At the same time, it spares an already weak economy damaging fiscal contraction in the short run.

A sharp contraction in jobs and labor income has many negative consequences on both the economy and financial markets.

A significant equity price correction could, in fact, be the force that in 2013 tips the US economy into outright contraction.

China s Inscrutable Contraction

The Great Contraction of 2008 2009

Moreover, the extremely sharp contraction in first quarter GDP may indicate that the disaster s negative impact on the economy was more significant than expected.

The Second Great Contraction

Fiscal contraction is contractionary, period.

To be sure, demand contraction was inevitable in these countries, given that they were living far beyond their means no economy can permanently sustain a rate of demand growth exceeding that of GDP.

In short, QE3 reduces the tail risk of an outright economic contraction, but is unlikely to lead to a sustained recovery in an economy that is still enduring a painful deleveraging process.

This threatens to aggravate the damaging contraction of global trade.

The United States economy is currently growing at 1.5 per year (about a full percentage point less than potential), and growth may slow, owing to a small fiscal contraction this year.

New York Recent data suggest that the rate of contraction in the world economy may be slowing. But hopes that green shoots of recovery may be springing up have been dashed by plenty of yellow weeds.

This contraction has become even more severe since then.

After many years of contraction, investment in construction also will rise slightly.

The period of gravitational contraction lasts about 10 to 15 million years.

Following the German economy s sharp contraction in the last quarter of 2012, the question for the country today is whether it can avoid a technical recession (defined as two consecutive quarters of economic contraction).

The ensuing losses will aggravate the financial turmoil and economic contraction.

But Keynesianism involved continued fiscal expansion, with no offsetting monetary contraction.

5. Further welcomes the assessment by the Caribbean Development Bank in its 1999 report on the Territory that, despite economic contraction in the first quarter, the economy rebounded to reach 6 per cent growth during 1999

5. Further welcomes the assessment by the Caribbean Development Bank in its 1999 report on the Territory that, despite economic contraction in the first quarter, the economy rebounded to reach 6 per cent growth during 1999

The maximum rate of economic contraction a veritable freefall came in the last quarter of 2008.

But, in a Great Contraction, problem number one is too much debt.

Then We draw it in towards Ourselves , a contraction by easy stages .

This contraction of the job market has had a greater impact on youth than on adults.

Forecasters assumed that monetary expansion would provide an effective antidote to fiscal contraction.

In August 1997, Indonesia was hit by a devastating economic and monetary crisis, which caused the poor more than half of whom are women to increase dramatically to 49.5 million in 1998, while the economy experienced a 14 percent contraction the following year.

After the collapse of Lehman Brothers in September 2008, the global financial system nearly melted down and the world economy went into free fall. Indeed, the rate of economic contraction in the fourth quarter of 2008 and the first quarter of 2009 reached near depression levels.

All of this, according to Reinhart and Rogoff, involves a protracted and pronounced contraction in economic activity.

Nevertheless, the legacy of the huge contraction in credit is not likely to go away anytime soon.

First, there is the counterfactual case How would Japan s economy have performed in the absence of fiscal stimulus? Given the magnitude of the contraction in credit supply following the financial crisis of the late 1990 s, it is no surprise that government spending failed to restore growth.

According to the IMF, the economy will remain in recession next year, and, though the rate of contraction will be less severe than in 2012 ( 0.7 in 2013, compared to 2.3 this year), the unemployment rate is expected to rise further, from 10.6 to 11.1 .

The most common is the theory of explosive thermal contraction of particles under rapid cooling from contact with water.

Growth in high end services employment is matched by contraction in high employment components of manufacturing supply chains.

Second, in 2001, weak capital spending in the corporate sector (accounting for 10 of GDP) underpinned the contraction.

The latest estimates for Italy and Spain project a deeper contraction, prolonged into next year.

And emerging markets will suffer once the US contraction and global slowdown undermines commodity prices.

Credit expansion must now be followed by a period of contraction, because some of the new credit instruments and practices are unsound and unsustainable. Moreover, the ability of the financial authorities to stimulate the economy is constrained by the unwillingness of the rest of the world to accumulate additional dollar reserves.

With a return to output growth, the recession defined as two consecutive quarters of economic contraction is officially over.

But what we have seen since 2007 is an overshooting of the contraction in consumer demand and domestic investment.

In 2004, for example, Chad s 39.4 annual growth rate contrasted sharply with Zimbabwe s 6.8 economic contraction.

A more accurate, if less reassuring, term for the ongoing crisis is the Second Great Contraction.

In contrast, QE3 will be associated with a fiscal contraction, possibly even a large fiscal cliff.

It misjudged the consequences of fiscal consolidation and credit constraints, underestimating the contraction of employment and overestimating exports and privatization receipts.

The contraction of property and stock markets will undoubtedly dampen US household borrowing and demand, potentially triggering a downward spiral.