Summaries

  • Securitization expanded credit but led to a decline in credit quality; this amplified the strain of declining housing prices and rising...

Published Versions

Markus K. Brunnermeier, 2009. "Deciphering the Liquidity and Credit Crunch 2007-2008," Journal of Economic Perspectives, American Economic Association, vol. 23(1), pages 77-100, Winter.

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