Details about Gary Gorton
Access statistics for papers by Gary Gorton.
Last updated 2023-02-24. Update your information in the RePEc Author Service.
Short-id: pgo458
Jump to Journal Articles Books Chapters
Working Papers
2024
- The Informational Centrality of Banks
Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2023)
2023
- Information Dynamics and Macro Fluctuations
NBER Working Papers, National Bureau of Economic Research, Inc
2022
- Leverage and Stablecoin Pegs
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
- Making Money
NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
2021
- Corporate Culture
NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
- Economic Growth and Bank Innovation
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
2020
- Adverse Selection Dynamics in Privately-Produced Safe Debt Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2020) View citations (1)
- Corporate Culture as a Theory of the Firm
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
- Private Money Production without Banks
NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
- The Macroprudential Role of Stock Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
2019
- 1930: First Modern Crisis
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
- Social Progress and Corporate Culture
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
- The Information View of Financial Crises
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
- The Regulation of Private Money
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
2018
- Collateral Damage
NBER Working Papers, National Bureau of Economic Research, Inc
- The Run on Repo and the Fed's Response
NBER Working Papers, National Bureau of Economic Research, Inc
2017
- Bank Health Post-Crisis
NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
2016
- Fighting Crises
NBER Working Papers, National Bureau of Economic Research, Inc
- Good Booms, Bad Booms
NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
- How Did Pre-Fed Banking Panics End?
Working Papers (Old Series), Federal Reserve Bank of Cleveland View citations (18)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (11)
- Mobile Collateral versus Immobile Collateral
NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
- Optimal Monetary Policy in a Collateralized Economy
NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
- The History and Economics of Safe Assets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
- Too-Big-To-Fail Before the Fed
NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
Also in Working Papers (Old Series), Federal Reserve Bank of Cleveland (2016) View citations (8)
2015
- Facts and Fantasies about Commodity Futures Ten Years Later
NBER Working Papers, National Bureau of Economic Research, Inc View citations (70)
2014
- Banks as Secret Keepers
NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
- The Flight from Maturity
NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
2013
- The Development of Opacity in U.S. Banking
NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
- The Federal Reserve and Financial Regulation: The First Hundred Years
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
- The Supply and Demand for Safe Assets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (54)
2012
- Collateral Crises
NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2011) View citations (3)
- Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
NBER Working Papers, National Bureau of Economic Research, Inc View citations (71)
- Securitization
NBER Working Papers, National Bureau of Economic Research, Inc
- Some Reflections on the Recent Financial Crisis
NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
- The Safe-Asset Share
NBER Working Papers, National Bureau of Economic Research, Inc View citations (102)
- Who Ran on Repo?
NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
2010
- Questions and Answers about the Financial Crisis
NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
2009
- Haircuts
NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
See also Journal Article Haircuts, Review, Federal Reserve Bank of St. Louis (2010) (2010)
- Information, Liquidity, and the (Ongoing) Panic of 2007
NBER Working Papers, National Bureau of Economic Research, Inc View citations (163)
See also Journal Article Information, Liquidity, and the (Ongoing) Panic of 2007, American Economic Review, American Economic Association (2009) View citations (161) (2009)
- Securitized Banking and the Run on Repo
NBER Working Papers, National Bureau of Economic Research, Inc View citations (105)
See also Chapter Securitized Banking and the Run on Repo, NBER Chapters, National Bureau of Economic Research, Inc (2010) View citations (55) (2010)
- The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
2008
- Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors
NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
- The Panic of 2007
NBER Working Papers, National Bureau of Economic Research, Inc View citations (296)
See also Journal Article The panic of 2007, Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City (2008) View citations (29) (2008)
- The Subprime Panic
