Amplification Mechanisms in Liquidity Crises

Arvind Krishnamurthy

NBER Working Paper No. 15040
Issued in June 2009

---- Acknowledgements -----

I thank Tobias Adrian, Olivier Blanchard, Markus Brunnermeier, Ricardo Caballero, Andrea Eisfeldt, Zhiguo He, Charles Kahn, the referee, and participants at the WEL-MIT conference and the Chicago Fed's Bank Structure Conference for their comments. 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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