Gary B. Gorton

Frederick Frank Class of 1954 Professor of Management & Professor of Finance

Professor Gary Gorton
Faculty Directory

Gary B. Gorton is The Frederick Frank Class of 1954 Professor of Finance at the Yale School of Management, which he joined in August 2008. Prior to joining Yale, he was the Robert Morris Professor of Banking and Finance at The Wharton School of the University of Pennsylvania, where he taught from 1983 to 2008. Dr. Gorton has done research in many areas of finance and economics, including both theoretical and empirical work. He is the author of Slapped by the Invisible Hand: The Panic of 2007 (Oxford University Press) and Misunderstanding Financial Crises (Oxford University Press).

Dr. Gorton has consulted for the U.S. Board of Governors of the Federal Reserve System, various U.S. Federal Reserve Banks, the Bank of England, the Bank of Japan, and the Central Bank of Turkey. He was a consultant to AIG Financial Products from 1996 to 2008.

Dr. Gorton received his doctorate in economics from the University of Rochester. In the field of economics, he received master's degrees at the University of Rochester and Cleveland State University, and also received a master's degree in Chinese Studies from the University of Michigan.


Community Profile

One element of the course is to teach students how to think clearly about finance, and that involves learning a bunch of tools.


  • PhD, University of Rochester, 1983
  • MA, University of Rochester, 1980
  • MA, Cleveland State University, 1977
  • MA, University of Michigan, 1974
  • BA, Oberlin College, 1973


  • Capital Markets MGT 947

Selected Books

Selected Articles

Investor Interest and the Returns to Commodity Investing

K.G. Rouwenhorst, G. Bhardwaj, and G. Gorton
Journal of Portfolio Management

Selected Working Papers


  • Research Associate, National Bureau of Economic Research, since March 1990
  • Member, New York Federal Reserve Bank Financial Advisory Roundtable, since January 2009