The 2001 Recession: How Was It Different and What Developments May Have Caused It? (ICPSR 1292)

Version Date: Oct 9, 2003

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Principal Investigator(s):
Kevin L. Kliesen, Federal Reserve Bank of St. Louis

https://doi.org/10.3886/ICPSR01292.v1

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Summary

The 2001 recession was unique in several respects. For instance, the peak-to-trough decline in real Gross Domestic Product was one of the smallest on record and its duration was slightly shorter than average. This article examines some of the other unique features of the 2001 recession compared with the "average" post-World War II recession. The author also shows that forecasters were surprised by the onset of the recession, perhaps because of incomplete data available to them in real time. Finally, the article examines the errors from a well-known macroeconomic forecast and finds that forecasters were surprised by the declines in real business and household fixed investment, as well as real net exports, before the March 2001 business cycle peak.

Citation

Kliesen, Kevin L. The 2001 Recession:  How Was It Different and What Developments May Have Caused It? Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2003-10-09. https://doi.org/10.3886/ICPSR01292.v1

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Subject Terms

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Distributor(s)

Inter-university Consortium for Political and Social Research
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Data Collection Notes

  1. (1) The file submitted is the Excel data file 0309kkd.xls. (2) These data are part of ICPSR's Publication-Related Archive and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

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Original Release Date

2003-10-09

Version History

2018-02-15 The citation of this study may have changed due to the new version control system that has been implemented. The previous citation was:
  • Kliesen, Kevin L. The 2001 Recession: How Was It Different and What Developments May Have Caused It?. ICPSR01292-v1. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2003-10-09. http://doi.org/10.3886/ICPSR01292.v1
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Notes

  • These data are flagged as replication datasets and are distributed exactly as they arrived from the data depositor. ICPSR has not checked or processed this material. Users should consult the investigator(s) if further information is desired.

  • The public-use data files in this collection are available for access by the general public. Access does not require affiliation with an ICPSR member institution.