Arvind Krishnamurthy is the Harold Stuart Professor of Finance at the Kellogg School of Management, Northwestern University and a Research Associate of the NBER. He received his B.S in Economics and Electrical Engineering from the University of Pennsylvania in 1990 and his Ph.D. in Financial Economics from the Massachusetts Institute of Technology in 1998. His research is on financial crises, liquidity, and how central bank policy can alleviate crises. He has studied international financial crises in emerging markets. He has also studied liquidity in U.S. bond markets and developed models of why liquidity falls during a crisis. He has been a visiting scholar at the IMF and the Fed. He is currently an Associate Editor at the Journal of Finance.