Wagner is at the European Banking Centre, TILEC, CentER, and Department of Economics, Tilburg University. I thank the Editor (Campbell R. Harvey), an associate editor, an anonymous referee, participants at seminars at the Bank of England, the Bank for International Settlements, Bangor Business School, Cass Business School, the CPB, Frankfurt University, University of Groningen, ISCTE Lisbon, University of Porto, Tilburg University, University of Illinois at Urbana-Champaign, and conference participants at the AFA 2010, the CEPR Summer Symposium Gerzensee 2009, the FIRS 2010 Conference, the Chulalongkorn Accounting and Finance Symposium 2009, the EFA 2009, the MTS-LSE Conference on Financial Markets 2009, the Skinance 2009 Conference, the Conference on Liquidity and Pricing in Konstanz 2009, and the Austrian National Bank Conference on Financial Fragility for comments. I also thank John Boyd, Falko Fecht (discussant), Thierry Foucault (discussant), Hans Gersbach, Pab Jotikasthira (discussant), Ron Kaniel (discussant), Nobuhiro Kyotaki, Jun Liu (discussant), John Moore, Axel Adam-Müller (discussant), Alexander Stomper (discussant), Harald Uhlig, and Tanju Yorulmazer (discussant) for comments. I especially thank Javier Suarez for discussions on this project. An earlier version of the paper was circulated under the title “The Risk of Joint Liquidation and Portfolio Choice: Diversity Instead of Diversification.”
Systemic Liquidation Risk and the Diversity–Diversification Trade-Off
Version of Record online: 19 JUL 2011
© 2011 the American Finance Association
The Journal of Finance
Volume 66, Issue 4, pages 1141–1175, August 2011
How to Cite
WAGNER, W. (2011), Systemic Liquidation Risk and the Diversity–Diversification Trade-Off. The Journal of Finance, 66: 1141–1175. doi: 10.1111/j.1540-6261.2011.01666.x
- Issue online: 19 JUL 2011
- Version of Record online: 19 JUL 2011
Options for accessing this content:
- If you are a society or association member and require assistance with obtaining online access instructions please contact our Journal Customer Services team.
- If your institution does not currently subscribe 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.
Login via OpenAthens
Search for your institution's name below to login via Shibboleth.
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!