Glossary of Finance Terms - Depression |
Depression
: A depression is a long downturn
of a country's economy, usually marked by
a long economic recession, decline in economic
growth, increase in job cuts, significant
increases in unemployment, and a significant
downturn in stock markets. Where a recession
is seen as a normal fluctuation in the business
cycle, a depression is longer and encompasses
restrictions in credit and lending which
influence investment and spending. Other
common effects of a depression include deflation
or hyperinflation.
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Unlike recessions
that can be categorized by government and
non-government agencies, there are no standard
measurements to define a depression. One
common explanation of a depression is when
a significant number of individuals must
sell assets in order to afford the basic
necessities of living. Such circumstances
arose in the US and Germany in the 1920s
and 1930s, a period called the Great Depression.
The Long Depression, another extended period
of economic turmoil, occurred between 1873
and 1896.
Also called : Depressionary Economy,
Depressed Economy.
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