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

In: Catching the Flu from the United States

Author

Listed:
  • Filippo Mauro

    (European Central Bank)

  • Stephane Dees

    (European Central Bank)

  • Marco J. Lombardi

    (European Central Bank)

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.

Suggested Citation

  • Filippo Mauro & Stephane Dees & Marco J. Lombardi, 2010. "Economic Interactions US-Euro Area Over the 2007–9 Financial Crisis: What Did We Learn?," Palgrave Macmillan Books, in: Catching the Flu from the United States, chapter 6, pages 144-188, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28207-0_6
    DOI: 10.1057/9780230282070_6
    as

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