Deciphering the Liquidity and Credit Crunch 2007-08 /
Brunnermeier, Markus K.
Deciphering the Liquidity and Credit Crunch 2007-08 / Markus K. Brunnermeier. - Cambridge, Mass. National Bureau of Economic Research 2008. - 1 online resource: illustrations (black and white); - NBER working paper series no. w14612 . - Working Paper Series (National Bureau of Economic Research) no. w14612. .
December 2008.
This paper summarizes and explains the main events of the liquidity and credit crunch in 2007-08. Starting with the trends leading up to the crisis, I explain how these events unfolded and how four different amplification mechanisms magnified losses in the mortgage market into large dislocations and turmoil in financial markets.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Deciphering the Liquidity and Credit Crunch 2007-08 / Markus K. Brunnermeier. - Cambridge, Mass. National Bureau of Economic Research 2008. - 1 online resource: illustrations (black and white); - NBER working paper series no. w14612 . - Working Paper Series (National Bureau of Economic Research) no. w14612. .
December 2008.
This paper summarizes and explains the main events of the liquidity and credit crunch in 2007-08. Starting with the trends leading up to the crisis, I explain how these events unfolded and how four different amplification mechanisms magnified losses in the mortgage market into large dislocations and turmoil in financial markets.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.