Praying for a Recession: The Business Cycle and Protestant Religiosity in the United States

Abstract:     
Some observers believe the business cycle influences religiosity. This possibility is explored in this paper by empirically examining the relationship between macroeconomic conditions and religious participation by U.S. Protestants. The findings of this paper suggest that there is a strong countercyclical component to religious participation in evangelical Protestant denominations while for mainline Protestants there is on balance a procyclical component to religious participation.

Keywords: Religiosity, Church Attendance, Business Cycle, Economic Conditions, Recession, Yield Curve, Protestant Church Growth

JEL Classifications: E32, J22

Working Paper Series