Diathesis-stress models of depression suggest that low self-esteem and stressful events jointly influence the development of depressive affect. More specifically, the self-esteem buffering hypothesis states that, in the face of challenging life circumstances, individuals with low self-esteem are prone to depression because they lack sufficient coping resources, whereas those with high self-esteem are able to cope effectively and consequently avoid spiraling downward into depression. The authors used data from 3 longitudinal studies of adolescents and young adults, who were assessed 4 times over a 3-year period (Study 1; N = 359), 3 times over a 6-week period (Study 2; N = 249), and 4 times over a 6-year period (Study 3; N = 2,403). In all 3 studies, low self-esteem and stressful events independently predicted subsequent depression but did not interact in the prediction. Thus, the results did not support the self-esteem buffering hypothesis but suggest that low self-esteem and stressful events operate as independent risk factors for depression. In addition, the authors found evidence in all 3 studies that depression, but not low self-esteem, is reciprocally related to stressful events, suggesting that individuals high in depression are more inclined to subsequently experience stressful events.