Transparency through Financial Claims with Fingerprints - A Free Market Mechanism for Preventing Mortgage Securitization Induced Financial Crises
نویسندگان
چکیده
منابع مشابه
Securitization Networks and Endogenous Financial Norms in U.S. Mortgage Markets∗†
We develop a theoretical model of a network of intermediaries, which we apply to the U.S. mortgage market. In our model, heterogeneous financial norms and systemic vulnerabilities arise endogenously. Intuitively, the optimal behavior of each intermediary, in terms of its attitude toward risk, the quality of the projects that it undertakes, and the intermediaries it chooses to interact with, is ...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1360627