The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Deciphering the Liquidity and Credit Crunch 2007–2008
Open accessAbstract
The financial market turmoil in 2007 and 2008 has led to the most severe financial crisis since the Great Depression and threatens to have large repercussions on the real economy. The bursting of the housing bubble forced banks to write down several hundred billion dollars in bad loans caused by mortgage delinquencies. At the same time, the stock market capitalization of the major banks declined by more than twice as much. While the overall mortgage losses are large on an absolute scale, they are still relatively modest compared to the $8 trillion of U.S. stock market wealth lost between October 2007, when the stock market reached an all-time high, and October 2008. This paper attempts to explain the economic mechanisms that caused losses in the mortgage market to amplify into such large dislocations and turmoil in the financial markets, and describes common economic threads that explain the plethora of market declines, liquidity dry-ups, defaults, and bailouts that occurred after the crisis broke in summer 2007.
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Shleifer, A., & Vishny, R. W. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03807.x · Cited by 5,291
Agency Costs, Net Worth, And Business Fluctuations
Bernanke, B., Gertler, M., Bernanke, B., & Gertler, M. (1988) · Unknown · doi:10.22004/ag.econ.292693 · Cited by 4,386
The financial accelerator, and the flight to quality
Bernanke, B., Gertler, M., & Gilchrist, S. (1996) · The Review of Economics and Statistics · doi:10.2307/2109844 · Cited by 2,351
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Battiston, S., Delli Gatti, D., Gallegati, M., Greenwald, B., & Stiglitz, J. E. (2012) · Journal of Economic Dynamics and Control · doi:10.1016/j.jedc.2012.04.001 · Cited by 734
Bank competition and financial stability in Asia Pacific
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Does fintech innovation improve bank efficiency? Evidence from China’s banking industry
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The impact of weather anomalies on migration in sub-Saharan Africa
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Metadata
- Authors
- Brunnermeier, M. K.
- Venue
- Journal of Economic Perspectives
- Publisher
- American Economic Association
- Published
- 2009-01-01
- Volume
- 23
- Issue
- 1
- Pages
- 77-100
- ISSN
- 0895-3309 (ISSN-L)
- OpenAlex
- W3126113144
- Cited by
- 3,322
- References
- 3
- FWCI
- 546.79
- Type
- journal article
- Language
- en
- Open access
- hybrid
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