Todd Keister

Portrait of Todd Keister

Head of Money and Payments Studies
Money and Payments Studies
Federal Reserve Bank of New York
33 Liberty Street
New York, NY 10045

Todd.Keister@ny.frb.org

   
Allocating Losses: Bail-ins, Bailouts and Bank Regulation
with Yuliyan Mitkov
Journal of Economic Theory, Vol. 210, 2023

Should Central Banks Issue Digital Currency?
with Daniel Sanches
Review of Economic Studies, Vol. 90, 2023

Central Bank Digital Currency: Stability and Information
with Cyril Monnet
Journal of Economic Dynamics and Control, Vol. 142, 2022

The Economics of Digital Currencies: Progress and Open Questions
with Jonathan Chiu
Journal of Economic Dynamics and Control, Vol. 142, 2022
Introduction to the special issue: The Economics of Digital Currencies

Information, Privacy and Central Bank Digital Currency
with Cyril Monnet
in “Central Bank Digital Currency: Considerations, Projects, Outlook,” CEPR eBook, edited by D. Niepelt, 2021

The Liquidity Coverage Ratio and Monetary Policy Implementation
with Morten Bech
Banking Perspectives Quarter 2, 2018

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, edited by D. Evanoff, G. Kaufman, A. Leonello, and S. Manganelli, 2018
Reprinted in: Global Finance Journal, Vol. 39, 2019

Liquidity Regulation and the Implementation of Monetary Policy
with Morten Bech
Journal of Monetary Economics, Vol. 92, 2017

Expectations vs. Fundamentals-based Bank Runs: When Should Bailouts be Permitted?
with Vijay Narasiman
Review of Economic Dynamics, Vol. 21, 2016

Bailouts and Financial Fragility
Review of Economic Studies, Vol. 83, 2016

Optimal Banking Contracts and Financial Fragility
with Huberto Ennis
Economic Theory, Vol. 61, 2016

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

On the Economics of Committed Liquidity Facilities
with Morten Bech
in Liquidity and Funding Markets, edited by A. Heath, M. Lilley and M. Manning, Reserve Bank of Australia, 2013

Introduction to the Symposium on the Economics of Payments
with Gabriele Camera
Annals of Finance, Vol. 9, 2013

On the Liquidity Coverage Ratio and Monetary Policy Implementation
with Morten Bech

Bank for International Settlements Quarterly Review, December 2012

Discussion of: ‘Banking in a Matching Model of Money and Capital’ by V. R. Bencivenga and G. Camera
Journal of Money, Credit and Banking, Supplement to Vol. 43, 2011

Banking Panics and Policy Responses
with Huberto Ennis
Journal of Monetary Economics Vol. 57, 2010

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

Comment on: ‘A Model of a Systemic Bank Run’ by Harald Uhlig
Journal of Monetary Economics, Vol. 57: Carnegie-Rochester Conference Series on Public Policy, 2010

Bank Runs and Institutions: The Perils of Intervention
with Huberto Ennis
American Economic Review Vol. 99, 2009

Expectations and Contagion in Self-fulfilling Currency Attacks
International Economic Review Vol. 50, 2009.

Run Equilibria in the Green-Lin Model of Financial Intermediation
with Huberto Ennis
Journal of Economic Theory Vol. 144, 2009

Why are Banks Holding So Many Excess Reserves?
with Jamie McAndrews
Federal Reserve Bank of New York Current Issues in Economics and Finance, Vol. 15, No. 8, 2009

Bank Runs as Coordination Failures: An Experimental Study
with Rod Garratt
Journal of Economic Behavior & Organization, Vol. 71, 2009

Divorcing Money from Monetary Policy
with Antoine Martin and James McAndrews

Federal Reserve Bank of New York Economic Policy Review, Vol. 14, No. 2, 2008

Understanding Monetary Policy Implementation
with Huberto Ennis
Federal Reserve Bank of Richmond Economic Quarterly, Vol. 94, No. 3, 2008

Bank Runs and Investment Decisions Revisited
with Huberto Ennis
Journal of Monetary Economics, Vol. 53, 2006

Discount Window Policy, Banking Crises, and Indeterminacy of Equilibrium
with Gaetano Antinolfi
Macroeconomic Dynamics, Vol. 10, 2006

Optimal Fiscal Policy with Multiple Equilibria
with Huberto Ennis
Journal of Monetary Economics, Vol. 52, 2005

Government Policy and the Probability of Coordination Failures
with Huberto Ennis
European Economic Review, Vol. 49, 2005

Comparing Sunspot Equilibrium and Lottery Equilibrium Allocations: The Finite Case
with Rod Garratt and Karl Shell
International Economic Review, Vol. 45, 2004

Economic Growth, Liquidity, and Bank Runs
with Huberto Ennis
Journal of Economic Theory, Vol. 109, 2003

Equilibrium Prices when the Sunspot Variable is Continuous
with Rod Garratt, Cheng-Zhong Qin, and Karl Shell
Journal of Economic Theory, Vol. 107, 2002

A Characterization of Robust Sunspot Equilibria
with Rod Garratt
Journal of Economic Theory, Vol. 107, 2002

Monetary Stability and Liquidity Crises: The Role of the Lender of Last Resort
with Gaetano Antinolfi and Elisabeth Huybens
Journal of Economic Theory, Vol. 99, 2001

Money Taxes, Market Segmentation, and Sunspot Equilibria
Macroeconomic Dynamics, Vol. 5, 2001

Growth Dynamics and Returns to Scale: Bifurcation Analysis
with Gaetano Antinolfi and Karl Shell
Journal of Economic Theory, Vol. 96, 2001

Dollarization as a Monetary Arrangement for Emerging Market Economies
with Gaetano Antinolfi
Federal Reserve Bank of St. Louis Review, Vol. 83, 2001
reprinted in: (i) International Economics and International Economic Policy: A Reader, 4th Edition, Philip King, editor, McGraw-Hill, 2005; (ii) Problèmes économiques, No. 2.748, February 2002 (in French); (iii) Active economi, 2002 (in Turkish)

Money Taxes and Efficiency when Sunspots Matter
Journal of Economic Theory, Vol. 83, 1998

Options and Sunspots in a Simple Monetary Economy
with Gaetano Antinolfi
Economic Theory, Vol. 11, 1998

The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.
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