Bursting of the Twin Bubbles

Lloyd B. Thomas

Chapter Chapter 5 in The Financial Crisis and Federal Reserve Policy, 2013, pp 59-78 from Palgrave Macmillan

Abstract: Abstract The previous chapter examined the interplay of forces that produced the twin bubbles in house prices and the volume of credit. This chapter looks at the events that transpired as these bubbles deflated rapidly in 2007 and 2008 as house prices fell and the process of deleveraging commenced. The following chapter examines the ways in which the popping of the twin bubbles spilled over to create the lengthiest and most severe U.S. economic contraction since the 1930s.

Keywords: Financial Crisis; House Price; Hedge Fund; Credit Default Swap; Liquidity Risk (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-40122-9_5

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DOI: 10.1057/9781137401229_5

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