کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
958195 928896 2011 20 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Assessing the effectiveness of the Paulson “teaser freezer” Plan: Evidence from the ABX index
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری استراتژی و مدیریت استراتژیک
پیش نمایش صفحه اول مقاله
Assessing the effectiveness of the Paulson “teaser freezer” Plan: Evidence from the ABX index
چکیده انگلیسی

How did investors holding assets backed by subprime residential mortgages react when Treasury Secretary Paulson announced the so-called “teaser freezer” plan to modify mortgages in December 2007? We apply event-study methodology to the ABX index, the only source of daily securities prices in subprime mortgage markets. Our results show that investors initially perceived that the Paulson Plan would improve conditions in subprime housing markets. Specifically, those investors who held the riskiest securities backed by subprime residential housing benefited the most from the Paulson Plan. These findings do not extend to the longer term, suggesting that any positive effects from Paulson Plan were overwhelmed by the continued deterioration in housing markets.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economics and Business - Volume 63, Issue 5, September–October 2011, Pages 392–411
نویسندگان
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