Haircuts

14 Pages Posted: 12 Jul 2021 Last revised: 11 Jul 2021

See all articles by Gary B. Gorton

Gary B. Gorton

Yale School of Management; National Bureau of Economic Research (NBER); Yale University - Yale Program on Financial Stability

Andrew Metrick

affiliation not provided to SSRN

Multiple version iconThere are 3 versions of this paper

Date Written: 2010

Abstract

?When confidence is lost, liquidity dries up.? The authors investigate the meaning of ?confidence? and ?liquidity? in the context of the recent financial crisis, which they maintain is a manifestation of an age-old problem with private money creation: banking panics. The authors explain this problem and provide some evidence with respect to the recent crisis.

Keywords: Financial crises, Bank liquidity

Suggested Citation

Gorton, Gary B. and Metrick, Andrew, Haircuts (2010). Available at SSRN: https://ssrn.com/abstract=3884266

Gary B. Gorton (Contact Author)

Yale School of Management ( email )

165 Whitney Ave
P.O. Box 208200
New haven, CT 06511
United States

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

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Yale University - Yale Program on Financial Stability

165 Whitney Avenue
P.O. Box 208200
New Haven, CT 06520-8200
United States

Andrew Metrick

affiliation not provided to SSRN

No Address Available

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
39
Abstract Views
222
PlumX Metrics