Publication
Jan 2010
This crisis was caused by a combination of asset price bubbles, mainly in the real estate sector, and a credit bubble that led to excessive leverage. This is wellknown. What is less well-known is that on both accounts the euro area was affected by both ‘bubble’ symptoms as much as the US. This fact can be illustrated by looking at indicators of house prices and leverage.
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English (PDF, 11 pages, 246 KB) |
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Author | Daniel Gros, Cinzia Alcidi |
Series | CEPS Policy Briefs |
Issue | 201 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © 2010 Centre for European Policy Studies (CEPS) |