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We present a model of central bank collateralized lending to study the optimal choice of the haircut policy. We show that a lending facility provides a bundle of two type[...]

Code and data to replicate the results of the article.

Code for peer-reviewed article published in Review of Economic Dynamics. Paper published online June 7, 2019.[...]

Code and data to replicate the results of the article.

Code for peer-reviewed article published in Review of Economic Dynamics. Paper published online October 20, 2[...]

This paper studies the effects of monetary policy in an inventory theoretic model of money demand. In this model, agents keep inventories of money, despite the fact that [...]

This paper develops a search-theoretic model to study the interaction between banking and monetary policy and how this interaction affects the allocation and welfare. Reg[...]

The generation and implementation of ideas, or knowledge, is crucial for economic performance. We study this process in a model of endogenous growth with frictions. Produ[...]

This paper studies the long run welfare costs of inflation in a micro-founded model with trading frictions and costly liquidity management. Agents face uninsurable idiosy[...]

This paper develops a model of settlement system to study the endogenous structure of settlement networks, and the welfare consequences of clearing agent failure. The equ[...]

Payments systems play a fundamental role in an economy by providing the mechanisms through which payments arising from transactions can be settled. The existing literatur[...]

Replication Data and Code for: "The Economics of Cryptocurrencies -- Bitcoin and Beyond"

Replication data for peer-reviewed article published in Canadian Journal [...]