Financial Market Liquidity and the Financial Crisis: An Assessment Using UK Data

被引：2

作者：

Martin, Christopher ^{[1
]}

Milas, Costas ^{[2
]}

机构：

[1] Univ Bath, Dept Econ, Bath BA2 7AY, Avon, England

[2] Keele Univ, Keele, Staffs, England

来源：

INTERNATIONAL FINANCE | 2010年 / 13卷 / 03期

关键词：

UNIT-ROOT; INTEREST-RATES; STOCK RETURNS; MODEL; ADJUSTMENT; TESTS; US;

D O I：

10.1111/j.1468-2362.2010.01269.x

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

A steady increase in financial market liquidity followed by a rapid reduction played a central role in the financial crisis that began in 2007. We present empirical evidence that the marked rise in liquidity in 2001-07 was due to large and persistent current account deficits and loose monetary policy.

引用

页码：443 / 459

页数：17

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