Natacha Postel-Vinay London School of Economics Debt Dilution in 1920s America: Lighting the Fuse of a Mortgage Crisis An explanation of the Great Depression based on mortgage debt via the banking
ثبت نشده
چکیده
منابع مشابه
Simultaneous Occurrence of Banking Debt and Currency Crises (Triple Crises) in Iranian Economy and Its Determining Factors During the Period 1980-2017
In monetary and financial literature, financial crises include a wide range of crises. But in general, there are three important types of financial crisis, including the currency crisis. The banking crisis and the debt crisis. The aim of this study is to simultaneously analyze the occurrence of banking, debt and currency crises, known as the three crises in Iran. For this purpose, first to dete...
متن کاملE¢ cient Credit Policies in a Housing Debt Crisis
During the nancial crisis and its aftermath, those segments of the economy most exposed to the accumulation of mortgage debt have tended to fare the worst. Whether it is by industry (construction), by geography (sand states), or by household (the most indebted), the presence of greater mortgage debt has led to weaker economic outcomes (see for example, Mian and Su , 2009, and Dynan, 2012). Mor...
متن کاملEffects of European Sovereign Debt (Leverage) Crisis on Bilateral Trade Flows
Outbreak of 2009 European sovereign debt (leverage) crisis has been one of the most crucial economic events of recent years. Accordingly, researchers devoted a great deal of efforts to elucidate origins and consequences of this crisis, particularly focusing on its potential effect on international trade flows. Yet in the literature, there have been rare studies on exploring the effects of sover...
متن کاملSurvival of the Interest Rate Based Debt Financing System
Evidence has been mounting (over the centuries) that the interest based debt financing regime is under ever increasing distress. All of the earlier crises whatever label they carried− exchange rate crisis or banking crisis – have been debt crises in essence. At the present, empirical research suggests that the debt-to-GDP ratio of the richest members of the G-20 threatens to touch 120% m...
متن کاملBankruptcy Reform’s Role in the Mortgage Crisis
BANKRUPTCY REFORM’S ROLE IN THE MORTGAGE CRISIS This paper argues that the U.S. bankruptcy reform of 2005 played an important role in the mortgage crisis and the current recession. When debtors file for bankruptcy, credit card debt and other types of debt are discharged — thus loosening debtors’ budget constraints. Homeowners in financial distress can therefore use bankruptcy to avoid losing th...
متن کامل