NBER Working Papers, National Bureau of Economic Research, Inc View citations (68)
See also Journal Article The Subprime Panic*, European Financial Management, European Financial Management Association (2009) View citations (81) (2009)
2007
- The Fundamentals of Commodity Futures Returns
NBER Working Papers, National Bureau of Economic Research, Inc View citations (61)
2006
- Agency-Based Asset Pricing
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
- Asset Prices When Agents are Marked-to-Market
NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
- Eat or be eaten: a theory of mergers and firm size
Working Paper Series, Federal Reserve Bank of Chicago View citations (1)
See also Journal Article Eat or Be Eaten: A Theory of Mergers and Firm Size, Journal of Finance, American Finance Association (2009) View citations (73) (2009)
- Noise Traders
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
2005
- Bank Credit Cycles
NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
- Eat or Be Eaten: A Theory of Mergers and Merger Waves
NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
- Special Purpose Vehicles and Securitization
NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
Also in Working Papers, Federal Reserve Bank of Philadelphia (2005) View citations (41)
See also Chapter Special Purpose Vehicles and Securitization, NBER Chapters, National Bureau of Economic Research, Inc (2007) View citations (44) (2007)
2004
- Facts and Fantasies about Commodity Futures
NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
- SEC Regulation Fair Disclosure, Information, and the Cost of Capital
NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
See also Journal Article SEC Regulation Fair Disclosure, information, and the cost of capital, Journal of Corporate Finance, Elsevier (2007) View citations (59) (2007)
2003
- Equilibrium Asset Prices Under Imperfect Corporate Control
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
2002
- Bank Panics and the Endogeneity of Central Banking
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (14)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (21)
See also Journal Article Bank panics and the endogeneity of central banking, Journal of Monetary Economics, Elsevier (2006) View citations (25) (2006)
- Banking Panics and the Origin of Central Banking
NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
- Class struggle inside the firm: a study of German codetermination
Working Papers, Federal Reserve Bank of St. Louis View citations (3)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (25) Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (2000) View citations (22)
- Financial Intermediation
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (49)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (50)
See also Chapter Financial intermediation, Handbook of the Economics of Finance, Elsevier (2003) View citations (96) (2003)
- Liquidity, Efficiency and Bank Bailouts
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
Also in Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (2002) View citations (26)
See also Journal Article Liquidity, Efficiency, and Bank Bailouts, American Economic Review, American Economic Association (2004) View citations (103) (2004)
- The Scarcity of Effective Monitors and Its Implications For Corporate Takeovers and Ownership Structures
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (1)
2001
- Banking Prices and the Origin of Central Banking
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (1)
2000
- The Visible Hand, The Invisible Hand and Efficiency
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania 
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (1)
1999
- Blockholder Identity, Equity Ownership Structures and Hostile Takeovers
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (8)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (9)
1996
- Executive Compensation and the Optimality of Managerial Entrenchment
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (3)
- The social costs of bank capital
Proceedings, Federal Reserve Bank of Chicago
- Universal Banking and the Performance of German Firms
NBER Working Papers, National Bureau of Economic Research, Inc View citations (62)
See also Journal Article Universal banking and the performance of German firms, Journal of Financial Economics, Elsevier (2000) View citations (195) (2000)
1995
- Bank Capital Regulation in General Equilibrium
NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (22)
- Banks and Derivatives
NBER Working Papers, National Bureau of Economic Research, Inc View citations (63)
Also in Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (1995) View citations (60) Working Papers, Federal Reserve Bank of Philadelphia (1995) View citations (59) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (64) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (59)
See also Chapter Banks and Derivatives, NBER Chapters, National Bureau of Economic Research, Inc (1995) View citations (63) (1995)
- Banks and corporate finance in Germany
Proceedings, Federal Reserve Bank of Chicago
- Stock Market Efficiency and Economic Efficiency: Is There a Connection?
