Series: IMF Working Papers
Author(s): Manmohan Singh , and Peter Stella
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 April 2012
Keywords: collateral, securitization, central bank, monetary policy, monetary base, inflation, Financial Institutions and Services: Government Policy and Regulation, International Monetary Arrangements and Institutions, Corporation and Securities Law, General Financial Markets: Government Policy and Regulation,
Between 1980 and before the recent crisis, the ratio of financial market debt to liquid assets rose exponentially in the U.S. (and in other financial markets), reflecting in part the greater use of securitized asse...