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Recession by Mind Map: Recession
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Excess supply in labour market (unemployment)

falling real wages

real exchange rate depreciation

Asset price bubble

Excess demand in labour market

Excess demand in product/services markets

pro-cyclical incomes policy

pro-cyclical fiscal policy

pro-cyclical monetary policy

Euro membership

Increased foreign debt

currrent account deficit

increased household debt

real exchange rate appreciation

Real wage inflation

Budget deficit

pro-cyclical fiscal policy