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The Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) provides the official dates for the peaks and troughs of economic fluctuations. "The NBER does not define a recession in terms of two consecutive quarters of decline in real GDP. Rather, a recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." [obscured] /cycles.html The dating of expansions defaults from the dating of recessions.
You have been assigned a specific expansion March 1991 to March 2001 . You can find the announcement of the peaks and troughs since January 1980 at the NBER website.
To complete this assignment, you must do the following:
1. Graph the data for your time period using FRED;
2. Calculate the length of the expansion in months;
3. Compare and contrast your expansion with the four other exp...
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