Econ 810: Money and Banking
Instructor: David Andolfatto

Warren Buffet on gold Ivanhoff Apr 2013.

Chain reaction Espinosa (undated).

Bitcoin: a peer-to-peer electronic cash system, Nakamoto 2009.
Demystifying incentives in the consensus computer Luu, Teutsch, Kulkarni, Saxena (undated).
Money and payments, or how we move marbles MacroMania Feb 2015.
Fedcoin: on the desirability of a government cryptocurrency Macromania Feb 2015.
Which fedcoin? Sams Feb 2015.
Bitcoin and blockchain: two revolutions for the price of one? Brown 2015.
Public and private blockchains Buterin Aug 2015.
The state of blockchains Kulman Aug 2015.

Banking and Liquidity Crises
Financial fragility Andolfatto 2015.

Notes on Jacklin 1987 Andolfatto 2008.
Optimal financial crises Allen and Gale JF 1998.
Modelling financial instability: a survey of the literature Lai 2002.
Financial intermediaries and markets Allen and Gale 2003.
States, banks and the financing of the economy: monetary policy and regulatory perspectives Ballling, Gnan and Jackson (eds) 2013.
Why do banks want our deposits? Hint: it’s not to make loans Brown Oct 2014.
Liquidity crises Lucas and Stokey, May 2011.
On the social usefulness of fractional reserve banking Chari and Phelan 2013.
Information based bank runs in a monetary economy Loewy 1998.
Banking with nominal deposits and inside money Skeie 2008.
Why do markets freeze? Leitner 2011.
Payments and liquidity under adverse selection Rocheteau 2011.
The liquidity time bomb Roubini May 2015.
Repo runs: evidence from the tri-party repo market Copeland, Martin, Walker 2014.
Repo and securities lending Adrian, Begalle, Copeland, Martin 2013.
Understanding liquidity fees and redemption gates Blackrock Securities 2013.
Bank capital regulation in contemporary banking theory Santos 2001.

International Monetary Systems

Optimal Currency Areas
A theory of optimum currency areas Mundell 1968.

Mankiw and conventional wisdom on Europe Cochrane Jul 2015.
The downside of labor mobility Krugman Aug 2015.
Labor mobility within currency unions Farhi and Werning 2014.
Lessons from the tequila crisis Mishkin 1999.

European Monetary Union
The euro: love it or leave it? Eichengreen, May 2010.
Doubts grow over peripheral eurozone nations Financial Times, Nov 2009.
Sovereign debt markets in turbulent times IMF working paper, Dec 2013.
A new deal for debt overhangs? Rogoff, Aug 2015.
Europe’s fiscal union envy is misguided Financial Times, Jul 2015.
The role of currency in the global financial crisis Kinsella, Jul 2015.
The birth of European macroeconomics Kang and Mody Jul 2015.
Greece and Europe: Is Europe holding up its end of the bargain? Bernanke, Jul 2015.

Global Imbalances
Balance of payments in the European periphery FRB SF, Jan 2013.
Is Germany’s trade surplus a problem? MacroMania, Aug 2015.
Germany is being crushed by its export obsession Posen, Sep 2013.
This isn’t the Chinese capital account liberalization you were looking for Keohane, Jul 2015.

Capital controls gum up Greek businesses struggling to survive, Aug. 2015.  
Greece’s ills require a banking fix, Atkeson and Cochrane, Aug. 2015.
Squaring the Eurozone’s vicious circle, Garicano and Reichlen, Jan. 2014.
Germany, Greece and the future of Europe, Sachs, Jul. 2015.

Monetary History
Fetters of gold and paper Eichengreen and Temin, 2010.
A theory of disagreement in bargaining Crawford, 1982.

Global games: theory and applications Morris and Shin, 2006.
Bubbles Brunnermeier, undated.
Bailout tracker.
Higher order expectations Shin 2005.

Some music to help you relax while you’re studying.