Report
Is the OECD economy more or less robust today than in 2008?
OECD countries’ economy was hit by a major shock in 2008 with the subprime crisis; it is being hit a major shock now with the coronavirus crisis. Is it more or less robust today than in 2008? Corporate profitability is higher today than in 2008, and companies’ debt ratio is lower: this is a step in the right direction; The household debt ratio is lower today than in 2008, which is a step in the right direction; Public debt is higher today, but interest rates are very low, which prevents the risk of a loss of fiscal solvency; The only factor that has now deteriorated compared with the situation in 2008 is the monetary policy response capacity, which is much weaker.
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Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Patrick Artus
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