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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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Epilogue: Summary and Concluding Thoughts on the Subprime Crisis

Epilogue: Summary and Concluding Thoughts on the Subprime Crisis

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

Holmström Bengt

Tirole Jean

The MIT Press

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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