Understanding Structured Finance

The phenomenon of structured finance or what is popularly known as securitization played an important role in the current financial crisis. The following two papers serve as a good guide to this aspect of finance and its implications.

Coval, Joshua, Jakub Jurek, and Erik Stafford. 2009. “The Economics of Structured Finance.” Journal of Economic Perspectives, 23(1): 3–25.

Adam B. Ashcraft and Til Schuermann, “Understanding the Securitization of Subprime Mortgage Credit,” Foundations and Trends in Finance 2, no. 3 (July 2008): 191-309.

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Filed under current economic issues, macroeconomics

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