Paraschos Maniatis

Athens University of Economics and Business

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.

crisis, USA, Europe, statistics, economics

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VOLUME 06 ISSUE 05 MAY 2023

There is an Open Access article, distributed under the term of the Creative Commons Attribution – Non Commercial 4.0 International (CC BY-NC 4.0) (https://creativecommons.org/licenses/by-nc/4.0/), which permits remixing, adapting and building upon the work for non-commercial use, provided the original work is properly cited.