Gary Gorton
Gary Bernard Gorton (born c. 1951) is an American economist who currently serves as the Frederick Frank Class of 1954 Professor of Finance at Yale School of Management. He is known for his theory on the role of repurchase agreements on the 2008 financial crisis.[1]
As one of the top economists in the world, Gorton is frequently mentioned as a possible recipient of the Nobel Prize in Economics.[2][3]
Life and career
Gorton earned a B.A. in Chinese Language and Literature from Oberlin College in 1973. He has three Master's Degrees: a M.A. in Chinese Studies from University of Michigan (1974), a M.A. in Economics from Cleveland State University (1977), and a M.A. in Economics from the University of Rochester (1980). He earned his Ph.D. in economics from University of Rochester in 1983. His dissertation was titled "Banking Panics" with the economists Robert Barro and Robert King on the committee.[4]
In his book titled "Slapped by the Invisible Hand: The Panic of 2007," Gorton wrote in May 2009 that the rise of the unregulated shadow banking system was a primary cause of the subprime mortgage crisis.[5][6]
As an expert in stock and futures markets, banking, and asset pricing, he is an editor of the Review of Economic Studies.
References
- ↑ Gorton, Gary (August 2009). "Securitized Bank and the Run on Repo" (PDF).
- ↑ "Economist Rankings at IDEAS". ideas.repec.org. Retrieved 2016-05-07.
- ↑ Cronin, Brenda. "Handicapping the 2013 Economics Nobel". WSJ. Retrieved 2016-05-07.
- ↑ "Gary Gorton | Yale School of Management". faculty.som.yale.edu. Retrieved 2016-05-07.
- ↑ Gary Gorton-NBER and Yale-Slapped in the Face by the Invisible Hand: Banking and the Panic of 2007-Updated May 2009
- ↑ Behind AIG's Fall, Risk Models Failed to Pass Real-World Test. Wall Street Journal. Retrieved 10 September 2015.
External links
- Gary Gorton homepage via Yale University
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