When Housing Markets Meet Shadow Banking: Bubbles, Mortgages, Securitization, And Fintech PDF Download
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Author: Rose Neng Lai
Publisher: World Scientific
ISBN: 9811283893
Category : Business & Economics
Languages : en
Pages : 362
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Book Description
This book contends that the housing markets and shadow banking have been involved in a kind of 'dance' over the last two decades. It traces this dance to be between the roles of mortgage markets since the 1980s in both the US and China and the developments of securitization and 'shadow banks.' It gives side-by-side comparisons between the two and suggests that house price dynamics have been similar, but also quite different. Both had booms. The US had a bubble that burst around 2007 — after prices became quite high relative to rents and then crashed. However, Chinese housing markets, which had a similar run-up, did not have a burst bubble. Rather, the rising property values appear to have been from space becoming more valuable as reflected in rent growth. In the US, prices chased prices; in China, prices chased rents.Mortgage markets were more complicated, beginning with the securitization in the US, and the rise of shadow banks that both led and followed. The US used shadow banks to hold pieces of securitization deals and funded them with deposit-like debt. These pieces were fragile and their collapse caused 'silent runs,' which were instrumental in the ensuing crash. China's shadow banks were more like traditional intermediaries, unattached to securitization. Their liabilities were mostly not short-term, as was the case with US shadow banks. So, runs were not a problem, but getting the market to work efficiently was.The markets have evolved. And while the music has changed, the dance is not over.
Author: Rose Neng Lai
Publisher: World Scientific
ISBN: 9811283893
Category : Business & Economics
Languages : en
Pages : 362
Get Book Here
Book Description
This book contends that the housing markets and shadow banking have been involved in a kind of 'dance' over the last two decades. It traces this dance to be between the roles of mortgage markets since the 1980s in both the US and China and the developments of securitization and 'shadow banks.' It gives side-by-side comparisons between the two and suggests that house price dynamics have been similar, but also quite different. Both had booms. The US had a bubble that burst around 2007 — after prices became quite high relative to rents and then crashed. However, Chinese housing markets, which had a similar run-up, did not have a burst bubble. Rather, the rising property values appear to have been from space becoming more valuable as reflected in rent growth. In the US, prices chased prices; in China, prices chased rents.Mortgage markets were more complicated, beginning with the securitization in the US, and the rise of shadow banks that both led and followed. The US used shadow banks to hold pieces of securitization deals and funded them with deposit-like debt. These pieces were fragile and their collapse caused 'silent runs,' which were instrumental in the ensuing crash. China's shadow banks were more like traditional intermediaries, unattached to securitization. Their liabilities were mostly not short-term, as was the case with US shadow banks. So, runs were not a problem, but getting the market to work efficiently was.The markets have evolved. And while the music has changed, the dance is not over.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 586
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Book Description
Author: Joseph Parker
Publisher:
ISBN:
Category :
Languages : en
Pages : 380
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Book Description
Author:
Publisher: Albert Long
ISBN:
Category :
Languages : en
Pages : 148
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Book Description
Author: David Laing
Publisher: Woodslane Press
ISBN: 0987497065
Category : Juvenile Fiction
Languages : en
Pages : 214
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Book Description
Several things happen on the eve of the long weekend: Jars Kelly and her cousin Snook are accused of stealing some valuable gem stones from the local jewellers; strange lights are seen hovering above their town, Cray Bay; and the bumbling Quenton Quigley stumbles across a riddle that could lead them to a hidden treasure. To find out what the riddle means, an adventure full of mystery, excitement and intrigue, plus lots of twists and turns, begins. It all takes place in a dense Tasmanian rain forest where Jars and Snook accidently meet an old Chinese prospector called Wu Han who has a secret - the secret of the riddle. That's when the fun begins. There is a race between their old enemies the Grimshaws, the smelly visitors from outer space known as The Collectors and the Kelly kids. Why are The Collectors lurking in the forest and why is Wu Han so afraid of them? Who will be the first to solve the riddle and find the treasure?Why is their Headmaster in for a big surprise when school resumes after the long weekend?
