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One thinks about the two most dramatic OECD macroeconomic events
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of the last twenty years.
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They are almost always--
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excuse me, President Zedillo,
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permanent OECD member events,
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so I exclude the drama of which you were a--
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you were so central, so central a part.
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They were, almost certainly,
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the Japanese financial crisis followed by depression in the 1990s
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and the dramatic declines in output
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associated with the failure of the banking system,
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to the point where it needed to be nationalized