private information in the mortgage market: evidence and a theory of crises

Robert Shimer

Journal Economía Chilena (The Chilean Economy), 2013, vol. 16, issue 2, 68-95

Abstract: A growing body of evidence suggests that private information is important in the mortgage-backed securities market. Recent research reconsiders the theory of how investors trade in the presence of private information. This paper summarizes the evidence and uses the new theoretical approach to explain how trade in mortgage- backed securities can collapse during a crisis.

Date: 2013
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Related works:
Chapter: Private Information in the Mortgage Market: Evidence and a Theory of Crises (2014)
Working Paper: Private Information and the Mortgage Market: Evidence and a Theory of Crises (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:chb:bcchec:v:16:y:2013:i:2:p:68-95

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