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Inside and Outside Liquidity$
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Bengt Holmstrom and Jean Tirole

Print publication date: 2011

Print ISBN-13: 9780262015783

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015783.001.0001

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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 24 September 2021

Epilogue: Summary and Concluding Thoughts on the Subprime Crisis

Epilogue: Summary and Concluding Thoughts on the Subprime Crisis

Chapter:
(p.226) (p.227) Epilogue: Summary and Concluding Thoughts on the Subprime Crisis
Source:
Inside and Outside Liquidity
Author(s):

Holmström Bengt

Tirole Jean

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015783.003.0010

This chapter presents some reflections on what the implications liquidity management have in the face of a subprime crisis. It then summarizes the main insights and themes of the book. It moves on to explore the factors that make up a general understanding of a subprime crisis: the global imbalances and the savings glut; the growth of U.S. shadow banking; the collapse of the wholesale funding market, which supports shadow banking; and regulatory deficiencies.

Keywords:   liquidity, subprime crisis, savings glut, shadow banking, regulatory deficiencies

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