Understanding the Subprime Crisis

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

Chapter 1 in The Subprime Crisis:Lessons for Business Students, 2017, pp 3-12 from World Scientific Publishing Co. Pte. Ltd.

Abstract: It is often said that, “hindsight is 20/20”, a saying which rings especially true when considering an event such as the Subprime Crisis. How could it be that economists, Wall Street executives, financial analysts, and even Ben Bernanke, the chairman of the Federal Reserve at the time, didn’t see an event of this magnitude coming? In this chapter, we investigate economic indicators leading up to the subprime crisis, and we try to uncover if warning signs existed that would point to the imminent fall of the housing market. Answering these questions is crucial in shaping our understanding of how markets work, which in turn will enable us to identify warning signs to prevent events like this from happening again…

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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