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (6) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (4)
See also Journal Article Stock Market Efficiency and Economic Efficiency: Is There a Connection?, Journal of Finance, American Finance Association (1997) View citations (229) (1997)
- Universal Banking and the Performance of German Firms Federal Reserve Bank of Chicago
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (6)
1994
- Corporate Control, Portfolio Choice, and the Decline of Banking
Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (4)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (12) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (1) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (3) Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1992) View citations (33)
See also Journal Article Corporate Control, Portfolio Choice, and the Decline of Banking, Journal of Finance, American Finance Association (1995) View citations (246) (1995)
- Noise Trading, Delegated Portfolio Management, and Economic Welfare
NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (7) Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (1994) View citations (7)
See also Journal Article Noise Trading, Delegated Portfolio Management, and Economic Welfare, Journal of Political Economy, University of Chicago Press (1997) View citations (114) (1997)
1993
- Arbitrage Chains
CEPR Financial Markets Paper, European Science Foundation Network in Financial Markets, c/o C.E.P.R, 33 Great Sutton Street, London EC1V 0DX.
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (1) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research NBER Working Papers, National Bureau of Economic Research, Inc (1993) 
See also Journal Article Arbitrage Chains, Journal of Finance, American Finance Association (1994) View citations (91) (1994)
- Pricing bank loans
Proceedings, Federal Reserve Bank of Chicago View citations (1)
- Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
See also Journal Article Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing, Journal of Economic Theory, Elsevier (1995) View citations (20) (1995)
- Reputation Formation in Early Bank Debt Markets
NBER Working Papers, National Bureau of Economic Research, Inc
- The Design of Bank Loan Contracts, Collateral, and Renegotiation
NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)
Also in RCER Working Papers, University of Rochester - Center for Economic Research (RCER) (1992)
1992
- Nonbanks and the future of banking
Proceedings, Federal Reserve Bank of Chicago
- The size of the banking industry and managerial entrenchment
Proceedings, Federal Reserve Bank of Chicago
1991
- Rational Finite Bubbles
NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (1)
- Security Baskets and Index-Linked Securities
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (5)
See also Journal Article Security Baskets and Index-Linked Securities, The Journal of Business, University of Chicago Press (1993) View citations (96) (1993)
- Stock Price Manipulation, Market Microstructure and Asymetric Information
Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research
Also in NBER Working Papers, National Bureau of Economic Research, Inc (1991) View citations (7)
See also Journal Article Stock price manipulation, market microstructure and asymmetric information, European Economic Review, Elsevier (1992) View citations (83) (1992)
- The Enforceability of Private Money Contracts, Market Efficiency, and Technological Change
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Trading, Communication and the Response of Price to New Information
NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
1990
- Banks and Loan Sales: Marketing Non-Marketable Assets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
See also Journal Article Banks and loan sales Marketing nonmarketable assets, Journal of Monetary Economics, Elsevier (1995) View citations (252) (1995)
1989
- Public policy and the evolution of banking markets
Proceedings, Federal Reserve Bank of Chicago
- SELF-GENERATING TRADE AND RATIONAL FADS: THE RESPONSE OF PRICE TO NEW INFORMATION
Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research View citations (2)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (2) Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (1)
1988
- The market's evaluation of bank risk: a methodological approach
Proceedings, Federal Reserve Bank of Chicago
1987
- The paradox of loan sales
Proceedings, Federal Reserve Bank of Chicago View citations (4)
1986
- Banking panics and business cycles
Working Papers, Federal Reserve Bank of Philadelphia View citations (1)
See also Journal Article Banking Panics and Business Cycles, Oxford Economic Papers, Oxford University Press (1988) View citations (441) (1988)
- Banking panics and business cycles: data sources, data construction, and further results
Working Papers, Federal Reserve Bank of Philadelphia
Undated
- Are Loan Sales Really Off-Balance Sheet
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (6)
- Bank Deregulation, Credit Markets and the Control of Capital
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (3)
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (4)
See also Journal Article Bank deregulation, credit markets, and the control of capital, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1987) View citations (13) (1987)
