What Caused the Subprime Crisis?

Jaime Luque
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Jaime Luque: 1University of Wisconsin-Madison, USA

Chapter 2 in The Subprime Crisis:Lessons for Business Students, 2017, pp 13-19 from World Scientific Publishing Co. Pte. Ltd.

Abstract: After recently recovering from one of the most substantial economic downturns in history, Americans are still searching for answers as to why this downturn occurred, and how it get so bad so quickly. There was one area of the economy that everyone seemed to tune into in particular — the mortgage market. Demyanyk and Van Hermert (2011) argue that the rise and fall of the subprime mortgage market faced a boom and bust scenario in which unsustainable growth led to a collapse of the market as a whole…

Keywords: Subprime Crisis; Great Recession; 2009 Recession; Mortgage; Financial Market; Preventing Recession; 2009 Crisis; Interest Rates (search for similar items in EconPapers)
JEL-codes: G01 G1 (search for similar items in EconPapers)
Date: 2017
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