The Role of Securitization in Bank Liquidity and Funding Management

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What’s in an education? Implications of CEO education for bank performance (2016, background): “Loutskina (2011) argues that securitization enhances liquidity creation by transforming illiquid loans into marketable securities, which leads to an increase in the supply of credit.”
The role of institutional investors in propagating the crisis of 2007-2008. (2012, positive): “As argued in Dang, Gorton, and Holmström (2010) and empirically shown in Loutskina (2010), securitized bonds were liquid, owing to their information insensitivity, which allowed dispersed ownership by uninformed institutional investors in the pre-crisis period.”
Tracing Out Capital Flows: How Financially Integrated Banks Respond to Natural Disasters (2014, methodology): “As described in Loutskina and Strahan (2009), the mortgage market has been segmented by the activities of the GSEs – Fannie Mae and Freddie Mac.”