IDEAS home Printed from https://ideas.repec.org/h/pal/palchp/978-1-137-40122-9_7.html
   My bibliography  Save this book chapter

Aftermath of the Great Recession: The Anemic Recovery

In: The Financial Crisis and Federal Reserve Policy

Author

Listed:
  • Lloyd B. Thomas

Abstract

The Great Recession has been dated by the National Bureau of Economic Research to have extended from December 2007 through June 2009. By the criterion of percentage peak-to-trough decline in real GDP as well as numerous other standards reported in chapter 6, this was the deepest U.S. economic contraction since the Great Depression of 1929–1933. Real GDP declined by 4.7 percent from peak to trough, and during the ensuing recovery it failed to achieve parity with the prerecession level until the second quarter of 2011—nearly four years after the recession began. In real terms, both median household income and per capita GDP remained lower in 2013 than in 2007. Owing to the severe decline and slow recovery of house prices, real median household wealth was also lower in 2013 than in 2007.

Suggested Citation

  • Lloyd B. Thomas, 2013. "Aftermath of the Great Recession: The Anemic Recovery," Palgrave Macmillan Books, in: The Financial Crisis and Federal Reserve Policy, edition 0, chapter 0, pages 97-111, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40122-9_7
    DOI: 10.1057/9781137401229_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-1-137-40122-9_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.