artificial and interested manipulation of the economy by the authorities -primarily on interest rates, as part of the monetary policy action-, the document raises the weaknesses and consequences of monetary policy conducted by the two principal central banks (Fed and ECB) and ends with the review of a couple of common theoretical errors revived by the crisis, along with a brief reflection of the spending policy and public borrowing.