- Banks and Loan Sales: Marketing Non-Marketable Assets (Reprint 051)
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Churning Bubbles (Reprint 039)
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Executive Compensation & the Boundary of the Firm: The Case of Short-Lived Projects
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research 
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Incomplete and the Endogeneity of Central Banking
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Loan Sales, Recourse, and Reputation: An Analysis of Secondary Loan Participations
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (1)
- Market Discipline and the Valuation of Bank Subordinated Debt
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing (Reprint 052)
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Stock Price Manipulation, Market Microstructure and Asymmetric Information (Reprint 024)
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- The Design of Bank Loan Contracts, Collateral, and Renegotiation (Revised: 2-96)
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (5)
- The Design of Bank Loan Contracts, Collateral, and Renegotiation (Revision of 1-93)
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (5)
- The Loan Sales Market
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (9)
- The Origins of Banking Panics: Models, Facts, and Bank Regulation
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations (62)
See also Chapter The Origins of Banking Panics: Models, Facts, and Bank Regulation, NBER Chapters, National Bureau of Economic Research, Inc (1991) View citations (299) (1991)
- Transaction Contracts
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
- Welfare Improving Nominal Contracts
Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
Journal Articles
2010
- E-coli, Repo Madness, and the Financial Crisis
Business Economics, 2010, 45, (3), 164-173 View citations (1)
- Haircuts
Review, 2010, 92, (Nov), 507-520 
See also Working Paper Haircuts, NBER Working Papers (2009) View citations (9) (2009)
- Regulating the Shadow Banking System
Brookings Papers on Economic Activity, 2010, 41, (2 (Fall)), 261-312 View citations (203)
- Security Price Informativeness with Delegated Traders
American Economic Journal: Microeconomics, 2010, 2, (4), 137-70 View citations (3)
2009
- Eat or Be Eaten: A Theory of Mergers and Firm Size
Journal of Finance, 2009, 64, (3), 1291-1344 View citations (73)
See also Working Paper Eat or be eaten: a theory of mergers and firm size, Working Paper Series (2006) View citations (1) (2006)
- Information, Liquidity, and the (Ongoing) Panic of 2007
American Economic Review, 2009, 99, (2), 567-72 View citations (161)
See also Working Paper Information, Liquidity, and the (Ongoing) Panic of 2007, NBER Working Papers (2009) View citations (163) (2009)
- The Subprime Panic*
European Financial Management, 2009, 15, (1), 10-46 View citations (81)
See also Working Paper The Subprime Panic, NBER Working Papers (2008) View citations (68) (2008)
2008
- Blockholder Scarcity, Takeovers, and Ownership Structures
Journal of Financial and Quantitative Analysis, 2008, 43, (4), 937-974 View citations (4)
- The panic of 2007
Proceedings - Economic Policy Symposium - Jackson Hole, 2008, 131-262 View citations (29)
See also Working Paper The Panic of 2007, NBER Working Papers (2008) View citations (296) (2008)
2007
- SEC Regulation Fair Disclosure, information, and the cost of capital
Journal of Corporate Finance, 2007, 13, (2-3), 300-334 View citations (59)
See also Working Paper SEC Regulation Fair Disclosure, Information, and the Cost of Capital, NBER Working Papers (2004) View citations (10) (2004)
2006
- Bank panics and the endogeneity of central banking
Journal of Monetary Economics, 2006, 53, (7), 1613-1629 View citations (25)
See also Working Paper Bank Panics and the Endogeneity of Central Banking, Center for Financial Institutions Working Papers (2002) View citations (14) (2002)
2005
- Equilibrium Investment and Asset Prices under Imperfect Corporate Control
American Economic Review, 2005, 95, (3), 659-681 View citations (34)
2004
- Capital, Labor, and The Firm: A Study of German Codetermination
Journal of the European Economic Association, 2004, 2, (5), 863-905 View citations (83)
- Liquidity, Efficiency, and Bank Bailouts
American Economic Review, 2004, 94, (3), 455-483 View citations (103)
See also Working Paper Liquidity, Efficiency and Bank Bailouts, NBER Working Papers (2002) View citations (4) (2002)
2000
- The Design of Bank Loan Contracts
The Review of Financial Studies, 2000, 13, (2), 331-64 View citations (91)
- Universal banking and the performance of German firms
Journal of Financial Economics, 2000, 58, (1-2), 29-80 View citations (195)
See also Working Paper Universal Banking and the Performance of German Firms, NBER Working Papers (1996) View citations (62) (1996)
1999
- Comment on Private Money Creation and the Suffolk Banking System
Journal of Money, Credit and Banking, 1999, 31, (3), 663-67 View citations (2)
- Corporate governance, ownership dispersion and efficiency: Empirical evidence from Austrian cooperative banking
Journal of Corporate Finance, 1999, 5, (2), 119-140 View citations (36)
- Pricing free bank notes
Journal of Monetary Economics, 1999, 44, (1), 33-64 View citations (32)
1998
- Banking in Transition Economies: Does Efficiency Require Instability?
