Series: IMF Working Papers
Author(s): Xin Long , Mangal Goswami , and Andreas Jobst
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2009
Keywords: Securitization, structured finance, financial innovation, macro-financial linkages, monetary transmission, credit channel, interest rate channel, bank balance sheet, mortgage, capital market
Policy-makers have attributed the scale of the credit crisis and its profound impact on money markets (as well as financial sector stability) to the fast rise of securitization and the way it has arguably complicat...