The 2007 crisis and countercyclical policy

Purpose The purpose of the paper is to outline the global financial and economic crisis that began in 2007, together with the macroeconomic policy changes that were put in place as a result. Design/methodology/approach The content is partly descriptive and partly analytical. Findings The paper sets out the history of the financial and economic crisis to date. Originality/value This is determined by the subject matter, and consists mainly in the manner in which the material is presented.