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Asset-backed securities- The key to unlocking Europe's credit markets?

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  • Carlo Altomonte
  • Patrizia Bussoli

Abstract

The European market for asset-backed securities (ABS) has all but closed for business since the start of the economic and financial crisis. ABS (see Box 1) were in fact the first financial assets hit at the onset of the crisis in 2008. The subprime mortgage meltdown caused a deterioration in the quality of collateral in the ABS market in the United States, which in turn dried up overall liquidity because...

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  • Carlo Altomonte & Patrizia Bussoli, 2014. "Asset-backed securities- The key to unlocking Europe's credit markets?," Policy Contributions 842, Bruegel.
    • Handle: RePEc:bre:polcon:842
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    Cited by:

    1. Kraemer-Eis, Helmut & Passaris, George & Tappi, Alessandro & Inglisa, Giovanni, 2015. "SME Securitisation – at a crossroads?," EIF Working Paper Series 2015/31, European Investment Fund (EIF).
    2. Gregory F Udell, 2015. "SME Access to Intermediated Credit: What Do We Know and What Don't We Know?," RBA Annual Conference Volume (Discontinued), in: Angus Moore & John Simon (ed.),Small Business Conditions and Finance, Reserve Bank of Australia.
    3. Sam Langfield & Marco Pagano, 2016. "Bank bias in Europe: effects on systemic risk and growth," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 31(85), pages 51-106.
    4. Nuno Silva, 2015. "The euro area financial network and the need for better integration," Economic Bulletin and Financial Stability Report Articles and Banco de Portugal Economic Studies, Banco de Portugal, Economics and Research Department.
    5. Kraemer-Eis, Helmut & Lang, Frank & Torfs, Wouter & Gvetadze, Salome, 2015. "European Small Business Finance Outlook: December 2015," EIF Working Paper Series 2015/32, European Investment Fund (EIF).
    6. Caudoux, A. & Geoffroy, J., 2015. "Financing solutions to sustain the growth of SMEs and MTEs and lay the foundations for future competitiveness," Financial Stability Review, Banque de France, issue 19, pages 37-49, April.
    7. Bernd Rudolph, 2014. "Warum ABS schlechte Produkte sein können, aber nicht müssen," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(22), pages 09-14, November.
    8. Orçun Kaya & Oliver Masetti, 2019. "Small‐ And Medium‐Sized Enterprise Financing And Securitization: Firm‐Level Evidence From The Euro Area," Economic Inquiry, Western Economic Association International, vol. 57(1), pages 391-409, January.
    9. Kraemer-Eis, Helmut & Lang, Frank & Gvetadze, Salome, 2014. "European Small Business Finance Outlook: December 2014," EIF Working Paper Series 2014/26, European Investment Fund (EIF).

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