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Anat Admati

Anat R. Admati is the George G.C. Parker Professor of Finance and Economics at the Graduate School of Business at Stanford University. She has written extensively on information dissemination in financial markets, trading mechanisms, portfolio management, financial contracting, and, most recently, on corporate governance and banking. In recent years, Admati has been active in the policy debate on financial stability and regulation. In addition to a number of research papers, policy comments and short pieces, she is the author, with Martin Hellwig, of the book The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It (Princeton University Press, March 2013, see bankersnewclothes.com), which Martin Wolf hailed as “the most important book to have come out of the financial crisis” and Kenneth Rogoff described as “the most important book about banking in a very long time.” In 2014 Admati was named as one of the Time 100 most influential people in the world, Foreign Policy Magazine 100 global thinkers and 50 world thinkers by Prospect Magazine.

Admati received her BSc from the Hebrew University in Jerusalem, her MA, MPhil and PhD from Yale University, and was awarded honorary doctorate from University of Zurich. She is a fellow of the Econometric Society, the recipient of multiple fellowships, research grants, and paper recognition, and is a past board member of the American Finance Association. She has served on a number of editorial boards and is currently a member of the FDIC Systemic Resolution Advisory Committee and the CFTC Market Risk Advisory Committee.

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Making Financial Regulations Work for Society

Article | May 8, 2015

Remarks from Finance & Society May 6, 2015

The Persistence of a Reckless Banking System

Paper Conference paper | | Apr 2014

The fall of 2008 was scary. For most people, the aftermath of Lehman Brothers’ bankruptcy resembled a major earthquake with strong aftershocks. Official narratives have promoted the image of the crisis as a rare, unpreventable and unforeseen natural disaster, the “100-year flood.” Policymakers emphasize the extraordinary measures they have taken to prevent the system from collapsing and to support recovery since.

If Not Now, When? Financial Reform Must Not Await Another Crisis

Paper Conference paper | | Apr 2013

In the first ten chapters of our book, The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, we discuss banking and the economics of funding as it applies to banks.

Debt Overhang and Capital Regulation

Paper Conference paper | | Apr 2012

We analyze shareholders’ incentives to change the leverage of a firm that has already borrowed substantially. As a result of debt overhang, shareholders have incentives to resist reductions in leverage that make the remaining debt safer.

Featuring this expert

Our Banking System is a Giant House of Cards

Article | Apr 21, 2015

It Could Fall On You.

The Failure of Financial Regulation

Video | Sep 24, 2013

Anat Admati, author of The Bankers’ New Clothes: Whats Wrong with Banking and What to Do about It, talks about how to fix our broken banking sector.