Details about Arvind Krishnamurthy

Workplace:

Graduate School of Business, Stanford University, (more information at EDIRC)

Access statistics for papers by Arvind Krishnamurthy.

Last updated 2021-08-10. Update your information in the RePEc Author Service.

Short-id: pkr393

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Working Papers

2022

1. The Demand for Money, Near-Money, and Treasury Bonds
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
2. The Rest of the World’s Dollar-Weighted Return on U.S. Treasurys
   NBER Working Papers, National Bureau of Economic Research, Inc

2020

3. Corporate Debt Overhang and Credit Policy
   Research Papers, Stanford University, Graduate School of Business View citations (32)
4. Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment
   Research Papers, Stanford University, Graduate School of Business View citations (13)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (13)
5. Dollar Safety and the Global Financial Cycle
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
   Also in Research Papers, Stanford University, Graduate School of Business (2018) View citations (5)

2019

6. Foreign Safe Asset Demand and the Dollar Exchange Rate
   Research Papers, Stanford University, Graduate School of Business View citations (13)
   Also in Research Papers, Stanford University, Graduate School of Business (2018) View citations (35)
   NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (38)
   See also Journal Article in Journal of Finance (2021)

2018

7. Capital Flow Management with Multiple Instruments
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   Also in Research Papers, Stanford University, Graduate School of Business (2018) View citations (4)
   See also Chapter (2019)
8. How sustainable are rural water enterprises?: synthesis of ITP-INREM studies from six states
   Water Policy Research Highlights, International Water Management Institute
9. Intermediary Asset Pricing and the Financial Crisis
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
   See also Journal Article in Annual Review of Financial Economics (2018)
10. Mortgage Design in an Equilibrium Model of the Housing Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
    Also in 2016 Meeting Papers, Society for Economic Dynamics (2016)
    See also Journal Article in Journal of Finance (2021)

2017

11. ECB Policies Involving Government Bond Purchases: Impact and Channels
    Research Papers, Stanford University, Graduate School of Business View citations (61)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (59)
    NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (60)
12. How Credit Cycles across a Financial Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (87)
    Also in Research Papers, Stanford University, Graduate School of Business (2017) View citations (86)

2016

13. A Model of Safe Asset Determination
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    See also Journal Article in American Economic Review (2019)
14. Measuring Liquidity Mismatch in the Banking Sector
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    Also in Research Papers, Stanford University, Graduate School of Business (2015) View citations (3)
    See also Journal Article in Journal of Finance (2018)
15. What Makes US Government Bonds Safe Assets?
    Research Papers, Stanford University, Graduate School of Business View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (21)
    See also Journal Article in American Economic Review (2016)

2015

16. A Macroeconomic Framework for Quantifying Systemic Risk
    Research Papers, Stanford University, Graduate School of Business View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (62)
    Working Paper Research, National Bank of Belgium (2012) View citations (45)
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute (2015) View citations (4)
    See also Journal Article in American Economic Journal: Macroeconomics (2019)
17. A Model of the Reserve Asset
    Research Papers, Stanford University, Graduate School of Business View citations (11)
18. The Impact of Treasury Supply on Financial Sector Lending and Stability
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (87)
    Also in Research Papers, Stanford University, Graduate School of Business (2015) View citations (89)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (85)
    See also Journal Article in Journal of Financial Economics (2015)
    Chapter (2013)

2014

19. Short-Term Debt and Financial Crises: What we can learn from U.S. Treasury Supply
    2014 Meeting Papers, Society for Economic Dynamics

2013

20. Interpreting Repo Statistics in the Flow of Funds Accounts
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2012

21. Sizing Up Repo
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (30)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (43)
    See also Journal Article in Journal of Finance (2014)

2011

22. The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (885)
    See also Journal Article in Brookings Papers on Economic Activity (2011)
23. The Effects of Quantitative Easing on Long-term Interest Rates
    2011 Meeting Papers, Society for Economic Dynamics View citations (59)

2010

24. Balance Sheet Adjustments in the 2008 Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (88)

2009

25. A Model of Capital and Crises
    2009 Meeting Papers, Society for Economic Dynamics View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (35)
    See also Journal Article in Review of Economic Studies (2012)
26. Amplification Mechanisms in Liquidity Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (32)
    See also Journal Article in American Economic Journal: Macroeconomics (2010)
27. Global Imbalances and Financial Fragility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (181)
    See also Journal Article in American Economic Review (2009)
28. How Debt Markets have Malfunctioned in the Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    See also Journal Article in Journal of Economic Perspectives (2010)

2008

29. Intermediary Asset Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    See also Journal Article in American Economic Review (2013)
30. The Aggregate Demand for Treasury Debt
    2008 Meeting Papers, Society for Economic Dynamics View citations (40)
    See also Journal Article in Journal of Political Economy (2012)

2007

31. Collective Risk Management in a Flight to Quality Episode
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    See also Journal Article in Journal of Finance (2008)
32. The Demand for Treasury Debt
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (46)

