Financial Law and Risk Control
Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis
Martin F. Hellwig
- Year
- 2009
- Venue
- De Economist
- Level
- Advanced
Summary
Traces how securitization, excessive maturity transformation, market breakdown, fair-value accounting, thin equity, and prudential rules interacted during the global financial crisis. The article argues that reform must address system architecture as well as individual incentives.
Citation
Martin F. Hellwig. "Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis." De Economist, 2009.
DOI: 10.1007/s10645-009-9110-0
BibTeX
@article{Hellwig2009Systemic,
title = {Systemic Risk in the Financial Sector: An Analysis of the Subprime-Mortgage Financial Crisis},
author = {Martin F. Hellwig},
year = {2009},
journal = {De Economist},
doi = {10.1007/s10645-009-9110-0},
url = {https://link.springer.com/article/10.1007/s10645-009-9110-0}
}