Brunnermeier, Markus K. <br/><br/>
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. .
<br/><br/> December 2008. 
<br/><br/> 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. 
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