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Causes of the Financial Crisis: An Assessment using UK Data

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Author Info
Martin, Christopher
Milas, C

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Abstract

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.

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Paper provided by University of Bath, Department of Economics in its series Department of Economics Working Papers with number 15961.

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Date of creation: 2009
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Handle: RePEc:eid:wpaper:15961

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Keywords: financial crisis; liquidity; monetary policy; global imbalances;

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This page was last updated on 2009-11-19.

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