sich in den USA der Markt für Subprime-Kredite innerhalb weniger Jahre verfreifacht. Als schließlich die Zinsen angestiegen …

asset price rises due to sub-prime mortgage credit securitisations (the originate-and-distribute model) as well as …, in turn, was the consequence of increased international financial integration. One innovation of the paper is a detailed … risk premia and reduced access to credit. -- sub-prime ; turmoil ; turbulence ; mortgage credit …