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

SCHOLARLY PAPERS

83

DOWNLOADS
Rank 31

SSRN RANKINGS

Top 31

in Total Papers Downloads

144,588

CITATIONS
Rank 139

SSRN RANKINGS

Top 139

in Total Papers Citations

2,153

Scholarly Papers (83)

1.
Downloads 27,418 ( 45)
Citation 113

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 26,722 (46)
Citation 113

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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 696 (29,805)
Citation 113

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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

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

2.
Downloads 13,641 ( 185)
Citation 53

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 13,401 (184)
Citation 53

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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 Last Revised: 15 Sep 2010
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 240 (108,767)
Citation 53

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3.
Downloads 11,268 ( 259)
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 10,966 (268)
Citation 159

Abstract:

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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 302 (84,899)
Citation 159

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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 (260)
Citation 67

Abstract:

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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 (382)
Citation 25

Abstract:

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Shadow Banking, Financial Crisis, Bank Regulation

6.
Downloads 6,451 ( 743)
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 6,185 (788)
Citation 69

Abstract:

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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 266 (97,621)
Citation 69

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7.
Downloads 6,007 ( 857)
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 5,701 (928)
Citation 53

Abstract:

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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 Last Revised: 14 Oct 2008
Gary B. Gorton
Yale School of Management
Downloads 299 (85,885)
Citation 53

Abstract:

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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 (548,549)
Citation 53
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8.
Downloads 4,740 ( 1,301)
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 4,499 (1,394)
Citation 213

Abstract:

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Panic, Capital Markets

The Panic of 2007

NBER Working Paper No. w14358
Number of pages: 93 Posted: 23 Sep 2008 Last Revised: 26 Sep 2010
Gary B. Gorton
Yale School of Management
Downloads 241 (108,332)
Citation 213

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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 4,350 (1,473)
Citation 2

Abstract:

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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 364 (68,317)
Citation 42

Abstract:

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10.
Downloads 4,517 ( 1,405)
Citation 41

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 4,381 (1,458)
Citation 41

Abstract:

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Haircuts

NBER Working Paper No. w15273
Number of pages: 17 Posted: 25 Aug 2009 Last Revised: 26 Sep 2010
Gary B. Gorton and Andrew Metrick
Yale School of Management and Yale School of Management
Downloads 136 (183,261)
Citation 41

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11.
Downloads 4,345 ( 1,500)
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 4,196 (1,570)
Citation 42

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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 (170,012)
Citation 43

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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
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 3,657 (1,987)
Citation 8

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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 Last Revised: 24 Oct 2008
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 72 (284,829)
Citation 8

Abstract:

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Facts and Fantasies About Commodity Futures Ten Years Later

Number of pages: 31 Posted: 27 May 2015
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 3,319 (2,360)
Citation 2

Abstract:

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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
SummerHaven Investment Management, Yale School of Management and Yale School of Management - International Center for Finance
Downloads 11 (526,412)
Citation 2
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14.
Downloads 3,114 ( 2,720)
Citation 44

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 2,969 (2,905)
Citation 43

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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 Last Revised: 22 Jul 2010
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 145 (173,916)
Citation 44

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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 2,254 (4,645)
Citation 22

Abstract:

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Questions and Answers About the Financial Crisis

NBER Working Paper No. w15787
Number of pages: 18 Posted: 01 Mar 2010 Last Revised: 22 Aug 2010
Gary B. Gorton
Yale School of Management
Downloads 128 (192,540)
Citation 14

Abstract:

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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 (3,786)
Citation 32

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Bank Capital, Liquidity

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 1,808 (6,822)
Citation 40

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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 Last Revised: 30 Aug 2009
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 (243,098)
Citation 40

Abstract:

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18.
Downloads 1,790 ( 7,080)
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 1,719 (7,447)
Citation 3

Abstract:

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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 71 (287,161)
Citation 3

Abstract:

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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 (8,869)
Citation 2

Abstract:

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Commodity, commodities, futures, diversification

20.
Downloads 1,450 ( 10,027)
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 1,383 (10,611)
Citation 30

Abstract:

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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 67 (296,695)
Citation 30

Abstract:

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21.
Downloads 1,316 ( 11,752)
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 1,171 (13,852)
Citation 5

Abstract:

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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 (173,916)
Citation 5

Abstract:

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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 694 (29,989)

Abstract:

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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 535 (42,434)

Abstract:

