Chapters in double your dating


24-Dec-2017 00:27

How does that relate to the NBER's recession dating procedure?

A: Most of the recessions identified by our procedures do consist of two or more quarters of declining real GDP, but not all of them.

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For example, in the recovery beginning in March 1991, the unemployment rate continued to rise for 15 months after the trough. In the current recovery, the lag was only 4 months, from the trough in activity in June 2009 to the highest level of the unemployment rate in October 2009.Q: Isn't a recession a period of diminished economic activity?A: It's more accurate to say that a recession–the way we use the word–is a period of diminishing activity rather than diminished activity.The committee places real Gross Domestic Income on an equal footing with real GDP; real GDI declined for six consecutive quarters in the recent recession.

Q: Why doesn't the committee accept the two-quarter definition?In 2001, for example, the recession did not include two consecutive quarters of decline in real GDP.