The future of the european periphery in the mirror of the Asian-Pacific Rim 1997-98

Brad DeLong comenta paper de Carmen Reinhart y Takeshi Tashiro

"Our old belief that you have a trend, and you calculate the trend; that you have a cycle, and you argue over whether the cycle is falls below the trend or fluctuations around it; but that you can carry this discussion along two separate and largely-disconnected tracks--that belief looks to be simply wrong."