The rise of new and proposed monetary vehicles, including CBDC, stablecoins, payment
service providers etc., are unprecedented. An important question for central banks is the extent …

We use panel data from the Brazilian tax collection authority to examine the effects of a major
incentive reform instituted in 1989 to improve tax enforcement. Beforehand, fine collections …

Low-revenue equilibria allow participants in an auction to obtain goods at prices lower than
would prevail in a competitive market. These outcomes are generated as perfect equilibria of …

Foreign exchange transactions are subject to a unique type of settlement risk. This risk ultimately
stems from the difficulty of coordinating separate settlements in two different currencies. …

… Author links open overlay panel HyejinPark a Charles M.Kahn b … In the model we have
simply assumed that the two parties never meet; in Kahn and Park (2016) we assume that they …

Kahn holds the Bailey Memorial Chair of Finance and Economics at the University of Illinois.
Roberds is a vice president and economist in the Atlanta Fed’s research department. They …

This paper studies rehypothecation, a practice in which banks or broker-dealers re-use the
collateral pledged by their clients for their own trades and borrowing. The model explains …

FoR MUc o THE TwENTIETH CENTURY, cooperative arrangements among banks have been
peripheral to bank regulation. Since the establishment of the Federal Reserve System and …

While the primary purpose of this article is to discuss the Idaho Workmen's Compensation
Act, including decisions interpreting it, it may be helpful to give a brief account of workmen's …

A nine-membered-ring lactam system (!) has been chosen as a framework for the development
of non-peptide molecules to mimic structural features of peptide and protein 8-turns. The …