Carroll, Chris; Slacalek, Jirka - 2009
, Credit Crunch, Financial Crisis
1 Carroll: Department of Economics, Johns Hopkins University, Baltimore, MD, and Center For … Economic Research), along with the pattern of retail sales spending
following the other business cycle peaks in the postwar … period. (The level of sales
is indexed to 100 at the beginning of each business cycle peak). The gray interval
in the diagram …