Dungey, Mardi; Dwyer, Dwyer, Gerald P.; Flavin, Thomas - School of Economics and Finance, Tasmanian School of … - 2011
The misevaluation of risk in securitized ?nancial products is central to understand- ing the Financial Crisis of 2007-2008. This paper characterizes the evolution of factors a¤ecting collateralized debt obligations (CDOs) based on subprime mortgages. A key feature of subprime-mortgage backed...