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

  • University of Pennsylvania - Department of Economics

  • National Bureau of Economic Research (NBER)

SCHOLARLY PAPERS

25

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195

CROSSREF CITATIONS

190

Scholarly Papers (25)

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1.

Collateral Crises

Downloads 344 ( 97,312)
Citation 70

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 310 (108,532)
Citation 25

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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 34 (508,703)
Citation 13

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2.

Good Booms, Bad Booms

Downloads 319 (105,870)
Citation 17

Good Booms, Bad Booms

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 64 Posted: 20 Feb 2014 Last Revised: 18 Sep 2020
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 269 (126,277)

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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 50 (436,851)
Citation 11

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3.

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 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 306 (110,703)

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

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 285 (119,433)
Citation 4

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Central Bank, Discount Window, Financial Crisis, Confidence

5.

The Supply and Demand for Safe Assets

Downloads 270 (126,460)
Citation 9

The Supply and Demand for Safe Assets

Number of pages: 36 Posted: 19 Jan 2013 Last Revised: 27 Apr 2020
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 252 (135,194)
Citation 2

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safe assets, monetary policy, financial crises

The Supply and Demand for Safe Assets

NBER Working Paper No. w18732
Number of pages: 37 Posted: 26 Jan 2013
Gary B. Gorton and Guillermo Ordoñez
Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 18 (611,106)
Citation 1

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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 and Princeton University - Department of Economics
Downloads 217 (156,862)
Citation 4

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Adverse Selection, Collateral, Credit Score, Reputation, Signaling

7.

Political Booms, Financial Crises

Downloads 144 (224,854)
Citation 7

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 87 (324,225)

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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 44 (461,554)

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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 13 (648,454)
Citation 5

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8.

Interbank Networks in the Shadows of the Federal Reserve Act

Downloads 136 (235,385)
Citation 3

Interbank Networks in the Shadows of the Federal Reserve Act

Number of pages: 60 Posted: 06 May 2019 Last Revised: 17 Aug 2020
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 136 (236,070)
Citation 3

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

Interbank Networks in the Shadows of the Federal Reserve Act

NBER Working Paper No. w27721
Number of pages: 61 Posted: 25 Aug 2020
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
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9.

A Walrasian Theory of Sovereign Debt Auctions with Asymmetric Information

Downloads 107 (280,910)

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 53 (425,503)

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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 39 (484,118)

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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 14 (640,756)

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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 (754,621)

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10.

Fighting Crises

Downloads 86 (323,798)
Citation 2

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 72 (363,256)

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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 14 (640,756)
Citation 2

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11.

Social and Economic Distancing

Number of pages: 37 Posted: 24 Apr 2020
Selman Erol and Guillermo Ordoñez
Carnegie Mellon University - David A. Tepper School of Business and University of Pennsylvania - Department of Economics
Downloads 84 (328,503)
Citation 1

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Social distancing, Economic distancing, COVID-19, Coronavirus

12.

Banks as Secret Keepers

NBER Working Paper No. w20255
Number of pages: 53 Posted: 30 Jun 2014
Tri Vi Dang, Gary B. Gorton, Bengt R. Holmström and Guillermo 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 59 (398,128)
Citation 33

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13.

The Political Economy of Pandemics

Number of pages: 33 Posted: 28 May 2020
Helios Herrera and Guillermo Ordoñez
HEC Montreal and University of Pennsylvania - Department of Economics
Downloads 51 (425,783)

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herding, beauty contests, political agency, yardstick competition, COVID-19.

14.

Corona Politics: The Cost of Mismanaging Pandemics

PIER Working Paper No. 20-033
Number of pages: 30 Posted: 10 Sep 2020
Helios Herrera, Guillermo Ordoñez, Maximilian Konradt and Christoph Trebesch
University of Warwick, University of Pennsylvania - Department of Economics, University of Geneva - Graduate Institute, Geneva (IHEID) and Kiel Institute for the World Economy
Downloads 44 (465,229)

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Political Popularity, Political Economy, Crisis Management, Covid-19

15.

The Macroprudential Role of Stock Markets

Number of pages: 44 Posted: 12 May 2020
Kyriakos Chousakos, Gary B. Gorton and Guillermo Ordoñez
Bank of America, Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 37 (487,364)

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Business Cycles, Financial Markets and the Macro-economy, Financial Crises

16.

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 29 (522,292)
Citation 4

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

17.

The Asymmetric Effects of Financial Frictions

Number of pages: 72 Posted: 21 Jan 2013
Guillermo Ordoñez
University of Pennsylvania - Department of Economics
Downloads 24 (551,703)

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18.

Uncertainty as Commitment

Downloads 22 (564,288)
Citation 9

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 12 (656,294)

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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 10 (671,743)
Citation 4

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19.

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 17 (596,847)
Citation 15

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20.

Optimal Regulation in the Presence of Reputation Concerns

Downloads 12 (631,278)
Citation 11

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 12 (656,294)

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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 3
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entry regulation, firm dynamics, quality investments, reputation concerns

21.

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 10 (645,365)

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22.

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 9 (652,690)
Citation 2

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23.

Retirement in the Shadow (Banking)

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Retirement in the Shadow (Banking)

NBER Working Paper No. w26337
Number of pages: 58 Posted: 07 Oct 2019
Guillermo Ordoñez and Facundo Piguillem
University of Pennsylvania - Department of Economics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 6 (703,436)
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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)
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Ageing Population, financial crisis, shadow banking

24.

The Macroprudential Role of Stock Markets

NBER Working Paper No. w27113
Number of pages: 45 Posted: 12 May 2020
Kyriakos Chousakos, Gary B. Gorton and Guillermo Ordoñez
Bank of America, Yale School of Management and University of Pennsylvania - Department of Economics
Downloads 3 (697,662)
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25.

Savings and Saving Rates: Up or Down?

Downloads 3 (697,662)

Savings and Saving Rates: Up or Down?

NBER Working Paper No. w27179
Number of pages: 22 Posted: 18 May 2020
Guillermo Ordoñez and Facundo Piguillem
University of Pennsylvania - Department of Economics and Einaudi Institute for Economics and Finance (EIEF)
Downloads 3 (729,041)
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Savings Rates: Up or Down?

CEPR Discussion Paper No. DP14662
Number of pages: 24 Posted: 08 May 2020
Guillermo Ordoñez and Facundo Piguillem
University of Pennsylvania - Department of Economics and Einaudi Institute for Economics and Finance (EIEF)
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capital gains, Human Capital, Savings rates