The Economics of Recession

This section contains an updated version of the survey essay from the book The Economics of Recession, Edward Elgar Publishing, 2017. In addition to the essay, the two-volume book from Elgar contains full reprints of 60 readings selected from the economics literature to address eight critical questions about recessions (see below).

The survey is presented here in ten parts, each of which is accessible from the following links.

The Economics of Recession: A Survey

  1. Introduction
  2. What is a recession?
  3. What causes recessions?
  4. How do recessions end?
  5. What are the labor market effects of recessions?
  6. What other systemic effects do recessions have?
  7. How can we forecast recessions?
  8. How can we identify recessions in real time?
  9. How can we manage the individual risks of a recession?
  10. Concluding remarks