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Gary B. Gorton

Yale School of Management

165 Whitney Ave

P.O. Box 208200

New haven, CT 06511

United States

http://mba.yale.edu/faculty/profiles/gorton.shtml

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Yale School of Management

SCHOLARLY PAPERS

83

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Rank 31

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Top 31

in Total Papers Downloads

142,033

CITATIONS
Rank 137

SSRN RANKINGS

Top 137

in Total Papers Citations

2,150

Scholarly Papers (83)

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1.

Facts and Fantasies about Commodity Futures

Downloads 27,217 ( 46)
Citation 111

Facts and Fantasies about Commodity Futures

Yale ICF Working Paper No. 04-20
Number of pages: 41 Posted: 29 Jun 2004
Gary B. Gorton and K. Geert Rouwenhorst
Yale School of Management and Yale School of Management - International Center for Finance
Downloads 26,550 (47)
Citation 111

Abstract:

Facts and Fantasies About Commodity Futures

NBER Working Paper No. w10595
Number of pages: 41 Posted: 25 May 2006
Gary B. Gorton and K. Geert Rouwenhorst
Yale School of Management and Yale School of Management - International Center for Finance
Downloads 667 (30,024)
Citation 111

Abstract:

Facts and Fantasies about Commodity Futures

Financial Analysts Journal, Vol. 62, No. 2, pp. 47-68, April 2006
Posted: 23 May 2006
Gary B. Gorton and K. Geert Rouwenhorst
Yale School of Management and Yale School of Management - International Center for Finance

Abstract:

Derivative Instruments, Commodity Derivatives, Alternative Investments, Commodities, Portfolio Management, Asset Allocation

2.

The Fundamentals of Commodity Futures Returns

Downloads 13,407 ( 182)
Citation 52

The Fundamentals of Commodity Futures Returns

Yale ICF Working Paper No. 07-08
Number of pages: 62 Posted: 28 Jun 2007 Last Revised: 07 Feb 2012
Gary B. Gorton, Fumio Hayashi and K. Geert Rouwenhorst
Yale School of Management, National Graduate Institute for Policy Studies and Yale School of Management - International Center for Finance
Downloads 13,174 (181)
Citation 52

Abstract:

Commodity, Futures, Theory of Storage, Inventories, Backwardation, Hedging Pressure, Futures Trading

The Fundamentals of Commodity Futures Returns

NBER Working Paper No. w13249
Number of pages: 63 Posted: 13 Jul 2007
Gary B. Gorton, Fumio Hayashi and K. Geert Rouwenhorst
Yale School of Management, National Graduate Institute for Policy Studies and Yale School of Management - International Center for Finance
Downloads 233 (106,913)
Citation 52

Abstract:

3.

Securitized Banking and the Run on Repo

Downloads 11,044 ( 243)
Citation 159

Securitized Banking and the Run on Repo

Yale ICF Working Paper No. 09-14
Number of pages: 65 Posted: 30 Jul 2009 Last Revised: 12 Nov 2013
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 10,752 (257)
Citation 159

Abstract:

repo, securitized

Securitized Banking and the Run on Repo

NBER Working Paper No. w15223
Number of pages: 54 Posted: 18 Aug 2009
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 292 (83,888)
Citation 159

Abstract:

4.

Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007

Number of pages: 53 Posted: 18 May 2009
Gary B. Gorton
Yale School of Management
Downloads 10,075 (246)
Citation 67

Abstract:

financial crisis, banking panic, Panic of 2007, repo markets

5.

Regulating the Shadow Banking System

Number of pages: 41 Posted: 15 Sep 2010 Last Revised: 12 Nov 2010
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 8,332 (362)
Citation 25

Abstract:

Shadow Banking, Financial Crisis, Bank Regulation

6.

Special Purpose Vehicles and Securitization

Downloads 6,373 ( 715)
Citation 69

Special Purpose Vehicles and Securitization

FRB Philadelphia Working Paper No. 05-21
Number of pages: 63 Posted: 04 May 2005 Last Revised: 13 Dec 2011
Gary B. Gorton and Nicholas S. Souleles
Yale School of Management and University of Pennsylvania - Finance Department
Downloads 6,111 (757)
Citation 69

Abstract:

Securitization, Special Purpose Vehicles, Bankruptcy, Consumer Credit, Credit Cards

Special Purpose Vehicles and Securitization

NBER Working Paper No. w11190
Number of pages: 64 Posted: 08 Apr 2005
Gary B. Gorton and Nicholas S. Souleles
Yale School of Management and University of Pennsylvania - Finance Department
Downloads 262 (94,535)
Citation 69

Abstract:

7.

The Subprime Panic

Downloads 5,956 ( 812)
Citation 53

The Subprime Panic

Yale ICF Working Paper No. 08-25
Number of pages: 40 Posted: 01 Oct 2008
Gary B. Gorton
Yale School of Management
Downloads 5,654 (873)
Citation 53

Abstract:

Banking panic, securitization, off-balance sheet vehicles, ABX index

The Subprime Panic

NBER Working Paper No. w14398
Number of pages: 40 Posted: 10 Oct 2008
Gary B. Gorton
Yale School of Management
Downloads 295 (82,902)
Citation 53

Abstract:

The Subprime Panic

European Financial Management, Vol. 15, No. 1, pp. 10-46, January 2009
Number of pages: 37 Posted: 02 Jan 2009
Gary B. Gorton
Yale School of Management
Downloads 7 (529,551)
Citation 53

Abstract:

8.

