The reference dates of the United States' business cycles are determined by the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER), which looks at various coincident indicators such as real GDP, real personal income, employment, and sales to make informative judgments on when to set the historical dates of the peaks and troughs of past business cycles. The NBER was founded in 1920, and the first business cycle dates published in 1929.
The Economic Cycle Research Institute (ECRI), founded by Geoffrey H. Moore, who created the first index of leading economic indicators (LEI) in 1967, also determines historical international business cycle dates comparable to the NBER’s U.S. business cycle chronology.
Famous quotes containing the words reference, date, states and/or business:
“If we define a sign as an exact reference, it must include symbol because a symbol is an exact reference too. The difference seems to be that a sign is an exact reference to something definite and a symbol an exact reference to something indefinite.”
—William York Tindall (1903–1981)
“Modern tourist guides have helped raised tourist expectations. And they have provided the natives—from Kaiser Wilhelm down to the villagers of Chichacestenango—with a detailed and itemized list of what is expected of them and when. These are the up-to- date scripts for actors on the tourists’ stage.”
—Daniel J. Boorstin (b. 1914)
“In it he proves that all things are true and states how the truths of all contradictions may be reconciled physically, such as for example that white is black and black is white; that one can be and not be at the same time; that there can be hills without valleys; that nothingness is something and that everything, which is, is not. But take note that he proves all these unheard-of paradoxes without any fallacious or sophistical reasoning.”
—Savinien Cyrano De Bergerac (1619–1655)
“I must create a system or be enslaved by another man’s;
I will not reason and compare: my business is to create.”
—William Blake (1757–1827)