Mandatory Disclosure and Financial Contagion
---- Acknowledgments ----
First draft May 2013. We thank the editor Daron Acemoglu and four anonymous referees. We also wish to thank Ana Babus, Marco Bassetto, Russ Cooper, Gary Gorton, Simon Gilchrist, Bengt Holmström, Matt Jackson, Charles Kahn, Nobu Kiyotaki, Peter Kondor, Jennifer La’O, Andreas Lehnert, H.N. Nagaraja, Ezra Oberfield, Guillermo Ordoñez, Alessandro Pavan, Tarik Roukny, Alp Simsek, Tom Sargent, Alireza Tahbaz-Salehi, Carl Tannenbaum, Venky Venkateswaran, Juan Xandri, and Pierre Olivier Weill for their comments, as well as participants at various seminars and conferences. We thank Phillip Barrett, Roberto Robatto, and Fabrice Tourre for excellent research assistance. The views in this papers are solely those of the authors and not the Federal Reserve Bank of Chicago, the Federal Reserve System, the National Bureau of Economic Research.
---- Disclosure of Financial Relationships for Fernando Alvarez ----
I have visited, taught, or consulted for the following institutions, where I have received an honorarium and/or have been paid travel expenses:
EIEF, Rome, Italy. As research visitor.
Federal Reserve Bank of Chicago, US. As consultant to the Research Department.
Federal Reserve Bank of Minneapolis, US. As consultant to the Research Department.
European Central Bank, Frankfurt, Germany. As Duisenberg Fellow as regular research visitor to the MPR division.
Toulouse School of Economics, Toulouse, France. As a research visitor.
Cowles Foundation, Yale, US. As a research visitor.
Goldman Sachs, as a Goldman Sachs GMI fellow.