Download This PaperThe Doubly Rare Recession of 2007: Consumer Debt Limit Recession; Balance Sheet Recession
2 Pages Posted: 4 Jul 2009 Last revised: 8 Jul 2009
Date Written: July 4, 2009
Abstract
The current recession is poorly understood. It is a combination of a very rare consumer debt limit recession and a very rare balance sheet recession. That makes it unique, dangerous and long lasting. It is leading to an extended period of low double digit unemployment that will be very hard to remedy.
Keywords: Recession, Consumer Debt Limit, Balance Sheet, Unemployment, Double Digit
JEL Classification: E00, E20, E30, E60
Suggested Citation: Suggested Citation
Gutmann, Peter, The Doubly Rare Recession of 2007: Consumer Debt Limit Recession; Balance Sheet Recession (July 4, 2009). Available at SSRN: https://ssrn.com/abstract=1429863 or http://dx.doi.org/10.2139/ssrn.1429863
Peter Gutmann (Contact Author)
City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance ( email )
17 Lexington Avenue
New York, NY 10010
United States
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.