Jones, Randall S.; Tsutsumi, Masahiko - Economics Department, Organisation de Coopération et … - 2009
The crisis that originated in mid-2007 in the United States and deepened in September 2008 is the largest peace-time disruption of financial markets since the Great Depression. It was triggered by a number of factors, namely the large amount of lending to subprime borrowers, the expansion of...