Aussie Mac: A Policy Proposal for Australia

A Policy Initiative to the Australian Government to Protect Households and the Financial System against Current and Future Credit Crises

12/03/2008

Christopher R. Joye, Rismark
Joshua S. Gans, Melbourne Business School, University of Melbourne

Abstract

There is a new global financial crisis emerging caused by the collapse of sub-prime lending in the United States. As with previous capital market dislocations, Australia has not been insulated from the instability. The 'primary' market for residential mortgage-backed securities in Australia has for all intents and purposes evaporated. The consequence of this is that smaller banks, building societies and non-b… [Read Full Text]

Joshua Gans

Professor of Management
Innovation Research Program, Centre for Ideas and The Economy