2006

33. Flight to Quality and Collective Risk Management
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2005

34. Bubbles and Capital Flow Volatility: Causes and Risk Management
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article in Journal of Monetary Economics (2006)
35. Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
    MPRA Paper, University Library of Munich, Germany View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (14)
    See also Journal Article in International Journal of Central Banking (2005)
36. Financial System Risk and Flight to Quality
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
37. Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Econometric Society 2004 North American Summer Meetings, Econometric Society (2004) View citations (6)
    See also Journal Article in Journal of Finance (2007)

2004

38. Fiscal Policy and Financial Depth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (91)

2003

39. Equilibrium Asset Prices Under Imperfect Corporate Control
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
40. Inflation Targeting and Sudden Stops
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
    See also Chapter (2004)

2002

41. A Dual Liquidity Model for Emerging Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)
    See also Journal Article in American Economic Review (2002)

2001

42. A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
43. International Liquidity Illusion: On the Risks of Sterilization
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
44. Smoothing Sudden Stops
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    See also Journal Article in Journal of Economic Theory (2004)

2000

45. Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
46. International Liquidity Management: Sterilization Policy in Illiquid Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (18)
47. International and Domestic Collateral Constraints in a Model of Emerging Market Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    See also Journal Article in Journal of Monetary Economics (2001)

1999

48. Emerging Market Crises: An Asset Markets Perspective
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (30)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (59)
    IMF Working Papers, International Monetary Fund (1999) View citations (19)
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1998) View citations (69)

Journal Articles

2021

1. Foreign Safe Asset Demand and the Dollar Exchange Rate
   Journal of Finance, 2021, 76, (3), 1049-1089 View citations (36)
   See also Working Paper (2019)
2. Mortgage Design in an Equilibrium Model of the Housing Market
   Journal of Finance, 2021, 76, (1), 113-168 View citations (10)
   See also Working Paper (2018)

2019

3. A Macroeconomic Framework for Quantifying Systemic Risk
   American Economic Journal: Macroeconomics, 2019, 11, (4), 1-37 View citations (57)
   See also Working Paper (2015)
4. A Model of Safe Asset Determination
   American Economic Review, 2019, 109, (4), 1230-62 View citations (46)
   See also Working Paper (2016)

2018

5. Foreign Safe Asset Demand for US Treasurys and the Dollar
   AEA Papers and Proceedings, 2018, 108, 537-41 View citations (40)
6. How Futures Trading Changed Bitcoin Prices
   FRBSF Economic Letter, 2018 View citations (25)
7. Intermediary Asset Pricing and the Financial Crisis
   Annual Review of Financial Economics, 2018, 10, (1), 173-197 View citations (41)
   See also Working Paper (2018)
8. Measuring Liquidity Mismatch in the Banking Sector
   Journal of Finance, 2018, 73, (1), 51-93 View citations (46)
   See also Working Paper (2016)

2017

9. Commentary: Policies for Crises Prevention and Management
   International Journal of Central Banking, 2017, 13, (3), 277-285

2016

10. What Makes US Government Bonds Safe Assets?
    American Economic Review, 2016, 106, (5), 519-23 View citations (21)
    See also Working Paper (2016)

2015

11. The impact of Treasury supply on financial sector lending and stability
    Journal of Financial Economics, 2015, 118, (3), 571-600 View citations (86)
    See also Chapter (2013)
    Working Paper (2015)

2014

12. Efficient Credit Policies in a Housing Debt Crisis
    Brookings Papers on Economic Activity, 2014, 45, (2 (Fall)), 73-136 View citations (49)
13. Sizing Up Repo
    Journal of Finance, 2014, 69, (6), 2381-2417 View citations (145)
    See also Working Paper (2012)

2013

14. Comment
    NBER Macroeconomics Annual, 2013, 27, (1), 224 - 231
15. Intermediary Asset Pricing
    American Economic Review, 2013, 103, (2), 732-70 View citations (491)
    See also Working Paper (2008)
16. The ins and outs of LSAPs
    Proceedings - Economic Policy Symposium - Jackson Hole, 2013 View citations (25)

2012

17. A Model of Capital and Crises
    Review of Economic Studies, 2012, 79, (2), 735-777 View citations (171)
    See also Working Paper (2009)
18. Risk Topography
    NBER Macroeconomics Annual, 2012, 26, (1), 149 - 176 View citations (9)
    See also Chapter (2011)
19. The Aggregate Demand for Treasury Debt
    Journal of Political Economy, 2012, 120, (2), 233 - 267 View citations (652)
    See also Working Paper (2008)

2011

20. Discussion of “Precautionary Reserves and the Interbank Market”
    Journal of Money, Credit and Banking, 2011, 43, 349-353
21. Discussion of “Precautionary Reserves and the Interbank Market”
    Journal of Money, Credit and Banking, 2011, 43, (s2), 349-353
22. The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy
    Brookings Papers on Economic Activity, 2011, 42, (2 (Fall)), 215-287 View citations (977)
    See also Working Paper (2011)

