Did the financial sector profit at the
expense of the rest of the economy?
Evidence from the United States
The crisis which originated in the US financial sector in 2007 and subsequently spread to
the real economy caused severe economic and social damage around the world.
Governments have responded by providing fiscal support to the economy, undertaking
exceptional monetary policy measures and introducing programmes targeted to
vulnerable groups. In addition, considerable efforts have been made to recapitalise banks.