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OECD’s chief economist on the US shutdown

The Prospector spoke to Pier Carlo Padoan, Chief Economist and Deputy Secretary-General of the OECD about the economic consequences of Government shutdown in the United States

By Jay Elwes  

What will be the consequences of the US govt shutdown for the US and for the global economy more broadly?

First of all we don’t have the full information to assess that, because as far as we know, also looking at past experiences of government shutdowns, it very much depends on how long the shutdown will be.

But we can think of two impacts, one short term impact of the shutdown which is a direct negative impact on GDP, which just to give you a ballpark number—a shock today similar to that was experienced in 1995 when there was the…

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