NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Intermediary Asset Pricing and the Financial Crisis

Zhiguo He, Arvind Krishnamurthy

NBER Working Paper No. 24415
Issued in March 2018

---- Acknowledgments ----

Prepared for the Annual Review of Financial Economics. We thank Ravi Jagannathan, Wenhao Li, Jiacui Li, Tyler Muir and an anonymous reviewer for comments. Chloe Peng provided excellent research assistance. There are no financial support to acknowledge. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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