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What We’re In For: Projected Economic Impact of the Next Recession

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Author Info

  • Dean Baker
  • John Schmitt

Abstract

This report uses the past three recessions of the early 1980s, early 1990s and early 2000s to project the effects of a recession in 2008. The report finds that such a recession would result in a significant rise in unemployment and the poverty rate along with a significant decrease in the employment rate and the median family income. These effects would be felt long after financial markets begin to recover with workers feeling the negative effects of the recession for the next three to four years.

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File URL: http://www.cepr.net/documents/publications/JSDB_08recession.pdf
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Bibliographic Info

Paper provided by Center for Economic and Policy Research (CEPR) in its series CEPR Reports and Issue Briefs with number 2008-03.

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Length: 12 pages
Date of creation: Jan 2008
Date of revision:
Handle: RePEc:epo:papers:2008-03

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Related research

Keywords: recession; unemployment; poverty;

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Cited by:
  1. Hye Jin Rho & Danilo Pelletiere & Dean Baker, 2008. "The Changing Prospects for Building Home Equity: An Updated Analysis of Rents and the Price of Housing in 100 Metropolitan Areas," CEPR Reports and Issue Briefs 2008-26, Center for Economic and Policy Research (CEPR).
  2. Aimee Prawitz & Julie Kalkowski & Judith Cohart, 2013. "Responses to Economic Pressure by Low-Income Families: Financial Distress and Hopefulness," Journal of Family and Economic Issues, Springer, vol. 34(1), pages 29-40, March.

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