Depression

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Depression

Period when excess aggregate supply overwhelms aggregate demand, resulting in falling prices, unemployment problems, and economic contraction.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

depression

see BUSINESS CYCLE.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
First part was consisted of personal data, Second part included 21 questions of Beck Depression Inventory Scale.
Results: Main result showed that the prevalence of depression among ER Physicians was 47%.
Depression has been found to run in families (Rice, Harold, Thapar, November, 2002).
The cycle of pain that led to inactivity from which flowed anergy and mood depression is a paradigm that has to be understood to give treatment regimens a sound therapeutic rationale.
Psychiatrists have taken the position that the apparent increase in the incidence of depression is just a mirage--that this much depression has always been present in the population; it is simply better diagnosis and the decreased stigma associated with our treatments that are responsible for the escalating numbers of reported depressed people.
According to market analyst Larry Kudlow, "[R]isk aversion is clearly sweeping through the markets, and bank requests for fresh money from the Federal Reserve are rising." In fact, reported Kudlow, on July 24th the economy "dodged a bullet" when "a threatened run on the banks -- on top of the plummeting stock market -- was halted." The prospect of a simultaneous market crash and bank run conjures up the specter that some market watchers have started to discuss, albeit in furtive whispers: another great depression.
"These findings could mean that there are endogenous depressions that, once started, just keep perking along without significant environmental stress," holds Myrna M.
Patients with mood disorders, also called affective disorders, suffer from depression. In contrast to "the blues" that we all go through, a depressive episode is a true illness, often referred to as clinical depression.
Kripke of the University of California, San Diego, bright light benefited 25 male veterans hospitalized for severe, nonseasonal depression. The men stayed in a room illuminated with 1,600 watts of bright white light between 8 p.m.
Some depressions may respond best to electro-convulsive therapy.
(just outside Washington, D.C.), 18 people reported symptoms of recurring winter depression and three fulfilled criteria for summer depression.
Bipolar disorder--which is also known as manic-depressive illness and will be called by both names throughout this publication--is a mental illness involving episodes of serious mania and depression. The person's mood usually swings from overly "high" and irritable to sad and hopeless, and then back again, with periods of normal mood in between.

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