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The Crisis : Basic Mechanisms and Appropriate Policies
Blanchard, Olivier J. - 2009
The purpose of this lecture is to look beyond the complex events that characterize the global financial and economic crisis, identify the basic mechanisms, and infer the policies needed to resolve the current crisis, as well as the policies needed to reduce the probability of similar events in...
Persistent link: https://www.econbiz.de/10014403169
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Lessons and Policy Implications From the Global Financial Crisis
Claessens, Stijn - 2010
increasingly financially integrated world …
Persistent link: https://www.econbiz.de/10014402685
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Securitization : lessons learned and the road ahead
Segoviano, Miguel; Jones, Bradley; Lindner, Peter; … - 2013
This paper examines the financial stability implications arising from securitization markets, with one eye on the past … industry developments in the years before the crisis. Emphasis is placed on the various ways in which securitization markets … securitization markets are then discussed, including a treatment of various regulatory initiatives, the operational infrastructure of …
Persistent link: https://www.econbiz.de/10012667410
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What is Shadow Banking?
Claessens, Stijn - 2014
There is much confusion about what shadow banking is. Some equate it with securitization, others with non …
Persistent link: https://www.econbiz.de/10014394300
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Money for Nothing and Checks for Free : Recent Developments in U.S. Subprime Mortgage Markets
Mills, Paul S. - 2007
After a number of warning signs, the U.S. ""subprime mortgage crisis"" became a headline issue in February 2007. Notwithstanding the bankruptcy of numerous mortgage companies, historically high delinquencies and foreclosures, and a significant tightening in subprime lending standards, the impact...
Persistent link: https://www.econbiz.de/10014400434
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Spillovers of the U.S. Subprime Financial Turmoil to Mainland China and Hong Kong SAR : Evidence from Stock Markets
Zhang, Xiaojing - 2009
This paper focuses on evidence from stock markets as it investigates the spillovers from the United States to mainland China and Hong Kong SAR during the subprime crisis. Using both univariate and multivariate GARCH models, this paper finds that China''s stock market is not immune to the...
Persistent link: https://www.econbiz.de/10014402277
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The Effectiveness of Central Bank Interventions During the First Phase of the Subprime Crisis
Hesse, Heiko - 2009
This paper provides evidence that central bank interventions had a statistically significant impact on easing stress in unsecured interbank markets during the first phase of the subprime crisis which began in July 2007. Extraordinary liquidity provisions, such as the Term Auction Facility by the...
Persistent link: https://www.econbiz.de/10014402375
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Global Market Conditions and Systemic Risk
González-Hermosillo, Brenda - 2009
This paper examines several key global market conditions, such as a proxy for market uncertainty and measures of interbank funding stress, to assess financial volatility and the likelihood of crisis. Using Markov regime-switching techniques, it shows that the Lehman Brothers failure was a...
Persistent link: https://www.econbiz.de/10014402268
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From Subprime Loans to Subprime Growth? : Evidence for the Euro Area
Cihák, Martin - 2009
The global financial crisis has highlighted the potential of financial conditions for influencing real economic activity. We examine the linkages between the financial and real sectors in the euro area, finding that (i) bank loan supply responds negatively to declines in bank soundness; (ii) a...
Persistent link: https://www.econbiz.de/10014403183
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Financial Spillovers to Emerging Markets During the Global Financial Crisis
Frank, Nathaniel - 2009
In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and emerging market (EM) bond and stock markets are analyzedduring the latest crisis. A multivariate GARCH model is estimated in order to gauge the extent of co-movements of these...
Persistent link: https://www.econbiz.de/10014403188