Why is there a recession debate? Is there even a recession?
In their fifth edition of Macroeconomics, R. Glenn Hubbard and Anthony Patrick O’Brien tried to warn us. “Although writers for newspapers and magazines often define a recession as two consecutive quarters of declining real GDP, the NBER has a broader definition: “A recession is a significant decline in activity spread across the economy, lasting more […]
Why is there a recession debate? Is there even a recession? Read More »