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dc.description.abstractThe 2007 financial crisis started in the USA but its impact spread throughout the world and led to a fully fledged global recession which we have only just begun to recover from a year ago. Studies have tried to explain why it happened and why its impact on the financial economy and the real economy was so deep. Causes of the crisis stem from various factors: lowering of interest rates, subprime mortgage crisis, house price bust, deregulation, financial innovation. However, the factor that has made recovery so slow, particularly in the USA, is the amount of debt held by U.S. households and the composition of household debt in the U.S. credit market. Government and monetary authorities usually adopt a fiscal policy in the short term and a monetary policy for long term recovery goals. However, these do not work as effectively when there is a situation of household over-indebtedness. This study aims to illustrate the trends of U.S. household debt and credit demand and supply trends. It also shows the effects of over-indebtedness on the financial market and the economy.en_GB
dc.subjectFinancial crisesen_GB
dc.titleThe 2007 financial crisis and U.S. household debt and credit trendsen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.publisher.institutionUniversity of Maltaen_GB
dc.publisher.departmentFaculty of Economics, Management and Accountancy. Department of Banking & Financeen_GB
dc.contributor.creatorChetcuti, Tamara-
Appears in Collections:Dissertations - FacEma - 2011
Dissertations - FacEMABF - 2011

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