Balance sheet adjustments in the 2008 crisis
By: Zhiguo He, In Gu Khang, Arvind Krishnamurthy
Contributors: Khang, In Gu; Krishnamurthy, Arvind; National Bureau of Economic Research
Series: NBER working paper series -- working paper 15919; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15919.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We measure how securitized assets, including mortgage-backed securities and other asset-backed securities, have shifted across financial institutions over this crisis and how the availability of financing has accommodated such shifts.  Sectors dependent on repo financing - in particular, the hedge fund and broker-dealer sector - have reduced asset holdings, while the commercial banking sector, which has had access to more stable funding sources, has increased asset holdings.  The banking sector also increased its leverage dramatically over this crisis.  These findings are important to understand the role played by the government during the crisis as well as to understand the factors determining asset prices and liquidity during the crisis"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 5/6/2010.

Includes bibliographical references.

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