Origins of the Subprime Crisis

Charles W. Calomiris
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Charles W. Calomiris: Columbia Business School and National Bureau of Economic Research, USA

Chapter 7 in The International Financial Crisis:Have the Rules of Finance Changed?, 2011, pp 73-91 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionGovernment Policy and the Origins of the Subprime CrisisMonetary policy and global imbalancesSubsidization of mortgage riskPrudential regulatory failureSubprime ratings inflation and the regulatory reliance on ratingsToo big to failCorporate governance problems in large banksThe size of the shock vs. the size of the crisisConclusionReferences

Keywords: Financial Crisis; Financial Regulation; International Banking; Financial Regulatory Reform (search for similar items in EconPapers)
Date: 2011
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