By "this," Hall is referring to an opposing economic picture painted by the two most important indicators the committee uses to assess whether - and what month - the economy has entered a recession. But real gross domestic product has only posted one quarter of contraction so far this year. Economists' technical definition of a recession is more complicated than the conventional definition, which calls a recession two or more straight quarters of shrinking GDP.
I am inclined to agree with Robert Gordon and Jeffrey Frankel that the recession probably ended sometime in the second half of
A business cycle dating committee will strengthen the information base for the economy and help gauge its changing nature. It has been a quarter of a century since India commenced the journey of opening its economy to the world. But the idea of a business cycle dating committee BCDC for India has not received sufficient attention. Most of the research in business cycles is done keeping in mind advanced industrial economies.
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