The financial and banking crises in USA in late 2007 led to a decline in economic activities in the industrialized countries, triggering a world-wide recession since then. The ongoing global economic downturn has brought into sharp focus the subject of macroeconomic interdependence of Pacific...

Characteristics of recessions -- The recession of 1948-49 -- The recession of 1953-54 -- The recession of 1957-58 -- The recession of 1960-61 -- The recession of 1969-70 -- The recession of 1973-75 -- The recession of 1980 -- The recession of 1981-82 -- The recession of 1990-91 -- The recession...