The reaction of the U.S. and the European Monetary Union to recent global financial crises

Tadeusz Kowalski and Yochanan Shachmurove

Global Finance Journal, 2014, vol. 25, issue 1, 27-47

Abstract: This paper analyzes the responses of the United States and the economies of the Economic and Monetary Union (EMU) to the financial and economic crisis of 2008–2009. The crisis illuminates the fundamental structural problems within the EMU, the European Union and the United States and the scale and scope of interconnections among the world economy. The paper focuses on the reactions of the real sector to the financial disturbances in these economies. Both comparative static and dynamic methodologies are used in order to appraise the scope and pace of adjustments in response to the global crisis.

Keywords: Financial crisis; International competitiveness; Monetary and fiscal policies; Regulations; European Monetary Union; United States (search for similar items in EconPapers)
JEL-codes: E0 F0 F5 G0 H0 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:glofin:v:25:y:2014:i:1:p:27-47

DOI: 10.1016/j.gfj.2014.03.002

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