The financial crisis that unraveled after the Lehman Brothers collapse affected in different degrees almost all countries around the world independently of the direct exposure of their financial institutions to toxic assets. Most countries saw a sharp drop in demand together with sudden increases in financial spreads and a dramatic fall in stock markets. Developed countries and many emerging market economies responded with a considerable monetary easing accompanied by unconventional central bank policies and fiscal stimulus packages to moderate the downturn in the economy.
Attribution-NonCommercial-NoDerivs 3.0 Chile
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