Author's profile

Geoffrey Wood
Cass Business School

Background

Professor Emeritus of Economics, Faculty of Finance.Geoffrey Wood went to the University of Warwick in 1968 as Lecturer in Economics and then spent two years as Visiting Economist with the Bank of England, where he was more recently, from 1994 to 2004, a Special Advisor on Financial Stability. In 1975, he joined City University. He was Visiting Scholar at the Federal Reserve Bank of St Louis from 1977-1978, has also advised the New Zealand Treasury on a wide range of issues, and has also been a visiting scholar at the Federal Reserve Bank of New York and served as research adviser at the Bank of Finland.

Author articles

  • Long term interest rates since 1870
    Accounting, Finance
    Banking

    Professor Wood uses in his talk new data and modern time series econometrics to examine the relationship between interest rates, prices and inflation in Britain from 1870 to 2006 for which reliable data are available.

    06/03/2012 | 4,386
  • Verdict on the crash: causes and policy implications
    Finance
    Banking

    This monograph challenges the myth that the recent banking crisis was caused by insufficient statutory regulation of financial markets.

    27/10/2011 | 3,286
  • The bank lending channel reconsidered
    Finance
    Banking

    We examine macroeconomic data for the G8 countries and find no evidence that banking sector deposits respond negatively to tightening of monetary policy, as the accepted view of the bank lending channel requires.

    22/09/2011 | 3,286
  • Shattered on the Rock? British financial stability from 1866 to 2007
    Corporate Governance
    Banking

    In autumn of 2007 Britain experienced its first bank run of any significance since the reign of Queen Victoria. The run was on a bank called Northern Rock. This was extraordinary, for Britain had been free of such episodes because by early in the third quarter of the 19th century the Bank of England had developed techniques to prevent them. A second extraordinary aspect of the affair was that it was the decision to provide support for the troubled institution that triggered the run. And thirdly, unlike most runs in banking history, it was a run only on that one institution. This paper considers why the traditional techniques for the maintenance of banking stability failed - if they did fail - and then considers how these techniques may need to be changed or supplemented to prevent such problems in the future. The paper starts with a narrative of the events, then turns to banking policy before the event and to the policy responses after it. We suggest both why the decision to provide support triggered the run and why the run was confined to a single institution. That prepares the way for our consideration of what should be done to help prevent the recurrence of such episodes in the future.

    22/09/2011 | 3,117
  • Lender of last resort
    Finance
    Banking

    Geoffrey Wood, Professor of Economics at Cass Business School, has written very widely on the subject of lender of last resort and its role in the ubiquitous global financial crisis. This is a video Q and A with Geoffrey Wood conducted by Alistair Milne. Both are Cass Experts. Included is the transcript and a summary of the key points.

    26/09/2011 | 14,908