Discussion paper

DP11997 Dissecting US recoveries

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.


Pérez Quirós, G, M Gadea Rivas and A Gomez-Loscos (2017), ‘DP11997 Dissecting US recoveries‘, CEPR Discussion Paper No. 11997. CEPR Press, Paris & London. https://cepr.org/publications/dp11997