National bureau of economic research recession dating starcraft 2 not updating

No recession of the post-World War II era has come anywhere near the depth of the Great Depression, which lasted from 1929 until 1941 and was caused by the 1929 crash of the stock market and other factors.Attempts have been made to date recessions in America beginning in 1790.The program was organized by Richard Clarida and Francesco Giavazzi.

Their work is aided by historical patterns, in that recessions often follow external shocks to the economic system such as wars and variations in the weather affecting agriculture, as well as banking crises.How does that relate to the NBER’s recession dating procedure?Q: Why doesn’t the committee accept the two-quarter definition?At its meeting, the committee determined that a trough in business activity occurred in the U. The recession lasted 18 months, which makes it the longest of any recession since World War II.Previously the longest postwar recessions were those of 1973--82, both of which lasted 16 months.

Leave a Reply