NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

FINANCIAL CRISES AND LIQUIDITY SHOCKS: A Bank-Run Perspective

Guillermo A. Calvo

NBER Working Paper No. 15425
Issued in October 2009

---- Acknowledgements -----

I am grateful to Alejandro Izquierdo, Ivan Khotulev and Enrique Mendoza for useful 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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