Financial markets and household consumption

<p><p>One of the key issues surrounding the recent turmoil in global financial markets is how far this will have effects on the real economy, in particular for consumption and investment in the U.K.. In this presentation, Professor Timothy Besley, an External Member of the Bank's Monetary Policy Committee and Research Fellow of the IFS, discusses some of the findings in and implications of his recent research looking at the link between the terms on which households can access credit and the behaviour of consumers. </p><p></p><p> </p><p></p><p></p></p>