Author: Joseph D. Parker
Publisher:
ISBN:
Category : Bible
Languages : en
Pages : 378
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Book Description
Author: Ed Greenwood
Publisher: Wizards of the Coast
ISBN: 078696166X
Category : Fiction
Languages : en
Pages : 273
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Book Description
Shadows loom as Elminster’s archnemeses plot a desperate last grasp for power over Faerûn The Time of Troubles has almost passed. At last, the chaos of spilled blood, lawless strife, monsters unleashed, and avatars roaming Faerûn is reaching an end. However, this is not the case for Those Who Walk in Shadow. The dreaded and insidious Shadowmasters realize that they have one last chance to seize control while chaos still wreaks havoc across the Realms. In doing so, they seal the fate of not just their archenemy Elminster, but all of Mystra's minions as well. Darkness threatens to envelop all Faerûn.
Author: Francisco Louçã
Publisher: Oxford University Press
ISBN: 0192563297
Category : Business & Economics
Languages : en
Pages : 396
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Book Description
The 2007-08 financial crisis surprised many economists and the public. But how did the crisis come about, why was it so deep, and why has the clean-up been so slow and painful? Many accounts of the crisis focus on renegade activity in marginal financial sectors. Shadow Networks challenges this pervading view and sets out to demonstrate that, far from a dissident branch, the shadow finance that initiated the crisis is tightly networked with, and highly profitable for, bank-based finance. The collapse was not an accident, but baked into the system of finance from the start. Shadow Networks traces the complex web of power that caused crisis and gives vivid descriptions of the actors in the quarter century leading up to 2007 to explain how the now decade-long crisis took shape. Shadow Networks: Financial Disorder and the System that Caused Crisis is a probing examination of the roles of the powerful elite. It traces the networks and institutions that support a finance-focused, market centered model of economy and society from their ascendancy to their surprising resilience in the face of manifest failures.
Author: Mishi Saran
Publisher: Penguin Global
ISBN:
Category : Biography & Autobiography
Languages : en
Pages : 464
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Book Description
In the seventh century AD, the Chinese monk Xuanzang set off on an epic journey to India to study Buddhist philosophy from the Indian masters. Traveling along the Silk Road, braving brigands and blizzards, Xuanzang finally reached India, where his spiritual quest took him to Buddhist holy places and monasteries throughout the subcontinent. Fourteen hundred years later, Mishi Saran follows in Xuanzang's footsteps to the fabled oasis cities of China and Central Asia, and the Buddhist sites and now-vanished kingdoms in India, Pakistan and Afghanistan that Xuanzang wrote about. Traveling seamlessly back and forth in time between the seventh century and the twenty-first, Saran uncovers the past with consummate skill even as she brings alive the present through her vivid and engaging descriptions of people and places. A riveting mix of lively reportage, high adventure, historical inquiry and personal memoir, this delightfully written book is a path-breaking travelogue.
Author: Kwame Mbalia
Publisher: Disney Electronic Content
ISBN: 1368054412
Category : Juvenile Fiction
Languages : en
Pages : 491
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Book Description
Best-selling author Rick Riordan presents Kwame Mbalia's epic fantasy, a middle grade American Gods set in a richly-imagined world populated with African American folk heroes and West African gods. Seventh grader Tristan Strong feels anything but strong ever since he failed to save his best friend when they were in a bus accident together. All he has left of Eddie is the journal his friend wrote stories in. Tristan is dreading the month he's going to spend on his grandparents' farm in Alabama, where he's being sent to heal from the tragedy. But on his first night there, a sticky creature shows up in his bedroom and steals Eddie's notebook. Tristan chases after it--is that a doll?--and a tug-of-war ensues between them underneath a Bottle Tree. In a last attempt to wrestle the journal out of the creature's hands, Tristan punches the tree, accidentally ripping open a chasm into the MidPass, a volatile place with a burning sea, haunted bone ships, and iron monsters that are hunting the inhabitants of this world. Tristan finds himself in the middle of a battle that has left black American folk heroes John Henry and Brer Rabbit exhausted. In order to get back home, Tristan and these new allies will need to entice the god Anansi, the Weaver, to come out of hiding and seal the hole in the sky. But bartering with the trickster Anansi always comes at a price. Can Tristan save this world before he loses more of the things he loves?
