The Post-Crisis Slump

The global financial crisis of 2007-09 triggered a sharp fall in output growth that was followed by a persistent slump in Europe and other advanced economies. Almost a decade after the outbreak of the global financial crisis, the recovery remains very weak in many major advanced economies. This special issue of the European Economic Review consists of eleven papers that offer novel empirical and theoretical perspectives on the persistent post-crisis slump and on resulting challenges for global monetary and fiscal policies. All papers were presented at a conference at the European Commission in Brussels on 1-2 October 2015, organized by the European Economic Review, the European Commission, CAEPR, Indiana University and ECARES