Publications in professional journals and books
"The Social Value of Risk-free Government Debt," with Bruce Smith,
Annals of Finance, forthcoming.
"Currency Competition," The New Palgrave Dictionary of Economics,
Steven Durlauf and Lawrence Blume, eds., Second Edition, Macmillan Press,
London, U.K., forthcoming.
"Currency Competition: A Partial Vindication of Hayek," with Antoine
Martin, Journal of Monetary Economics, vol. 53, pp 2085-2111,
November 2006.
"The Conduct of Monetary Policy with a Shrinking Stock of Government Debt," with Bruce Smith,
Journal of Money, Credit, and Banking, August 2002, Part 2.
"Private Money, Settlement and Discounts: A Comment," Carnegie-Rochester
Conference on Public Policy, April 2001.
"A Model of Financial Fragility," with Roger Lagunoff, Journal of Economic
Theory, July/August 2001.
"The Evolution of Cash Transactions: Some Implications for Monetary Policy,"
with Bruce Smith, Journal of Monetary Economics, August 2000.
"Financial Fragility with Rational and Irrational Exuberance," with Roger
Lagunoff, Journal of Money, Credit, and Banking, August 1999, Part 2.
"The Effect of Open Market Operations in a Model of Intermediation and
Growth," with Bruce D. Smith, Review of Economic Studies, July 1998.
"Money, Banking, and Capital Formation," with Bruce D. Smith, Journal of
Economic Theory, March 1997.
"Money and Credit as Means of Payment," with Jeffrey Lacker, Journal of
Monetary Economics, August 1996.
"Short-Lived Agents and the Long-Lived Environment," with Andrew John, Rowena
Pecchenino, and David Schimmelpfennig, Journal of Public Economics, September
1995.
"Identifying Credit Crunches," with Raymond Owens, Contemporary Economic
Policy, April 1995.
"Credit Aggregates from the Flow of Funds Accounts," Reprinted in
Macroeconomic Data: A User's Guide, Third Edition, edited by
Roy H. Webb, Federal Reserve Bank of Richmond, Richmond, Virginia, 1994.
"The Macroeconomics of Dr. Strangelove," with Andrew John and Rowena
Pecchenino, American Economic Review, March 1993.
"Welfare-Improving Credit Controls," Journal of Monetary Economics,
October 1992.
"Transaction Costs and the Use of Cash and Credit," Economic
Theory, April 1992.
Federal Reserve Bank of Kansas City Economic Review articles
"Jobless
Recoveries and the Wait-and-See Hypothesis," with Aarti Singh, and Ashley Hodgson,
Fourth Quarter 2005.
(Summary |
Article PDF 170K)
"A Closer Look at Jobless Recoveries," with Aarti Singh, Second Quarter 2003.
(Summary |
Article
PDF 103K)
"Clicking with Dollars: How
Consumers Can Pay for Purchases from E-tailers," First Quarter 2002.
(Summary |
Article PDF 167K)
"Do Consumers Really Want Credit
Card Reform?" with Kathryn L. Combs, Third Quarter 1999.
(Summary |
Article
PDF 98K)
"Looking Forward:
The Role for Government In Regulating Electronic Cash," Fourth Quarter 1997.
(Summary |
Article
PDF130K)
Federal Reserve Bank of Kansas City Research Working Papers
"How and Why Do
Consumers Choose Their Payment Methods?" RWP 06-04. (PDF
332K | Abstract)
"Currency Competition: A Partial Vindication of Hayek,"
with Antoine Martin, RWP 03-04. (PDF,
587K | Abstract)
"The Social Value of Risk-free Government Debt," RWP 03-02.
(PDF,
919K | Abstract)
"The Conduct of Monetary Policy
With A Shrinking Stock of Government Debt," RWP 01-09.
(PDF, 357K | Abstract)
"Private Money, Settlement, and
Discount: A Comment," RWP 00-01. (PDF,
553K | Abstract)
"A Model of
Financial Fragility," with Roger D. Lagunoff, RWP 98-01.
(PDF,
348K | Abstract)
Other Federal Reserve publications
"The New Economic Geography: An Introduction to the Bank's 2006
Economic Symposium," The New Economic Geography: Effects and Policy
Implications, Federal Reserve Bank of Kansas City, 2007, pp.
xxi-xxxviii.
"The Big Picture of Small Business Owners," Cross Sections, Federal
Reserve Bank of Richmond, Winter 1994/95.
"Credit Aggregates from the Flow of Funds Accounts," with Milton Reid III, Economic
Quarterly, Federal Reserve Bank of Richmond, Summer 1993.
"Credit Rationing by Loan Size in Commercial Loan Markets," with Anne
Villamil, Economic Review, Federal Reserve Bank of Richmond, May/June 1992.
"Survey Evidence of Tighter Credit Conditions: What Does It Mean?" with
Raymond Owens, Economic Review, Federal Reserve Bank of Richmond, March/April 1991.
"Credit Controls: 1980," Economic Review, Federal
Reserve Bank of Richmond, November/December 1990.