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On top of that, recessions in the gold-standard era tended to be longer and more severe than subsequent ones.
Moreover, we find that recessions have a long-lasting effect on individuals' beliefs.The two views aren't mutually exclusive.
We know that recessions are bad.
A study finds that recessions lead to increased entrepreneurship.
I don't believe that recessions are Darwinian systems".
They found that recessions were duration dependent whilst expansions were not.
Previous research has indeed shown that recessions reduce mortality at that time.
The reason is that recessions are usually brought on by tight monetary policy.
Investors sometimes say that recessions help to reveal flaws in business models.
Analysts add that recessions tend to condition people to print less.
One plausible explanation is that recessions affect the way people take decisions.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com