Footnote:
In: Journal of Applied Finance (Formerly Financial Practice and Education), Vol. 22, No. 2, 2012
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments November 12, 2015 erstellt
Description:
The money markets are at the heart of the recent financial crisis and are the subject of substantial news coverage. However, much of what was reported showed a lack of understanding of money markets in general and, specifically, a lack of understanding as to why the financial crisis unfolded as it did in these markets; the purpose of this paper is to discuss what actually happened and why. Specifically, we discuss: (1) the economic role of the money markets, (2) the institutional features of the money markets central to the financial crisis and, (3) what actually happened in the various money markets