An economic crisis is a sustained period when economic output falls and unemployment rises
. It is often associated with a financial crisis, which is a situation where the value of assets drops rapidly and is often triggered by a panic or a run on banks
. Financial crises can result in a loss of paper wealth but do not necessarily result in a recession
. A recession is a significant decline in economic activity lasting more than a few months, normally visible in production, employment, real income, and other indicators
. It can be caused by a financial crisis, among other factors, and can lead to a sharp increase in unemployment, along with substantial declines in output, consumption, and investment
