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The gap between the cost of carbon-free and carbon-emitting technology fell, and the taxes designed to mitigate emissions became more effective.
In hindsight, these exchange-rate swings mirrored the initial collapse and subsequent rebound in global trade, helping to mitigate the recession.
While a distraught world is still trying to fathom the consequences of this global crash and to mitigate its impact, the call of the next black swan can already be heard: the global climate disaster.
Monetary policy is far from powerless to mitigate a contraction in economic activity when deflation strikes, or when an economy flirts dangerously with it.
But the lesson from the current crisis is that we will have to develop styles of global economic governance to manage, regulate, and mitigate the creative, but often disruptive forces unleashed by the global market.
Indeed, the Nobel laureate economist Amartya Sen has demonstrated that free speech even helps mitigate seemingly natural catastrophes like famines, because it reveals the ways in which a few haves exploit the many have-nots.
They also have a chance to advance the use of market mechanisms to do two things: mitigate climate change, and, at the same time, create incentives for expanded use of clean energy.
The world needs strategies to mitigate this looming volatility.
Fortunately, there are a few things governments can do to mitigate the effects of inertial spending.
Tucker's proposal makes good sense, but it is difficult - and arguably unethical - for charities that raised money to help Haitians now to divert some of those funds to programs to mitigate the damage caused by future earthquakes.
There may be ways to mitigate the result, but without immigration social benefits across Europe will have to be reduced massively within a generation.
And, in advanced countries, a larger female labor force can help to counteract the impact of a shrinking workforce and mitigate the costs of an aging population.
Paradoxically, that is a good thing, because it means that risk-management technology can be used to mitigate the problem.
As emerging-market central banks leaned against heavy capital inflows in order to mitigate exchange-rate appreciation, their currencies became less volatile.
According to the conventional wisdom of many environmental campaigners, we should first do everything we can to mitigate global warming, and only then focus on adaptation strategies.
Only a patient, creative, and consistent engagement strategy will mitigate fears on both sides.
As a result, they have the fiscal firepower to boost consumption in order to mitigate the effects of declining exports.
That cannot happen with a common currency, and economic adjustment is doubly difficult when labor is not mobile enough to help mitigate regional contractions in income and unemployment.
To mitigate such risks, the international community could maintain its traditional policy of sitting tight and hoping that governments retain control of their nuclear infrastructure.
As previous crises have shown, and as the current downturn in China has highlighted, steps must be taken to mitigate market risks.
MILAN - Action to reduce carbon-dioxide emissions and mitigate climate change has long been viewed as fundamentally opposed to economic growth.
The economic costs of action to mitigate climate change rise non-linearly as action is delayed.
The report also sheds light on another important question in the climate debate: Is global cooperation critical to mitigate climate change?
This means that, though international coordination will be an important factor in the long-term success of action to mitigate climate change, its complications need not - and should not - hold progress hostage.
The way to achieve this is to decouple the question of who pays for most efforts to mitigate climate change from the question of where, geographically, these efforts take place.
But a sector-by-sector approach could mitigate these handicaps, and, given the pressing need to address demand for energy and climate change, it might be strategically advisable to start with the energy sector.
Now, as Japan's economic recovery stalls, the country's business sector seems to be pressuring Abe's government to work harder to mitigate the impact of its deteriorating relationship with China.
All of these issues test the region's ability to manage peace and mitigate tensions between its main powers - and thus underscore the concern that Hatoyama and Rudd raised.
Robust Japanese participation would mitigate Asia-Pacific polarization and contribute to building momentum for regional integration.
The bottom line, though, is that better policies can at best mitigate the economic consequences of this horrible recession.
Yet the entire OSCE toolbox has been mobilized to mitigate the crisis, as well as to support other critical steps, including constitutional reform, the protection of ethnic minority rights, and political dialogue and reconciliation.