KRISHNAMURTHY, ARVIND; NAGEL, STEFAN; ORLOV, DMITRY - In: Journal of Finance 69 (2014) 6, pp. 2381-2417
type="main" <title type="main">ABSTRACT</title> <p>To understand which short-term debt markets experienced “runs” during the financial crisis, we analyze a novel data set of repurchase agreements (repo), that is, loans between nonbank cash lenders and dealer banks collateralized with securities. Consistent with a run,...</p>