A Comparative Analysis of the 2008 Economic Crisis between the United States and Europe: Causes, Consequences, and Policy Responses
Journal Title: International Journal of Multidisciplinary Research and Analysis - Year 2023, Vol 6, Issue 05
Abstract
The 2008 global financial crisis had a profound impact on the economies of the United States and Europe. This paper provides a comparative analysis of the causes, consequences, and policy responses to the crisis in both regions. Using quantitative methods and statistical analysis, the paper examines macroeconomic data, financial data, labor market data, to identify the factors that led to the crisis, assess the impact of the crisis on the two regions, and evaluate the effectiveness of the policy responses. The findings suggest that the crisis was caused by a combination of factors, including the housing bubble, financial deregulation, and loose monetary policies. The crisis resulted in severe economic and social consequences, including job losses, declining economic growth, and increased income inequality. Governments and international organizations adopted various policy responses, including fiscal stimulus, monetary policy changes, and financial sector reforms, but the effectiveness of these policies varied across regions.
Authors and Affiliations
Paraschos Maniatis
Keywords
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- EP ID EP716379
- DOI 10.47191/ijmra/v6-i5-26
- Views 47
- Downloads 0
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