a) Briefly explain how Ball (2014) quantifies long‐term damage from the Great Recession.
Choose two countries included in Ball’s study for which he documented contrasting experiences.
b) Looking first at the worst affected country that you have chosen, describe any two key economic mechanisms that appear to contribute to explaining the extent of the long‐term damage that country’s economy sustained and provide evidence to support your explanation.
c) Lastly Investigate the experience of the country you chose that was least affected. Suggest how that country was able to avoid or reduce the long term damage its economy suffered from the Great Recession.