December 2024
Intermediate to advanced
280 pages
7h 58m
English
By now, you should know I enjoy defining terms to level-set the conversation.
The term economic downturn is used to describe a period of declining economic performance across an entire economy that can last for several months or even years. It is generally marked by significant reductions in industrial production, employment, real income, manufacturing, and retail sales. These periods are part of the economic cycle, consisting of expansion, peak, contraction, and trough. The economic contraction is what economists would call an economic downturn.
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization, founded in ...
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