Diamond and Rajan are from the University of Chicago and NBER, and University of Chicago, IMF, and NBER, respectively, we thank John Cochrane, Isabel Gödde, Gary Gorton, Nobuhiro Kiyotaki, and an anonymous referee for very helpful comments on an earlier draft; Steve Ross and participants at the NBER Economic Fluctuations and Growth meetings for helpful suggestions; and Efram Benmelech for great research assistance. We are grateful for financial support from the National Science Foundation and the Center for Research in Security Prices at the University of Chicago. Rajan also thanks the George J. Stigler Center for the Study of the Economy and the State for financial support.
Liquidity Shortages and Banking Crises
Version of Record online: 2 MAR 2005
© 2005 the American Finance Association
The Journal of Finance
Volume 60, Issue 2, pages 615–647, April 2005
How to Cite
DIAMOND, D. W. and RAJAN, R. G. (2005), Liquidity Shortages and Banking Crises. The Journal of Finance, 60: 615–647. doi: 10.1111/j.1540-6261.2005.00741.x
- Issue online: 2 MAR 2005
- Version of Record online: 2 MAR 2005
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