Dissecting US Recoveries

22 Pages Posted: 9 Mar 2017

Multiple version iconThere are 2 versions of this paper

Date Written: March 9, 2017

Abstract

We propose a set of new quantitative measures to characterise more fully the features of economic recoveries. We apply these measures to post-war 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.

Keywords: business cycles, recoveries

JEL Classification: C22, E32

Suggested Citation

Gadea Rivas, Maria Dolores and Gómez-Loscos, Ana and Pérez-Quirós, Gabriel, Dissecting US Recoveries (March 9, 2017). Banco de Espana Working Paper No. 1708, Available at SSRN: https://ssrn.com/abstract=2929993 or http://dx.doi.org/10.2139/ssrn.2929993

Maria Dolores Gadea Rivas (Contact Author)

University of Zaragoza ( email )

Gran Via 2
Zaragoza, 50005
Spain

Ana Gómez-Loscos

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Gabriel Pérez-Quirós

Banco de España

Alcala 50
Madrid 28014
Spain

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