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Market responses to the panic of 2008 / Casey Mulligan, Luke Threinen.

By:

Mulligan, Casey B

Contributor(s):

Material type: Text

TextSeries: Working paper series (National Bureau of Economic Research) ; no. 14446.Publication details: Cambridge, Mass. : National Bureau of Economic Research, 2008.Description: 23, [9] p. : ill. ; 22 cmSubject(s):

Financial crises -- United States -- 21st century -- Econometric models

LOC classification:

HB1 .N38 no. 14446

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Also available as an electronic book via the World Wide Web.

Summary: We model the panic of 2008 as part of the wealth and substitution effects deriving from a housing price crash that began in 2006. The dissipation of the wealth effect stimulates a reorganization of the banking industry and increases in employment, GDP, and unemployment. The release of resources from the housing sector lowers investment goods prices, and thereby devalues existing non-residential capital while stimulating non-residential investment. These predictions are compared with measured U.S. economic performance from 2006 to 2008 Q2.

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Holdings
Item type	Current library	Collection	Call number	Copy number	Status	Date due	Barcode
Book	University of Macedonia Library Βιβλιοστάσιο Β (Stack Room B)	Research Papers	HB1.N38 no. 14446 (Browse shelf(Opens below))	1	Available		0013119098

Includes bibliographical references (p. 22-23).

We model the panic of 2008 as part of the wealth and substitution effects deriving from a housing price crash that began in 2006. The dissipation of the wealth effect stimulates a reorganization of the banking industry and increases in employment, GDP, and unemployment. The release of resources from the housing sector lowers investment goods prices, and thereby devalues existing non-residential capital while stimulating non-residential investment. These predictions are compared with measured U.S. economic performance from 2006 to 2008 Q2.

Also available as an electronic book via the World Wide Web.

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