Journal of Money, Credit and Banking, 1998, 30, (3), 621-50 View citations (27)
Also in Proceedings, 1998, (Aug), 621-655 (1998) View citations (26)
1997
- Noise Trading, Delegated Portfolio Management, and Economic Welfare
Journal of Political Economy, 1997, 105, (5), 1024-50 View citations (114)
See also Working Paper Noise Trading, Delegated Portfolio Management, and Economic Welfare, NBER Working Papers (1994) View citations (8) (1994)
- Stock Market Efficiency and Economic Efficiency: Is There a Connection?
Journal of Finance, 1997, 52, (3), 1087-1129 View citations (229)
See also Working Paper Stock Market Efficiency and Economic Efficiency: Is There a Connection?, CEPR Discussion Papers (1995) View citations (4) (1995)
1996
- Comment on Alternative Models for Clearance and Settlement: The Case of the Single European Capital Market
Journal of Money, Credit and Banking, 1996, 28, (4), 1001-03
- Reputation Formation in Early Bank Note Markets
Journal of Political Economy, 1996, 104, (2), 346-97 View citations (66)
1995
- Banks and loan sales Marketing nonmarketable assets
Journal of Monetary Economics, 1995, 35, (3), 389-411 View citations (252)
See also Working Paper Banks and Loan Sales: Marketing Non-Marketable Assets, NBER Working Papers (1990) View citations (4) (1990)
- Corporate Control, Portfolio Choice, and the Decline of Banking
Journal of Finance, 1995, 50, (5), 1377-1420 View citations (246)
See also Working Paper Corporate Control, Portfolio Choice, and the Decline of Banking, Center for Financial Institutions Working Papers (1994) View citations (4) (1994)
- Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing
Journal of Economic Theory, 1995, 67, (2), 327-369 View citations (20)
See also Working Paper Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing, NBER Working Papers (1993) View citations (1) (1993)
1994
- Arbitrage Chains
Journal of Finance, 1994, 49, (3), 819-49 View citations (91)
See also Working Paper Arbitrage Chains, CEPR Financial Markets Paper (1993) (1993)
- Bank Regulation When 'Banks' and 'Banking' Are Not the Same
Oxford Review of Economic Policy, 1994, 10, (4), 106-19 View citations (12)
- Commercial Bank Liquidity Management, Discretionary Reserve Behavior, and the Allocation of Credit, 1863–1913. By J. M. Carter. New York: Garland Publishing, 1992. Pp. v, 179. $53.00
The Journal of Economic History, 1994, 54, (1), 225-226
1993
- Security Baskets and Index-Linked Securities
The Journal of Business, 1993, 66, (1), 1-27 View citations (96)
See also Working Paper Security Baskets and Index-Linked Securities, NBER Working Papers (1991) View citations (4) (1991)
- Security market returns and the social discount rate: A note on welfare in the overlapping generations model
Economics Letters, 1993, 43, (1), 23-26 View citations (4)
- Trading, Communication and the Response of Asset Prices to News
Economic Journal, 1993, 103, (418), 639-46 View citations (17)
1992
- Stock price manipulation, market microstructure and asymmetric information
European Economic Review, 1992, 36, (2-3), 624-630 View citations (83)
See also Working Paper Stock Price Manipulation, Market Microstructure and Asymetric Information, Weiss Center Working Papers (1991) (1991)
- The opening of new markets for bank assets
Proceedings, 1992, 3-38
1991
- Overcapacity and exit from banking
Proceedings, 1991, (Nov) View citations (6)
1990
- Financial Intermediaries and Liquidity Creation
Journal of Finance, 1990, 45, (1), 49-71 View citations (484)
- Market Discipline and Bank Subordinated Debt
