The case of the reluctant recovery
Abstract: Anecdotal evidence has it that the 1990-91 downturn was a predominantly white-collar, or middle management, recession. The data, however, show that the recession affected virtually all occupational groups. Moreover, by standards of past recessions, the 1990-91 downturn was relatively mild. It is the failure of employment to recover that is unusual. Evidence presented here indicates that the economys behavior results from a blend of cyclical and structural factors, with the structural factors delaying the recovery.
File(s): File format is application/pdf https://fraser.stlouisfed.org/files/docs/publications/frbrichreview/rev_frbrich199207.pdf
Provider: Federal Reserve Bank of Richmond
Part of Series: Economic Review
Publication Date: 1992