Staff View
Economic Soft Patch 2: A Second-Half Rebound or Redux?

Descriptive

TypeOfResource
Text
TitleInfo
Title
Economic Soft Patch 2: A Second-Half Rebound or Redux?
Name (type = personal)
NamePart (type = family)
Hughes
NamePart (type = given)
James W.
Affiliation
Dean's Office (Edward J. Bloustein School of Planning and Public Policy), Rutgers University
Role
RoleTerm (authority = marcrt); (type = text)
author
Name (type = personal)
NamePart (type = family)
Seneca
NamePart (type = given)
Joseph J.
Role
RoleTerm (authority = marcrt); (type = text)
author
Name (authority = RutgersOrg-Department); (type = corporate)
NamePart
Dean's Office (Edward J. Bloustein School of Planning and Public Policy)
Name (authority = RutgersOrg-School); (type = corporate)
NamePart
Edward J. Bloustein School of Planning and Public Policy
Genre (authority = RULIB-FS)
Other Publication
OriginInfo
DateCreated (encoding = w3cdtf); (keyDate = yes); (qualifier = exact)
2011
Abstract (type = Abstract)
As this issue (August 2011) of the Advance & Rutgers Report was on press, the Bureau of Economic Analysis of the U.S. Department of Commerce released revised Gross Domestic Product (GDP) estimates on July 29, 2011 that showed the December 2007– June 2009 recession to be far deeper than originally determined. The 4.1 percent recessionary decline in real GDP was revised to a much larger 5.1 percent decrease; therefore, the analysis of economic output starting on page 8 of this report is slightly altered.

Before the revisions, GDP had fully recovered all of its recessionary losses by the fourth quarter of 2010, 36 months after the recession began. However, the revised estimates show that GDP had not yet fully recovered its recessionary losses by the second quarter of 2011, 42 months after the recession began. This affects figures 3 and 4 on pages 9 and 10 of the report.

But the conclusions in the report remain valid: The U.S. economy today is close (real GDP in the second quarter of 2011 is 0.42 percent below the fourth quarter of 2007) to producing the same pre-recessionary economic output with about 7 million fewer private-sector workers, and the time elapsed for full recovery of economic output (42 months and counting) is far more severe than the recovery time (21 months) from the July 1981-November 1982 recession, the previous post-World War II record holder.
Language
LanguageTerm (authority = ISO 639-3:2007); (type = text)
English
PhysicalDescription
InternetMediaType
application/pdf
Extent
14 p.
Subject (authority = local)
Topic
Advance & Rutgers report
Subject (authority = local)
Topic
Economy
Subject (authority = LCSH)
Topic
Recessions--United States
Subject (authority = local)
Topic
GDP
Subject (authority = LCSH)
Topic
Gross domestic product
Subject (authority = lcsh/lcnaf)
Geographic
New Jersey--Commerce
Subject (authority = lcsh/lcnaf)
Geographic
United States--Commerce
RelatedItem (type = host)
TitleInfo
Title
Seneca, Joseph J.
Identifier (type = local)
rucore30154400001
RelatedItem (type = host)
TitleInfo
Title
Hughes, James W.
Identifier (type = local)
rucore30150500001
Extension
DescriptiveEvent
Type
Citation
DateTime (encoding = w3cdtf)
2011
AssociatedObject
Type
Journal
Relationship
Has part
Name
Advance & Rutgers Report
Identifier (type = volume and issue)
6
Reference (type = digital)
http://www.policy.rutgers.edu/reports/arr/
Detail
1-14
Note (type = version identification)
This report was published as Issue Paper Number 6, August 2011, in Advance & Rutgers Report.
Location
PhysicalLocation (authority = marcorg); (displayLabel = Rutgers, The State University of New Jersey)
NjNbRU
Identifier (type = doi)
doi:10.7282/T3QJ7FSG
Genre (authority = NISO JAV)
Version of Record (VoR)
Back to the top

Rights

RightsHolder (type = personal)
Name
FamilyName
Hughes
GivenName
James
MiddleName
W.
Role
Copyright holder
RightsHolder (type = personal)
Name
FamilyName
Seneca
GivenName
Joseph
MiddleName
J.
Role
Copyright holder
RightsDeclaration (AUTHORITY = FS); (ID = rulibRdec0004)
Copyright for scholarly resources published in RUcore is retained by the copyright holder. By virtue of its appearance in this open access medium, you are free to use this resource, with proper attribution, in educational and other non-commercial settings. Other uses, such as reproduction or republication, may require the permission of the copyright holder.
Copyright
Status
Copyright protected
Availability
Status
Open
Reason
Permission or license
RightsEvent
Type
Permission or license
AssociatedObject
Type
License
Name
Multiple author license v. 1
Detail
I hereby grant to Rutgers, The State University of New Jersey (Rutgers) the non-exclusive right to retain, reproduce, and distribute the deposited work (Work) in whole or in part, in and from its electronic format, without fee. This agreement does not represent a transfer of copyright to Rutgers.Rutgers may make and keep more than one copy of the Work for purposes of security, backup, preservation, and access and may migrate the Work to any medium or format for the purpose of preservation and access in the future. Rutgers will not make any alteration, other than as allowed by this agreement, to the Work.I represent and warrant to Rutgers that the Work is my original work. I also represent that the Work does not, to the best of my knowledge, infringe or violate any rights of others.I further represent and warrant that I have obtained all necessary rights to permit Rutgers to reproduce and distribute the Work and that any third-party owned content is clearly identified and acknowledged within the Work.By granting this license, I acknowledge that I have read and agreed to the terms of this agreement and all related RUcore and Rutgers policies.
Back to the top

Technical

RULTechMD (ID = TECHNICAL1)
ContentModel
Document
Back to the top
Version 8.3.12
Rutgers University Libraries - Copyright ©2019