Financial Law and Risk Control
Deciphering the Liquidity and Credit Crunch 2007-2008
Markus K. Brunnermeier
- Year
- 2009
- Venue
- Journal of Economic Perspectives
- Level
- Advanced
Summary
Explains the mechanisms of the 2007-2008 liquidity and credit crisis, including funding liquidity, market liquidity, leverage, securitization, and amplification channels. The article is useful for connecting crisis dynamics to prudential supervision and systemic-risk regulation.
Citation
Markus K. Brunnermeier. "Deciphering the Liquidity and Credit Crunch 2007-2008." Journal of Economic Perspectives, 2009.
DOI: 10.1257/jep.23.1.77
BibTeX
@article{Brunnermeier2009Deciphering,
title = {Deciphering the Liquidity and Credit Crunch 2007-2008},
author = {Markus K. Brunnermeier},
year = {2009},
journal = {Journal of Economic Perspectives},
doi = {10.1257/jep.23.1.77},
url = {https://www.aeaweb.org/articles?id=10.1257/jep.23.1.77}
}