Central Bank Publications:

The Interplay between Liquidity Regulation, Monetary Policy Implementation and Financial Stability, in Achieving Financial Stability: Challenges to Prudential Regulation, proceedings of the 19th Annual International Banking Conference at the Federal Reserve Bank of Chicago, ed. by D. Evanoff, G. Kaufman, A. Leonello, and S. Manganelli (2018), 173-193.

Reprinted in: Global Finance Journal, forthcoming (2018).

See also: Presentation slides

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.