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1. crsreports.congress.gov › product › pdfIntroduction to U.S. Economy: The Business Cycle and Growth

   crsreports.congress.gov › product › pdf

   Oct 3, 2024 · Potential Causes of the Business Cycle. In general, the business cycle is governed by aggregate demand (total spending) within the economy, but recessions can also be caused by sudden shocks to supply, which will impact both aggregate supply and aggregate demand.

2. www.frbsf.org › economic-research › wp-contentWhy Has the US Economy Recovered So Consistently from Every ...

   www.frbsf.org › economic-research › wp-content

   We study data from the labor market during recoveries from recessions, excluding the recov-ery from the pandemic recession of 2020. Our objective is to understand why the recovery phase of the US business cycle has invariably been slow but irresistible, a fact established in a companion paper, Hall and Kudlyak (2020a).

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4. crsreports.congress.gov › product › pdfU.S. Economic Recovery in the Wake of COVID-19: Successes and ...

   crsreports.congress.gov › product › pdf

   May 31, 2022 · The economic recession triggered by COVID-19 caused a historically rapid and deep decline in economic activity and employment. This decline was caused by reductions in supply (production of goods and services) and demand (spending). R47115.

5. www.federalreserve.gov › feds › filesPandemic Recession Dynamics: The Role of Monetary Policy in ...

   www.federalreserve.gov › feds › files

   economic activity may persist for some time, even if the pandemic subsides quickly, as declines in employment and income lead to further pullbacks in consumption and investment and a weakening in household, business, and financial institution balance sheets.

   • File Size: 660KB
   • Author: Michael T. Kiley

   • Page Count: 32
   • Publish Year: 2020

6. www.frbsf.org › research-and-insights › publicationsPermanent and Transitory Effects of the 2008–09 Recession

   www.frbsf.org › research-and-insights › publications

   • Cached

   Nov 30, 2020 · In this Economic Letter, we assess the permanent and transitory effects of the GFC and the ensuing recession on output (GDP) in the United States. Transitory effects underlie the typical pattern where economic activity falls during recessions and rises during expansions.

   • Author: Rdawson

7. journals.sagepub.com › doi › fullThe Recovery from the Great Recession: A Long, Evolving ...

   journals.sagepub.com › doi › full

   Aug 23, 2021 · View full text | Download PDF. Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States’ economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted ...

8. People also ask

   How does a recession affect economic activity?

   • recession sizably, arguably bringing economic activity to depression-like levels. Real GDP productive capacity of the economy through lower investment. The amplification is even greater on hours worked, which fall to a trough 25 percent below baseline (lower left panel).Note that after the shock (upper middle panel).

   Pandemic Recession Dynamics: The Role of Monetary Policy in Shifting a

   www.federalreserve.gov/econres/feds/files/2020083pap.pdf

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   How do recessions and expansions affect economic growth?

   • Separating U.S. economic output into permanent and transitory components can help explain the effects of recessions and expansions. GDP growth shifted to a lower trend rate in 2000, indicating a slowdown long before the 2008–09 recession.

   Permanent and Transitory Effects of the 2008–09 Recession

   www.frbsf.org/research-and-insights/publications/economic-letter/2020/11/permanent-and-transitory-effects-of-2008-09-recession/

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   Can economic data predict recessions & expansions?

   • Predicting recessions and expansions is notoriously difficult due to the irregular pattern of the business cycle; a single quarter of economic data can be too short to predict a trend, although this was not the case with COVID-19.

   Introduction to U.S. Economy: The Business Cycle and Growth

   crsreports.congress.gov/product/pdf/IF/IF10411

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   How did the recession affect GDP?

   • GDP was substantially above trend before that recession; it then declined significantly and did not recover to its trend rate until 2017. The recession resulted in permanent losses to GDP. Without those permanent effects, GDP at the end of the latest expansion would have been about $380 billion or $1,460 per person higher.

   Permanent and Transitory Effects of the 2008–09 Recession

   www.frbsf.org/research-and-insights/publications/economic-letter/2020/11/permanent-and-transitory-effects-of-2008-09-recession/

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   What is the relationship between recession and expansion?

   • The recession and expansion dynamics are readily apparent, as the cycle declined around all three recessions and grew over expansions. An expansion in the 1980s gave way to the 1990–91 recession, when the cycle component of GDP fell about 4 percentage points.

   Permanent and Transitory Effects of the 2008–09 Recession

   www.frbsf.org/research-and-insights/publications/economic-letter/2020/11/permanent-and-transitory-effects-of-2008-09-recession/

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   How does the business cycle affect economic growth?

   • Over longer periods of time, the volatility of the business cycle fades to reveal a pattern of growth in the economy. In general, the business cycle is governed by aggregate demand (total spending) within the economy, but recessions can also be caused by sudden shocks to supply, which will impact both aggregate supply and aggregate demand.

   Introduction to U.S. Economy: The Business Cycle and Growth

   crsreports.congress.gov/product/pdf/IF/IF10411

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9. www.nber.org › system › filesThis PDF is a selection from an out-of-print volume from the ...

   www.nber.org › system › files

   What Is a Recession? In the course of its studies of business cycles, the National Bureau of Economic Research has identified successive periods of business expansion and contraction in the United States and several other countries. Business cycle peak dates mark the end of a period of expansion and the beginning of a period of contraction ...