Armstrong, Angus; Davis, E. Philip - In: National Institute Economic Review 230 (2014) 1, pp. 3-3
The house price and lending boom of the 2000s is widely considered to be the main cause of the financial crisis that began in 2007. However, looking to the past, we find a similar boom in the late 1980s which did not lead directly to a global systemic banking crisis – there were...