The 2007-2009 Recession: Similarities to and Differences from the Past

Marc Labonte

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Monetary Policy and Economic Impact Global Financial Crisis and Policies Unemployment and Economic Growth

Abstract

According to the National Bureau of Economic Research (NBER), the U.S. economy was in a recession for 18 months from December 2007 to June 2009. It was the longest and deepest recession of the post-World War II era. This report provides information on the patterns found across past recessions since World War II to gauge whether and how this recession might be different.

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