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Lavoro E Produttività Nell'economia Globale. La Contrattazione Collettiva Decentrata Dopo La Manovra Di Ferragosto 2011, Michele Faioli, Angelo Pandolfo
Lavoro E Produttività Nell'economia Globale. La Contrattazione Collettiva Decentrata Dopo La Manovra Di Ferragosto 2011, Michele Faioli, Angelo Pandolfo
Michele Faioli
No abstract provided.
Is Competition The Solution Or The Problem? An Analysis Of U.S. Mortgage Securitization, Michael N. Simkovic
Is Competition The Solution Or The Problem? An Analysis Of U.S. Mortgage Securitization, Michael N. Simkovic
Michael N Simkovic
This article’s original contribution to the literature about the causes of the U.S. mortgage crisis of the late 2000s is to analyze two important causes that have thus far only been discussed in passing. First, this article provides evidence that fragmentation of the securitization market in the mid-2000s and competition between mortgage securitizers undermined securitizers’ ability to control originators, and that such competition led to a race to the bottom on underwriting standards. Second, this article provides evidence of a shift in market power away from securitizers and toward originators during the mid-2000s, and argues that this shift in power …