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The Financial and Economic Crisis of 2007–2009

In: The Evolution of Macroeconomic Theory and Policy

Author

Listed:
  • Kamran Dadkhah

    (Northeastern University)

Abstract

The financial and economic crisis of 2007 started without warning and before long it had spread to many countries around the globe. Many have tried to blame one or another factor for the crisis. The fact of the matter is that such a crisis could not possibly have had a single cause. A combination of elements conspired to create it. It was first felt in the housing market. From there it spread to the credit market and ultimately affected the real part of the economy. In order to understand it we need to start from the beginning and we need to understand a few concepts in finance.

Suggested Citation

  • Kamran Dadkhah, 2009. "The Financial and Economic Crisis of 2007–2009," Springer Books, in: The Evolution of Macroeconomic Theory and Policy, chapter 0, pages 241-260, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-77008-4_13
    DOI: 10.1007/978-3-540-77008-4_13
    as

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