Leverage? : What Leverage? A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis /

This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in...

תיאור מלא

מידע ביבליוגרפי
מחבר ראשי: Bayoumi, Tamim
מחברים אחרים: Bhatia, Ashok
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2012.
סדרה:IMF Working Papers; Working Paper ; No. 2012/162
גישה מקוונת:Full text available on IMF
תיאור
סיכום:This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment banks was the fatal link between the collapse of structured finance and the global malfunction of funding markets that turbocharged the downdraft; and, second, that this insight (and others) can be decrypted from the Flow of Funds Accounts of the United States.
תאור פריט:<strong>Off-Campus Access:</strong> No User ID or Password Required
<strong>On-Campus Access:</strong> No User ID or Password Required
תיאור פיזי:1 online resource (30 pages)
פורמט:Mode of access: Internet
ISSN:1018-5941
גישה:Electronic access restricted to authorized BRAC University faculty, staff and students