Guerrón-Quintana, Pablo A.; Jinnai, Ryo - In: Quantitative economics : QE ; journal of the … 10 (2019) 2, pp. 735-773
We study the causes behind the shift in the level of U.S. GDP following the Great Recession. To this end, we propose a … disturbances during the recession and the lack of strong tailwinds post-crisis resulted in a severe contraction and the downward … its average growth rate. From a historical perspective, the Great Recession was unique because of the size and persistence …
