Those that stayed on gold for longer, such as America, suffered the most painful recessions.
AMERICANS are used to thinking of their job market as lithe and oyment snaps back quickly after recessions.
To be sure, sales of new homes did tend to do a little worse during recessions, but the difference was small and short-lived.
Our view is that the depth and length of the current recession relative to previous recessions is closely linked to the tremendous rise in household debt that preceded it.
Subsequent recessions were not like that.
ALL recessions are painful, but the hangovers that follow financial crises are particularly long and grim.
That would leave Germany increasingly vulnerable to recessions elsewhere, as well as to the risk of a protectionist backlash.
We must not repeat the mistakes that were made in recessions of the pastand abandon a whole generation of young people.
Foreign money fled, setting off deep recessions.
And that's what happened in the past few recessions, and this time around as well.
In fact, in the U.S., child health and education improve during recessions. That's because Americans, facing high unemployment rates, are often encouraged to get more education.
Consequently, most of the decline in real GDP during prior recessions was attributable to inventory liquidation, which meant cutbacks in production and jobs, and sharp reductions in capital spending.
Several reasons why trade should decline so fast in recessions suggest themselves.
While America's corporate world had suffered several booms and recessions in the later 20th century, the housing market had followed a steady path of growth.
The number of cinema tickets sold actually increased during three out of the past four recessions.
Outbound traffic from Long Beach and Los Angeles, America's two top ports, has fallen by 18pc year-on-year, a far more serious decline than anything seen in recent recessions.
America's economy slowed last year before reviving. Britain's endured a dud quarter or two as it emerged from previous recessions.
This week, the economists who officially decide when recessions start and end declared the recession of 2008 to be over.
Figure 4.12 shows a stylized view of recessions, but as trend growth dips, the economy will fall below zero percent growth more often.
He found that in recessions that followed financial crises, growth was a lot slower and credit growth stagnated-whereas after normal recessions it soared (see chart 6).
Older workers tend to do better in recessions.
國文精選館
