In fact, it seems the opposite is true. Too often we see confident pronouncements that things are now different. In fact, often those observers just needed to be a little more patient, before the normal patterns reasserted themselves. A typical example has occurred after most of the recessions in industrialised countries over the last several decades.
Compared with earlier recessions in the post-war period, those since the early 1990s have tended to involve more financial sector distress. The uncertainty this engenders – or perhaps simply the balance sheet distress – changes the nature of the recovery. In particular, it tends to make the subsequent pick-up in employment quite drawn out.