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Conclusion

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

The 2007–9 financial crisis has had severe impacts, bringing the global economy to its deepest and most widespread recession since World War 2. The euro area economy has not been spared: it has been in recession since the second quarter of 2008, losing in one year around 5% of its output. One important characteristic of that recession has been its broad-based nature — not only across countries, but also across demand components affecting consumption, investment and world trade to a massive extent.

Suggested Citation

  • Filippo Mauro & Stephane Dees & Marco J. Lombardi, 2010. "Conclusion," Palgrave Macmillan Books, in: Catching the Flu from the United States, chapter 8, pages 216-218, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28207-0_8
    DOI: 10.1057/9780230282070_8
    as

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