142 research outputs found
Securitization and financialization
Securitization and financialization are the main causes of the financial crisis. These two concepts explain not only Minskyâs financial instability hypothesis but also the off-balance-sheet operations represented by erivative
products, which are closely related to mortgage loans. Financial intermediaries in need of liquidity did everything in their power so that the securitization of assets could have a life of its own in financial operations. This is a process that is endogenous to the development of financialization. Because said process
was a violation of the monetary economy, it was necessary for central banks to intervene as âlenders of last resortâ as well as to nationalize and restructure all the financial intermediaries
Speaking to the people? Money, trust, and central bank legitimacy in the age of quantitative easing
Income velocity and the variability of money growth: evidence from less developed countries
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