Guillermo Ordoñez

University of Pennsylvania - Department of Economics

Ronald O. Perelman Center for Political Science

133 South 36th Street

Philadelphia, PA 19104-6297

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

19

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2,162

CITATIONS
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72

Scholarly Papers (19)

1.
Downloads 334 ( 88,519)
Citation 74

Collateral Crises

Number of pages: 52 Posted: 14 Jan 2012 Last Revised: 18 Mar 2013
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 301 (98,693)
Citation 60

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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 Last Revised: 24 Jan 2012
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 33 (458,880)
Citation 45

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2.

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 294 (101,823)

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

3.
Downloads 287 (104,531)
Citation 5

Good Booms, Bad Booms

Number of pages: 66 Posted: 20 Feb 2014 Last Revised: 07 Sep 2016
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 255 (117,808)

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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 Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 32 (463,708)
Citation 7

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4.

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 Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 274 (109,817)
Citation 3

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Central Bank, Discount Window, Financial Crisis, Confidence

5.
Downloads 258 (116,903)
Citation 5

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 Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 243 (123,771)

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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 Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 15 (565,380)
Citation 11

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6.

Leverage Dynamics and Credit Quality

Journal of Economic Theory, Vol. 183, 2019
Number of pages: 40 Posted: 08 May 2013 Last Revised: 19 Jun 2019
Guillermo Ordoñez, David Perez-Reyna and Motohiro Yogo
University of Pennsylvania - Department of Economics, Universidad de los Andes, Colombia - Department of Economics and Princeton University - Department of Economics
Downloads 207 (145,214)

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Adverse Selection, Collateral, Credit Score, Reputation, Signaling

7.
Downloads 119 (231,766)
Citation 1

Political Booms, Financial Crises

PIER Working Paper No. 14-024
Number of pages: 52 Posted: 27 Jul 2014 Last Revised: 29 Jul 2014
Guillermo Ordoñez, Christoph Trebesch and Helios Herrera
University of Pennsylvania - Department of Economics, Kiel Institute for the World Economy and HEC Montreal
Downloads 74 (318,972)

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Credit Booms, Reputation, Financial Crises, Political Popularity, Emerging Markets.

Political Booms, Financial Crises

CESifo Working Paper Series No. 4935
Number of pages: 52 Posted: 17 Sep 2014
Helios Herrera, Guillermo Ordoñez and Christoph Trebesch
HEC Montreal, University of Pennsylvania - Department of Economics and Kiel Institute for the World Economy
Downloads 36 (445,443)

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credit booms, reputation, financial crises, political popularity, emerging markets

Political Booms, Financial Crises

NBER Working Paper No. w20346
Number of pages: 52 Posted: 04 Aug 2014
Helios Herrera, Guillermo Ordoñez and Christoph Trebesch
HEC Montreal, University of Pennsylvania - Department of Economics and Kiel Institute for the World Economy
Downloads 9 (605,806)
Citation 2

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A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information

PIER Working Paper No. 17-015
Number of pages: 59 Posted: 14 Jun 2017 Last Revised: 11 Nov 2017
Harold L. Cole, Daniel Neuhann and Guillermo Ordoñez
University of Pennsylvania - Department of Economics, University of Texas at Austin, McCombs School of Business and University of Pennsylvania - Department of Economics
Downloads 46 (404,713)

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A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information

PIER Working Paper No. 17-015
Number of pages: 59 Posted: 11 Nov 2017
Harold L. Cole, Daniel Neuhann and Guillermo Ordoñez
University of Pennsylvania - Department of Economics, University of Texas at Austin, McCombs School of Business and University of Pennsylvania - Department of Economics
Downloads 38 (436,681)

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A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information

Number of pages: 67 Posted: 13 Nov 2017 Last Revised: 02 Aug 2018
Harold L. Cole, Daniel Neuhann and Guillermo Ordoñez
University of Pennsylvania - Department of Economics, University of Texas at Austin, McCombs School of Business and University of Pennsylvania - Department of Economics
Downloads 11 (592,209)

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Sovereign Debt, Auctions, Heterogeneous Information, Equilibrium

A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information

NBER Working Paper No. w24890
Number of pages: 68 Posted: 06 Aug 2018
Harold L. Cole, Daniel Neuhann and Guillermo Ordoñez
University of Pennsylvania - Department of Economics, University of Texas at Austin, McCombs School of Business and University of Pennsylvania - Department of Economics
Downloads 1 (676,043)
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9.
Downloads 80 (301,526)
Citation 1

Fighting Crises

Number of pages: 38 Posted: 26 Oct 2016
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 69 (331,796)

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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 Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 11 (592,209)
Citation 1

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10.

