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 [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
