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The case of the reluctant recovery

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  • William E. Cullison

Abstract

Anecdotal evidence has it that the 1990-91 downturn was a predominantly white-collar, or middle management, recession. The data, however, show that the recession affected virtually all occupational groups. Moreover, by standards of past recessions, the 1990-91 downturn was relatively mild. It is the failure of employment to recover that is unusual. Evidence presented here indicates that the economys behavior results from a blend of cyclical and structural factors, with the structural factors delaying the recovery.

Suggested Citation

  • William E. Cullison, 1992. "The case of the reluctant recovery," Economic Review, Federal Reserve Bank of Richmond, vol. 78(Jul), pages 3-13.
    • Handle: RePEc:fip:fedrer:y:1992:i:jul:p:3-13:n:v.78no.4
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    References listed on IDEAS

    as
    1. Medoff, J.L., 1992. "The New Unemployment," Harvard Institute of Economic Research Working Papers 1620, Harvard - Institute of Economic Research.
    2. David E. Altig & Michael F. Bryan, 1992. "Can conventional theory explain the unconventional recovery?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Apr.
    3. Stephen K. McNees, 1992. "The 1990-91 recession in historical perspective," New England Economic Review, Federal Reserve Bank of Boston, issue Jan, pages 3-22.
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    Keywords

    Recessions;

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