Publications & Papers by Robert M. Townsend

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Who Sees the Trades?

Rodney J. Garratt, Michael Junho Lee, Antoine Martin, Robert M. Townsend
November 2025

Public Ownership and Anti-Preemption

Juliano Assuncao, Sergey Mityakov, Robert M. Townsend
October 2025

Incentive-Compatible Unemployment Reinsurance for the Euro Area

Karaivanov, Alexander, Benoit Mojon, Luiz Pereira da Silva, Albert Pierres Tejada and Robert M Townsend
October 2025

Risk-taking over the Life Cycle: Aggregate and Distributive Implications of Entrepreneurial Risk

Dejanir H. Silva, Robert M. Townsend
October 2025

Information Frictions in Macroeconomics: The Legacy of Robert E. Lucas, Jr.

Journal of Monetary Economics,
Robert M. Townsend
October 2025

Bank Branching Strategies in the 1997 Thai Financial Crisis and Local Access to Credit

Marc Rysman, Robert M. Townsend, and Christoph Walsh
June 2025

Timing lumpy investments with informal bridge loans and clunky formal loans: Evidence from Thailand

Jain, Anil, Robert M. Townsend and Fan Wang
August 2024

The organisation of digital payments in India – lessons from the Unified Payments Interface (UPI)

SUERF Policy Note No. 355
Giulio Cornelli, Jon Frost, Leonardo Gambacorta, Sonalika Sinha and Robert M. Townsend
August 2024

Timing lumpy investments with informal bridge loans and clunky formal loans: Evidence from Thailand

Jain, Anil, Robert M. Townsend and Fan Wang
August 2024
Inequality and Globalization: Improving Measurement through Integrated Financial Accounts

Sources

More Info Ideas: Accounting for Inequality

Inequality and Globalization: Improving Measurement through Integrated Financial Accounts

Princeton University Press
Robert M. Townsend
July 2024
American Economic Review

Sources

IDB Research Insights
Development Economics

Propagation and Insurance in Village Networks

American Economic Review
Cynthia Kinnan, Krislert Samphantharak. Robert M. Townsend, Diego Vera-Cossio
January 2024

Optimal Design of Tokenized Markets

Michael Junho Lee, Antoine Martin, and Robert M. Townsend
January 2024

Zero Settlement Risk Token Systems

Michael Junho Lee, Antoine Martin, and Robert M. Townsend
January 2024

Interactions of Formal and Informal Insurance

Hong Ru and Robert M. Townsend
September 2023

Digital Safety Nets: A Roadmap

BIS WP No. 139
Karaivanov, Alexander, Benoit Mojon, Luiz A Pereira da Silva and Robert M Townsend
September 2023
Journal of Political Economy

Sources

Prepublication Version Online Appendix

Dynamic Bank Expansion: Spatial Growth, Financial Access, and Inequality

Journal of Political Economy, 131 (8): 2209-2278, 2023
Yan Ji, Songyuan Teng, Robert M. Townsend
August 2023

Tiered Intermediation in Business Groups

Yu Shi, Robert M. Townsend, Wu Zhu
July 2023
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From Micro to Macro Development

Journal of Economic Literature, 61 (2): 471-503, 2023
Francisco J. Buera, Joseph P. Kaboski, Robert M. Townsend
June 2023