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crises. Drawing on newly accessed quantitative and qualitative archival sources the paper documents how a bank-Banco de … "constructive ambiguity" that characterized central bank lending of last resort in Spain. As a result, the bank developed a uniquely …-31 made fragilities emerge causing the bank to fail. …
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How did problems with subprime mortgages result in a systemic crisis, a panic? The ongoing Panic of 2007 is due to a loss of information about the location and size of risks of loss due to default on a number of interlinked securities, special purpose vehicles, and derivatives, all related to...
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How did problems with subprime mortgages result in a systemic crisis, a panic? The ongoing Panic of 2007 is due to a loss of information about the location and size of risks of loss due to default on a number of interlinked securities, special purpose vehicles, and derivatives, all related to...
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