securitized mortgages. This paper uses the impact of one such sharp rule, the conforming loan limit, on securitization volumes. We … securitization activity in years following such a billion-dollar disaster. Such increase is larger in neighborhoods for which such a …

intermediated through arms-length transactions, such as securitization. This paper documents these trends, explores their causes … structural model to explore whether technological improvements in securitization, shifts in saver preferences away from deposits …, and changes in implicit subsidies and costs of bank activities can explain these shifts. Declines in securitization cost …

expectancy and a major expansion in securitization and shadow banking activities. We argue they are intimately related. Agents … heavily on intermediaries that use securitization, with riskier but higher returns. A quantitative evaluation of the model … more extensive use of securitization and shadow banking …