NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Gary B. Gorton

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Working Papers

June 2014Banks as Secret Keepers
with Tri Vi Dang, Bengt Holmström, Guillermo Ordonez: w20255
April 2014The Flight from Maturity
with Andrew Metrick, Lei Xie: w20027
October 2013The Development of Opacity in U.S. Banking
w19540
August 2013The Federal Reserve and Financial Regulation: The First Hundred Years
with Andrew Metrick: w19292

Published: Journal of Economic Perspectives: Vol. 27 No. 4 (Fall 2013)

January 2013The Supply and Demand for Safe Assets
with Guillermo Ordoñez: w18732
December 2012Securitization
with Andrew Metrick: w18611
October 2012Who Ran on Repo?
with Andrew Metrick: w18455
September 2012Some Reflections on the Recent Financial Crisis
w18397
January 2012Collateral Crises
with Guillermo Ordonez: w17771
The Safe-Asset Share
with Stefan Lewellen, Andrew Metrick: w17777

Published: Gary Gorton & Stefan Lewellen & Andrew Metrick, 2012. "The Safe-Asset Share," American Economic Review, American Economic Association, vol. 102(3), pages 101-06, May. citation courtesy of

Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide
with Andrew Metrick: w17778

Published: Gary Gorton & Andrew Metrick, 2012. "Getting Up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide," Journal of Economic Literature, American Economic Association, vol. 50(1), pages 128-50, March. citation courtesy of

February 2010Questions and Answers about the Financial Crisis
w15787
August 2009Haircuts
with Andrew Metrick: w15273

Published: Gary Gorton & Andrew Metrick, 2010. "Haircuts," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 507-520. citation courtesy of

Securitized Banking and the Run on Repo
with Andrew Metrick: w15223

Published:

May 2009The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover
with Lixin Huang, Qiang Kang: w14944
January 2009Information, Liquidity, and the (Ongoing) Panic of 2007
w14649

Published: Gary Gorton, 2009. "Information, Liquidity, and the (Ongoing) Panic of 2007," American Economic Review, American Economic Association, vol. 99(2), pages 567-72, May. citation courtesy of

October 2008Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors
with Geetesh Bhardwaj, K. Geert Rouwenhorst: w14424
The Subprime Panic
w14398

Published: Gary Gorton, 2009. "The Subprime Panic," European Financial Management, Blackwell Publishing Ltd, vol. 15(1), pages 10-46. citation courtesy of

September 2008The Panic of 2007
w14358

Published:

  • Gary Gorton, 2009. "Information, Liquidity, and the (Ongoing) Panic of 2007," American Economic Review, American Economic Association, vol. 99(2), pages 567-72, May.
  • Gary B. Gorton, 2008. "The panic of 2007," Proceedings – Payments System Research Conferences, Federal Reserve Bank of Kansas City, pages 131-262.

July 2007The Fundamentals of Commodity Futures Returns
with Fumio Hayashi, K. Geert Rouwenhorst: w13249

Published: Gary B. Gorton & Fumio Hayashi & K. Geert Rouwenhorst, 2013. "The Fundamentals of Commodity Futures Returns," Review of Finance, European Finance Association, vol. 17(1), pages 35-105. citation courtesy of

May 2006Noise Traders
with James Dow: w12256
March 2006Asset Prices When Agents are Marked-to-Market
with Ping He, Lixin Huang: w12075
Agency-Based Asset Pricing
with Ping He: w12084
May 2005Bank Credit Cycles
with Ping He: w11363

Published: Gorton & Ping He, 2008. "Bank Credit Cycles," Review of Economic Studies, Blackwell Publishing, vol. 75(4), pages 1181-1214, October. citation courtesy of

Eat or Be Eaten: A Theory of Mergers and Merger Waves
with Matthias Kahl, Richard Rosen: w11364

Published: Gary Gorton & Matthias Kahl & Richard J. Rosen, 2009. "Eat or Be Eaten: A Theory of Mergers and Firm Size," Journal of Finance, American Finance Association, vol. 64(3), pages 1291-1344, 06.

March 2005Special Purpose Vehicles and Securitization
with Nicholas Souleles: w11190

Published: Special Purpose Vehicles and Securitization, Gary B. Gorton, Nicholas S. Souleles. in The Risks of Financial Institutions, Carey and Stulz. 2006

June 2004Facts and Fantasies about Commodity Futures
with K. Geert Rouwenhorst: w10595

Published: Gorton, Gary and K. Geert Rouwenhorst. "Facts And Fantasies About Commodity Futures," Financial Analysts Journal, 2006, v62(2,Mar/Apr), 47-68.

SEC Regulation Fair Disclosure, Information, and the Cost of Capital
with Armando Gomes, Leonardo Madureira: w10567

Published: Gomes, Armando, Gary Gorton and Leonardo Madureira. "SEC Regulation FD, Information, and the Cost of Capital.” Journal of Corporate Finance 13, 2-3 (June 2007): 300-334. citation courtesy of

June 2003Equilibrium Asset Prices Under Imperfect Corporate Control
with James Dow, Arvind Krishnamurthy: w9758

Published: Dow, James, Gary Gorton and Arvind Krishnamurthy. "Equilibrium Investment And Asset Prices Under Imperfect Corporate Control," American Economic Review, 2005, v95(2,May), 659-681.

