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The Asset-Backed Securities Markets, the Crisis, and TALF

15 Pages Posted: 18 Dec 2010  

Sumit Agarwal

Georgetown University - Department of Finance

Jacqueline Barrett

affiliation not provided to SSRN

Crystal Cun

affiliation not provided to SSRN

Mariacristina De Nardi

University College London, Economics Dpt.; Federal Reserve Bank of Chicago; National Bureau of Economic Research (NBER) - Public Economics

Date Written: December 16, 2010

Abstract

In response to recessions beginning in 1973, 2001, and 2007, the federal government provided financial aid to states, with the dual goals of stabilizing state finances and stimulating the economy. The timing of fund provision and the ultimate allocation of funds were often less than optimal. The authors look at how to design a more effective process for starting and stopping state aid.

Keywords: securitization, credit crises, TALF

Suggested Citation

Agarwal, Sumit and Barrett, Jacqueline and Cun, Crystal and De Nardi, Mariacristina, The Asset-Backed Securities Markets, the Crisis, and TALF (December 16, 2010). Economic Perspectives, Vol. 34, No. 4, 2010; FRB of Chicago Working Paper . Available at SSRN: https://ssrn.com/abstract=1726548

Sumit Agarwal (Contact Author)

Georgetown University - Department of Finance ( email )

3700 O Street, NW
Washington, DC 20057
United States
202-687-8207 (Phone)

HOME PAGE: http://www.ushakrisna.com

Jacqueline Barrett

affiliation not provided to SSRN ( email )

Crystal Cun

affiliation not provided to SSRN ( email )

Mariacristina De Nardi

University College London, Economics Dpt. ( email )

Gower Street
London WC1E 6BT, WC1E 6BT
United Kingdom

Federal Reserve Bank of Chicago ( email )

Research Department
230 South LaSalle Street
Chicago, IL 60604
United States
312 322 5769 (Phone)
312 322 2357 (Fax)

HOME PAGE: http://www.nber.org/~denardim

National Bureau of Economic Research (NBER) - Public Economics ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

HOME PAGE: http://www.nber.org/~denardim

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