01112pab a2200181 454500 180718b2013 xxu||||| |||| 00| 0 eng d Ng, Serena Facts and challenges from the great recession for forecasting and macroeconomic modeling' 2013 p.1120-1154. Dec This paper provides a survey of business cycle facts, updated to take account of recent data. Emphasis is given to the Great Recession, which was unlike most other postwar recessions in the United States in being driven by deleveraging and financial market factors. We document how recessions with financial market origins are different from those driven by supply or monetary policy shocks. This helps explain why economic models and predictors that work well at some times do poorly at other times. We discuss challenges for forecasters and empirical researchers in light of the updated business cycle facts. - Reproduced. Economic recession Wright, Jonathan H. Journal of Economic Literature N 103421 103417 103417 0 0 0 0 IIPA IIPA 2018-07-19 Volume no: 51, Issue no: 4 AR103881 2018-07-19 2018-07-19 AR