The Panic of 2007

Downloads 4,673 ( 1,251)
Citation 213

The Panic of 2007

Yale ICF Working Paper No. 08-24
Number of pages: 92 Posted: 26 Aug 2008
Gary B. Gorton
Yale School of Management
Downloads 4,438 (1,326)
Citation 213

Abstract:

Panic, Capital Markets

The Panic of 2007

NBER Working Paper No. w14358
Number of pages: 93 Posted: 23 Sep 2008
Gary B. Gorton
Yale School of Management
Downloads 235 (105,983)
Citation 213

Abstract:

9.

Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide

Downloads 4,658 ( 1,260)
Citation 42

Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide

Number of pages: 33 Posted: 19 Dec 2011 Last Revised: 11 Jan 2012
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 4,307 (1,396)
Citation 2

Abstract:

Financial Crisis

Getting Up to Speed on the Financial Crisis: a One-Weekend-Reader's Guide

NBER Working Paper No. w17778
Number of pages: 34 Posted: 21 Jan 2012
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 351 (67,899)
Citation 42

Abstract:

10.

Haircuts

Downloads 4,465 ( 1,341)
Citation 42

Haircuts

Yale ICF Working Paper No. 09-15
Number of pages: 18 Posted: 11 Aug 2009 Last Revised: 17 May 2010
Andrew Metrick and Gary B. Gorton
Yale School of Management and Yale School of Management
Downloads 4,334 (1,384)
Citation 42

Abstract:

Haircuts

NBER Working Paper No. w15273
Number of pages: 17 Posted: 25 Aug 2009
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 131 (180,716)
Citation 42

Abstract:

11.

Information, Liquidity, and the (Ongoing) Panic of 2007

Downloads 4,319 ( 1,410)
Citation 43

Information, Liquidity, and the (Ongoing) Panic of 2007

Number of pages: 13 Posted: 10 Jan 2009
Gary B. Gorton
Yale School of Management
Downloads 4,170 (1,472)
Citation 43

Abstract:

Credit Crisis, Panicof 2007, ABX Index, Repo market

Information, Liquidity, and the (Ongoing) Panic of 2007

NBER Working Paper No. w14649
Number of pages: 14 Posted: 19 Jan 2009
Gary B. Gorton
Yale School of Management
Downloads 149 (162,540)
Citation 43

Abstract:

12.

Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors

Downloads 3,688 ( 1,879)
Citation 8

Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors

Yale ICF Working Paper No. 08-21
Number of pages: 42 Posted: 08 Oct 2008 Last Revised: 17 Aug 2013
Geetesh Bhardwaj, Gary B. Gorton and K. Geert Rouwenhorst
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 3,618 (1,899)
Citation 8

Abstract:

Commodity Trading Advisors, CTA, Hedge Funds, Performance Measurement

Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors

NBER Working Paper No. w14424
Number of pages: 37 Posted: 23 Oct 2008
Geetesh Bhardwaj, Gary B. Gorton and K. Geert Rouwenhorst
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 70 (277,342)
Citation 8

Abstract:

13.

Facts and Fantasies About Commodity Futures Ten Years Later

Downloads 3,139 ( 2,493)
Citation 2

Facts and Fantasies About Commodity Futures Ten Years Later

Number of pages: 31 Posted: 27 May 2015
Geetesh Bhardwaj, Gary B. Gorton and K. Geert Rouwenhorst
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 3,128 (2,446)
Citation 2

Abstract:

Futures Trading, Contango, Backwardation, Basis, Speculators, Hedgers, Risk Premium, Financialization, Time-varying Correlations

Facts and Fantasies About Commodity Futures Ten Years Later

NBER Working Paper No. w21243
Number of pages: 31 Posted: 08 Jun 2015
Geetesh Bhardwaj, Gary B. Gorton and K. Geert Rouwenhorst
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 11 (507,951)
Citation 2

Abstract:

14.

Eat or Be Eaten: A Theory of Mergers and Firm Size

Downloads 3,040 ( 2,650)
Citation 43

Eat or Be Eaten: A Theory of Mergers and Firm Size

Number of pages: 85 Posted: 04 May 2005 Last Revised: 25 Feb 2009
Gary B. Gorton, Matthias Kahl and Richard J. Rosen
Yale School of Management, University of Colorado at Boulder - Leeds School of Business and Federal Reserve Bank of Chicago - Economic Research
Downloads 2,896 (2,837)
Citation 42

Abstract:

Mergers, Merger Waves

Eat or Be Eaten: A Theory of Mergers and Merger Waves

NBER Working Paper No. w11364
Number of pages: 66 Posted: 24 Jun 2005
Gary B. Gorton, Matthias Kahl and Richard J. Rosen
Yale School of Management, University of Colorado at Boulder - Leeds School of Business and Federal Reserve Bank of Chicago - Economic Research
Downloads 144 (167,349)
Citation 43

Abstract:

15.

Questions and Answers About the Financial Crisis - Prepared for the U.S. Financial Crisis Inquiry Commission

Downloads 2,320 ( 4,222)
Citation 22

Questions and Answers About the Financial Crisis - Prepared for the U.S. Financial Crisis Inquiry Commission

Number of pages: 17 Posted: 23 Feb 2010 Last Revised: 16 Mar 2010
Gary B. Gorton
Yale School of Management
Downloads 2,195 (4,552)
Citation 22

Abstract:

Questions and Answers About the Financial Crisis

NBER Working Paper No. w15787
Number of pages: 18 Posted: 01 Mar 2010
Gary B. Gorton
Yale School of Management
Downloads 125 (187,506)
Citation 14

Abstract:

16.

