State and Local Governments: Knowledge of Past Recessions Can Inform Future Federal Fiscal Assistance |
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| Author:
| Government Accountability Office, Government Accountability |
| ISBN: | 978-1-4921-8277-1 |
| Publication Date: | Aug 2013 |
| Publisher: | CreateSpace Independent Publishing Platform
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| Book Format: | Paperback |
| List Price: | USD $15.99 |
Book Description:
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Recessions mark a distinct phase of the overall business cycle, beginning with a business cycle "peak" and ending with a business cycle "trough." Between trough and peak the economy is in an expansion. The National Bureau of Economic Research (NBER) identifies dates for national recessions, which can vary in overall duration and magnitude.7 While NBER sets dates for the peaks and troughs of national recessions, no dates are set for turning points in state economies. State economic...
More DescriptionRecessions mark a distinct phase of the overall business cycle, beginning with a business cycle "peak" and ending with a business cycle "trough." Between trough and peak the economy is in an expansion. The National Bureau of Economic Research (NBER) identifies dates for national recessions, which can vary in overall duration and magnitude.7 While NBER sets dates for the peaks and troughs of national recessions, no dates are set for turning points in state economies. State economic downturns vary in magnitude, duration, and timing, and do not necessarily coincide with dates identified for national recessions.