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Euro area remains the little brother in transatlantic relations
The euro area economy and its financial sector remains disproportionately more vulnerable to shocks originating from the US than in reverse, as demonstrated in a brand-new international study with data spanning four decades. In an original empirical study, Eddie Gerba from Danmarks Nationalbank and Danilo Leiva-Leon from Banco de España have analysed and compared the interaction between the financial sector and the macroeconomy in the US and the euro area over the past four decades.