Year: 2008
Type: report
Abstract: 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.
DOI: 10.3386/w14612
Author: Markus Brunnermeier
Institutions: National Bureau of Economic Research, Princeton University
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
Funder: Alfred P. Sloan Foundation
OpenAlex ID: W188819657