IDEAS home Printed from https://ideas.repec.org/p/pcc/pccumd/09tsall.html
   My bibliography  Save this paper

A Two-Sided Auction for Legacy Loans

Author

Abstract

On Monday, 23 March 2009, Treasury Secretary Geithner presented the Public-Private Investment Program as a key instrument to resolve the financial crisis (www.financialstability.gov). The Treasury’s description still leaves many issues unanswered. We flesh out the auction design for legacy loans. A two-sided auction is required. Both banks and private investors must compete in a transparent and competitive process.

Suggested Citation

  • Lawrence M. Ausubel & Peter Cramton, 2009. "A Two-Sided Auction for Legacy Loans," Papers of Peter Cramton 09tsall, University of Maryland, Department of Economics - Peter Cramton, revised 2009.
  • Handle: RePEc:pcc:pccumd:09tsall
    as

    Download full text from publisher

    File URL: http://www.cramton.umd.edu/papers2005-2009/ausubel-cramton-legacy-loan-auction.pdf
    File Function: Full text
    Download Restriction: no

    More about this item

    Keywords

    Auctions; financial auctions; financial crisis;

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pcc:pccumd:09tsall. 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: (Peter Cramton). General contact details of provider: http://www.cramton.umd.edu .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.