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Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis

Author

Listed:
  • Enrique G. Mendoza

    (UMD & NBER)

  • Emine Boz

    (IMF)

Abstract

to securitize debt can actually decline, they respond with sharp downward adjustments in credit and consumption.

Suggested Citation

  • Enrique G. Mendoza & Emine Boz, 2009. "Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis," 2009 Meeting Papers 1273, Society for Economic Dynamics.
    • Handle: RePEc:red:sed009:1273
    as

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    References listed on IDEAS

    as
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    More about this item

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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