Liquidity Provision, Bank Capital, and the Macroeconomy

Number of pages: 63 Posted: 13 Dec 2000 Last Revised: 24 Sep 2016
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 2,028 (3,759)
Citation 31

Abstract:

Bank Capital, Liquidity

17.

SEC Regulation Fair Disclosure, Information, and the Cost of Capital

Downloads 1,888 ( 6,026)
Citation 40

SEC Regulation Fair Disclosure, Information, and the Cost of Capital

Journal of Corporate Finance, Vol. 13, Nos. 2-3, pp. 300-334, 2007, AFA 2005 Philadelphia Meetings
Number of pages: 43 Posted: 15 Apr 2004
Armando R. Gomes, Gary B. Gorton and Leonardo Madureira
Washington University in Saint Louis - John M. Olin Business School, Yale School of Management and Case Western Reserve University - Weatherhead School of Management
Downloads 1,795 (6,451)
Citation 40

Abstract:

Disclosure, Regulation, Capital Markets, Cost of Capital, Regulation Fair Disclosure, Reg FD, Information Production

Sec Regulation Fair Disclosure, Information, and the Cost of Capital

NBER Working Paper No. w10567
Number of pages: 78 Posted: 04 Jul 2004
Armando R. Gomes, Gary B. Gorton and Leonardo Madureira
Washington University in Saint Louis - John M. Olin Business School, Yale School of Management and Case Western Reserve University - Weatherhead School of Management
Downloads 93 (232,612)
Citation 40

Abstract:

18.

Securitization

Downloads 1,762 ( 6,817)
Citation 3

Securitization

Number of pages: 96 Posted: 15 Aug 2011 Last Revised: 18 Nov 2011
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 1,697 (7,166)
Citation 3

Abstract:

Securitization, banking, capital markets

Securitization

NBER Working Paper No. w18611
Number of pages: 96 Posted: 15 Dec 2012
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 65 (289,002)
Citation 3

Abstract:

19.

A Note on Erb and Harvey (2005)

Yale ICF Working Paper No. 06-02
Number of pages: 10 Posted: 12 Dec 2005
Gary B. Gorton and K. Geert Rouwenhorst
Yale School of Management and Yale School of Management - International Center for Finance
Downloads 1,508 (8,452)
Citation 2

Abstract:

Commodity, commodities, futures, diversification

20.

Bank Credit Cycles

Downloads 1,432 ( 9,639)
Citation 30

Bank Credit Cycles

Number of pages: 41 Posted: 09 May 2005 Last Revised: 11 Jan 2009
Gary B. Gorton and Ping He
Yale School of Management and Tsinghua University, SEM
Downloads 1,367 (10,192)
Citation 30

Abstract:

credit cycles, credit crunches

Bank Credit Cycles

NBER Working Paper No. w11363
Number of pages: 47 Posted: 23 Jun 2005
Gary B. Gorton and Ping He
Yale School of Management and Tsinghua University, SEM
Downloads 65 (289,002)
Citation 30

Abstract:

21.

Noise Traders

Downloads 1,304 ( 11,217)
Citation 5

Noise Traders

Number of pages: 9 Posted: 17 May 2006
Gary B. Gorton and James Dow
Yale School of Management and London Business School - Institute of Finance and Accounting
Downloads 1,159 (13,271)
Citation 5

Abstract:

Noise Traders, Financial Markets, Market Efficiency

Noise Traders

NBER Working Paper No. w12256
Number of pages: 10 Posted: 01 Jun 2006
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 145 (166,374)
Citation 5

Abstract:

22.

Commodity Futures: A Japanese Perspective

Downloads 1,220 ( 12,470)

Commodity Futures: A Japanese Perspective

Yale ICF Working Paper No. 05-27
Number of pages: 25 Posted: 03 Nov 2005
Gary B. Gorton, Fumio Hayashi and K. Geert Rouwenhorst
Yale School of Management, National Graduate Institute for Policy Studies and Yale School of Management - International Center for Finance
Downloads 686 (28,855)

Abstract:

commodities, futures, commodity, index, diversification

Commodity Futures: A Japanese Perspective

Yale ICF Working Paper No. 05-27
Number of pages: 24 Posted: 15 Aug 2006
Gary B. Gorton, Fumio Hayashi and K. Geert Rouwenhorst
Yale School of Management, National Graduate Institute for Policy Studies and Yale School of Management - International Center for Finance
Downloads 534 (40,412)

Abstract:

commodity futures

23.

The Financial Crisis of 2007-2009

THE HANDBOOK OF MAJOR EVENTS IN ECONOMIC HISTORY, R. Whaples & R. Parker, eds., Routledge, Forthcoming
Number of pages: 16 Posted: 12 Feb 2012 Last Revised: 19 Apr 2012
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 1,074 (10,777)
Citation 2

Abstract:

Financial Crisis

24.

