Klaus Schmidt-Hebbel

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Last quote by Klaus Schmidt-Hebbel

As a result of the recession the number of unemployed people will rise by something close to eight-million people, as tighter financial conditions, very low income-growth, and negative wealth effects, again due to lower equity prices and house prices, will dampen consumption and will also reduce significant investment.feedback
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Nov 25 2008 OECD
Klaus Schmidt-Hebbel has most recently been quoted in an article called Worst recession since early 80s - OECD. Klaus Schmidt-Hebbel said, “As a result of the recession the number of unemployed people will rise by something close to eight-million people, as tighter financial conditions, very low income-growth, and negative wealth effects, again due to lower equity prices and house prices, will dampen consumption and will also reduce significant investment.”.
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