New York City's Tale of Two Recessions
A widening disconnect is emerging between the real economy and the financial sector that precipitated this calamitous downturn. While the unprecedented financial bailout measures by the Treasury and the Federal Reserve have not fixed the financial system's myriad problems, they have restored profitability on Wall Street. Although the gross domestic product's rebound in the last half of 2009 may signal the technical end to the Great Recession, most economic forecasts expect anemic growth through the end of 2010. Households struggle with debt burdens unsupportable in a bleak labor market with few jobs and stagnant or declining real wages. Unemployment is expected to stay very high well into 2011 and, possibly, 2012.
Volume (Year): 53 (2010)
Issue (Month): 3 (May)
|Contact details of provider:|| Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=106043|
When requesting a correction, please mention this item's handle: RePEc:mes:challe:v:53:y:2010:i:3:p:32-48. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen)The email address of this maintainer does not seem to be valid anymore. Please ask Chris Nguyen to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.