We invite you to explore the papers supported directly by CFSP as well as key papers in the field of financial systems and poverty that were written by Consortium researchers.

Joseph Kaboski, Robert M. Townsend

Winner, 2012 Frisch Medal in Econometrics. This paper uses a structural model to understand, predict, and evaluate the impact of...

Recent Papers

Douglas Diamond, Raghuram Rajan
The Journal of Finance | 55 | 6 | 2431-2465 | 2000

Banks can create liquidity precisely because deposits are fragile and prone to runs. Increased...

Douglas Diamond, Philip Dybvig
Federal Reserve Bank of Minneapolis Quarterly Review | 24 | 1 | 14-23 | 2000

This article develops a model which shows that bank deposit contracts can provide allocations...

Anil Kashyap, Jeremy Stein
American Economic Review | 90 | 3 | 407-428 | 2000

We study the monetary-transmission mechanism with a data set that includes quarterly...

Charles M. Kahn, William Roberds
Economic Review | 1999 | 3 | 30-39 | 1999

Most people are familiar with retail payments systems such as checks and credit cards. Less...

Douglas Diamond

This paper develops a theory of financial intermediation based on minimizing the cost of...