The Current Economic Recession: How Long, How Deep, and How Different From the Past? (Congressional Research Service)
Book Details
PublisherNinety-Nine Cent Publishing LLC
ISBN / ASINB0032JSBRA
ISBN-13978B0032JSBR3
Sales Rank1,910,395
MarketplaceUnited States 🇺🇸
Description
The Current Economic Recession: How Long, How Deep, and How Different From the Past?
Congressional Research Service Report for Congress
...In March 2001, the 10th recession of the post-World War II period began. Of
these 10 recessions, only two have been long and deep – the recession of 1973-1975
and the recession of 1981-1982. This report examines the current recession and
recessions of the previous three decades in detail. It gives a brief overview of the
other post-war recessions. It outlines the fiscal and monetary policy response to each
recession. It also looks at theories of why recessions occur.
The report concludes by asking the question that many commentators in the
news have asked recently: is this recession different from the past? It finds little
evidence that this is the case. Commentators have claimed that this recession is
different from the past because it is an investment-led (rather than a consumption-led)
recession. While it appears true that the current recession has been investment-led,
this is true of all the post-war recessions. Commentators have also claimed that this
recession is unique because its run-up was not characterized by an accelerating rate
of price inflation. While this characteristic is different from recessions of the 1970s,
1980s, and 1990s, it is similar to recessions of the 1950s and 1960s. Another
similarity between the current recession and past recessions that has been somewhat
overlooked by commentators is the role of rising oil prices. A spike in oil prices has
preceded nine of the 10 post-war recessions....
Congressional Research Service
The Congressional Research Service (CRS) serves shared staff to congressional committees and Members of Congress. CRS experts assist at every stage of the legislative process — from the early considerations that precede bill drafting, through committee hearings and floor debate, to the oversight of enacted laws and various agency activities.
CRS's analytic capabilities integrate multiple disciplines and research methodologies. In a fast-paced, ever-changing environment, CRS provides Congress with the vital, analytical support it needs to address the most complex public policy issues facing the nation. Its work incorporates program and legislative expertise, quantitative methodologies, and legal and economic analysis.
Congressional Research Service Report for Congress
...In March 2001, the 10th recession of the post-World War II period began. Of
these 10 recessions, only two have been long and deep – the recession of 1973-1975
and the recession of 1981-1982. This report examines the current recession and
recessions of the previous three decades in detail. It gives a brief overview of the
other post-war recessions. It outlines the fiscal and monetary policy response to each
recession. It also looks at theories of why recessions occur.
The report concludes by asking the question that many commentators in the
news have asked recently: is this recession different from the past? It finds little
evidence that this is the case. Commentators have claimed that this recession is
different from the past because it is an investment-led (rather than a consumption-led)
recession. While it appears true that the current recession has been investment-led,
this is true of all the post-war recessions. Commentators have also claimed that this
recession is unique because its run-up was not characterized by an accelerating rate
of price inflation. While this characteristic is different from recessions of the 1970s,
1980s, and 1990s, it is similar to recessions of the 1950s and 1960s. Another
similarity between the current recession and past recessions that has been somewhat
overlooked by commentators is the role of rising oil prices. A spike in oil prices has
preceded nine of the 10 post-war recessions....
Congressional Research Service
The Congressional Research Service (CRS) serves shared staff to congressional committees and Members of Congress. CRS experts assist at every stage of the legislative process — from the early considerations that precede bill drafting, through committee hearings and floor debate, to the oversight of enacted laws and various agency activities.
CRS's analytic capabilities integrate multiple disciplines and research methodologies. In a fast-paced, ever-changing environment, CRS provides Congress with the vital, analytical support it needs to address the most complex public policy issues facing the nation. Its work incorporates program and legislative expertise, quantitative methodologies, and legal and economic analysis.
