Great Recession synchronized Europe more than decades of EU integration.
The article explores how economic shocks spread between regions in Europe. By analyzing data, the researchers found that the Great Recession caused more synchronization in Europe than years of European Union integration. They also discovered that Ile de France, Inner London, and Lombardia are key regions for transmitting these shocks. Additionally, they found that the types of industries in a region affect how synchronized it is with others, especially after the Great Recession.