NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Credit Default Swaps and the Credit Crisis

René M. Stulz

NBER Working Paper No. 15384
Issued in September 2009

---- Acknowledgements -----

I am grateful for comments from Viral Acharya, Harry DeAngelo, Bernadette Minton, Til Shuermann, and Andrei Shleifer. I thank Mike Anderson and Jérôme Taillard for assistance. 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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