NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Complexity and Financial Panics

Ricardo J. Caballero, Alp Simsek

NBER Working Paper No. 14997
Issued in May 2009

---- Acknowledgements -----

We thank Mathias Dewatripont, Pablo Kurlat, Guido Lorenzoni, Juan Ocampo and seminar participants at Cornell and MIT for their comments, and the NSF for financial support. 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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