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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 (10,965)
Citation 2

Abstract:

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Financial Crisis

24.
Downloads 1,060 ( 16,455)

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 1,027 (16,894)

Abstract:

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The History and Economics of Safe Assets

NBER Working Paper No. w22210
Number of pages: 55 Posted: 02 May 2016 Last Revised: 11 May 2016
Gary B. Gorton
Yale School of Management
Downloads 33 (405,962)
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The History and Economics of Safe Assets

Annual Review of Economics, Vol. 9, pp. 547-586, 2017
Posted: 14 Aug 2017
Gary B. Gorton
Yale School of Management

Abstract:

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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 733 (27,789)
Citation 5

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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 Last Revised: 14 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 (328,645)
Citation 5

Abstract:

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26.
Downloads 758 ( 26,938)
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 719 (28,579)
Citation 3

Abstract:

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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 39 (381,802)
Citation 3

Abstract:

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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 (28,415)
Citation 1

Abstract:

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agency problem, mark to market, market efficiency

28.

Risk Topography

Number of pages: 31 Posted: 30 Apr 2011 Last Revised: 07 Jun 2011
Princeton University - Department of Economics, Yale School of Management and Northwestern University - Kellogg School of Management
Downloads 659 (28,977)
Citation 4

Abstract:

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Measurement, Systemic Risk, Liquidity

29.
Downloads 619 ( 35,535)
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 543 (41,651)
Citation 8

Abstract:

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Safe Assets, Money, Shadow Banking

The Safe-Asset Share

NBER Working Paper No. w17777
Number of pages: 17 Posted: 21 Jan 2012 Last Revised: 24 Jan 2012
Gary B. Gorton, Stefan Lewellen and Andrew Metrick
Yale School of Management, London Business School and Yale School of Management
Downloads 76 (275,922)
Citation 8

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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 (37,706)
Citation 12

Abstract:

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Blockholders, Takeovers, Corporate Ownership Structures

31.
Downloads 543 ( 42,196)
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 (45,326)
Citation 18

Abstract:

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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 Last Revised: 30 Aug 2002
Gary B. Gorton and Lixin Huang
Yale School of Management and Georgia State University
Downloads 35 (397,613)
Citation 18

Abstract:

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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 (41,755)
Citation 1

Abstract:

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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 (49,799)

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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 (51,882)

Abstract:

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theory of the firm, information, coordination

35.

Financial Intermediation

NBER Working Paper No. w8928
Number of pages: 140 Posted: 09 May 2002 Last Revised: 24 Mar 2010
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 455 (48,486)
Citation 94

Abstract:

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36.
Downloads 447 ( 54,039)
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 403 (60,758)
Citation 2

Abstract:

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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 44 (363,552)
Citation 2

Abstract:

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37.
Downloads 346 ( 73,425)
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 320 (79,723)
Citation 2

Abstract:

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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 26 (439,572)
Citation 2

Abstract:

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38.
Downloads 324 ( 79,168)
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 292 (88,559)
Citation 9

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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 (410,297)
Citation 9

Abstract:

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39.

Liquidity Mismatch Measurement

Number of pages: 23 Posted: 19 Dec 2014
Princeton University - Department of Economics, Northwestern University - Kellogg School of Management and Yale School of Management
Downloads 309 (83,233)
Citation 1

Abstract:

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Liquidity, liquidity mismatch

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 280 (92,764)

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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 12 (520,681)

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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 236 (110,626)

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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 47 (356,837)

Abstract:

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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 201 (129,747)

Abstract:

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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 49 (347,229)

Abstract:

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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 Last Revised: 28 Sep 2016
Gary B. Gorton and Tyler Muir
Yale School of Management and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 11 (526,412)
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43.
Downloads 255 (102,580)

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 233 (112,092)

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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 22 (462,199)
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44.
Downloads 242 (109,243)
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 228 (115,494)
Citation 1

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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 (508,956)
Citation 1

Abstract:

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45.

Stock Price Manipulation, Market Microstructure and Asymmetric Information

NBER Working Paper No. w3862
Number of pages: 13 Posted: 04 Jul 2004 Last Revised: 23 Jul 2010
Franklin Allen and Gary B. Gorton
Imperial College London and Yale School of Management
Downloads 223 (117,539)
Citation 35

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46.
Downloads 212 (123,596)

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 172 (149,893)

Abstract:

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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 29 (424,246)

Abstract:

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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
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47.

