In economics,a recession is a business cycle contraction when there is a general decline in economic activity. Recessions generally occur when there is a widespread drop in spending. This may be triggered by various events,such as a financial crisis,an external trade shock,an adverse supply shock,the bursting of an economic bubble,or a large-scale anthropogenic or natural disaster.
Reaganomics,or Reaganism,were the neoliberal economic policies promoted by U.S. President Ronald Reagan during the 1980s. These policies are characterized as supply-side economics,trickle-down economics,or "voodoo economics" by opponents,while Reagan and his advocates preferred to call it free-market economics.
George Arthur Akerlof is an American economist and a university professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California,Berkeley. Akerlof was awarded 2001 Nobel Memorial Prize in Economic Sciences,jointly with Michael Spence and Joseph Stiglitz,"for their analyses of markets with asymmetric information."
Monetary economics is the branch of economics that studies the different competing theories of money:it provides a framework for analyzing money and considers its functions,and it considers how money can gain acceptance purely because of its convenience as a public good. The discipline has historically prefigured,and remains integrally linked to,macroeconomics. This branch also examines the effects of monetary systems,including regulation of money and associated financial institutions and international aspects.
Nicholas Gregory Mankiw is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics.
The causes of the Great Depression in the early 20th century in the United States have been extensively discussed by economists and remain a matter of active debate. They are part of the larger debate about economic crises and recessions. The specific economic events that took place during the Great Depression are well established.
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". The NBER is well known for providing start and end dates for recessions in the United States.
Martin Stuart Feldstein was an American economist. He was the George F. Baker Professor of Economics at Harvard University and the president emeritus of the National Bureau of Economic Research (NBER). He served as president and chief executive officer of the NBER from 1978 to 2008. From 1982 to 1984,Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan. Feldstein was also a member of the Washington-based financial advisory body the Group of Thirty from 2003.
Anna Jacobson Schwartz was an American economist who worked at the National Bureau of Economic Research in New York City and a writer for The New York Times. Paul Krugman has said that Schwartz is "one of the world's greatest monetary scholars."[1]
Austan Dean Goolsbee is an American economist and writer. He is the President of the Federal Reserve Bank of Chicago. Goolsbee formerly served as the Robert P. Gwinn Professor of Economics at the University of Chicago's Booth School of Business,and as the Chairman of the Council of Economic Advisers from 2010-2011 and as a member of President Barack Obama's cabinet. He served as a member of the Chicago Board of Education from 2018-2019.
Jason Furman is an American economist and professor at Harvard University's John F. Kennedy School of Government and a nonresident senior fellow at the Peterson Institute for International Economics. On June 10,2013,Furman was named by President Barack Obama as chair of the Council of Economic Advisers (CEA). Furman has also served as the deputy director of the U.S. National Economic Council,which followed his role as an advisor for the Barack Obama 2008 presidential campaign.
David Hibbard Romer is an American economist,the Herman Royer Professor of Political Economy at the University of California,Berkeley,and the author of a standard textbook in graduate macroeconomics as well as many influential economic papers,particularly in the area of New Keynesian economics. He is also the husband and close collaborator of Council of Economic Advisers former Chairwoman Christina Romer.
The Depression of 1920–1921 was a sharp deflationary recession in the United States,United Kingdom and other countries,beginning 14 months after the end of World War I. It lasted from January 1920 to July 1921. The extent of the deflation was not only large,but large relative to the accompanying decline in real product.
Carmen M. Reinhart is a Cuban-American economist and the Minos A. Zombanakis Professor of the International Financial System at Harvard Kennedy School. Previously,she was the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics and Professor of Economics and Director of the Center for International Economics at the University of Maryland. She is a research associate at the National Bureau of Economic Research,a Research Fellow at the Centre for Economic Policy Research,Founding Contributor of VoxEU,and a member of Council on Foreign Relations. She is also a member of American Economic Association,Latin American and Caribbean Economic Association,and the Association for the Study of the Cuban Economy. She became the subject of general news coverage when mathematical errors were found in a research paper she co-authored.
Gerald Carl Friedman is an economics professor at the University of Massachusetts at Amherst. He became nationally prominent during the 2016 U.S. presidential election after writing an analysis of Democratic Party candidate Bernie Sanders campaign's policies in which Friedman concluded that these policies would produce significant economic growth in the United States if they were enacted. Friedman also received strong backlash for these remarks,from editorial pundits and fellow academics.
Emi Nakamura is a Canadian-American economist. She is the Chancellor's Professor of Economics at University of California,Berkeley.
Yuriy Gorodnichenko is an economist and Quantedge Presidential professor at the University of California,Berkeley.
Luisa Lambertini is an Italian economist specialized in monetary and fiscal policies. She is a professor of economics at EPFL,where she holds the Chair of International Finance at the College of Management of Technology.
Nada O. Eissa is an American economist who is an associate professor of Public Policy and Economics at Georgetown University and a Research Associate of the National Bureau of Economic Research (NBER). She was Deputy Assistant Secretary of the Treasury for Economic Policy (microeconomics) in 2005–2007.