The History and Economics of Safe Assets

Downloads 939 ( 18,702)

The History and Economics of Safe Assets

Number of pages: 58 Posted: 27 Apr 2016 Last Revised: 02 Sep 2016
Gary B. Gorton
Yale School of Management
Downloads 908 (19,286)

Abstract:

The History and Economics of Safe Assets

NBER Working Paper No. w22210
Number of pages: 55 Posted: 02 May 2016
Gary B. Gorton
Yale School of Management
Downloads 31 (398,262)

Abstract:

25.

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover

Downloads 755 ( 25,682)
Citation 5

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover

Number of pages: 49 Posted: 27 Apr 2009 Last Revised: 07 Mar 2013
Lixin Huang, Qiang Kang and Gary B. Gorton
Georgia State University, Florida International University (FIU) - Department of Finance and Yale School of Management
Downloads 700 (28,128)
Citation 5

Abstract:

Stock market efficiency, economic efficiency, CEO turnover,

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover

NBER Working Paper No. w14944
Number of pages: 55 Posted: 12 May 2009
Gary B. Gorton, Lixin Huang and Qiang Kang
Yale School of Management, Georgia State University and Florida International University (FIU) - Department of Finance
Downloads 55 (314,828)
Citation 5

Abstract:

26.

Agency-Based Asset Pricing

Downloads 754 ( 25,682)
Citation 3

Agency-Based Asset Pricing

Number of pages: 49 Posted: 21 Feb 2006 Last Revised: 07 Nov 2011
Gary B. Gorton, Ping He and Lixin Huang
Yale School of Management, Tsinghua University, SEM and Georgia State University
Downloads 716 (27,195)
Citation 3

Abstract:

Agency Problem, Corporate Governance, Asset Pricing, Price Formation

Agency-Based Asset Pricing

NBER Working Paper No. w12084
Number of pages: 49 Posted: 11 May 2006
Gary B. Gorton and Ping He
Yale School of Management and Tsinghua University, SEM
Downloads 38 (369,947)
Citation 3

Abstract:

27.

Security Price Informativeness with Delegated Traders

Number of pages: 45 Posted: 03 Feb 2006 Last Revised: 03 Feb 2009
Gary B. Gorton, Ping He and Lixin Huang
Yale School of Management, Tsinghua University, SEM and Georgia State University
Downloads 694 (27,181)
Citation 1

Abstract:

agency problem, mark to market, market efficiency

28.

Risk Topography

Number of pages: 31 Posted: 30 Apr 2011 Last Revised: 07 Jun 2011
Markus K. Brunnermeier, Gary B. Gorton and Arvind Krishnamurthy
Princeton University - Department of Economics, Yale School of Management and Northwestern University - Kellogg School of Management
Downloads 659 (28,185)
Citation 4

Abstract:

Measurement, Systemic Risk, Liquidity

29.

The Safe-Asset Share

Downloads 604 ( 34,836)
Citation 8

The Safe-Asset Share

Number of pages: 16 Posted: 18 Jan 2012 Last Revised: 12 Mar 2015
Gary B. Gorton, Stefan Lewellen and Andrew Metrick
Yale School of Management, London Business School and Yale School of Management
Downloads 531 (40,703)
Citation 8

Abstract:

Safe Assets, Money, Shadow Banking

The Safe-Asset Share

NBER Working Paper No. w17777
Number of pages: 17 Posted: 21 Jan 2012
Gary B. Gorton, Stefan Lewellen and Andrew Metrick
Yale School of Management, London Business School and Yale School of Management
Downloads 73 (270,661)
Citation 8

Abstract:

30.

Blockholder Scarcity, Takeovers, and Ownership Structures

Number of pages: 61 Posted: 13 Sep 2005
Matthias Kahl and Gary B. Gorton
University of Colorado at Boulder - Leeds School of Business and Yale School of Management
Downloads 589 (35,752)
Citation 12

Abstract:

Blockholders, Takeovers, Corporate Ownership Structures

31.

Bank Panics and the Endogeneity of Central Banking

Downloads 543 ( 40,095)
Citation 18

Bank Panics and the Endogeneity of Central Banking

Number of pages: 49 Posted: 28 Aug 2005
Gary B. Gorton and Lixin Huang
Yale School of Management and Georgia State University
Downloads 508 (43,128)
Citation 18

Abstract:

Banking Panics, Clearinghouses, Central Banking

Bank Panics and the Endogeneity of Central Banking

NBER Working Paper No. w9102
Number of pages: 50 Posted: 16 Aug 2002
Gary B. Gorton and Lixin Huang
Yale School of Management and Georgia State University
Downloads 35 (381,438)
Citation 18

Abstract:

32.

Book Review: The Big Short Shrift

Journal of Economic Literature, June 2011
Number of pages: 5 Posted: 25 Feb 2011
Gary B. Gorton
Yale School of Management
Downloads 500 (40,003)
Citation 1

Abstract:

Financial Crisis

33.

Executive Compensation and the Boundary of the Firm: The Case of Short-Lived Projects

Rodney L. White Center Working Paper No. 1-98
Number of pages: 38 Posted: 01 May 1998
Gary B. Gorton and Bruce D. Grundy
Yale School of Management and University of Melbourne
Downloads 476 (47,402)

Abstract:

34.

Firms Markets and Efficiency

Number of pages: 30 Posted: 20 Jul 2002
Eitan Goldman and Gary B. Gorton
Indiana University - Kelley School of Business - Department of Finance and Yale School of Management
Downloads 458 (49,442)

Abstract:

theory of the firm, information, coordination

35.

