Jonathan Chiu - Latest

• Liquidity, Redistribution, and the Welfare Cost of Inflation

  Staff Working Paper 2007-39 Jonathan Chiu, Miguel Molico

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

  Content Type(s): Staff research, Staff working papers Topic(s): Inflation: costs and benefits JEL Code(s): E, E4, E40, E5, E50
• June 21, 2007

  Modelling Payments Systems: A Review of the Literature

  Financial System Review - June 2007 Jonathan Chiu, Alexandra Lai

  Content Type(s): Publications, Financial System Review articles

• Modelling Payments Systems: A Review of the Literature

  Staff Working Paper 2007-28 Jonathan Chiu, Alexandra Lai

  Payments systems play a fundamental role in an economy by providing the mechanisms through which payments arising from transactions can be settled. The existing literature on the economics of payments systems is large but loosely organized, in that each model uses a distinct set-up and sometimes a distinct equilibrium concept.

  Content Type(s): Staff research, Staff working papers Topic(s): Payment clearing and settlement systems JEL Code(s): E, E4, E42, E5, E58, G, G2, G21