Report
The length of recessions
We look at what makes a recession short or long, comparing the United States and the euro zone, as well as different recessions over time. In principle, the difference between a short recession and a long recession may result from: The strength of the countercyclical economic policy response; The pace of the normalisation of corporate earnings and therefore investment and employment; The pace of the normalisation of the most cyclical components of production (industry, construction). We find that: Recessions are shorter in the United States than in the euro zone; The 2000-2001 recession was shorter than the recession of 2008-2009 (and subsequent years); The three above explanations of recession length are pertinent.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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