What’s wrong with Europe?

by Paolo Manasse and Isabella Rota Baldini

The US and Europe; a tale of two cities: while the economic recovery is well underway in the United States, with growth back to 2.5 percent and falling unemployment, the Eurozone economy is struggling to recover. Why? We argue in this paper that the major differences between the two areas go a long way in providing an explanation. (go to the paper)