Here is the synopsis of our sample research paper on Economic Recession. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 3 page research paper that examines how "recession" is defined, how it is determined by the National Bureau of Economic Research (NBER) and status of the latest economic recession that began in March 2001. The writer discusses NBER's announcement that this recession is over and how the monetary policies of the Fed affected ending the recession. Bibliography lists 5 sources.
Page Count:
3 pages (~225 words per page)
File: D0_khrecess.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
real gross national product." However, as McCafferty (2002) points out, if you ask any three economists to define "recession," you will get four answers. According to economist Ken Goldstein,
the concept of a recession being defined by two or more consecutive quarters of economic decline in the gross domestic product (GDP) is only a "rule of thumb" (McCafferty, 2002,
p. 17). Defining economic trends, where they begin and end, appears to be as much an art as a science. The official branch of the government that determines economic
cycles if the National Bureau of Economic Research (NBER). NBER uses more than the GDP in determining whether or not the country is in recession and also when that recession
ends. Along with the GDP, NBER looks at monthly indications such as unemployment rates, personal income averages and industrial production (McCafferty, 2002). Frequently the Business Cycle Dating Committee of NBER
will postpone announcing that a recession is officially over until it is clear that the economy will not worsen further (McCafferty, 2002). Whether or not the economy recovers from a
recession is largely the responsibility of the monetary policy established by the Federal Reserve System (known simply as the "Fed"). The Fed is the nations central bank. It was
established by Congress in 1913 and consists of seven members of the Board of Governors located in Washington, DC and also twelve Federal Reserve District Banks (FRBSF, 2003). In answer
to the question posed by the student researching this subject as to why the Fed has failed to "end the recession with its many cuts in the Fed fund rate,"
the answer is that the Feds monetary policies have ended the recession. On July 17, 2003, the Business Cycle Dating Committee of NBER announced that the US economy experienced a
...