POLICY BRIEF: Recessions following expansions: The instability of market economies


  • To provide new facts about business cycles in the economy and challenge the common view that the economy is fundamentally stable 
  • Developing models that illustrate a necessary trade-off between severity and length of recessions 
  • Recommend structural policies to limit recessions, rather than responses to shocks

By Paul Beaudry, Dana Galizia and Franck Portier

View the policy brief.