…inequality (1), the social risk that Volcker took in forcing a recession to battle inflation (2) and a Taoist understanding of recessions as a natural and useful part of the…

…capacity. The previous cycle before the crisis had an attractor productive capacity of $18.6 trillion (2009 real $$). The business cycle before the 2001 recession ended up with a productive…

…free your mind from only worrying about this business cycle. There will have to be a recession to get to the next path. We eventually welcome a recession. Why? Because…

…productivity is against the effective demand limit with pressures to raise real wages from low unemployment. Eventually a recession occurs as businesses cut losses by reducing labor hours. Island #2…

…low productivity firms normally get cleaned out during a recession, which allows productivity to increase after a recession. But that didn’t happen after our recent crisis. So there is evidence…

This Burtless Brookings Blog post really is a must read. Burtless notes that taxes and transfers (including both ARRA and automatic responses to the recession) prevented huge income declines for…

…even if Cowen proves right that this coming year is full of dangers and several nations fall into recessions (some almost certainly will, e.g. Russia). So, the past half decade…

…Census Bureau. For those families, child-care expenses represent 7.2% of family income, compared to 6.3% in 1986 (the earliest year available). Meanwhile, in particular since the Great Recession, median pay…

…the graph represents when the plot falls to near zero before each recession. EDL again has hit the same point that was hit twice before the 2008 recession. I do…

…I compared the changes to potential output around 3 recessions. I showed how potential GDP did not change much after the Volcker recession. I showed how potential output around the…