Caballero is from MIT and NBER. Krishnamurthy is from Northwestern University and NBER. We are grateful to Marios Angeletos, Olivier Blanchard, Phil Bond, Craig Burnside, Jon Faust, Xavier Gabaix, Jordi Gali, Michael Golosov, Campbell Harvey, William Hawkins, Burton Hollifield, Bengt Holmstrom, Urban Jermann, Dimitri Vayanos, Ivan Werning, an associate editor and anonymous referee, as well as seminar participants at Atlanta Fed Conference on Systematic Risk, Bank of England, Central Bank of Chile, Columbia, DePaul, Imperial College, London Business School, London School of Economics, Northwestern, MIT, Wharton, NY Fed Liquidity Conference, NY Fed Money Markets Conference, NBER Economic Fluctuations and Growth meeting, NBER Macroeconomics and Individual Decision Making Conference, Philadelphia Fed, and University of British Columbia Summer Conference for their comments. Vineet Bhagwat, David Lucca, and Alp Simsek provided excellent research assistance. Caballero thanks the NSF for financial support. This paper covers the same substantive issues as (and hence replaces) “Flight to Quality and Collective Risk Management,” NBER WP # 12136.
Collective Risk Management in a Flight to Quality Episode
Version of Record online: 10 SEP 2008
© 2008 the American Finance Association
The Journal of Finance
Volume 63, Issue 5, pages 2195–2230, October 2008
How to Cite
CABALLERO, R. J. and KRISHNAMURTHY, A. (2008), Collective Risk Management in a Flight to Quality Episode. The Journal of Finance, 63: 2195–2230. doi: 10.1111/j.1540-6261.2008.01394.x
- Issue online: 10 SEP 2008
- Version of Record online: 10 SEP 2008
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