Ilie, Anca Gabriela; Colibasanu, Oana Antonia; Dumitriu, Dan - In: Romanian Economic Journal 12 (2009) 32, pp. 47-68
The quality of mortgage loans had been deteriorating since 2001, when interest rates were consistently below 3 per cent for several years. Housing prices dropped substantially since their high in 2006. This article examines the current credit crisis against the background of recent financial...