Research sheds new light on the Great Recession
Tuesday, October 13, 2015 - 13:00
in Mathematics & Economics
It's no secret that a housing bubble kicked off the financial crisis that began in 2007, rippling through institutions caught holding subprime mortgages. But a fresh look suggests much of the lingering damage was caused by the forced sale of corporate bonds at below-market prices, starting a chain reaction that cascaded through the supply chain.