Skip to main content

Vol. 92, No. 6
Posted 2010-11-01

Haircuts

by Gary Gorton and Andrew Metrick

"When confidence is lost, liquidity dries up." The authors investigate the meaning of "confidence" and "liquidity" in the context of the recent financial crisis, which they maintain is a manifestation of an age-old problem with private money creation: banking panics.



Related Content


Subscribe to our newsletter


Follow us

Twitter logo Google Plus logo Facebook logo YouTube logo LinkedIn logo
Back to Top