APPENDIX R
U.S. Business Cycle Expansions and Contractions
Source: National Bureau of Economic Research, Inc. “US Business Cycle Expansions and Contractions,” http://www.nber.org/cycles/cyclesmain.html.
The determination that the last expansion ended in December 2007 is the most recent decision of the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER). The NBER does not define a recession in terms of two consecutive ...
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