September 2002Banking Panics and the Origin of Central Banking
with Lixin Huang: w9137

Published: Altig, David and Bruce Smith (eds.) Evolution and Procedures in Central Banking. Cambridge University Press, 2003.

Liquidity, Efficiency and Bank Bailouts
with Lixin Huang: w9158

Published: Gorton, Gary and Lixin Huang. "Liquidity, Efficiency, And Bank Bailouts," American Economic Review, 2004, v94(3,Jun), 455-483. citation courtesy of

August 2002Bank Panics and the Endogeneity of Central Banking
with Lixin Huang: w9102

Published: Gorton, Gary & Huang, Lixin, 2006. "Bank panics and the endogeneity of central banking," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1613-1629, October. citation courtesy of

May 2002Financial Intermediation
with Andrew Winton: w8928

Published: Constantinides, George, Milton Harris, and Rene Stulz. The Handbook of the Economics of Finance: Corporate Finance. Elsevier Science, 2003.

October 2000Class Struggle Inside the Firm: A Study of German Codetermination
with Frank Schmid: w7945
March 2000The Visible Hand, the Invisible Hand and Efficiency
with Eitan Goldman: w7587
May 1999Blockholder Identity, Equity Ownership Structures, and Hostile Takeovers
with Matthias Kahl: w7123
September 1996Executive Compensation and the Optimality of Managerial Entrenchment
with Bruce D. Grundy: w5779
February 1996Universal Banking and the Performance of German Firms
with Frank A. Schmid: w5453

Published: Gorton, Gary and Frank A. Schmid. "Universal Banking And The Performance Of German Firms," Journal of Financial Economics, 2000, v58(1-2,Jan), 29-80. citation courtesy of

August 1995Stock Market Efficiency and Economic Efficiency: Is There a Connection?
with James Dow: w5233

Published: Journal of Finance, Vol. 52, no. 3 (July 1997): 1087-1129. citation courtesy of

Bank Capital Regulation in General Equilibrium
with Andrew Winton: w5244
April 1995Banks and Derivatives
with Richard Rosen: w5100

Published:

September 1994Noise Trading, Delegated Portfolio Management, and Economic Welfare
with James Dow: w4858

Published: Journal of Political Economy, Vol. 105, no. 5 (October 1997): 1024-1050. citation courtesy of

July 1993Reputation Formation in Early Bank Debt Markets
w4400

Published: Published as "Reputation Formation in Early Bank Note Markets", Journal of Political Economy, Vol. 104, no. 2 (April 1996): 346-397.

April 1993Arbitrage Chains
with James Dow: w4314

Published: Dow, James and Gary Gorton. "Arbitrage Chains," Journal of Finance, 1994, v49(3), 819-849. citation courtesy of

Profitable Informed Trading in a Simple General Equilibrium Model of Asset Pricing
with James Dow: w4315

Published: Journal of Economic Theory, Vol. 67, no. 2 (December 1995): 327-369. citation courtesy of

February 1993The Design of Bank Loan Contracts, Collateral, and Renegotiation
with James A. Kahn: w4273

Published: Gorton, G. and J. Kahn. "The Design Of Bank Loan Contracts," Review of Financial Studies, 2000, v13(2,Summer), 331-364.

December 1992Corporate Control, Portfolio Choice, and the Decline of Banking
with Richard Rosen: w4247

Published: Journal of Finance, Vol. 50, no. 5 (1995): 1377-1420. citation courtesy of

October 1991Stock Price Manipulation, Market Microstructure and Asymmetric Information
with Franklin Allen: w3862

Published:

  • European Economic Review, Vol. 36, nos. 2/3 (April 1992): 624-630. citation courtesy of
  • Franklin Allen, Stephen Morris and Andrew Postlewaite, "Finite Bubbles with Short Sale Constraints and Asymmetric Information," Journal of Economic Theory, Vol. 61, no. 2 (December 1993): 206-229.

May 1991Rational Finite Bubbles
with Franklin Allen: w3707

Published: Allen, Franklin and Gary Gorton. Churning Bubbles." Review of Economic Studies 60, 4 no. 205 (October 1993): 813-836.

Security Baskets and Index-Linked Securities
with George Pennacchi: w3711

Published: The Journal of Business, Vol. 66, no. 1 (January 1993): 1-27. citation courtesy of

April 1991Trading, Communication and the Response of Price to New Information
with James Dow: w3687

Published: Dow, James & Gorton, Gary, 1993. "Trading, Communication and the Response of Asset Prices to News," Economic Journal, Royal Economic Society, vol. 103(418), pages 639-46, May.

March 1991The Enforceability of Private Money Contracts, Market Efficiency, and Technological Change
w3645
December 1990Banks and Loan Sales: Marketing Non-Marketable Assets
with George Pennacchi: w3551

Published: Journal of Monetary Economics, Vol. 35, no. 3 (1995): 389-411. citation courtesy of

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

 
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