Yesterday’s update on industrial production looks surprisingly good at a time when the only news from the economic front seems to be bad news.
Daily Archives: September 16, 2011
Research Review | 9.16.2011 | Recessions & Rebounds
The Sluggish Recovery from the Great Recession: Why There Is No ‘V’ Rebound This Time
Mark A. Wynne | Federal Reserve Bank of Dallas | Sep 2011
Unlike all other post-World War II recessions, the 2008–09 episode was precipitated by a banking crisis. A number of researchers have shown that downturns associated with banking crises tend to be more severe, and furthermore, in their aftermath, output takes a lot longer to recover.[5] In some cases, the crisis seems to persistently affect the trend rate of growth, while in other cases, the growth path of activity seems to shift down.