Journal
JOURNAL OF ECONOMIC LITERATURE
Volume 51, Issue 4, Pages 1120-1154Publisher
AMER ECONOMIC ASSOC
DOI: 10.1257/jel.51.4.1120
Keywords
-
Categories
Ask authors/readers for more resources
This paper provides a survey of business cycle facts, updated to take account of recent data. Emphasis is given to the Great Recession, which was unlike most other postwar recessions in the United States in being driven by deleveraging and financial market factors. We document how recessions with financial market origins are different from those driven by supply or monetary policy shocks. This helps explain why economic models and predictors that work well at some times do poorly at other times. We discuss challenges for forecasters and empirical researchers in light of the updated business cycle facts.
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available