Chapter in NBER book Risk Topography: Systemic Risk and Macro Modeling (2014), Markus Brunnermeier and Arvind Krishnamurthy, editors (p. 113 - 127)
---- Acknowledgements ----
---- Disclosure of Financial Relationships for John Geanakoplos ----
John Geanakoplos is James Tobin Professor of economics at Yale University, an External Professor at the Santa Fe Institute, and a partner at Ellington Capital Management, a hedge fund that invests in mortgage backed securities.
---- Disclosure of Financial Relationships for Lasse Heje Pedersen ----
Lasse H. Pedersen is at New York University, Copenhagen Business School, AQR Capital Management, CEPR, NBER, director of the American Finance Association, and an academic advisor for FTSE and NASDAQ OMX.