Stages of the ongoing global financial crisis : is there a wandering asset bubble? / Lucjan T. Orlowski. [Hrsg.: Institut für Wirtschaftsforschung Halle - IWH]
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Discovery
585993696
URN
urn:nbn:de:gbv:3:2-7362
DOI
ISBN
ISSN
Autorin / Autor
Beiträger
Körperschaft
Erschienen
Halle (Saale) : Inst. für Wirtschaftsforschung, 2008
Umfang
Online-Ressource (35 S., 0,31 MB)
Ausgabevermerk
Sprache
eng
Anmerkungen
Inhaltliche Zusammenfassung
This study argues that the severity of the current global financial crisis is strongly influenced by changeable allocations of the global savings. This process is named a wandering asset bubbleʺ. Since its original outbreak induced by the demise of the subprime mortgage market and the mortgagebacked securities in the U.S., this crisis has reverberated across other credit areas, structured financial products and global financial institutions. Four distinctive stages of the crisis are identified: the meltdown of the subprime mortgage market, spillovers into broader credit market, the liquidity crisis epitomized by the fallout of Bear Sterns with some contagion effects on other financial institutions, and the commodity price bubble. Monetary policy responses aimed at stabilizing financial markets are proposed. -- subprime mortgage crisis ; credit crisis ; market risk ; credit risk ; default risk ; Level 3 assets ; Basel II
Schriftenreihe
IWH-Diskussionspapiere ; 2008,11 ppn:37244492X