Thesis: Defining Recession

Sample Thesis Paper

Carrying out a research on the implications of a recession would be injustice to the objectives of the research and the effort made in lieu of the research. However, when attempting to define the exact definition of a recession, there are numerous definitions available, each of which attempts to shed light on a recession through a different macro-economic perspective. It is therefore preferable to consult a number of definitions on the subject before establishing any one as the threshold by which the research is to be conducted.

Knoop (2004) defines recession as two or more successive quarters of negative GDP growth of an economy. According to this definition recession comprises of two or more consecutive quarters of negative GDP growth which means that an expansion in the economy would result if there would be two or more consecutive quarters of positive GDP growth.

This means that the peak of an expansion is that point at which the level of GDP of that particular economy reaches its ceiling point after which it starts to decline. Hence the peak of an expansion would end up in the commencement of recession.  Similarly the channel of recession is the point at which the GDP falls to its lowest point after which it starts to increase again.

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