Featured Working Papers
Townsend Thai Project
Mapping Financial Institutions in Emerging Markets
Consortium on Financial Systems and Poverty
Running since 1997 and continuing today, the Townsend Thai Project has tracked millions of observations about the economic activities of households and institutions in rural and urban Thailand. The project represents one of the most extensive datasets in the developing world. Chronicles from the Field by Robert M. Townsend, Sombat Sakunthasathien, and Rob Jordan offers an account of the design and implementation of this unique panel data survey. It tells the story not only of the origins and operations of the project but also of the challenges and rewards that come from a search to understand the process of a country’s economic development. In an interview, Robert Townsend provides an update on this innovative project.
Robert M. Townsend, along with co-authors Thomas Eisenbach and David Lucca, outline a framework for thinking about banking supervision and its relation to regulation. The blog post is the second in the "Understanding Bank Supervision" series by the New York Federal Reserve Bank's Liberty Street Economics.
"While bank regulation and supervision are the two main components of banking policy, the difference between them is often overlooked and the details of supervision can appear shrouded in secrecy. In this post, which is based on a recent staff report, we provide a framework for thinking about supervision and its relation to regulation. We then use data on supervisory efforts of Federal Reserve bank examiners to describe how supervisory efforts vary by bank size and risk, and to measure key trade-offs in allocating resources."