2010

23. Amplification Mechanisms in Liquidity Crises
    American Economic Journal: Macroeconomics, 2010, 2, (3), 1-30 View citations (75)
    See also Working Paper (2009)
24. Balance Sheet Adjustments during the 2008 Crisis
    IMF Economic Review, 2010, 58, (1), 118-156 View citations (98)
25. How Debt Markets Have Malfunctioned in the Crisis
    Journal of Economic Perspectives, 2010, 24, (1), 3-28 View citations (130)
    See also Working Paper (2009)

2009

26. Global Imbalances and Financial Fragility
    American Economic Review, 2009, 99, (2), 584-88 View citations (177)
    See also Working Paper (2009)

2008

27. Collective Risk Management in a Flight to Quality Episode
    Journal of Finance, 2008, 63, (5), 2195-2230 View citations (388)
    See also Working Paper (2007)
28. Musical chairs: a comment on the credit crisis
    Financial Stability Review, 2008, (11), 9-11 View citations (8)

2007

29. Limits of Arbitrage: Theory and Evidence from the Mortgage‐Backed Securities Market
    Journal of Finance, 2007, 62, (2), 557-595 View citations (139)
    See also Working Paper (2005)

2006

30. Bubbles and capital flow volatility: Causes and risk management
    Journal of Monetary Economics, 2006, 53, (1), 35-53 View citations (215)
    See also Working Paper (2005)
31. Financial innovation, macroeconomic stability and systemic crises - comments
    Proceedings, 2006, (Nov)

2005

32. Equilibrium Investment and Asset Prices under Imperfect Corporate Control
    American Economic Review, 2005, 95, (3), 659-681 View citations (34)
33. Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
    International Journal of Central Banking, 2005, 1, (1) View citations (24)
    See also Working Paper (2005)

2004

34. Regulating Exclusion from Financial Markets
    Review of Economic Studies, 2004, 71, (3), 681-707 View citations (29)
35. Smoothing sudden stops
    Journal of Economic Theory, 2004, 119, (1), 104-127 View citations (78)
    See also Working Paper (2001)

2003

36. Collateral constraints and the amplification mechanism
    Journal of Economic Theory, 2003, 111, (2), 277-292 View citations (100)
37. Excessive Dollar Debt: Financial Development and Underinsurance
    Journal of Finance, 2003, 58, (2), 867-893 View citations (201)

2002

38. A Dual Liquidity Model for Emerging Markets
    American Economic Review, 2002, 92, (2), 33-37 View citations (38)
    See also Working Paper (2002)
39. The bond/old-bond spread
    Journal of Financial Economics, 2002, 66, (2-3), 463-506 View citations (57)

2001

40. International and domestic collateral constraints in a model of emerging market crises
    Journal of Monetary Economics, 2001, 48, (3), 513-548 View citations (495)
    See also Working Paper (2000)

2000

41. Comment on Systemic Risk, Interbank Relations, and Liquidity Provision by the Central Bank
    Journal of Money, Credit and Banking, 2000, 32, (3), 639-40 View citations (12)

Books

2014

1. Risk Topography: Systemic Risk and Macro Modeling
   NBER Books, National Bureau of Economic Research, Inc View citations (50)

Edited books

2014

1. Risk Topography
   National Bureau of Economic Research Books, University of Chicago Press

Chapters

2019

1. Capital Flow Management with Multiple Instruments
   Chapter 06 in Monetary Policy and Financial Stability: Transmission Mechanisms and Policy Implications, 2019, vol. 26, pp 169-203 View citations (3)
   See also Working Paper (2018)

2018

2. The Balance Sheet
   Chapter 1 in The Structural Foundations of Monetary Policy, 2018 View citations (5)

2013

3. Introduction to "Risk Topography: Systemic Risk and Macro Modeling"
   A chapter in Risk Topography: Systemic Risk and Macro Modeling, 2013, pp 1-12 View citations (3)
4. Liquidity Mismatch Measurement
   A chapter in Risk Topography: Systemic Risk and Macro Modeling, 2013, pp 99-112 View citations (20)
5. The Impact of Treasury Supply on Financial Sector Lending and Stability
   A chapter in New Perspectives on Corporate Capital Structure, 2013
   See also Journal Article in Journal of Financial Economics (2015)
   Working Paper (2015)

2012

6. Comment on "Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007 to 2009"
   A chapter in NBER Macroeconomics Annual 2012, Volume 27, 2012, pp 224-231

2011

7. Risk Topography
   A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 149-176 View citations (15)
   See also Journal Article in NBER Macroeconomics Annual (2012)

2004

8. Inflation Targeting and Sudden Stops
   A chapter in The Inflation-Targeting Debate, 2004, pp 423-442 View citations (11)
   See also Working Paper (2003)