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What We’re In For: Projected Economic Impact of the Next Recession

Author

Listed:
  • Dean Baker
  • John Schmitt

Abstract

This report uses the past three recessions of the early 1980s, early 1990s and early 2000s to project the effects of a recession in 2008. The report finds that such a recession would result in a significant rise in unemployment and the poverty rate along with a significant decrease in the employment rate and the median family income. These effects would be felt long after financial markets begin to recover with workers feeling the negative effects of the recession for the next three to four years.

Suggested Citation

  • Dean Baker & John Schmitt, 2008. "What We’re In For: Projected Economic Impact of the Next Recession," CEPR Reports and Issue Briefs 2008-03, Center for Economic and Policy Research (CEPR).
    • Handle: RePEc:epo:papers:2008-03
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    File URL: http://www.cepr.net/documents/publications/JSDB_08recession.pdf
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    Cited by:

    1. Hye Jin Rho & Danilo Pelletiere & Dean Baker, 2008. "The Changing Prospects for Building Home Equity: An Updated Analysis of Rents and the Price of Housing in 100 Metropolitan Areas," CEPR Reports and Issue Briefs 2008-26, Center for Economic and Policy Research (CEPR).

    More about this item

    Keywords

    recession; unemployment; poverty;
    All these keywords.

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E66 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General Outlook and Conditions

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