Depression

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Related to Winter depression: Winter Blues, Seasonal depression

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 ?
Winter depression recurrence one year after cognitive-behavioral therapy, light therapy, or combination treatment.
The Influence of Climate on Development of Winter Depression.
See the light: A silicone-filled cushion that illuminates is helping some people combat seasonal affective disorder, also called winter depression.
Seasonal Affective Disorder or SAD is a type of winter depression which affects about half a million people in the UK every winter.
A STUDY has found that houses can be just as badly affected by winter depression as people.
And the Science Museum in London has just opened a Light Lounge to coincide with a debate on SAD and treatments of winter depression.
concludes that in trials, daily exposure to bright light is about as effective as antidepressant drugs in quelling seasonal affective disorder (SAD), or winter depression, and other forms of depression.
While some of these solutions are still in the research stage, I think the word has been out to people who get depressed in the winter that this is something that can be treated," stresses Paul Desan, director of the Winter Depression Research Clinic at Yale-New Haven (Conn.
Up to 20% of people in Northern states experience winter depression.
For around one million people a winter depression known as SAD (Seasonal Affective Disorder) can become a disabling illness which in the most extreme cases can lead to thoughts of suicide.
AN ESTIMATED one in 20 people are now believed to suffer from Seasonal Affective Disorder - SAD syndrome - a winter depression triggered by reduced daylight.
High cholesterol, multiple sclerosis, cystic fibrosis, premature ageing, senility, food cravings, chronic fatigue syndrome (ME), and seasonal affective disorder (SAD), also known as winter depression, all respond to taking more EFAs.