Examples of an Economic disaster involving interest rates?
I need an example of something phenomenal in an economy that involved interest rates and caused huge levels of unemployment . In fact, it doesnt have to be too phenomenal I need this example so I can link it with my assignment topic but I havent found any :c
Asked By: Michael Deman - 8/14/2012
Best Answer - Chosen by Asker
When there's inflation, interest rates are very high, because no bank wants to loose money... More
Answered By: Luis G - 8/14/2012
Additional Answers (1)
Try exploring the economic history of Brazil. They had massive inflationary problems, and had to keep their interest rates really high in order to bring it down. If the Philips Curve is right (what might not be the case), at least in the short run you should see some impact on the unemployment.
Answered By: Max the Magnificent - 8/14/2012
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