000			01112pab a2200181 454500
008			180718b2013 xxu||||| |||| 00| 0 eng d
100			_aNg, Serena
245			_aFacts and challenges from the great recession for forecasting and macroeconomic modeling'
260			_c2013
300			_ap.1120-1154.
362			_aDec
520			_aThis 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.
650			_aEconomic recession
700			_aWright, Jonathan H.
773			_aJournal of Economic Literature
908			_aN
909			_a103421
999			_c103417 _d103417