From the Portland Business Journal:
University of Oregon economics professor Tim Duy is a frequent commenter on economic policy. As the coronavirus outbreak fuels more ecomic damage and stock market gyrations, he spoke with the Business Journal by phone about whether or not we’re in a recession and what government stimulus could be on the way.
Questions and answers have been edited for brevity and clarity.
What is a recession? The popular press conception of a recession is two quarters of negative gross domestic product growth. A more general definition is a broad-based downturn in economic activity that is of substantial breadth in depth and duration. The idea is that there’s a significant disruption to economic activity that impacts a wide swath of the economy for a sustained period of time….