IDEAS home Printed from https://ideas.repec.org/a/onb/oenbmp/y2007i3b1.html
   My bibliography  Save this article

Robust Economic Activity in the Euro Area

Author

Listed:
  • Andreas Breitenfellner

    (Oesterreichische Nationalbank)

  • Johannes Elsinger

    (Oesterreichische Nationalbank)

  • Klaus Vondra

    (Oesterreichische Nationalbank, Economic Analysis Division)

Abstract

Global economic activity continued to look robust at mid-2007. In the U.S.A., however, it is currently uncertain how large the impact of the August 2007 crisis in the real estate sector on the real economy will be. Strong growth in the second quarter of 2007 was primarily characterized by dynamic net exports but also by a very modest rise in private consumption. The U.S. Federal Reserve System first reacted to short-term liquidity constraints by unexpectedly cutting its discount rate. After having identified risks to growth, it later reduced the federal funds rate and again cut the discount rate. Economic recovery is slowing in Japan............

Suggested Citation

  • Andreas Breitenfellner & Johannes Elsinger & Klaus Vondra, 2007. "Robust Economic Activity in the Euro Area," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 10-26.
    • Handle: RePEc:onb:oenbmp:y:2007:i:3:b:1
    as

    Download full text from publisher

    File URL: https://www.oenb.at/dam/jcr:ce42a379-2831-489a-b7b5-926ecfb3f468/mop_2007_3_konjunktur_tcm16-69005.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    global outlook; euro area; central and (south-)eastern Europe; Austria.;
    All these keywords.

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:onb:oenbmp:y:2007:i:3:b:1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Rita Glaser-Schwarz (email available below). General contact details of provider: https://edirc.repec.org/data/oenbbat.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.