DP11997 Dissecting US recoveries
|Author(s):||Maria Dolores Gadea Rivas, Ana Gómez Loscos, Gabriel Pérez-Quirós|
|Publication Date:||April 2017|
|Keyword(s):||Business Cycles, recoveries|
|Programme Areas:||Monetary Economics and Fluctuations|
|Link to this Page:||www.cepr.org/active/publications/discussion_papers/dp.php?dpno=11997|
We propose a set of new quantitative measures to characterise more fully the features of economic recoveries. We apply these measures to postwar US expansions and use cluster analysis to determine that there are two different types of recoveries in recent US economic history, with most expansions before 1984 (Great Moderation) looking quite different from those after.