Publications & Papers by Robert M. Townsend

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Inequality and Globalization: Improving Measurement Through Integrated Financial Accounts

Forthcoming from Princeton University Press
Archawa Paweenawat and Robert M. Townsend
May 2023
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Technologies that replace a 'central planner'

AEA Papers and Proceedings, 113 (May): 257-262, 2023
Robert M. Townsend and Nicolas XY. Zhang
May 2023

Sources

https://revista.liftlab.com.br/lift/article/view/120

Brazil’s Central Bank Digital Currency: Improving Financial Infrastructure with Programmability

LIFT Papers No. 5
Victor Orestes and Robert M. Townsend
April 2023

Rise of Bank Competition: Evidence from Banking Deregulation in China

Haoyu Gao, Hong Ru, Robert M. Townsend, Xiaoguang Yang
March 2023

Sources

News Release on LinkedIn IMF Working Paper

A Multi-Currency Exchange and Contracting Platform

IMF Working Paper No. WP/22/217
Tobias Adrian, Federico Grinberg, Tommaso Mancini-Griffoli, Robert M. Townsend, and Nicolas Zhang
November 2022
website

Sources

Published Paper Open Access Prepublication version

The Village Money Market Revealed: Financial Access and Credit Chain Links Between Formal and Informal Sectors

Annual Review of Financial Economics, 14 (Nov): 1-20, 2022
Parit Sripakdeevong, Robert M. Townsend
November 2022

Innovative Financial Designs Utilizing Homomorphic Encryption and Multiparty Computation

Robert M. Townsend and Nicolas Zhang
August 2022

Liquidity, Financial Centrality and the Value of Key Players

Chandrasekhar, Arun G., Robert M. Townsend, Juan Pablo Xandri
July 2022
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Resource Allocation in Bank Supervision: Trade-offs and Outcomes

Journal of Finance, 77 (3): 1685-1736
Thomas M. Eisenbach, David O. Lucca, and Robert M. Townsend
June 2022

Optimal Design of Tokenized Markets

Michael Junho Lee, Antoine Martin, and Robert M. Townsend
February 2022
Journal of Political Economy

Sources

Online Appendix Prepublication pdf

A Market Based Solution for Fire Sales and Other Pecuniary Externalities

Journal of Political Economy, 129 (4): 981–1010
Weerachart T. Kilenthong and Robert M. Townsend
January 2021
Distributed Ledgers: Design and Regulation of Financial Infrastructure and Payment Systems

Sources

Open Access Online Appendix

Distributed Ledgers: Design and Regulation of Financial Infrastructure and Payment Systems.

MIT Press
Robert M. Townsend
October 2020

Sources

Prepublication PDF International Finance Discussion Papers 1280

The Economics of Platforms in a Walrasian Framework

Economic Theory, 71 (3): 877–924
Anil Jain, Robert M. Townsend
August 2020

Curbing Shocks to Corporate Liquidity: The Role of Trade Credit

Journal of Political Economy, 129 (1): 182-242
Niklas Amberg, Tor Jacobson, Erik von Schedvin, Robert M. Townsend
June 2020

Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and the Distribution of Income.

Journal of Monetary Economics, 117: 1-18
Era Dabla-Norris, Yan Ji, Robert M. Townsend, D. Filiz Unsal
February 2020

Sources

Supplemental Appendix

Optimal Contracting and Spatial Competition among Financial Service Providers

Gustavo Joaquim, Robert M. Townsend, Victor Zhorin
May 2019

The Impact of Regional Isolationism: Disentangling Real and Financial Factors

Archawa Paweenawat, Robert M. Townsend
April 2019

Sources

Appendix

Distributed Ledgers: Innovation and Regulation in Financial Infrastructure and Payment Systems

Robert M. Townsend
April 2019