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...

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Detalles Bibliográficos
Autor principal: Bayoumi, Tamim
Otros Autores: Bhatia, Ashok
Formato: Revista
Lenguaje:English
Publicado: Washington, D.C. : International Monetary Fund, 2012.
Colección:IMF Working Papers; Working Paper ; No. 2012/162
Acceso en línea:Full text available on IMF
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245 1 0 |a Leverage? :   |b What Leverage? A Deep Dive into the U.S. Flow of Funds in Search of Clues to the Global Crisis /  |c Tamim Bayoumi, Ashok Bhatia. 
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490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
700 1 |a Bhatia, Ashok. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2012/162 
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