Date of Award

1-1-2015

Document Type

Masters Thesis

Degree Name

M.A.

Organizational Unit

College of Arts Humanities and Social Sciences, Economics

First Advisor

Tracy Mott, Ph.D.

Second Advisor

Robert Urquhart

Third Advisor

Yavuz Yasar

Fourth Advisor

Peter Hanson

Keywords

2008 economic crisis, Mortgage market

Abstract

The purpose of this thesis is to explain the mortgage market's behavior from 2001 through the first quarter of 2007 by discussing the economic incentives key market participants faced. By exploring incentives faced by key participants, a multifaceted yet logical explanation for the aggressive economic expansion and contraction appears. Throughout this paper I argue that the simultaneous acting upon of such incentives was fundamental to the market behavior and that the actions of each participant are, for the most part, understandable given the incentives that each faced. The paper will describe the monetary and cultural incentives underlying this behavior and show how they pertain to the macroeconomic context of the time and to the mortgage crisis. While the incentives discussed in this paper do not comprise an exhaustive list, they sufficiently cover the most vital influences. Most importantly, this thesis does not attempt to find one factor to be more important than another.

Publication Statement

Copyright is held by the author. User is responsible for all copyright compliance.

Rights Holder

Justin P. Nowicki

Provenance

Received from ProQuest

File Format

application/pdf

Language

en

File Size

113 p.

Discipline

Economics, Finance

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