Journal of Money, Credit and Banking, 1990, 22, (1), 119-28 View citations (124)
1989
- Banks and loan sales: evidence of implicit contracts
Proceedings, 1989
1988
- Banking Panics and Business Cycles
Oxford Economic Papers, 1988, 40, (4), 751-81 View citations (441)
See also Working Paper Banking panics and business cycles, Working Papers (1986) View citations (1) (1986)
1987
- Assessing deregulation: Further considerations A reply to David Romer
Carnegie-Rochester Conference Series on Public Policy, 1987, 26, (1), 345-348
- Bank deregulation, credit markets, and the control of capital
Carnegie-Rochester Conference Series on Public Policy, 1987, 26, (1), 289-333 View citations (13)
See also Working Paper Bank Deregulation, Credit Markets and the Control of Capital, Rodney L. White Center for Financial Research Working Papers View citations (3)
- The Joint Production of Confidence: Endogenous Regulation and Nineteenth Century Commercial-Bank Clearinghouses
Journal of Money, Credit and Banking, 1987, 19, (4), 457-68 View citations (117)
1985
- Bank suspension of convertibility
Journal of Monetary Economics, 1985, 15, (2), 177-193 View citations (88)
- Banking theory and free banking history: A Review Essay
Journal of Monetary Economics, 1985, 16, (2), 267-276 View citations (6)
- Clearinghouses and the Origin of Central Banking in the United States
The Journal of Economic History, 1985, 45, (2), 277-283 View citations (139)
1984
- Private clearinghouses and the origins of central banking
Business Review, 1984, (Jan/Feb), 3-12 View citations (7)
1982
- Forecasting with the Index of Leading Indicators
Business Review, 1982, (Nov/Dec), 15-27 View citations (2)
Books
2010
- Slapped by the Invisible Hand: The Panic of 2007
OUP Catalogue, Oxford University Press View citations (386)
Chapters
2013
- Liquidity Mismatch Measurement
A chapter in Risk Topography: Systemic Risk and Macro Modeling, 2013, pp 99-112 View citations (23)
2011
- Risk Topography
A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 149-176 View citations (15)
2010
- Securitized Banking and the Run on Repo
A chapter in Market Institutions and Financial Market Risk, 2010 View citations (55)
See also Working Paper Securitized Banking and the Run on Repo, National Bureau of Economic Research, Inc (2009) View citations (105) (2009)
2007
- Special Purpose Vehicles and Securitization
A chapter in The Risks of Financial Institutions, 2007, pp 549-597 View citations (44)
See also Working Paper Special Purpose Vehicles and Securitization, National Bureau of Economic Research, Inc (2005) View citations (59) (2005)
2003
- Financial intermediation
Chapter 08 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 431-552 View citations (96)
See also Working Paper Financial Intermediation, Wharton School Center for Financial Institutions, University of Pennsylvania (2002) View citations (49) (2002)
1995
- Banks and Derivatives
A chapter in NBER Macroeconomics Annual 1995, Volume 10, 1995, pp 299-349 View citations (63)
See also Working Paper Banks and Derivatives, National Bureau of Economic Research, Inc (1995) View citations (63) (1995)
1991
- The Origins of Banking Panics: Models, Facts, and Bank Regulation
A chapter in Financial Markets and Financial Crises, 1991, pp 109-174 View citations (299)
See also Working Paper The Origins of Banking Panics: Models, Facts, and Bank Regulation, Wharton School Rodney L. White Center for Financial Research View citations (62)
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