Publications

"Arrow-Debreu Programs as Microfoundations for Macroeconomics." Robert M. Townsend. In Advances in Economic Theory: The Fifth World Congress, Truman F. Bewley, ed., Cambridge University Press, 1987. PDF

"Asset Return Anomalies in a Monetary Economy." Robert M. Townsend. Journal of Economic Theory 41(5), April 1987: 219-47. ABSTRACT PDF

"Circulating Private Debt: An Example with a Coordination Problem." Robert M. Townsend and Neil Wallace. In Contractual Arrangements for Intertemporal Trade, Edward C. Prescott and Neil Wallace, eds., University of Minnesota Press, 1987. ABSTRACT PDF

"Economic Organization with Limited Communication." Robert M. Townsend. American Economic Review 77(5), December1987: 954-970. ABSTRACT PDF
"Taking Pure Theory to Data: Arrow's Seminal Contribution." Robert M. Townsend. In Arrow and the Ascent of Modern Economic Theory, George Feiwel, ed., Macmillan, 1987. PDF

"Financial Structures as Communication Systems." Robert M. Townsend. In Technological Innovations and the Monetary Economy, Chapter 5, Collin Lawrence and Robert Shay, eds., Ballinger, subsidy of Harper & Row, April 1986: 163-178. PDF

"General Competitive Analysis in an Economy with Private Information." Edward C. Prescott and Robert M. Townsend. International Economic Review 25(1), February 1984: 1-20. PDF

"Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard." Edward C. Prescott and Robert M. Townsend. Econometrica 52(1), January 1984: 21-45. PDF

"Equilibrium Theory with Disparate Expectations and Learning: Some Issues and Methods." Robert M. Townsend. In Individual Forecasting and Aggregate Outcomes: 'Rational Expectations' Examined, Edmund S. Phelps and Roman Frydman, eds., Cambridge University Press, 1983. PDF

"Financial Structure and Economic Activity." Robert M. Townsend. American Economic Review 73(5), December 1983: 895-911. PDF

"Forecasting the Forecasts of Others." Robert M. Townsend. Journal of Political Economy 91(4), August 1983: 546-587. ABSTRACT PDF

"Theories of Intermediated Structures." Robert M. Townsend.  In the Carnegie-Rochester Conference Series on Public Policy 18, 1983, Money, Monetary Policy and Financial Institutions, a supplemental series to the Journal of Monetary Economics. PDF

"Optimal Multiperiod Contracts and the Gain from Enduring Relationships under Private Information." Robert M. Townsend. Journal of Political Economy 90(6), December 1982: 1166-1186.ˇ ABSTRACT PDF

"Theories of Contract Design and Market Organization: Conceptual Bases for Understanding Futures Markets." Robert M. Townsend. Prepared for the Conference on the Industrial Organization of Futures Markets: Structure and Conduct, Columbia University, November 1982, Lexington Books. PDF

"Resource Allocation under Asymmetric Information." Milton Harris and Robert M. Townsend. Econometrica 49(1), January 1981: 33-69. ABSTRACT PDF

"Equilibrium under Uncertainty: Multi-Agent Statistical Decision Theory." Robert M. Townsend and Edward C. Prescott. In Studies in Bayesian Econometrics and Statistics in Honor of Harold Jeffreys, Arnold Zellner, ed., North-Holland, 1980: 169-194. PDF

"Models of Money with Spatially Separated Agents." Robert M. Townsend. In Models of Monetary Economies, John Kareken and Neil Wallace, eds., Federal Reserve Bank of Minneapolis, 1980: 265-303. PDF

"Optimal Contracts and Competitive Markets with Costly State Verification." Robert M. Townsend. Journal of Economic Theory 21(2), October 1979: 265-293. PDF

"Intermediation with Costly Bilateral Exchange." Robert M. Townsend.  Review of Economic Studies XLV (3), October 1978: 417-425. PDF

"Market Anticipations, Rational Expectations, and Bayesian Analysis." Robert M. Townsend. International Economic Review 19(2), June 1978: 481-494. PDF

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