Slow Growth in the Post-Recession Expansion

Trends & Analyses

Buch | Softcover

100 Seiten

2016
Nova Science Publishers Inc (Verlag)
978-1-5361-0324-3 (ISBN)

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Following the housing crash and financial crisis that began to unfold in 2007, the United States experienced the longest and deepest recession since the Great Depression. The Great Recession that began in December 2007 could be explained after the fact based on the disruptions to the financial system caused by the crisis. What has followed since the economy returned to expansion in June 2009, however, posed a greater surprise. The standard macroeconomic model, consistent with the general economic record since World War II, predicted that the large decline in gross domestic product (GDP) that the United States experienced during the Great Recession would be offset by rapid catch-up growth in the subsequent expansion that began in June 2009, leaving the average growth rate unchanged in the long run. Instead, the current expansion has featured the lowest growth rate of any post-war expansion. The growth rate since the crisis has averaged one-quarter to one-half the average since World War II, depending on the measure used. Nor does this slower growth appear to be a transient blip of no greater relevance, as the current expansion is already longer than average and has not experienced a period of growth acceleration at any point in the expansion. Nor is the relatively slow growth unique to the United States -- all major advanced economies have had a similar experience since 2007. This book summarizes the U.S. economic growth record and reviews a number of explanations forwarded by economists for why this expansion has featured slow growth. Some explanations focus on short-term factors that would not be expected to persist, while others focus on long-term changes to the economy.

Preface; Slow Growth in the Current U.S. Economic Expansion; What Accounts for the Slow Growth of the Economy After the Recession?; Returning to Full Employment: What Do the Indicators Tell Us?; Index.

Erscheinungsdatum	03.12.2016
Verlagsort	New York
Sprache	englisch
Maße	155 x 230 mm
Gewicht	172 g
Themenwelt	Wirtschaft ► Volkswirtschaftslehre ► Finanzwissenschaft
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
	Wirtschaft ► Volkswirtschaftslehre ► Ökonometrie
ISBN-10	1-5361-0324-1 / 1536103241
ISBN-13	978-1-5361-0324-3 / 9781536103243
Zustand	Neuware