Global Recession
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Title: Global Recession

Essay Details:

Subject: Social Issues
Author:
Date: August 9, 2013
Level: University
Grade: A
Length: 9 / 2496

Essay text:

In a 1974 New York Times article, Julius Shiskin suggested several rules of thumb to identify a recession, which included two successive quarterly declines in gross domestic product (GDP), a measure of the nation's output. It is now a commonly mentioned definition of a recession. In USA, NBER is regarded to be the authority that identifies a recession which takes several measures into account in addition to GDP growth. In developed nations other than USA, the two quarter rule is generally used for identifying a recession. However defining a global recession is harder because of the role of developing nations that are expected to have a higher GDP growth...

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