Series: IMF Working Papers
Author(s): Giovanni Dell'Ariccia , Luc Laeven , and Deniz Igan
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2008
Keywords: credit boom, lending standards, subprime loans, financial accelerators, applications, mortgage, mortgage market, mortgage lenders,
This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced la...