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 ?
This is the first evidence that links an animal model of frustration with another of endogenous depression. The main results of this study indicated that CLI rats showed a cSNC effect only during the first downshift trial, while VEH animals showed this effect on two post-shift trials, which indicates a faster recovery of CLI animals.
The present study is planned to perform thyroid function test and thyroid peroxidase antibodies in patients with endogenous depression. By monitoring the levels of TSH, T3, T4 and anti-TPO antibodies of, impending thyroid related disorders can be predicted.
Similarly, an initial bout of endogenous depression may somehow lessen substantially the amount of stress needed to produce a recurrence, Weissman suggests.
[8] These characteristics include: (a) clinical presentations associated with poor efficacy of monotherapy antidepressant treatment, such as atypical depressive symptoms, endogenous depression, chronic depression (duration of disease greater than 2 years), or 'double depression' (concurrent depressive episode and dysthymia symptoms); (b) comorbid chronic physical conditions or mental conditions such as drug dependence, anxiety disorder, and borderline personality disorder; and (c) a poor social support system resulting in insufficient management and monitoring of treatment adherence.
A double-blind comparison of sinusoidal wave and brief-pulse electroconvulsive therapy in endogenous depression. Convulsive Therapy 1988 4:297-305.
Negative attributional style, hopelessness depression and endogenous depression. Behaviour Research and Therapy, 39, 139-149.
The only studies that found them no more efficacious than SSRIs failed to separate relevant subgroups--such as inpatients or those with severe melancholic or endogenous depression.

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