Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/277218 
Year of Publication: 
2011
Citation: 
[Journal:] Intervention. European Journal of Economics and Economic Policies [ISSN:] 2195-3376 [Volume:] 08 [Issue:] 2 [Year:] 2011 [Pages:] 245-266
Publisher: 
Metropolis-Verlag, Marburg
Abstract: 
First paragraph: The recession of 2009 following the financial market crisis of 2008 was severe, especially in Europe. World GDP decreased by 0.6 per cent, the GDP of the USA by 2.6 per cent, and in the European Monetary Union (EMU) it declined by 4.1 per cent (IMK/OFCE/WIFO 2011). The export-oriented German economy had to face a relatively strong negative growth of 4.7 per cent of GDP. By mid-2010, however, it seemed that the disastrous effects of the financial market crisis were successfully countered by stabilisation measures in countries all around the world: rescue programmes for banks were established in most of the European countries; some countries like Ireland and Spain tried to compensate for the effects of busted housing bubbles; and fiscal stimuli were initiated to dampen the downturn of the economy, e.g. by the introduction of a scrapping premium for cars in Germany, France and other countries.
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.