Interbank Networks in the Shadows of the Federal Reserve Act

Number of pages: 38 Posted: 06 May 2019
Haelim Anderson, Selman Erol and Guillermo Ordoñez
Government of the United States of America – Federal Deposit Insurance Corporation, Carnegie Mellon University - David A. Tepper School of Business and University of Pennsylvania - Department of Economics
Downloads 59 (355,396)

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Dual banking system, Federal Reserve Act, Shadow Banking, Interbank Networks, Systemic Risk

11.

Banks as Secret Keepers

NBER Working Paper No. w20255
Number of pages: 53 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 49 (387,021)
Citation 50

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12.

Which Workers Get Insurance within the Firm?

Number of pages: 30 Posted: 28 Jan 2012 Last Revised: 13 Feb 2013
David Lagakos and Guillermo Ordoñez
University of California, San Diego (UCSD) - Department of Economics and University of Pennsylvania - Department of Economics
Downloads 25 (487,354)
Citation 10

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insurance within the firm, risk sharing, limited commitment, displacement costs, wage smoothing, wage rigidity

13.

The Asymmetric Effects of Financial Frictions

Number of pages: 72 Posted: 21 Jan 2013
Guillermo Ordoñez
University of Pennsylvania - Department of Economics
Downloads 23 (498,359)

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14.
Downloads 17 (532,945)
Citation 5

Uncertainty as Commitment

National Bank of Poland Working Paper No. 141
Number of pages: 57 Posted: 11 Mar 2013
Jaromir B. Nosal and Guillermo Ordoñez
Columbia Business School - Economics Department and University of Pennsylvania - Department of Economics
Downloads 11 (592,209)

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bailouts, commitment, liquidity, banking, government policy, regulation

Uncertainty as Commitment

NBER Working Paper No. w18766
Number of pages: 48 Posted: 02 Feb 2013
Jaromir B. Nosal and Guillermo Ordoñez
Columbia Business School - Economics Department and University of Pennsylvania - Department of Economics
Downloads 6 (626,650)
Citation 7

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15.

Sustainable Shadow Banking

NBER Working Paper No. w19022
Number of pages: 38 Posted: 04 May 2013
Guillermo Ordoñez
University of Pennsylvania - Department of Economics
Downloads 14 (550,493)
Citation 11

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Optimal Regulation in the Presence of Reputation Concerns

NBER Working Paper No. w17898
Number of pages: 69 Posted: 10 Mar 2012
Andrew Atkeson, Christian Hellwig and Guillermo Ordoñez
University of California, Los Angeles (UCLA) - Department of Economics, University of Toulouse 1 - Toulouse School of Economics (TSE) and University of Pennsylvania - Department of Economics
Downloads 10 (598,984)

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Optimal Regulation in the Presence of Reputation Concerns

CEPR Discussion Paper No. DP10080
Number of pages: 49 Posted: 25 Sep 2014
Andrew Atkeson, Christian Hellwig and Guillermo Ordoñez
University of California, Los Angeles (UCLA) - Department of Economics, University of Toulouse 1 - Toulouse School of Economics (TSE) and University of Pennsylvania - Department of Economics
Downloads 0
Citation 8
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entry regulation, firm dynamics, quality investments, reputation concerns

17.

Debt Crises: For Whom the Bell Tolls

NBER Working Paper No. w22330
Number of pages: 59 Posted: 13 Jun 2016
Harold L. Cole, Daniel Neuhann and Guillermo Ordoñez
University of Pennsylvania - Department of Economics, University of Texas at Austin, McCombs School of Business and University of Pennsylvania - Department of Economics
Downloads 8 (587,266)
Citation 12

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18.

The Asymmetric Effects of Financial Frictions

NBER Working Paper No. w18360
Number of pages: 73 Posted: 08 Sep 2012
Guillermo Ordoñez
University of Pennsylvania - Department of Economics
Downloads 8 (587,266)
Citation 13

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19.

Retirement in the Shadow (Banking)

CEPR Discussion Paper No. DP13144
Number of pages: 52 Posted: 17 Sep 2018
Guillermo Ordoñez and Facundo Piguillem
University of Pennsylvania - Department of Economics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 0 (662,094)
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Ageing Population, financial crisis, shadow banking