Economic Interactions US-Euro Area Over the 2007–9 Financial Crisis: What Did We Learn?

Filippo Mauro, Stephane Dees and Marco Lombardi
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Filippo Mauro: European Central Bank

Chapter 6 in Catching the Flu from the United States, 2010, pp 144-188 from Palgrave Macmillan

Abstract: Abstract Despite the long history of interdependence of global cycle developments, prior to the onset of the most recent global downturn in late 2008, there was a widely held view that the euro area — and more generally the global economy — could ‘decouple’ from the US. Somehow, the consensus was that, given its plethora of domestic problems, the US would remain the most affected country: in this ‘new world’, unlike the past, the US shocks would not necessarily become global, nor would the euro area economy necessarily be affected with a lag.

Keywords: Euro Area; Financial Variable; Stock Market Index; Euro Area Country; Stock Market Volatility (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28207-0_6

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DOI: 10.1057/9780230282070_6

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