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The US Economy and the Great Recession. Jean Monnet/Robert Schuman Paper Series Vol. 11, No. 5, October 2011

Lorca-Susino, María (2011) The US Economy and the Great Recession. Jean Monnet/Robert Schuman Paper Series Vol. 11, No. 5, October 2011. [Policy Paper]

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    Abstract

    Excerpt from the Introduction: This paper discusses the currently troubled economic situation of the US, which has become a vicious cycle, led by low consumer spending and business investment due to high unemployment, and a stagnant real estate market. Despite signs of solid recovery in 2010, financial woes continue to plague the US as of the summer of 2011. The economy is facing a dramatic setback led by a controversial sovereign credit rating downgrade. The US is suffering more than expected due to the rise of the debt ceiling without a clear cut agreement on the budget; however, the US Treasuries have become a safe haven and the US dollar seems to be maintaining its reign as a hegemonic reserve currency, despite the current downgrade.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > External relations > EU-US
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on and consequences/reforms
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > University of Miami, Florida-EU Center of Excellence > Jean Monnet/Robert Schuman Paper Series
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 22 Feb 2012 13:36
    Number of Pages: 11
    Last Modified: 22 Feb 2012 13:36
    URI: http://aei.pitt.edu/id/eprint/33482

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