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Verbriefungen sind tot - lang leben Verbriefungen?

Author

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  • Georg Erber

Abstract

Nachdem 2008 die Finanzmärkte weltweit einbrachen, wurde in Verbriefungen eine der Hauptursachen für den Flächenbrand gesehen. Der Verbriefungsmarkt trocknete aus, weil das Vertrauen in dieses Finanzinstrument verloren gegangen war. Damals attestierte man der Finanzinnovation Verbriefung keine Zukunft mehr. Knapp drei Jahre nach dem Finanz-GAU wird jedoch deutlich: Gerade in den USA hat sich der Verbriefungsmarkt trotz seiner nach wie vor bestehenden systemischen Risiken wieder erholt. Immer noch fehlen ein einheitlicher Regulierungsrahmen und verbindliche Transparenz. Aus der Finanzkrise 2008 wurde kaum etwas gelernt.

Suggested Citation

  • Georg Erber, 2011. "Verbriefungen sind tot - lang leben Verbriefungen?," DIW Wochenbericht, DIW Berlin, German Institute for Economic Research, vol. 78(35), pages 2-11.
    • Handle: RePEc:diw:diwwob:78-35-1
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    File URL: https://www.diw.de/documents/publikationen/73/diw_01.c.378119.de/11-35-1.pdf
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    Citations

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    Cited by:

    1. Erber, Georg & Hagemann, Harald, 2012. "Wachstums- und Investitionsdynamik in Deutschland," Violette Reihe: Schriftenreihe des Promotionsschwerpunkts "Globalisierung und Beschäftigung" 36/2012, University of Hohenheim, Carl von Ossietzky University Oldenburg, Evangelisches Studienwerk.
    2. Renate Neubäumer, 2015. "Euro Crisis: Is Austerity Policy of Secondary Importance to the Collapse in Greece's Economic Output?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(18), pages 25-34, September.

    More about this item

    Keywords

    securitization; financial market crisis; ratings;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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