Causes of the Financial Crisis:An Assessment using UK Data


Martin, C. and Milas, C., 2009. Causes of the Financial Crisis:An Assessment using UK Data. Working Paper. Bath, U. K.: Department of Economics, University of Bath. (Bath Economics Research Working Papers; 18/09)

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    We present empirical evidence that the marked rise in liquidity in 2001-2007 was due to large and persistent current account deficits and loose monetary policy. If this increase in liquidity was a pre-condition for the financial crisis that began in July 2007, we can conclude that loose monetary and the deterioration in current account balances were causes of the financial crisis.


    Item Type Reports/Papers (Working Paper)
    CreatorsMartin, C.and Milas, C.
    Uncontrolled Keywordsliquidity,monetary policy,financial crisis,global imbalances
    DepartmentsFaculty of Humanities & Social Sciences > Economics
    Research CentresBath Economics Research
    ID Code15961


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