What is responsible for the recession and stagnation of recent years?
The functioning of financial markets was a key reason for the recession and long-term economic stagnation in the United States and the Eurozone after the 2008-2009 crisis – the authors of the article “Drivers of the post-crisis slump in the Eurozone and the US ” claim. Among the authors of the article published on April 27th in VOXEU.org is our University lecturer, Rafał Raciborski.
Responsible for late, long-term stagnation in the Euro area are many sources including low productivity growth and low levels of capital investment associated with the continuing poor financial status of the European financial sector, authors claim.
The VOXEU.org website, created by CEPR in 2007, is a platform for exchanges of views and presentations by leading economists in the world.
The entire article you can read HERE