In 2008 the UK economy suffered its deepest recession since the 1930s. The recession had several defining characteristics: it took place simultaneously with a global recession; the exchange rate depreciated sharply; and the fiscal deficit increased markedly. Perhaps more importantly the financial sector was arguably both the source and propagator of the crisis and epitomised the potential link between the business and credit cycles.
- Broadberry, S., & van Leeuwen, B. (2010). British Economic Growth and the Business Cycle, 1700–1870: Annual Estimates (CAGE Online Working Paper Series 20).Google Scholar
- Dimsdale, N. (1990). Money, Interest and Cycles in Britain Since 1830. Greek Economic Review, 12(Supplement), 153–196.Google Scholar
- Dow, J. (1998). Major Recessions, Britain and the World, 1920–1995. Oxford: Oxford University Press.Google Scholar
- Morys, M. (2014). Cycles and Depressions. In R. Floud, J. Humphries, & P. Johnson (Eds.), The Cambridge Economic History of Modern Britain: Volume II. 1870 to the Present. Cambridge: Cambridge University Press.Google Scholar
- Solomou, S. (1994). Economic Fluctuations. In R. Floud & D. McCloskey (Eds.), The Economic History of Britain since 1700 Volume 2: 1860–1939 (pp. 1870–1913). Cambridge: Cambridge University Press.Google Scholar
- Thomas, R., & Dimsdale, N. (2017). A Millennium of UK Macroeconomic Data. Bank of England OBRA Dataset.Google Scholar