#12My first source

Yellen, J. (2008). The Mortgage Meltdown, Financial Markets, and the Economy. FRBSF Economic Letter, 2008(35/36), 1-7.

My research paper is about late-2000s recession, and the sub-prime mortgage problem is one of the important reason that caused the recession.  The sub-prime mortgage problem affected not only on housing market but also the global economy. This article gave me a general idea of how the mortgage influenced the economy.  For example, it talked about the problem that the drop of house prices will also affected the financial activities. This is like a chain reaction. Since people reduced the spending on commodities, the unemployment rate will arise, and the unemployment rate arises, the credit crunch problem will increase. All the problems leaded to the recession.
  This is just one of the problem that contains in my research paper.