Financial Intermediation

NBER Working Paper No. w8928
Number of pages: 140 Posted: 09 May 2002
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 455 (47,273)
Citation 92

Abstract:

36.

Who Ran on Repo?

Downloads 431 ( 53,554)
Citation 2

Who Ran on Repo?

Number of pages: 20 Posted: 05 Oct 2012 Last Revised: 02 Oct 2015
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 390 (59,884)
Citation 2

Abstract:

Financial Crisis, Sale and Repurchase Agreements

Who Ran on Repo?

NBER Working Paper No. w18455
Number of pages: 20 Posted: 13 Oct 2012
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 41 (359,057)
Citation 2

Abstract:

37.

The Flight from Maturity

Downloads 330 ( 73,595)
Citation 2

The Flight from Maturity

Number of pages: 42 Posted: 25 Mar 2014 Last Revised: 06 Jun 2015
Gary B. Gorton, Andrew Metrick and Lei Xie
Yale School of Management, Yale School of Management and AQR Capital Management, LLC
Downloads 306 (79,478)
Citation 2

Abstract:

financial crises

The Flight from Maturity

NBER Working Paper No. w20027
Number of pages: 82 Posted: 14 Apr 2014
Gary B. Gorton, Andrew Metrick and Lei Xie
Yale School of Management, Yale School of Management and AQR Capital Management, LLC
Downloads 24 (433,148)
Citation 2

Abstract:

38.

Collateral Crises

Downloads 319 ( 76,404)
Citation 9

Collateral Crises

Number of pages: 52 Posted: 14 Jan 2012 Last Revised: 18 Mar 2013
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 287 (85,537)
Citation 9

Abstract:

Financial Crises, Financial Fragility, Short-term debt, Credit Booms

Collateral Crises

NBER Working Paper No. w17771
Number of pages: 46 Posted: 21 Jan 2012
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 32 (393,842)
Citation 9

Abstract:

39.

Liquidity Mismatch Measurement

Number of pages: 23 Posted: 19 Dec 2014
Markus K. Brunnermeier, Arvind Krishnamurthy and Gary B. Gorton
Princeton University - Department of Economics, Northwestern University - Kellogg School of Management and Yale School of Management
Downloads 304 (80,560)
Citation 1

Abstract:

Liquidity, liquidity mismatch

40.

Some Reflections on the Recent Financial Crisis

Downloads 287 ( 85,996)

Some Reflections on the Recent Financial Crisis

Trade, Globalization and Development: Essays in Honor of Kalyan Sanyal, Sugata Marjit and Rajat Acharya, eds., Springer Verlag, Forthcoming
Number of pages: 33 Posted: 29 Aug 2012 Last Revised: 12 Dec 2012
Gary B. Gorton
Yale School of Management
Downloads 276 (89,345)

Abstract:

Financial crisis, Bank runs, Shot-term bank debt

Some Reflections on the Recent Financial Crisis

NBER Working Paper No. w18397
Number of pages: 34 Posted: 15 Sep 2012
Gary B. Gorton
Yale School of Management
Downloads 11 (507,951)

Abstract:

41.

The Federal Reserve and Financial Regulation: The First Hundred Years

Downloads 278 ( 89,069)

The Federal Reserve and Financial Regulation: The First Hundred Years

Number of pages: 33 Posted: 30 Jul 2013
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 234 (106,448)

Abstract:

Federal Reserve, financial regulation, central banking

The Federal Reserve and Financial Regulation: The First Hundred Years

NBER Working Paper No. w19292
Number of pages: 34 Posted: 10 Aug 2013
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 44 (348,867)

Abstract:

42.

Mobile Collateral Versus Immobile Collateral

Downloads 244 (102,852)

Mobile Collateral Versus Immobile Collateral

Number of pages: 55 Posted: 03 Aug 2015
Gary B. Gorton and Tyler Muir
Yale School of Management and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 189 (131,889)

Abstract:

Mobile Collateral Versus Immobile Collateral

BIS Working Paper No. 561
Number of pages: 56 Posted: 07 Jun 2016
Gary B. Gorton and Tyler Muir
Yale School of Management and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 45 (345,514)

Abstract:

Liquidity regulation, collateral, policy evaluation with economic history

Mobile Collateral Versus Immobile Collateral

NBER Working Paper No. w22619
Number of pages: 55 Posted: 12 Sep 2016
Gary B. Gorton and Tyler Muir
Yale School of Management and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 10 (513,503)

Abstract:

43.

Good Booms, Bad Booms

Downloads 241 (103,693)

Good Booms, Bad Booms

Number of pages: 66 Posted: 20 Feb 2014 Last Revised: 07 Sep 2016
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 221 (112,708)

Abstract:

Financial Crises, Credit Booms, Productivity

Good Booms, Bad Booms

NBER Working Paper No. w22008
Number of pages: 58 Posted: 22 Feb 2016
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 20 (456,040)

Abstract:

44.

The Supply and Demand for Safe Assets

Downloads 238 (105,041)
Citation 1

The Supply and Demand for Safe Assets

Number of pages: 29 Posted: 19 Jan 2013 Last Revised: 17 Aug 2013
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 224 (111,241)
Citation 1

Abstract:

safe assets, Ricardian equivalence, financial crises

The Supply and Demand for Safe Assets

NBER Working Paper No. w18732
Number of pages: 29 Posted: 26 Jan 2013
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 14 (490,791)
Citation 1

Abstract:

45.

