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The Role of Monetary Policies in Exiting of 2008 Financial Crisis in United States of America and United Kingdom

Journal Name:

  • International Journal of Science and Engineering Investigations

Publication Year:

  • 2013

Key Words:

Author NameUniversity of Author
Abstract (2. Language): 
During a short time the gross domestic product of countries decreased because of 2008 financial crisis which began in the housing market of America and their unemployment rate increased. In order to exit from the crisis, various countries, including United States of America and United Kingdom adopted various policies that expansionary monetary policies means increasing of monetary base and reducing of interest rates, is one of them. The purpose of this research is studying on effectiveness of imposed monetary policies on gross domestic product of America and England during the 2008 financial crisis. So is used of gross domestic product data, monetary base, effective exchange rate, interest rate and dummy variable in vector error correction model. Results indicate significant and negative impact of the 2008 financial crisis on gross domestic product, also inefficient of imposed monetary policies in these countries.
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  • 18
83-90
  • English

REFERENCES

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