The duration of recessions follows an exponential not a power law
arXiv:cond-mat/0311585 · doi:10.1016/j.physa.2004.07.035
Abstract
Ormerod and Mounfield analysed GDP data of 17 leading capitalist economies from 1870 to 1994 and concluded that the frequency of the duration of recessions is consistent with a power-law. But in fact the data is consistent with an exponential (Boltzmann-Gibbs) law.
3 pages, 2 figures. Submitted to Physica A