Ethan Ilzetzki on the International Implications of Fed Policy, Business Cycle Theory, and the UK Crisis
Macro Musings with David Beckworth
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Is There a Crisis in the UK Government?
There was no sovereign debt crisis per se is what you're arguing at least in terms of what the market was saying. Yes, I don't think there was any evidence of concern about debt being inflated away or outright default. There was still plenty of fiscal space left. The government still could step in. So how would you define this problem? What was it then that led to this? Was it a liquidity problem, a plumbing problem in the financial system of the UK? How do you think about that?
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