| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28452 |
| 来源ID | Working Paper 28452 |
| The Recovery From The Great Recession: A Long, Evolving Expansion | |
| Jay C. Shambaugh; Michael R. Strain | |
| 发表日期 | 2021-02-15 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Prior to 2020, the Great Recession was the most important macroeconomic shock to the United States economy in generations. Millions lost jobs and homes. At its peak, one in ten workers who wanted a job could not find one. On an annual basis, the economy contracted by more than it had since the Great Depression. A slow and steady recovery followed the Great Recession's official end in the summer of 2009, but because it was slow and the depth of the recession so deep, it took years to reduce slack in labor markets. But because the slow-and-steady recovery lasted so long, many pre-recession peaks were exceeded, and eventually real wage growth began to accumulate for workers across the distribution. In fact, the business cycle (including recession and recovery) beginning in December 2007 was one of the better periods of real wage growth in many decades, with the bulk of that coming in the last years of the recovery. We place the Great Recession in historical context and trace the path of the recovery, studying its different phases and how different groups of workers were impacted in each phase. We also discuss the response of fiscal and monetary policy to the Great Recession, and draw lessons for the future. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Fiscal Policy ; Labor Economics ; Labor Compensation |
| URL | https://www.nber.org/papers/w28452 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586126 |
| 推荐引用方式 GB/T 7714 | Jay C. Shambaugh,Michael R. Strain. The Recovery From The Great Recession: A Long, Evolving Expansion. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28452.pdf（711KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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