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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

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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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Publisher 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;

Other versions of this item:

Find related papers by JEL classification:
E - Macroeconomics and Monetary Economics
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation
E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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  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). [Downloadable!]
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