Business cycle dating committee definition
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.
The NBER was founded in 1920, and the first business cycle dates published in 1929.The Committee has identified te peak and trough quarters since 1970: Therefore the euro area expanded until 1974.Since then there have been five complete cyclical episodes (recession followed by expansion).the peak is not included in the recession shading, but the trough is). See Methodology Does CEPR use a different approach to NBER?