How to best-face the financial crisis? new measure to estimate the response

Sarfaraz Ali Shah Syed ()
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Sarfaraz Ali Shah Syed: EQUIPPE Laboratory

Economics Bulletin, 2012, vol. 32, issue 4, A39

Abstract: This study deals primarily with the construction of a new measure of estimating the response of different economies towards the current economic crisis that starts in 2007 in the US financial sector and is leaving grave consequences on the European economies, particularly in the euro-zone. We show that countries which performed better during this crisis are surprisingly the ones having no flexible labor market. It appears that a good mix of economic policies, social institutions and luck played the key role to stabilize the level of consumption and the aggregate demand.

Keywords: Financial crisis; EU Crisis management; crisis response index (search for similar items in EconPapers)
JEL-codes: E2 E3 (search for similar items in EconPapers)
Date: 2012-11-19
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