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The Panic of 2007

Gorton, Gary B. - 2008

How did problems with subprime mortgages result in a systemic crisis, a panic? The ongoing Panic of 2007 is due to a loss of information about the location and size of risks of loss due to default on a number of interlinked securities, special purpose vehicles, and derivatives, all related to...

Persistent link: https://www.econbiz.de/10012464289

The Political Economy of the U.S. Mortgage Default Crisis

Mian, Atif - 2008

We examine the determinants of congressional voting behavior on two of the most significant pieces of federal legislation in U.S. economic history: the American Housing Rescue and Foreclosure Prevention Act of 2008 and the Emergency Economic Stabilization Act of 2008. We find evidence that...

Persistent link: https://www.econbiz.de/10012464179

A New Look at the U.S. Foreclosure Crisis : Panel Data Evidence of Prime and Subprime Borrowers from 1997 to 2012

Ferreira, Fernando - 2015

Utilizing new panel micro data on the ownership sequences of all types of borrowers from 1997-2012 leads to a reinterpretation of the U.S. foreclosure crisis as more of a prime, rather than a subprime, borrower issue. Moreover, traditional mortgage default factors associated with the economic...

Persistent link: https://www.econbiz.de/10012457406

The Subprime Panic

Gorton, Gary B. - 2008

Understanding the ongoing credit crisis or panic requires understanding the designs of a number of interlinked securities, special purpose vehicles, and derivatives, all related to subprime mortgages. I describe the relevant securities, derivatives, and vehicles to show: (1) how the chain of...

Persistent link: https://www.econbiz.de/10012464249

Forbearance by Contract : How Building and Loans Mitigated the Mortgage Crisis of the 1930s

Fleitas, Sebastián - 2015

During the Great Depression, Building and Loans (B&Ls), the leading home lenders, had a structure that mitigated the crisis. Borrowers were owners of the B&L and dissolution of the institution required a two-thirds majority vote. Using panel data from New Jersey in the 1930s, we find that this...

Persistent link: https://www.econbiz.de/10012456885

The industrial organization and regulation of the securities industry

Lo, Andrew W. (ed.) - 1996

Persistent link: https://www.econbiz.de/10000937532

Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States

Hoffmann, Florian - 2014

States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates … did not change substantially in Germany, increased and remained at relatively high levels in the United States, and … increased moderately in Canada. More recent data also show that, unlike Germany and Canada, the U.S. unemployment rate remains …

Persistent link: https://www.econbiz.de/10012457972

Loans for the "Little Fellow : " Credit, Crisis, and Recovery in the Great Depression

Quincy, Sarah - National Bureau of Economic Research - 2023

This paper identifies how bank branching benefited local economies during the Great Depression. Using archival data and narrative evidence, I show how Bank of America's branch network in 1930s California created an internal capital market to diversify away local liquidity shortfalls, allowing it...

Persistent link: https://www.econbiz.de/10014421204

The great contraction, 1929 - 1933

Friedman, Milton; Schwartz, Anna Jacobson - 2008 - [New ed.]

Persistent link: https://www.econbiz.de/10003681770

The Anatomy of a Residential Mortgage Crisis : A Look Back to the 1930s

Snowden, Kenneth A. - 2010

Looking back to the 1930s provides the opportunity to examine one severe mortgage crisis as we live through another. This paper examines the development of the residential mortgage market during the 1920s, the institutional disruptions that occurred in the 1930s and the policy response of...

Persistent link: https://www.econbiz.de/10012462411

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