We know what the CMBS did last summer and why
Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1999.
| Main Authors: | , |
|---|---|
| Other Authors: | |
| Format: | Thesis |
| Language: | eng |
| Published: |
Massachusetts Institute of Technology
2007
|
| Subjects: | |
| Online Access: | http://hdl.handle.net/1721.1/35751 |
| _version_ | 1826212759902093312 |
|---|---|
| author | Cavallo, Malik, 1971- Kinyua, Josphat K |
| author2 | Timothy J. Riddiough. |
| author_facet | Timothy J. Riddiough. Cavallo, Malik, 1971- Kinyua, Josphat K |
| author_sort | Cavallo, Malik, 1971- |
| collection | MIT |
| description | Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1999. |
| first_indexed | 2024-09-23T15:37:46Z |
| format | Thesis |
| id | mit-1721.1/35751 |
| institution | Massachusetts Institute of Technology |
| language | eng |
| last_indexed | 2024-09-23T15:37:46Z |
| publishDate | 2007 |
| publisher | Massachusetts Institute of Technology |
| record_format | dspace |
| spelling | mit-1721.1/357512019-04-12T20:19:11Z We know what the CMBS did last summer and why We know what the Commercial Mortgage-Backed Securities Market did last summer and why Cavallo, Malik, 1971- Kinyua, Josphat K Timothy J. Riddiough. Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Massachusetts Institute of Technology. Dept. of Urban Studies and Planning. Urban Studies and Planning. Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Urban Studies and Planning, 1999. Written by two authors. Cavallo received his degree, Sept. 1999. As of June 2004, Kinyua has not been awarded a degree. Includes bibliographical references (leaves 76-83). Much has been written about the financial crisis that engulfed the financial markets in the summer and fall of 1998. Little has been written about the effect of this crisis on the fledgling Commercial Mortgage-Backed Securities Market (CMBS). By comparing and contrasting the CMBS market with other comparative fixed-income securities, this thesis establishes that there were specific characteristics of the CMBS market that made it more vulnerable to the market turmoil than other fixed-income securities. First, the thesis seeks to clarify the series of events that culminated in the meltdown of CMBS. We also address CRIIMI MAE, at the time the largest buyer of subordinate CMBS and an emerging player in CMBS issuance, in a case study to assess structural vulnerability in the CMBS market. Finally, we explore the hedging potential of CMBS by regressing a range of domestic and international financial asset prices and various rated CMBS prices during three carefully chosen time periods within the summer and fall crisis period. by Malik Cavallo and Josphat K. Kinyua. S.M. 2007-01-22T17:59:45Z 2007-01-22T17:59:45Z 1999 1999 Thesis http://hdl.handle.net/1721.1/35751 56025427 eng M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission. http://dspace.mit.edu/handle/1721.1/7582 92 leaves 3681172 bytes 3680968 bytes application/pdf application/pdf application/pdf Massachusetts Institute of Technology |
| spellingShingle | Urban Studies and Planning. Cavallo, Malik, 1971- Kinyua, Josphat K We know what the CMBS did last summer and why |
| title | We know what the CMBS did last summer and why |
| title_full | We know what the CMBS did last summer and why |
| title_fullStr | We know what the CMBS did last summer and why |
| title_full_unstemmed | We know what the CMBS did last summer and why |
| title_short | We know what the CMBS did last summer and why |
| title_sort | we know what the cmbs did last summer and why |
| topic | Urban Studies and Planning. |
| url | http://hdl.handle.net/1721.1/35751 |
| work_keys_str_mv | AT cavallomalik1971 weknowwhatthecmbsdidlastsummerandwhy AT kinyuajosphatk weknowwhatthecmbsdidlastsummerandwhy AT cavallomalik1971 weknowwhatthecommercialmortgagebackedsecuritiesmarketdidlastsummerandwhy AT kinyuajosphatk weknowwhatthecommercialmortgagebackedsecuritiesmarketdidlastsummerandwhy |