"A Market Based Solution for Fire Sales and Other Pecuniary Externalities" Weerachart T. Kilenthong and Robert M. Townsend. Journal of Political Economy, forthcoming; also NBER Working Paper No. 22056, 2016. Abstract PDF Online Appendix
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"Curbing Shocks to Corporate Liquidity: The Role of Trade Credit" Niklas Amberg, Tor Jacobson, Erik von Schedvin, Robert M. Townsend. Working paper, 2020; see also NBER Working Paper No. 22286, 2016. Abstract PDF
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"Enhanced Informal Networks: Costly State Verification and the Village Fund Intervention" Hong Ru and Robert M. Townsend.Working Paper, 2020. Abstract PDF
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"Insurance and Propagation in Village Networks" Cynthia Kinnan, Krislert Samphantharak, Robert Townsend and Diego Vera-Cossio, 2020; see also PIER Discussion Paper No. 115, 2019. Abstract PDF
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"Public Ownership and Anti-Preemption" Juliano Assuncao, Sergey Mityakov, and Robert M. Townsend. Working Paper, 2020. Abstract PDF
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"Who Sees the Trades? The Effect of Information on Liquidity in Inter-dealer Markets." Rodney J. Garratt, Michael Junho Lee, Antoine Martin and Robert M. Townsend. Working Paper, 2019. Abstract PDF
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"Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and the Distribution of Income." Era Dabla-Norris, Yan Ji, Robert M. Townsend and D. Filiz Unsal, 2019. See also CEPR Discussion Paper No. 11742, 2017; NBER Working Paper No. 20821, 2015. Abstract PDF
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"Distributed Ledgers: Innovation and Regulation in Financial Infrastructure and Payment Systems" Townsend, Robert M. Working Paper, 2019. Abstract, Link to PDF, Online Appendix
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"Financial Centrality and the Value of Key Players" Chandrasekhar, Arun G., Robert M. Townsend and Juan Pablo Xandri. NBER Working Paper No. 24406, 2019. Abstract, Link to PDF
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"Internal Capital Markets in Business Groups and the Propagation of Credit Supply Shocks" Yu Shi, Robert M. Townsend and Wu Zhu. IMF Working Paper WP/19/111, 2019. Abstract PDF
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"Optimal Contracting and Spatial Competition among Financial Service Providers." Gustavo Joaquim, Robert M. Townsend and Victor Zhorin. Working Paper, 2019. Abstract PDF
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"Rise of Bank Competition: Evidence from Banking Deregulation in China." Haoyu Gao, Hong Ru, Robert M. Townsend, Xiaoguang Yang. NBER Working Paper No. 25795, 2019. Abstract PDF
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"The Impact of Regional Isolationism: Disentangling Real and Financial Factors." Archawa Paweenawat and Robert M. Townsend. Working Paper, 2019. Abstract PDF
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"The Village Money Market Revealed: Credit Chains and Shadow Banking" Parit Sripakdeevong and Robert M. Townsend. Working Paper, 2019. Abstract PDF
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"Risk-taking over the Life Cycle: Aggregate and Distributive Implications of Entrepreneurial Risk" Dejanir H. Silva and Robert M. Townsend. Working Paper, 2018. Abstract PDF
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Forecasting When it Matters: Evidence from Semi-Arid India. Xavier Gine, Robert M. Townsend, and James Vickery. Working paper, 2015, Abstract PDF.
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"A Market Based Solution to Price Externalities: A Generalized Framework." Weerachart T. Kilenthong and Robert M. Townsend. NBER Working Paper No. 20275, 2014. Abstract PDF
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"Segregated Security Exchanges with Ex Ante Rights to Trade: A Market-Based Solution to Collateral-Constrained Externalities." Weerachart Tee Kilenthong and Robert M. Townsend. NBER Working Paper No. 20086, 2014. Abstract PDF
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"Spatial Competition among Financial Service Providers and Optimal Contract Design." Robert M. Townsend and Victor V. Zhorin, Working Paper, 2014. Abstract PDF
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