Chapter 1: The Macroeconomic Outlook
Michael Devereux (),
Authors registered in the RePEc Author Service: Gilles Saint-Paul (),
Xavier Vives (),
Hans-Werner Sinn (),
John Hassler (),
Jan-Egbert Sturm () and
Giancarlo Corsetti ()
EEAG Report on the European Economy, 2011, 17-69
The structural problems brought to light by the financial crisis have largely remained in place or shifted from the private (banking) sector to the public sector. In the United States, despite increased saving, household debt remains high; their wealth position has deteriorated substantially due to the bursting of the house price bubble. The real estate sector has shrunk, and the financial sector has still not fully recovered.
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