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Stages of the ongoing global financial crisis: Is there a wandering asset-price bubble?
Orlowski, Lucjan T. - 2008
mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Northern Rock, Bear … elevated market, credit and liquidity risks. Since its original outbreak induced by the demise of the subprime mortgage market … and the mortgage-backed securities in the U.S., the crisis has reverberated across other credit areas, structured …
Persistent link: https://www.econbiz.de/10011430817
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Stages of the 2007/2008 Global Financial Crisis Is There a Wandering Asset-Price Bubble?
Orlowski, Lucjan T. - 2008
mortgage market; spillovers into broader credit market; the liquidity crisis epitomized by the fallout of Northern Rock, Bear …
Persistent link: https://www.econbiz.de/10010298579
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Stages of the Ongoing Global Financial Crisis: Is There a Wandering Asset Bubble?
Orlowski, Lucjan T. - 2008
demise of the subprime mortgage market and the mortgagebacked securities in the U.S., this crisis has reverberated across … are identified: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis …
Persistent link: https://www.econbiz.de/10010269915
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Market failures and regulatory failures: Lessons from past and present financial crises
Acharya, Viral V.; Cooley, Thomas; Richardson, Matthew; … - 2011
The paper analyzes the financial crisis of through the lens of market failures and regulatory failures. We present a case that there were four primary failures contributing to the crisis: excessive risk-taking in the financial sector due to mispriced government guarantees; regulatory focus on...
Persistent link: https://www.econbiz.de/10010286114
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Liquidity hoarding
Gale, Douglas; Yorulmazer, Tanja - 2011
Banks hold liquid and illiquid assets. An illiquid bank that receives a liquidity shock sells assets to liquid banks in exchange for cash. We characterize the constrained efficient allocation as the solution to a planner's problem and show that the market equilibrium is constrained inefficient,...
Persistent link: https://www.econbiz.de/10010287074
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LIBOR: Origins, economics, crisis, scandal, and reform
Hou, David; Skeie, David - 2014
trillions more in variable-rate mortgage and student loans. LIBOR's volatile behavior during the financial crisis provoked …
Persistent link: https://www.econbiz.de/10011340948
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What determines bank stock price synchronicity? Global evidence
Francis, Bill; Hasan, Iftekhar; Song, Liang; Yeung, Bernard - 2012
This paper examines what institutional and bank-specific factors determine bank stock price synchronicity. Using data on 37 countries from 1996-2007, we find that bank stocks are more aligned with the whole market (1) during the financial crisis; (2) in countries that have more credit provided...
Persistent link: https://www.econbiz.de/10012148150
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Contagion and Spillovers: New Insights from the Crisis
Backé, Peter; Feldkircher, Martin; Gnan, Ernest; … - 2010
On February 12, 2010, SUERF, the Oesterreichische Nationalbank and the Bankwissenschaftliche Gesellschaft continued their established tradition of jointly organised conferences. As evidenced also by the 115 conference participants, this year's subject of "Contagion and Spillovers – New...
Persistent link: https://www.econbiz.de/10011689946
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The great liquidity freeze: What does it mean for international banking?
Domanski, Dietrich; Turner, Philip - 2011
In mid-September 2008, following the bankruptcy of Lehman Brothers, international interbank markets froze and interbank lending beyond very short maturities virtually evaporated. Despite massive central bank support operations and purchases of key assets, many financial markets remained impaired...
Persistent link: https://www.econbiz.de/10010279794
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Systematic risk of CDOs and CDO arbitrage
Hamerle, Alfred; Liebig, Thilo; Schropp, Hans-Jochen - 2009
"Arbitrage CDOs" have recorded an explosive growth during the years before the outbreak of the financial crisis. In the present paper we discuss potential sources of such arbitrage opportunities, in particular arbitrage gains due to mispricing. For this purpose we examine the risk profiles of...
Persistent link: https://www.econbiz.de/10010299482