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All About the Business Cycle: Where Do Recessions Come From?



What constitutes a recession? Two quarters of negative real GDP growth? Well, most of the time that “rule of thumb” definition works, but not always. The NBER Business Cycle Dating Committee has a more nuanced way of determining what a recession is. This essay discusses where recessions come from, how they are determined, and how they end.

Suggested Citation

  • Scott A. Wolla, 2023. "All About the Business Cycle: Where Do Recessions Come From?," Page One Economics Newsletter, Federal Reserve Bank of St. Louis, pages 1-8, March.
  • Handle: RePEc:fip:fedlpo:95787

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