Which different types of economic crises exist? What are their characteristics?

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One economic crisis, depending on the severity of it, is a recession.  This is characterized by a contraction in the growth of an economy as characterized by such indicators as GDP or others.  In its most severe forms it can be called a depression though some argue that they are actually two different types of crisis.  A recession usually involves an increase in unemployment and at times shrinking wages, etc.

A depression is not specifically defined but matches many of the characteristics of a recession, but is generally more severe.  It is defined by some as the inability to purchase the amount of goods that are able to be produced leading to surpluses, reduced prices and continued shrinking demand.

Another economic crisis is rapid or hyper-inflation.  This is caused by the growth of the money supply outstripping the growth of the actual economy.

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