Open Access
Title: The Big Short – A systematic literature review on the causes of the subprime crisis as cited in popular literature
Language: English
Authors: Stempel, Silas 
Keywords: subprime crisis;financial crisis;mortgage market;rating agencies;financial regulation;systematic literature review;securitization
Issue Date: 2021
Abstract: 
The subprime crisis, which eventually evolved into a global financial crisis, took place more than 12 years ago and still marks the most significant economic turndown since the great depression of the 1930s. Two years after the crisis, former investment banker and current book author Michael M. Lewis published the successful, non-fictional book named “The Big Short: Inside the Doomsday Machine”, in which he explains his perception of the occurrences and the causes of the crisis, while narrating the story of a group of people that had anticipated its development. As Lewis’ assertions can be questioned in regard to their truthfulness due to several reasons, a systematic literature review is applied to compare his statements to scientific research. By validating five individual hypotheses based on Lewis’ statements, this thesis finds that his display of the crisis can principally be confirmed. However, as one-sided, incomplete, and exaggerated statements on a detailed level can be repeatedly identified throughout Lewis’ deliberations, elements of simplification, bias or a conscious use of embellishment are detected.
URI: https://reposit.haw-hamburg.de/handle/20.500.12738/11113
Institute: Department Wirtschaft 
Fakultät Wirtschaft und Soziales 
Type: Thesis
Thesis type: Bachelor Thesis
Advisor: Decker, Christian 
Referee: Gille, Michael 
Appears in Collections:Theses

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