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Leverage? What leverage? : a deep dive into the U.S. flow of funds in search of clues to the global crisis /
This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autor Corporativo: | |
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| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
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| Colección: | IMF working paper ;
WP/12/162. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper questions the view that leverage should have forewarned us of the global financial crisis of 2007-09, pointing to several gearing indicators that were neither useful portents of the onset of the crisis nor of its ferocity. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment banks was the fatal link between the collapse of structured finance and the global malfunction of funding markets that turbocharged the downdraft; and, second, that this insight (and others) can be decrypted from the Flow of Funds Accounts of the United States. |
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| Notas: | Title from PDF title page (IMF Web site, viewed June 25, 2012). "Strategy, Policy, and Review Department." "June 2012." |
| Descripción Física: | 1 online resource (30 pages) : color illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 9781475545128 1475545126 1475504713 9781475504712 1475597606 9781475597608 1475516924 9781475516920 |