Depression

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Depression

Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.

Depression

A particularly long and/or deep recession. While there is no technical definition of a depression, conventionally it is defined as a period featuring severe declines in productivity and investment and particularly high unemployment. During the Great Depression, for example, GDP in the United States dropped 12% between 1929 and 1930 and a further 16% the following year. Likewise, unemployment rose to more than 25% nationwide and higher in some places.

Depression.

A depression is a severe and prolonged downturn in the economy. Prices fall, reducing purchasing power. There tends to be high unemployment, lower productivity, shrinking wages, and general economic pessimism.

Since the Great Depression following the stock market crash of 1929, the governments and central banks of industrialized countries have carefully monitored their economies. They adjust their economic policies to try to prevent another financial crisis of this magnitude.

depression

see BUSINESS CYCLE.

depression

a phase of the BUSINESS CYCLE characterized by a severe decline (slump) in the level of economic activity (ACTUAL GROSS NATIONAL PRODUCT). Real output and INVESTMENT are at very low levels and there is a high rate of UNEMPLOYMENT. A depression is caused mainly by a fall in AGGREGATE DEMAND and can be reversed provided that the authorities evoke expansionary FISCAL POLICY and MONETARY POLICY. See DEFLATIONARY GAP, DEMAND MANAGEMENT.
References in periodicals archive ?
The stable tendency to see the bright side of life is associated with lower risk of major depression because some genetic factors influence both conditions", says researcher Ragnhild Bang Nes from the Division of Mental Health.
Major depression afflicts up to 35 million Americans at some point in their lives.
The most recent manual requires that at least five of nine key symptoms--depressed mood, decreased interest in activities, significant weight loss or gain, disturbed sleep patterns, physical agitation or lethargy, fatigue, feelings of worthlessness or excessive guilt, decreased ability to concentrate or make decisions, and recurrent thoughts of death or suicide--be present for at least two weeks for major depression to be diagnosed.
About 25% of these seniors have major depression, and another 20 to 25% have minor depression.
Writing in this week's British Medical Journal, he said, "Improving outcomes for patients with major depression is not as simple as prescribing a new treatment.
Major depression is manifested by a combination of symptoms (see symptom list) that interfere with the ability to work, study, sleep, eat, and enjoy once pleasurable activities.
Participants were interviewed about their mental health status and factors associated with a diagnosis of posttraumatic stress disorder (PTSD) or major depression.
The rate among the cognitively intact residents in nursing, homes is even higher: 20 to 25 percent suffer major depression, more than 10 times the rate of nonresident adults over 65.
The study will involve 336 participants diagnosed with major depression.
Investigators using objective criteria over the course of treatment indicate that patients may experience sadness or depressed mood, but not meet the DSM-IIIR definition of major depression (Judd, Brown, & Burrows, 1991).
ATLANTA -- NeurOp Corporation today announced a collaboration with Bristol-Myers Squibb Company (NYSE: BMY) focused upon the development of NeurOp's proprietary small molecules for use in the treatment of major depression and other central nervous system disorders.
Contract notice: Study 2013-20 (gcp) place of psychotherapy in the long-term treatment of major depression

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