Financial crisis: causes and consequences

Edmund Phelps

Journal "Region: Economics and Sociology", 2010, vol. 2

Abstract: In the author's opinion, the origin of the economic recession taking place in most countries resides in the house price crashes happened in the USA's and UK's housing markets. The financial crisis has been caused by many factors, which are analysed here. Some ways of how to manage the crisis are presented too.

Keywords: economic recession; financial crisis; housing market; employment; banks; credit; demand; capital (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:nos:regioe:2010-2_3

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