Publication

This paper analyzes the perception of macroeconomic and financial risks and policy responses of the US and the EU after the financial and economic crisis. The authors argue that in the US, policies have focused primarily on systemic financial and macro-prudential risk; in the EU, the focus has been on risks stemming directly from the macro economy. While the US largely views itself as having exited the crisis, the EU is still mired in it, and this puts the transatlantic partners in different positions going forward. Nonetheless, the transatlantic partners have an interest in strengthening cooperation and coordination, they conclude.