NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009

Marcin Kacperczyk, Philipp Schnabl

NBER Working Paper No. 15538
Issued in November 2009

---- Acknowledgements -----

We would like to thank David Autor, Charles Jones, Andrei Shleifer, Timothy Taylor, and especially Jeremy Stein for helpful discussions and suggestions. 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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