However, the narrative I have emphasized places economic inequality and the differential experiences of American families, particularly the highly adverse experiences of those least well positioned to absorb their “realized shocks,” closer to the front and center of the macroeconomic adjustment process.
Consumer purchasing power was bolstered in by an increase in household incomes, cuts in income tax, the improved employment situation and low interest rates. The stronger confidence and continuation of low interest rates continued to encourage the taking out of new housing loans. The Finnish economy is recovering quite strongly. In 2010 the growth boosted by both domestic demand and exports (Figure 18).