Stock Price Manipulation, Market Microstructure and Asymmetric Information

NBER Working Paper No. w3862
Number of pages: 13 Posted: 04 Jul 2004
Franklin Allen and Gary B. Gorton
Imperial College London and Yale School of Management
Downloads 217 (115,250)
Citation 35

Abstract:

46.

Stress for Success: A Review of Timothy Geithner's Financial Crisis Memoir

Journal of Economic Literature, Forthcoming
Number of pages: 28 Posted: 27 Aug 2014
Gary B. Gorton
Yale School of Management
Downloads 212 (91,668)

Abstract:

Financial Crisis

47.

Too-Big-to-Fail Before the Fed

Downloads 194 (128,214)

Too-Big-to-Fail Before the Fed

Number of pages: 12 Posted: 02 Mar 2016
Gary B. Gorton and Ellis W. Tallman
Yale School of Management and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 158 (154,408)

Abstract:

Financial Crisis, Bank bailouts

Too-Big-To-Fail Before the Fed

FRB of Cleveland Working Paper No. 16-12
Number of pages: 14 Posted: 30 May 2016
Gary B. Gorton and Ellis W. Tallman
Yale School of Management and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 25 (427,691)

Abstract:

financial crisis, bank runs, banking panic, clearing house, bank-specific information, currency premium

Too-Big-To-Fail Before the Fed

NBER Working Paper No. w22064
Number of pages: 13 Posted: 07 Mar 2016
Gary B. Gorton and Ellis W. Tallman
Yale School of Management and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 11 (507,951)

Abstract:

48.

Banks and Derivatives

Downloads 181 (136,879)

Banks and Derivatives

NBER Working Paper No. w5100
Number of pages: 49 Posted: 13 Jul 2000
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 181 (136,780)
Citation 15

Abstract:

Banks and Derivatives

Rodney L. White Center for Financial Research Working Paper No. 6-95
Posted: 22 Aug 1998
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research

Abstract:

49.

An Econometric Chronology of the Financial Crisis of 2007-2008

Number of pages: 38 Posted: 06 Jun 2015
Gary B. Gorton, Andrew Metrick and Lei Xie
Yale School of Management, Yale School of Management and AQR Capital Management, LLC
Downloads 162 (51,812)

Abstract:

Financial Crisis

50.

Banks and Loan Sales: Marketing Non-Marketable Assets

NBER Working Paper No. w3551
Number of pages: 42 Posted: 27 Apr 2000
Gary B. Gorton and George Pennacchi
Yale School of Management and University of Illinois
Downloads 159 (143,986)
Citation 131

Abstract:

51.

The Development of Opacity in U.S. Banking

Downloads 157 (155,102)

The Development of Opacity in U.S. Banking

Number of pages: 24 Posted: 10 Oct 2013
Gary B. Gorton
Yale School of Management
Downloads 140 (171,204)

Abstract:

Banking, Opacity

The Development of Opacity in U.S. Banking

NBER Working Paper No. w19540
Number of pages: 25 Posted: 18 Oct 2013
Gary B. Gorton
Yale School of Management
Downloads 17 (473,435)

Abstract:

52.

How Central Banks End Crises

PIER Working Paper No. 14-025
Number of pages: 38 Posted: 03 Sep 2014 Last Revised: 06 Dec 2014
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 151 (101,959)

Abstract:

Central Bank, Discount Window, Financial Crisis, Confidence

53.

Banking Panics and the Origin of Central Banking

NBER Working Paper No. w9137
Number of pages: 44 Posted: 15 Sep 2002
Gary B. Gorton and Lixin Huang
Yale School of Management and Georgia State University
Downloads 150 (143,986)
Citation 36

Abstract:

54.

Banks as Secret Keepers

PIER Working Paper
Number of pages: 52 Posted: 19 Jun 2014 Last Revised: 23 Mar 2016
Tri Vi Dang, Gary B. Gorton, Bengt R. Holmström and Guillermo L. Ordoñez
Columbia University - Department of Economics, Yale School of Management, Massachusetts Institute of Technology (MIT) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 138 (101,128)
Citation 2

Abstract:

Banks vs. Capital Markets, Financial Intermediation, Information and Opacity, Optimal Portfolio, Private Money

55.

Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers

NBER Working Paper No. w7123
Number of pages: 62 Posted: 01 Jun 2006
Matthias Kahl and Gary B. Gorton
University of Colorado at Boulder - Leeds School of Business and Yale School of Management
Downloads 136 (155,919)
Citation 15

Abstract:

56.

Stock Market Efficiency and Economic Efficiency: Is There a Connection?

Downloads 132 (179,022)

Stock Market Efficiency and Economic Efficiency: Is There a Connection?

NBER Working Paper No. w5233
Number of pages: 49 Posted: 01 Jul 2000
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 132 (179,559)
Citation 93

Abstract:

Stock Market Efficiency and Economic Efficiency: Is There a Connection?

Rodney L. White Center for Financial Research Working Paper #16-95
Posted: 14 Sep 1999
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management

Abstract:

57.

Liquidity, Efficiency and Bank Bailouts

NBER Working Paper No. w9158
Number of pages: 45 Posted: 15 Sep 2002
Gary B. Gorton and Lixin Huang
Yale School of Management and Georgia State University
Downloads 117 (196,498)
Citation 46

Abstract:

58.

