Spanish paper proposes new measures for economic recoveries
Researchers apply new tests to data on US post-war expansions
A working paper published by the Bank of Spain proposes what the authors call “a set of new quantitative measures to characterise more fully the features of economic recoveries”.
In Dissecting US recoveries, María Dolores Gadea, Ana Gómez-Loscos and Gabriel Pérez-Quirós outline four new sets of measures. The first, they say, “captures the evolution over time of the shape of expansion”. The second captures the “early stages of expansions”, while the third looks at the middle of the expansionary
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