NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

The Panic of 2007

Gary B. Gorton

NBER Working Paper No. 14358
Issued in September 2008

---- Acknowledgements -----

Thanks to Geetesh Bhardwaj, Omer Brav, Adam Budnick, Jared Champion, Kristan Blake Gochee, Itay Goldstein, Ping He, Bengt Holmström, Lixin Huang, Matt Jacobs, Arvind Krishnamurthy, Tom Kushner, Bob McDonald, Hui Ou-Yang, Ashraf Rizvi, Geert Rouwenhorst, Hyun Shin, Marty Wayne, Axel Weber, and to those who wished to remain anonymous, for comments, suggestions, and assistance with data and examples. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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