Some International Evidence on Double-Dip Recession

Ben L. Kyer () and Gary E. Maggs
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Ben L. Kyer: Francis Marion University
Gary E. Maggs: St. John Fisher College

International Advances in Economic Research, 2019, vol. 25, issue 3, No 8, 347-362

Abstract: Abstract With quarterly data on real gross domestic product for 21 nations from the Organization for Economic Co-operation and Development, this paper investigates the relatively neglected concept of double-dip recession. For this paper, a double-dip recession is defined as a second decline of real gross domestic product (GDP) after a trough of the economic cycle but prior to the reversion point or the previous peak level of real GDP. We find that while traditional or single-dip recessions constitute the majority of the recessions found for this paper, double-dip recessions are rather common occurrences across the world. However, higher-order multi-dip recessions, with three or more declines of real GDP before the reversion point is attained, are considerably less prevalent. We also find evidence of what we term trough-deepening multi-dip recessions.

Keywords: Double-dip recession; Reversion point; E30 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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DOI: 10.1007/s11294-019-09747-2

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