全球智库信息集成服务系统(G2TT): Securitization

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w18611
来源ID	Working Paper 18611
	Securitization
	Gary Gorton; Andrew Metrick
发表日期	2012-12-14
出版年	2012
语种	英语
摘要	We survey the literature on securitization and lay out a research program for its open questions. Securitization is the process by which loans, previously held to maturity on the balance sheets of financial intermediaries, are sold in capital markets. Securitization has grown from a small amount in 1990 to a pre-crisis issuance amount that makes it one of the largest capital markets. In 2005 the amount of non-mortgage asset-backed securities issued in U.S. capital markets exceeded the amount of U.S. corporate debt issued, and these securitized bonds - even those unrelated to subprime mortgages -- were at center of the recent financial crisis. Nevertheless, despite the transformative effect of securitization on financial intermediation, the literature is still relatively small and many fundamental questions remain open.
主题	Macroeconomics ; Financial Economics ; Financial Institutions
URL	https://www.nber.org/papers/w18611
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/576286
推荐引用方式 GB/T 7714	Gary Gorton,Andrew Metrick. Securitization. 2012.