Friday, August 22, 2008

NBER, Recession, Two Consecutive Quarters?

As there is much ballyhoo and debate as to whether or not we're in a recession, I've found it typically economist-ish for the Federal Reserve and the NBER to have different definitions of a recession. This only continues to further confuse the masses and deter people from not only studying economics, but trying to understand it.

Ergo, I was happy when I saw this on Foxnews which does a pretty good job breaking down the differences between NBER's definition of a recession and the traditional definition of a recession.

2 comments:

Anonymous said...

Nice article. Defining a recession is something that even many economists don't learn in college.

However, there was one thing I didn't understand. Can you explain to me what a "sex month period" is?

Captain Capitalism said...

It's a new holiday I will institute in America when I become president.