Class Struggle Inside the Firm: A Study of German Codetermination

NBER Working Paper No. w7945
Number of pages: 82 Posted: 12 Oct 2000
Gary B. Gorton and Frank A. Schmid
Yale School of Management and AIG
Downloads 117 (176,847)
Citation 19

Abstract:

59.

The Design of Bank Loan Contracts, Collateral, and Renegotiation

Downloads 116 (197,756)

The Design of Bank Loan Contracts, Collateral, and Renegotiation

NBER Working Paper No. w4273
Number of pages: 50 Posted: 06 Jul 2004
Gary B. Gorton and James A. Kahn
Yale School of Management and Federal Reserve Bank of New York
Downloads 116 (198,583)
Citation 29

Abstract:

The Design of Bank Loan Contracts, Collateral, and Renegotiation

Rodney L. White Center Working Paper No. 02-96
Posted: 28 Jun 1998
Gary B. Gorton and James A. Kahn
Yale School of Management and Federal Reserve Bank of New York

Abstract:

60.

Bank Capital Regulation in General Equilibrium

Downloads 105 (212,620)

Bank Capital Regulation in General Equilibrium

NBER Working Paper No. w5244
Number of pages: 47 Posted: 13 Jul 2000
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 105 (213,726)
Citation 14

Abstract:

Bank Capital Regulation in General Equilibrium

Posted: 23 Aug 1998
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management

Abstract:

61.

Getting Up to Speed on the Financial Crisis: A One Weekend Reader’s Guide (Entérese Rápidamente De La Crisis Financiera: Guía Para El Lector De Fin De Semana)

Revista de Economía Institucional Vol. 14, No. 26, 2012,
Number of pages: 32 Posted: 25 Jun 2012
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 95 (181,189)

Abstract:

financial crisis

62.

Equilibrium Asset Prices Under Imperfect Corporate Control

NBER Working Paper No. w9758
Number of pages: 37 Posted: 08 Jun 2003
James Dow, Arvind Krishnamurthy and Gary B. Gorton
London Business School - Institute of Finance and Accounting, Northwestern University - Kellogg School of Management and Yale School of Management
Downloads 84 (224,582)
Citation 24

Abstract:

63.

Rational Finite Bubbles

NBER Working Paper No. w3707
Number of pages: 42 Posted: 14 Jul 2000
Franklin Allen and Gary B. Gorton
Imperial College London and Yale School of Management
Downloads 84 (226,179)
Citation 6

Abstract:

64.

Arbitrage Chains

Downloads 76 (261,751)

Arbitrage Chains

NBER Working Paper No. w4314
Number of pages: 39 Posted: 28 Dec 2006
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 76 (264,238)
Citation 39

Abstract:

Arbitrage Chains

Posted: 10 Aug 1999
Gary B. Gorton
Yale School of Management

Abstract:

65.

How Did Pre-Fed Banking Panics End?

Downloads 74 (265,966)

How Did Pre-Fed Banking Panics End?

FRB of Cleveland Working Paper No. 1603
Number of pages: 93 Posted: 21 Jan 2016
Ellis W. Tallman and Gary B. Gorton
Federal Reserve Banks - Federal Reserve Bank of Cleveland and Yale School of Management
Downloads 65 (289,002)

Abstract:

Financial crisis, bank runs, banking panic, clearing house, bank-specific information, currency premium

How Did Pre-Fed Banking Panics End?

NBER Working Paper No. w22036
Number of pages: 92 Posted: 01 Mar 2016
Gary B. Gorton and Ellis W. Tallman
Yale School of Management and Federal Reserve Banks - Federal Reserve Bank of Cleveland
Downloads 9 (518,959)

Abstract:

66.

Bank Health Post-Crisis

Downloads 71 (272,191)

Bank Health Post-Crisis

Number of pages: 17 Posted: 11 Feb 2017
Kyriakos Chousakos and Gary B. Gorton
Yale University, School of Management, Students and Yale School of Management
Downloads 57 (309,359)

Abstract:

Bank health, financial crisis

Bank Health Post-Crisis

NBER Working Paper No. w23167
Number of pages: 18 Posted: 13 Feb 2017
Kyriakos Chousakos and Gary B. Gorton
Yale University, School of Management, Students and Yale School of Management
Downloads 14 (490,791)

Abstract:

67.

Fighting Crises

Downloads 68 (278,775)

Fighting Crises

Number of pages: 38 Posted: 26 Oct 2016
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 59 (303,955)

Abstract:

Financial Crises, Central Banks

Fighting Crises

NBER Working Paper No. w22787
Number of pages: 39 Posted: 31 Oct 2016
Gary B. Gorton and Guillermo L. Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 9 (518,959)

Abstract:

68.

Corporate Control, Portfolio Choice, and the Decline of Banking

Downloads 65 (285,563)

Corporate Control, Portfolio Choice, and the Decline of Banking

NBER Working Paper No. w4247
Number of pages: 52 Posted: 29 Dec 2006
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 65 (289,002)
Citation 99

Abstract:

Corporate Control, Portfolio Choice, and the Decline of Banking

JOURNAL OF FINANCE, Vol 50 No 5, December 1995
Posted: 22 Jul 1998
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research

Abstract:

69.

