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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 |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Colección: | IMF working paper ;
WP/12/162. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 082 | 0 | 4 | |a 332.152 |2 23 |
| 049 | |a UAMI | ||
| 100 | 1 | |a Bhatia, A. |q (Ashok Vir) | |
| 245 | 1 | 0 | |a Leverage? What leverage? : |b a deep dive into the U.S. flow of funds in search of clues to the global crisis / |c prepared by Ashok Vir Bhatia and Tamim Bayoumi. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (30 pages) : |b color illustrations | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 340 | |g polychrome. |2 rdacc |0 http://rdaregistry.info/termList/RDAColourContent/1003 | ||
| 347 | |a data file | ||
| 490 | 1 | |a IMF working paper ; |v WP/12/162 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed June 25, 2012). | ||
| 520 | |a 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. | ||
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Strategy, Policy, and Review Department." | ||
| 500 | |a "June 2012." | ||
| 505 | 0 | |a Cover; Contents; Glossary; Executive Summary; I. Introduction: Our Search for the Smoking Gun; Figures; 1. Leverage? What Leverage?; II. The Flow of Funds Accounts: From the Macro to the Financial; A. Nonfinancial Private Sector Net Worth: A Rational Gambit; 2. Was it Debtor Leverage?; B. Household Finances: Let the Good Times Roll; 3. Was it Households as Net Debtors?; C. Nonfinancial Business Finances: The Cash Cow; 4. Was it a Borrowing Spree by Firms?; D. Government Finances: Use that Firepower; 5. Was it Foreigners Buying U.S. Treasuries? | |
| 505 | 8 | |a E. Foreign Investors in the U.S. Credit Markets: Pay to Play6. Was it Foreigners Buying Everything?; F. Gross and Net Credit Growth: Strong for Long; 7. Was it Credit Growth?; G. Financial Sector Size and ""Churning"" Activity: Inward We Look; 8. Was it Financial Sector Size?; H. Financial Sector Structure and ""Shadow Banking"": Brave New World; 9. Was it ""Shadow Banking""?; I. Private-Label Securitization: Bankruptcy-Remote Indeed; 10. Was it the Bundling?; J. The Secured Wholesale Funding Chain: In Collateral We Trust; 11. Was it the Funding Model? | |
| 505 | 8 | |a III. Conclusion: Investment Banks as the Fulcrum12. In Summary; References. | |
| 546 | |a English. | ||
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Global Financial Crisis, 2008-2009. | |
| 650 | 0 | |a Financial crises |z United States. | |
| 650 | 0 | |a Financial leverage |z United States. | |
| 650 | 0 | |a Securities |z United States. | |
| 650 | 0 | |a Investment banking |z United States. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009. | |
| 650 | 6 | |a Effet de levier |z États-Unis. | |
| 650 | 6 | |a Banques d'affaires |z États-Unis. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Finance. |2 bisacsh | |
| 650 | 7 | |a Financial crises. |2 fast |0 (OCoLC)fst00924607 | |
| 650 | 7 | |a Financial leverage. |2 fast |0 (OCoLC)fst00924716 | |
| 650 | 7 | |a Investment banking. |2 fast |0 (OCoLC)fst00978200 | |
| 650 | 7 | |a Securities. |2 fast |0 (OCoLC)fst01110743 | |
| 651 | 7 | |a United States. |2 fast |0 (OCoLC)fst01204155 | |
| 647 | 7 | |a Global Financial Crisis |d (2008-2009) |2 fast |0 (OCoLC)fst01755654 | |
| 648 | 7 | |a 2008-2009 |2 fast | |
| 700 | 1 | |a Bayoumi, Tamim A. | |
| 710 | 2 | |a International Monetary Fund. |b Strategy, Policy, and Review Department. | |
| 776 | |z 1-4755-4512-6 | ||
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| 830 | 0 | |a IMF working paper ; |v WP/12/162. | |
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