Deciphering the Shape of Economic Recovery

Deciphering the Shape of Economic Recovery

By PBS NewsHour
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What do economists mean when they talk about the shape of a recession or recovery in terms of letters of the alphabet? Paul Solman talks with Simon Johnson of the Massachusetts Institute of Technology to understand how we graph a recession and its corresponding recovery. Then, leading economists weigh in on the shape they think the recovery will take. Will it look like a V, W, or U?