Reputation Formation in Early Bank Debt Markets

Downloads 57 (305,092)

Reputation Formation in Early Bank Debt Markets

NBER Working Paper No. w4400
Number of pages: 56 Posted: 08 Aug 2007
Gary B. Gorton
Yale School of Management
Downloads 57 (309,359)
Citation 26

Abstract:

Reputation Formation in Early Bank Debt Markets

Rodney L White Center for Financial Working Paper No 13-93
Posted: 13 Sep 1999
Gary B. Gorton
Yale School of Management

Abstract:

70.

Asset Prices When Agents are Marked-to-Market

NBER Working Paper No. w12075
Number of pages: 36 Posted: 10 May 2006
Gary B. Gorton, Ping He and Lixin Huang
Yale School of Management, Tsinghua University, SEM and Georgia State University
Downloads 56 (290,255)
Citation 8

Abstract:

71.

Optimal Monetary Policy in a Collateralized Economy

Downloads 52 (318,716)

Optimal Monetary Policy in a Collateralized Economy

Number of pages: 45 Posted: 27 Aug 2016
Gary B. Gorton and Ping He
Yale School of Management and Tsinghua University, SEM
Downloads 36 (377,533)

Abstract:

Optimal Monetary Policy in a Collateralized Economy

NBER Working Paper No. w22599
Number of pages: 46 Posted: 07 Sep 2016
Gary B. Gorton and Ping He
Yale School of Management and Tsinghua University, SEM
Downloads 16 (479,055)

Abstract:

72.

The Visible Hand, the Invisible Hand and Efficiency

NBER Working Paper No. w7587
Number of pages: 53 Posted: 11 Jun 2000
Eitan Goldman and Gary B. Gorton
Indiana University - Kelley School of Business - Department of Finance and Yale School of Management
Downloads 52 (295,058)
Citation 2

Abstract:

73.

Executive Compensation and the Optimality of Managerial Entrenchment

Downloads 51 (321,590)

Executive Compensation and the Optimality of Managerial Entrenchment

NBER Working Paper No. w5779
Number of pages: 57 Posted: 14 Jul 2000
Gary B. Gorton and Bruce D. Grundy
Yale School of Management and University of Melbourne
Downloads 51 (326,698)
Citation 6

Abstract:

Executive Compensation and the Optimality of Managerial Entrenchment

Rodney L. White Center for Financial Research Working Paper Series # 15-96
Posted: 07 Oct 1996
Gary B. Gorton and Bruce D. Grundy
Yale School of Management and University of Melbourne

Abstract:

74.

Universal Banking and the Performance of German Firms

NBER Working Paper No. w5453
Number of pages: 75 Posted: 31 May 2011
Gary B. Gorton and Frank A. Schmid
Yale School of Management and AIG
Downloads 50 (263,860)
Citation 133

Abstract:

75.

Security Baskets and Index-Linked Securities

NBER Working Paper No. w3711
Number of pages: 39 Posted: 24 Aug 2010
Gary B. Gorton and George Pennacchi
Yale School of Management and University of Illinois
Downloads 47 (318,716)
Citation 54

Abstract:

76.

Noise Trading, Delegated Portfolio Management, and Economic Welfare

Downloads 43 (345,765)

Noise Trading, Delegated Portfolio Management, and Economic Welfare

NBER Working Paper No. w4858
Number of pages: 30 Posted: 10 Jul 2007
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 43 (352,227)
Citation 69

Abstract:

Noise Trading, Delegated Portfolio Management, and Economic Welfare

Working Paper No. 19-94
Posted: 03 Nov 1998
Gary B. Gorton and James Dow
Yale School of Management and London Business School - Institute of Finance and Accounting

Abstract:

77.

The Enforceability of Private Money Contracts, Market Efficiency, and Technological Change

NBER Working Paper No. w3645
Number of pages: 62 Posted: 07 Jan 2008
Gary B. Gorton
Yale School of Management
Downloads 38 (355,535)

Abstract:

78.

Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing

NBER Working Paper No. w4315
Number of pages: 61 Posted: 10 Jul 2007
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 38 (339,433)
Citation 9

Abstract:

79.

Trading, Communication and the Response of Price to New Information

NBER Working Paper No. w3687
Number of pages: 32 Posted: 10 Aug 2010
Gary B. Gorton and James Dow
Yale School of Management and London Business School - Institute of Finance and Accounting
Downloads 33 (380,597)

Abstract:

80.

Banks as Secret Keepers

NBER Working Paper No. w20255
Posted: 30 Jun 2014
Tri Vi Dang, Gary B. Gorton, Bengt R. Holmström and Guillermo L. Ordoñez
Columbia University - Department of Economics, Yale School of Management, Massachusetts Institute of Technology (MIT) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 12 (482,202)
Citation 2

Abstract:

81.

The Design of Bank Loan Contracts

Review of Financial Studies, Vol. 13, No. 2
Posted: 26 Jan 2000
Gary B. Gorton and James A. Kahn
Yale School of Management and Federal Reserve Bank of New York

Abstract:

82.

Banking in Transition Economies: Does Efficiency Require Instability?

Journal of Money, Credit, and Banking, Vol. 30, No. 3, Part 2 (August 1998)
Posted: 25 Aug 1998
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management

Abstract:

83.

Reputation Formation in Early Bank Note Markets

J. OF POLITICAL ECONOMY, Vol. 104 No. 2, April 1996
Posted: 27 Jun 1998
Gary B. Gorton
Yale School of Management

Abstract:

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