Completed Papers
The Emergence and Future of Central Counterparties (joint with Cyril Monnet)
The Limits of Central Counterparty Clearing: Collusive Moral Hazard and Market Liquidity
Credit Ratings and Market Stability -- The Role of Market Structure and Disincentives to Acquire Information (joint of Jonathan Chiu) (Additional Material)
The Economics of Cryptocurrencies -- Bitcoin and Beyond (joint with Jonathan Chiu)
What Drives Bitcoin Fees? Implications for Bitcoin's Long-run Sustainability (joint with Collin Brown and Jonathan Chiu)
Work in Progress
Customized vs. Standardized Contracts -- What can be centrally cleared? (joint with Cyril Monnet)
Platform-based Digital Currenies (joint with Jonathan Chiu)
Retired Papers*
Solvency Regulation for Insurance against Large (Aggregate) Risk (joint with Antoine Martin and Jim MacGee)
Optimal Collateral Policies for Central Counterparties (joint with Cyril Monnet)
A Note on Incentive Feasibility when Enforcement is a Decision Variable
On the Modigliani-Miller Theorem in Infinite Horizon Incomplete Markets Economies
* (Please contact me to obtain a version of these papers if interested.)