Who Ran on Repo?

Gary B. Gorton, Andrew Metrick and Chase Ross

AEA Papers and Proceedings, 2020, vol. 110, 487-92

Abstract: The sale and repurchase (repo) market played a central role in the recent financial crisis. From the second quarter of 2007 to the first quarter of 2009, net repo financing provided to US banks and broker-dealers fell by about $900 billion—more than half of its pre-crisis total. Significant details of this "run on repo" remain shrouded because many of the providers of repo finance are lightly regulated or unregulated cash pools. Our analysis highlights the danger of relying exclusively on data from regulated institutions, which would miss the most important parts of the run.

JEL-codes: G01 G21 G24 G28 (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://www.aeaweb.org/doi/10.1257/pandp.20201100 (application/pdf)
http://doi.org/10.3886/E116822V1 (text/html)
https://www.aeaweb.org/doi/10.1257/pandp.20201100.appx (application/pdf)
https://www.aeaweb.org/doi/10.1257/pandp.20201100.ds (application/zip)
Access to full text is restricted to AEA members and institutional subscribers.

Related works:
Working Paper: Who Ran on Repo? (2012)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aea:apandp:v:110:y:2020:p:487-92

Ordering information: This journal article can be ordered from
https://www.aeaweb.org/subscribe.html

DOI: 10.1257/pandp.20201100

Access Statistics for this article

AEA Papers and Proceedings is currently edited by William Johnson and Kelly Markel

More articles in AEA Papers and Proceedings from American Economic Association Contact information at EDIRC.
Bibliographic data for series maintained by Michael P. Albert ().