A report on Great Recession
Period of marked general decline, i.e. a recession, observed in national economies globally that occurred between 2007 and 2009.
- Great Recession46 related topics with Alpha
Subprime mortgage crisis
9 linksMultinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis.
Multinational financial crisis that occurred between 2007 and 2010 that contributed to the 2007–2008 global financial crisis.
Declines in residential investment preceded the Great Recession and were followed by reductions in household spending and then business investment.
Financial crisis of 2007–2008
13 linksSevere worldwide economic crisis that occurred in the early 21st century.
Severe worldwide economic crisis that occurred in the early 21st century.
The crisis sparked the Great Recession which resulted in increases in unemployment and suicide and decreases in institutional trust and fertility, among other metrics.
Great Depression
5 linksSevere worldwide economic depression between 1929 and 1939 that began after a major fall in stock prices in the United States.
Severe worldwide economic depression between 1929 and 1939 that began after a major fall in stock prices in the United States.
By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession.
Recession
8 linksBusiness cycle contraction when there is a general decline in economic activity.
Business cycle contraction when there is a general decline in economic activity.
Thus, if the 2008 recession had followed the average, the downturn in the stock market would have bottomed around November 2008.
Paul Krugman
6 linksAmerican economist and public intellectual, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.
American economist and public intellectual, who is Distinguished Professor of Economics at the Graduate Center of the City University of New York, and a columnist for The New York Times.
Krugman has since drawn parallels between Japan's 'lost decade' and the late 2000s recession, arguing that expansionary fiscal policy is necessary as the major industrialized economies are mired in a liquidity trap.
Shadow banking system
3 linksTerm for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal banking regulations.
Term for the collection of non-bank financial intermediaries that provide services similar to traditional commercial banks but outside normal banking regulations.
Shadow banking has grown in importance to rival traditional depository banking, and was a factor in the subprime mortgage crisis of 2007–2008 and the global recession that followed.
Economy of the United States
4 linksHighly developed country with a free market economy and has the world's largest nominal GDP and net wealth.
Highly developed country with a free market economy and has the world's largest nominal GDP and net wealth.
The U.S. economy experienced a serious economic downturn during the Great Recession, defined as lasting from December 2007 to June 2009.
Unemployment
4 linksPeople above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period.
People above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period.
A historic shift began around the end of the Great Recession as women began leaving the labor force in the United States and other developed countries.
G20
3 linksIntergovernmental forum comprising 19 countries and the European Union .
Intergovernmental forum comprising 19 countries and the European Union .
On 11 October 2008 after a meeting of G7 finance ministers, US President George W. Bush stated that the next meeting of the G20 would be important in finding solutions to the burgeoning economic crisis of 2008.
Income inequality in the United States
3 linksExtent to which income is distributed in differing amounts among the American population.
Extent to which income is distributed in differing amounts among the American population.
It fell to 11.3% in 2009 due in part to the impact on investment income from the Great Recession, then increased thereafter, to 14.9% by 2012 as the economy recovered.