Profile Major Works Resources

Robert M. Townsend, 1948- 

Economic theorist and financial economist at Carnegie-Mellon from 1975, Chicago from 1985 and now MIT since 2008.  Townsend's principal work has been on money and financial intermediaries in a general equilibrium framework.



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Major Works of Robert M. Townsend

  • "Intermediation with Costly Bilateral Exachange", 1978, RES
  • "Market Anticipations, Rational Expectations and Bayesian Analysis", 1978, IER
  • "Optimal Contracts and Competitive Markets with Costly State Verification", 1979, JET
  • "Models of Money with Spatially Separated Agents", 1980, in Kareken and Wallace, editors, Models of Monetary Economies
  • "Resource Allocation under Asymmetric Information", with M. Harris, 1981, Econometrica
  • "Optimal Multiperiod Contracts and the Gain from Enduring Relationships under Private Information", 1982, JPE
  • "Financial Structure and Economic Activity", 1983, AER
  • "Forecasting the Forecasts of Others", 1983, JPE
  • "Equilibrium Theory with Disparate Expectations and Learning: Some issues and methods", 1983, in Phelps and Frydman, editors, Individual Forecasts and Aggregate Outcomes.
  • "Theories of Intermediated Structures", 1983, CROCH
  • "General Competitive Equilibria Analysis in an Economy with Private Information", with E.C. Prescott, 1984, IER
  • "Pareto Optima and Competitive Equilibria with Adverse Selection and Moral Hazard", with E.C. Prescott, 1984, Econometrica
  • "Asset Return Anomalies in a Monetary Economy", 1987, JET
  • "Circulating Private Debt: An example with a coordination problem", with N. Wallace, 1987, in Prescott and Wallace, editors, Contractual Arrangements for Intertemporal Trade
  • "Economic Organization with Limited Communication", 1987, AER
  • Financial Structure and Economic Organization, 1990.




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Resources on  R.M. Townsend


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