Series: Working Papers. 1708.
Author: María Dolores Gadea, Ana Gómez-Loscos and Gabriel Pérez-Quirós.
Topics: Economic growth and convergence | Quantitative methods | Regional analysis | International Economy | Labour market .
Published in: Economics Letters (2017), vol. 154, pp. 59–63
Full document
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.