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In economics, a trough is a low turning point or a local minimum of a business cycle. The time evolution of many economics variables exhibits a wave-like behavior with local maxima (peaks) followed by local minima (troughs). A business cycle may be defined as the period between two consecutive peaks. [1] [2]
The tableau économique is credited as the "first precise formulation" of interdependent systems in economics and the origin of the theory of the multiplier in economics. [5] An analogous table is used in the theory of money creation under fractional-reserve banking by relending of deposits, leading to the money multiplier .
A table of innovations and long cycles can be seen at: Kondratiev wave § Modern modifications of Kondratiev theory. Since surprising news in the economy, which has a random aspect, impact the state of the business cycle, any corresponding descriptions must have a random part at its root that motivates the use of statistical frameworks in this ...
A recession begins when the economy reaches a peak of economic activity and ends when the economy reaches its trough. Economic Recessions in the U.S. Recessions are a normal part of the business ...
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
In addition to the absolute pass-through that uses incremental values (i.e., $2 cost shock causing $1 increase in price yields a 50% pass-through rate), some researchers use pass-through elasticity, where the ratio is calculated based on percentage change of price and cost (for example, with elasticity of 0.5, a 2% increase in cost yields a 1% increase in price).
From January 2008 to December 2012, if you bought shares in companies when William Y. Tauscher joined the board, and sold them when he left, you would have a -47.1 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
The GDP bottom, or trough, was reached in the second quarter of 2009 (marking the technical end of the recession that is defined by "a period of falling economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales"). [3]