This paper is a revised version of a chapter of Tanju Yorulmazer's Ph.D. dissertation at the Department of Economics, New York University, and is a shorter and generalized version of the paper circulated under the title “Limited Liability and Bank Herding.” We are grateful to Franklin Allen and Douglas Gale for their encouragement and advice; to Sudipto Bhattacharya, Amil Dasgupta, Phillip Hartmann, Alessandro Lizzeri, Deborah Lucas (editor), John Moore, George Pennacchi, Enrico Perotti, Andrew Schotter, Raghu Sundaram, Anjan Thakor, Bent Vale, Andy Winton, two anonymous referees, and seminar participants at Bank of Canada, Bank of England, Bank for International Settlements, Center for Economic Policy Research (CEPR) Conference on “Financial Stability and Monetary Policy,” Conference on “Liquidity Concepts and Financial Instabilities” at the Center for Financial Studies at Eltville, Corporate Finance Workshop-London School of Economics, Department of Economics-New York University, European Finance Association Meetings in 2004, Federal Deposit Insurance Corporation (FDIC) Conference on “Finance and Banking: New Perspectives,” Financial Crises Workshop conducted by Franklin Allen at Stern School of Business-New York University, International Monetary Fund, and London Business School, for useful comments; and to Nancy Kleinrock for editorial assistance. All errors remain our own. The views expressed here are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of New York or the Federal Reserve System.
Information Contagion and Bank Herding
Article first published online: 30 JAN 2008
2008 The Ohio State University
Journal of Money, Credit and Banking
Volume 40, Issue 1, pages 215–231, February 2008
How to Cite
ACHARYA, V. V. and YORULMAZER, T. (2008), Information Contagion and Bank Herding. Journal of Money, Credit and Banking, 40: 215–231. doi: 10.1111/j.1538-4616.2008.00110.x
- Issue published online: 30 JAN 2008
- Article first published online: 30 JAN 2008
- Received October 4, 2005; and accepted in revised form September 22, 2007.
Options for accessing this content:
- If you have access to this content through a society membership, please first log in to your society website.
- If you would like institutional access to this content, please recommend the title to your librarian.
- Login via other institutional login options http://onlinelibrary.wiley.com/login-options.
- You can purchase online access to this Article for a 24-hour period (price varies by title)
- If you already have a Wiley Online Library or Wiley InterScience user account: login above and proceed to purchase the article.
- New Users: Please register, then proceed to purchase the article.
If your institution is a registered Wiley Online Library customer, you can log in under your institution's name to see our content. This access is provided by Shibboleth or Athens.
Type your institution's name in the box below. If your institution is a Wiley customer, it will appear in the list of suggested institutions.
Please note that there are currently a number of duplicate entries in the list of institutions. We are actively working on fixing this issue and apologize for any inconvenience caused.
Registered Users please login:
- Access your saved publications, articles and searches
- Manage your email alerts, orders and subscriptions
- Change your contact information, including your password
Please register to:
- Save publications, articles and searches
- Get email alerts
- Get all the benefits mentioned below!