@article{436,
  author = {Markus Brunnermeier},
  title = {Deciphering the Liquidity and Credit Crunch 2007-2008},
  abstract = { <p>This paper summarizes and explains the main events of the liquidity and credit crunch in 2007-08. Starting with the trends leading up to the crisis, I explain how these events unfolded and how four different amplification mechanisms magnified losses in the mortgage market into large dislocations and turmoil in financial markets.</p> },
  year = {2009},
  journal = {Journal of Economic Perspectives},
  volume = {23},
  number = {1},
  pages = {77-100},
  language = {eng},
}