Popular economic narratives advancing the longest U.S. expansion 2009–2019

Robert J. Shiller

Journal of Policy Modeling, 2020, vol. 42, issue 4, 791-798

Abstract: The U.S. economic expansion since 2009 is the longest on record since 1854, according to the National Bureau of Economic Research Business Cycle Dating Committee. This paper seeks to understand this phenomenon better by looking at the time paths of popular narratives over this interval, of stories that people have been telling that offer clues into their economic behavior. Six constellations of narratives are studied, identified by keywords “Great Depression,” “secular stagnation,” “sustainability,” “housing bubble,” “strong economy,” and “save more.”

Keywords: Great Depression: Secular stagnation; Sustainability; Housing bubble; Strong economy; Save more (search for similar items in EconPapers)
JEL-codes: D91 E21 E32 E44 E71 (search for similar items in EconPapers)
Date: 2020
References: View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:42:y:2020:i:4:p:791-798

DOI: 10.1016/j.jpolmod.2020.03.005

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