Publication - Global impact of US and euro area unconventional monetary policies - a comparison by Qianying Chen, Marco Jacopo Lombardi, Alex Ross and Feng Zhu
The Global Financial Crisis, which started in August 2007 and intensified following the bankruptcy of Lehman Brothers in September 2008, swept and deeply affected the financial markets in both advanced and emerging economies. The Crisis had two major components: the US subprime mortgage crisis; and the European sovereign debt crisis which exploded with the Greek debt crisis in May 2010.