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Reference | Title | Link |
Brunnermeier, M.K. (2009) | Deciphering the Liquidity and Credit Crunch 2007-09 | here |
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." |
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