, focusing on the links between 'Repo-and-Securitization' and the crisis. In contrast, WPs in macroeconomics-related programs …

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 …

Securitization is a financial innovation that experiences a boom-bust cycle, as many other innovations before. This … paper analyzes possible reasons for the breakdown of primary and secondary securitization markets, and argues that …/08 ; Bank Regulation ; First Loss Position ; Rating Process ; Securitization ; Transparency …