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Business cycle dating committee defines a recession


The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." Many of the Chairmen of the Council of Economic Advisers have also been NBER Research Associates, including the former NBER President and Harvard Professor, Martin Feldstein. Its first staff economist, director of research, and one of its founders was American economist Wesley Mitchell. In the early 1940s, Kuznets' work on national income became the basis of official measurements of GNP and other related indices of economic activity.

The common or popular usage boom-and-bust cycle refers to fluctuations in which the expansion is rapid and the contraction severe. [ citation needed ]


Business cycle dating committee defines a recession

Business cycle dating committee defines a recession



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