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
JEL(s): C22, E32
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.