Origin and Causes of the Housing Crisis
The housing crisis is a debt-deflation Minsky's type crisis. The new economy bubble was replaced by the housing bubble. However, it is a deflationary crisis with specificities. It seems to point to the limits of a securities-backed financial regime, which forces a review of the regulation of financial markets and a return to more conservative credit practices. That crisis is global both in terms of its causes and its repercussions. It is far from over. Although the injection of liquidity by central banks has restored a relative stability in financial markets and a greater drop in stock markets, both remain unstable. The repercussions of the crisis will also be global, since decoupling does not exist. The United States continues to be the world economy's buyer of last resort. While some countries, like the BRIC countries will continue to grow, although more slowly, others will sooner or later experience recessions.This paper was presented May 22, 2008, at the 18th International Conference of the International Trade and Finance Association, meeting at Universidad Nova de Lisboa, Lisbon, Portugal.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||16 Aug 2008|
|Contact details of provider:|| |
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:bep:itfapp:1135. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.