The Great Depression and the 2007-2009 Recession: The First Two Years Compared
Year: 2010
Type: preprint
Abstract: The 2007-2009 recession was the most severe economic downturn since the Great Depression. However, most research regarding the Great Depression focuses on the entire decade of the 1930s. This paper compares the first two years of the Great Depression and 2007-2009 recession, including the: (1) causes; (2) severity; and (3) policy reactions. When viewed in this manner, it appears that the more recent financial downturn is not “another Great Depression.” While in some respects it was more severe than the Great Depression in year one, the two year data indicates that direct comparisons are not warranted.
Source: SSRN Electronic Journal
Authors: Hamid Shomali, Gwendolyn Giblin
Institution: Golden Gate University
Language: English
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2183060310