TY  - JOUR
AU  - Brunnermeier,Markus K.
TI  - Deciphering the Liquidity and Credit Crunch 2007-08
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 14612
PY  - 2008
Y2  - December 2008
UR  - http://www.nber.org/papers/w14612
L1  - http://www.nber.org/papers/w14612.pdf
N1  - Author contact info:
Markus K. Brunnermeier
Princeton University
Department of Economics
Bendheim Center for Finance
Princeton, NJ 08540
Tel: 609/258-4050
Fax: 609/258-0771
E-Mail: markus@princeton.edu
M2  - featured in NBER digest on 2009-03-01
AB  - This paper summarizes and explains the main events of the liquidity and credit crunch in 2007-08. Starting with the trends leading up to the crisis, I explain how these events unfolded and how four different amplification mechanisms magnified losses in the mortgage market into large dislocations and turmoil in financial markets.
ER  -