Insights from the Great Recession
Alex Barree, Vineeta Kapahi, Rafay Kazmi, Benjamin Levy, Jeehye Min, and Emilia Piziak
Nearly a decade after the Great Recession, New Jersey (NJ) continues to feel the effects of a slow recovery. The Great Recession created significant pressures on state economies, and each state employed a unique approach to addressing these challenges, resulting in considerable variation in recovery trajectories. As economists predict another financial crisis in the near future, it is important that NJ reflect on its history and learn from other states’ experiences so that it may more effectively weather future recessionary periods. Accordingly, New Jersey Policy Perspective asked graduate students at the Edward J. Bloustein School of Planning to study the matter. Six graduate students in the public policy program prepared this report that examined the actions of NJ and five other states through the pre-recession, Great Recession, and post-recessionary periods.