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and 1980s and, overall, the CMBS and CMBX markets performed as normal during the financial crisis (at least by the …"This paper analyzes the performance of the commercial mortgage-backed security (CMBS) market before and during the … recent financial crisis. Using a comprehensive sample of CMBS deals from 1996 to 2008, we show that (unlike the residential …
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"This paper proposes a methodology for measuring credit booms and uses it to identify credit booms in emerging and industrial economies over the past four decades. In addition, we use event study methods to identify the key empirical regularities of credit booms in macroeconomic aggregates and...
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