In reality, OECD countries have accepted more extreme economic cycles

OECD countries have accepted more extreme economic cycles , with larger growth fluctuations , as illustrated by the fact that : In expansions, fiscal and monetary policies remain expansionary. This means that no growth is lost , unlike what would be the case if the aim was to prevent overindebtedness and asset price bubbles (known as “leaning against the wind”); In recessions, economic policies do not have any countercyclical capacity, because they remained expansionary until the end of the growth period. Recessions are therefore likely to be deeper.