I know the technical definition of a recession- a GDP contraction lasting at least two quarters- but do not have a satisfactory answer as to what happens.
A non-exhaustive list of the kinds of consequences I’m thinking of, sometimes including references, which are intended to be suggestive not definitive:
[Question] What happens in a recession anyway?
I know the technical definition of a recession- a GDP contraction lasting at least two quarters- but do not have a satisfactory answer as to what happens.
A non-exhaustive list of the kinds of consequences I’m thinking of, sometimes including references, which are intended to be suggestive not definitive:
How do employment and wages change?
How does it vary by demographics and industry
Does life expectancy go up or down?
For which demographics?
Changes in suicide specifically?
Which good become cheaper? Which more expensive?
How does mobility change?
How do social norms change?
Church attendance?
Sexual and romantic norms?
Marriage rates? Divorce rates?
Child rearing patterns?