Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
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https://www.nber.org/papers/w18270
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Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS) during the financial crisis. Many observers have argued that the fall in prices was partly driven by decreased liquidity and fire sales. We investigate whether capital
金融危机期间，非机构住房抵押贷款支持证券（non-agency residential mortgage-backed securities, RMBS）价值大幅缩水的问题已受到学界与业界的广泛关注。诸多市场观察人士指出，该类证券的价格下跌部分源于流动性收紧与被迫贱卖（fire sales）。我们旨在探究资本
提供机构：
美国国家经济研究局
创建时间：
2012-08-01
