Business cycle dating committee members
Findings Methodology Data sources FAQs The CEPR Euro Area Business Cycle Dating Committee, which is composed of nine CEPR researchers, establishes the chronology of recessions and expansions of the eleven-original euro-area member countries plus Greece for 1970-1998, and of the entire euro area from 1999 onwards.
The Committee released its new findings in August 2017.
Similarly, during an expansion, economic activity rises substantially, spreads across the economy, and usually lasts for several years.The NBER's Business Cycle Dating Committee maintains a chronology of the U. A recession is a period between a peak and a trough, and an expansion is a period between a trough and a peak. The chronology comprises alternating dates of peaks and troughs in economic activity.Its main conclusion is that since the last trough in 2013Q1, the euro area has been recovering at a slow but steady pace.This post-recession recovery is commensurate with that of the US recovery, considering it began later, after the double-dip European recession that followed the global financial crisis. Since then there have been five complete cyclical episodes (recession followed by expansion).
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In determining the chronology of the euro area business cycle, the CEPR Committee adopted a definition of a recession similar to that used by the National Bureau of Economic Research (NBER), which has for many years dated the US business cycle.