Central Bank Publications:

The Interplay between Liquidity Regulation, Monetary Policy Implementation and Financial Stability, forthcoming in Achieving Financial Stability: Challenges to Prudential Regulation, proceedings of the 19th Annual International Banking Conference, Federal Reserve Bank of Chicago, November 3-4, 2016.

Stability of Funding Models: An Analytical Framework, with Thomas Eisenbach, James McAndrews, and Tanju Yorulmazer, Economic Policy Review, Federal Reserve Bank of New York, Vol. 20, No. 1 (January 2014), 29-47.

On the Economics of Committed Liquidity Facilities, with Morten Bech, in Liquidity and Funding Markets, ed. by A. Heath, M. Lilley and M. Manning, Reserve Bank of Australia (2013) 183-206.

On the Liquidity Coverage Ratio and Monetary Policy Implementation, with Morten Bech, Quarterly Review, Bank for International Settlements (December 2012), 49-61.

On the Fundamental Reasons for Bank Fragility, with Huberto Ennis, Economic Quarterly, Federal Reserve Bank of Richmond, Vol. 96, No. 1 (2010), 35-58.

Why Are Banks Holding So Many Excess Reserves? with James McAndrews, Current Issues in Economics and Finance, Federal Reserve Bank of New York, Vol. 15, No. 8 (December 2009).  Revised version of Staff Report No. 380.

Understanding Monetary Policy Implementation, with Huberto Ennis, Economic Quarterly, Federal Reserve Bank of Richmond, Vol. 94, No. 3 (Summer 2008), 235-263.

See also: Technical Appendix to the paper

Divorcing Money from Monetary Policy, with Antoine Martin and Jamie McAndrews, Economic Policy Review, Federal Reserve Bank of New York, Vol. 14, No. 2 (September 2008), 41-56.

Dollarization as a Monetary Arrangement for Emerging Market Economies, with Gaetano Antinolfi, Federal Reserve Bank of St. Louis Review, Vol. 83 (November/December 2001), 29-39.

Liberty Street Economics Blog:

Interest on Excess Reserves and Cash "Parked" at the Fed, with Gaetano Antinolfi, August 27, 2012.

Corridors and Floors in Monetary Policy, April 4, 2012.

Cash Assets of Foreign Banks: An Example of Seasonal Adjustment Gone Awry, with Adam Copeland and Parinitha Sastry, January 9, 2012.

Why is There a "Zero Lower Bound" on Interest Rates?, November 16, 2011.