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 (95,498)

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Financial Crisis

48.
Downloads 186 (139,697)

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 186 (139,603)
Citation 15

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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

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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 (48,870)

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Financial Crisis

The Development of Opacity in U.S. Banking

Number of pages: 24 Posted: 10 Oct 2013
Gary B. Gorton
Yale School of Management
Downloads 142 (176,971)

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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 20 (479,825)

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51.

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 (146,098)
Citation 131

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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 (104,323)

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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 (144,653)
Citation 37

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54.

Banks as Secret Keepers

PIER Working Paper
Number of pages: 52 Posted: 19 Jun 2014 Last Revised: 23 Mar 2016
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 (101,739)
Citation 2

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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 (161,272)
Citation 15

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

NBER Working Paper No. w5233
Number of pages: 49 Posted: 01 Jul 2000 Last Revised: 17 Mar 2008
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 134 (185,518)
Citation 92

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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:

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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 122 (199,130)
Citation 46

Abstract:

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58.
Downloads 119 (202,886)

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 104 (224,996)

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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 15 (503,029)
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59.

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 (180,632)
Citation 19

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The Design of Bank Loan Contracts, Collateral, and Renegotiation

NBER Working Paper No. w4273
Number of pages: 50 Posted: 06 Jul 2004 Last Revised: 12 Sep 2010
Gary B. Gorton and James A. Kahn
Yale School of Management and Federal Reserve Bank of New York
Downloads 116 (207,670)
Citation 29

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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

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Bank Capital Regulation in General Equilibrium

NBER Working Paper No. w5244
Number of pages: 47 Posted: 13 Jul 2000 Last Revised: 19 Mar 2008
Gary B. Gorton and Andrew Winton
Yale School of Management and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 107 (220,450)
Citation 14

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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:

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62.

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 (160,416)

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financial crisis

63.
Downloads 85 (255,470)

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 76 (275,922)

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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 (537,606)
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64.

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 (231,514)
Citation 22

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65.

Rational Finite Bubbles

NBER Working Paper No. w3707
Number of pages: 42 Posted: 14 Jul 2000 Last Revised: 23 Aug 2010
Franklin Allen and Gary B. Gorton
Imperial College London and Yale School of Management
Downloads 84 (236,305)
Citation 6

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66.
Downloads 82 (263,197)

Arbitrage Chains

NBER Working Paper No. w4314
Number of pages: 39 Posted: 28 Dec 2006 Last Revised: 30 Dec 2006
James Dow and Gary B. Gorton
London Business School - Institute of Finance and Accounting and Yale School of Management
Downloads 82 (265,543)
Citation 39

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Arbitrage Chains

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

Abstract:

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67.
Downloads 73 (279,674)

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 64 (304,095)

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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 (537,606)
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Corporate Control, Portfolio Choice, and the Decline of Banking

NBER Working Paper No. w4247
Number of pages: 52 Posted: 29 Dec 2006 Last Revised: 14 Aug 2010
Gary B. Gorton and Richard J. Rosen
Yale School of Management and Federal Reserve Bank of Chicago - Economic Research
Downloads 72 (287,161)
Citation 99

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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

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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 60 (317,299)
Citation 26

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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

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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 40 (378,005)

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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 (497,152)
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71.

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 (297,931)
Citation 8

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72.

The Visible Hand, the Invisible Hand and Efficiency

NBER Working Paper No. w7587
Number of pages: 53 Posted: 11 Jun 2000 Last Revised: 17 Oct 2010
Eitan Goldman and Gary B. Gorton
Indiana University - Kelley School of Business - Department of Finance and Yale School of Management
Downloads 52 (307,868)
Citation 2

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Executive Compensation and the Optimality of Managerial Entrenchment

NBER Working Paper No. w5779
Number of pages: 57 Posted: 14 Jul 2000 Last Revised: 25 Mar 2008
Gary B. Gorton and Bruce D. Grundy
Yale School of Management and University of Melbourne
Downloads 51 (340,991)
Citation 6

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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

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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 (273,305)
Citation 133

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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 (315,597)
Citation 53

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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 (367,121)
Citation 69

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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:

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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 (367,002)

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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 (353,749)
Citation 9

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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 (396,522)

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80.

Banks as Secret Keepers

NBER Working Paper No. w20255
Posted: 30 Jun 2014
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 (484,252)
Citation 2

Abstract:

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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:

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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:

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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

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