On Jan 13, 2009, at 3:25 PM, Jim Devine wrote:
The two quarters definition is journalists' summary of the (unofficial) NBER definition. The summary almost always works. It's notable that it didn't with the 2008 recession: as I understand it, the NBER people broke away from the usual emphasis on production, because the job market was clearly in bad shape.
They give employment and production equal weight:
<http://www.nber.org/cycles/dec2008.html>. _______________________________________________ pen-l mailing list pen-l@xxxxxxxxxxxxxxxxxx https://lists.csuchico.edu/mailman/listinfo/pen-l
- [Pen-l] Proletarian _Inter_nationalism, (continued)
- [Pen-l] Proletarian _Inter_nationalism, Charles Brown Wed 14 Jan 2009, 16:23 GMT
- [Pen-l] Recession and GDP drop, Charles Brown Tue 13 Jan 2009, 19:29 GMT
- Re: [Pen-l] Recession and GDP drop, Doug Henwood Tue 13 Jan 2009, 19:39 GMT
- Re: [Pen-l] Recession and GDP drop, Jim Devine Tue 13 Jan 2009, 19:58 GMT
- Re: [Pen-l] Recession and GDP drop, Doug Henwood Tue 13 Jan 2009, 21:02 GMT
- <Possible follow-up(s)>
- [Pen-l] Recession and GDP drop, Charles Brown Wed 14 Jan 2009, 17:20 GMT
- Re: [Pen-l] Recession and GDP drop, Max Sawicky Wed 14 Jan 2009, 18:03 GMT
- [Pen-l] From Mississippi to Gaza, mckenna193 Wed 14 Jan 2009, 18:38 GMT
- [Pen-l] A Bard professor chimes in, Louis Proyect Tue 13 Jan 2009, 19:27 GMT