The Long Run Blog

Critical Thinking on Money, Finance, and Economics

Recession or Depression?

Frequently you hear the definition of a recession as “two consecutive quarters of negative growth in GDP”. While this definition approximates the effects of a recession, it is too simplistic. The National Bureau of Economic Research, or NBER, is the arbiter of the business cycle. When they announce the start or end dates of a recession, those dates are considered the official start/end points of the economic contraction.

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December 3, 2008 Posted by | Economics | , , | 1 Comment

   

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