Fatás, Antonio; Mihov, Ilian - C.E.P.R. Discussion Papers - 2013
reference to a recovery phase in the business cycle, but such a phase is absent in the most-accepted methodology to characterize … business cycles: that of the NBER business cycle dating committee. This paper explores data from the US to characterize and … date a recovery phase in the business cycle. Rather than interpreting fluctuations as a two-phase cycle, we describe it as …