Publications
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"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
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"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 |
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"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 |
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"Financial Structure and Economic Activity." Robert M. Townsend. American Economic Review 73(5), December 1983: 895-911. PDF |
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"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 |
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"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 |
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"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 |
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"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 |
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"Market Anticipations, Rational Expectations, and Bayesian Analysis." Robert M. Townsend. International Economic Review 19(2), June 1978: 481-494. PDF |