|
gptkbp:instanceOf
|
economic crisis
|
|
gptkbp:alsoKnownAs
|
gptkb:early_1980s_recession
|
|
gptkbp:causedBy
|
tight monetary policy
high interest rates
Federal Reserve anti-inflation measures
|
|
gptkbp:effect
|
gptkb:farm_crisis_in_US_Midwest
business bankruptcies
high unemployment
|
|
gptkbp:endDate
|
1982
|
|
gptkbp:followedBy
|
early 1990s recession
|
|
gptkbp:GDP
|
2.7% (1982, US)
|
|
gptkbp:historicalSignificance
|
ended postwar inflation
reshaped monetary policy
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
recession in early 1980s
|
|
gptkbp:inflationRateAfter
|
3.2% (1983, US)
|
|
gptkbp:inflationRateBefore
|
13.5% (1980, US)
|
|
gptkbp:location
|
gptkb:Canada
gptkb:United_Kingdom
gptkb:United_States
|
|
gptkbp:notableEvent
|
gptkb:Volcker_Shock
|
|
gptkbp:notablePerson
|
gptkb:Paul_Volcker
|
|
gptkbp:notablePlace
|
Canada unemployment over 12% in 1983
UK unemployment over 3 million
US unemployment over 10% for 10 months
|
|
gptkbp:policy
|
interest rate cuts (post-1982)
public spending cuts (UK)
tax cuts (US)
|
|
gptkbp:precededBy
|
gptkb:1973–1975_recession
|
|
gptkbp:relatedTo
|
gptkb:Federal_Reserve
gptkb:Margaret_Thatcher
gptkb:Ronald_Reagan
gptkb:oil
stagflation
Canadian economic policy
|
|
gptkbp:sectorMostAffected
|
manufacturing
construction
|
|
gptkbp:startDate
|
1980
|
|
gptkbp:unemploymentRate
|
10.8%
|
|
gptkbp:unemploymentRatePeakDate
|
November 1982
|
|
gptkbp:bfsParent
|
gptkb:stagflation_of_the_1970s
|
|
gptkbp:bfsLayer
|
6
|