Robert M. Townsend

Massachusetts Institute of Technology (MIT)

77 Massachusetts Avenue

50 Memorial Drive

Cambridge, MA 02139-4307

United States

SCHOLARLY PAPERS

22

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35

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Scholarly Papers (22)

Barriers to Household Risk Management: Evidence from India

American Economic Journal: Applied Economics, 5(1), 104-35, Harvard Business School Finance Working Paper No. 09-116, FRB of New York Staff Report No. 373
Number of pages: 55 Posted: 09 Apr 2009 Last Revised: 22 Jan 2013
Harvard Business School, World Bank - Development Research Group (DECRG), Alfred Lerner College of Business and Economics, University of Delaware, Massachusetts Institute of Technology (MIT), International Monetary Fund (IMF) and Federal Reserve Bank of New York
Downloads 1,408 (12,288)

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Insurance, Household Finance, Trust, Liquidity Constraints, Financial Literacy, Economic Development

Barriers to Household Risk Management: Evidence from India

World Bank Policy Research Working Paper No. 5504
Number of pages: 40 Posted: 20 Apr 2016
Harvard Business School, World Bank - Development Research Group (DECRG), Alfred Lerner College of Business and Economics, University of Delaware, International Monetary Fund (IMF), Massachusetts Institute of Technology (MIT) and Federal Reserve Bank of New York
Downloads 101 (260,500)

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Financial Literacy, Debt Markets, Access to Finance, Emerging Markets, Labor Policies

Barriers to Household Risk Management: Evidence from India

IMF Working Paper No. 12/195
Number of pages: 44 Posted: 01 Nov 2012
Harvard Business School, World Bank - Development Research Group (DECRG), Alfred Lerner College of Business and Economics, University of Delaware, International Monetary Fund (IMF), Massachusetts Institute of Technology (MIT) and Federal Reserve Bank of New York
Downloads 37 (438,199)

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Household Finance, Trust, Liquidity Constraints, Household Credit, Risk Management

2.

Microinsurance: A Case Study of the Indian Rainfall Index Insurance Market

World Bank Policy Research Working Paper No. 5459
Number of pages: 49 Posted: 20 Apr 2016
Xavier Giné, Lev Menand, Robert M. Townsend and James I. Vickery
World Bank - Development Research Group (DECRG), Yale University - Law School, Massachusetts Institute of Technology (MIT) and Federal Reserve Bank of New York
Downloads 675 (36,789)

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Climate Change Economics, Insurance Law, Debt Markets, Financial Literacy, Insurance & Risk Mitigation

Rise of Bank Competition: Evidence from Banking Deregulation in China

Number of pages: 60 Posted: 15 Dec 2017 Last Revised: 26 Mar 2019
Haoyu Gao, Hong Ru, Robert M. Townsend and Xiaoguang Yang
Central University of Finance and Economics (CUFE), Nanyang Technological University (NTU), Massachusetts Institute of Technology (MIT) and Chinese Academy of Sciences (CAS)
Downloads 256 (116,592)

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Banking Deregulation; Credit Allocation; Growth; China

Rise of Bank Competition: Evidence from Banking Deregulation in China

NBER Working Paper No. w25795
Number of pages: 61 Posted: 07 May 2019
Haoyu Gao, Hong Ru, Robert M. Townsend and Xiaoguang Yang
Central University of Finance and Economics (CUFE), Nanyang Technological University (NTU), Massachusetts Institute of Technology (MIT) and Chinese Academy of Sciences (CAS)
Downloads 4 (636,012)
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4.
Downloads 132 (212,969)

The Economics of Bank Supervision

FRB of NY Staff Report No. 769
Number of pages: 56 Posted: 21 Mar 2016 Last Revised: 30 Aug 2017
Thomas M. Eisenbach, David O. Lucca and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT)
Downloads 120 (230,000)

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bank supervision, bank regulation, monitoring, time use

The Economics of Bank Supervision

NBER Working Paper No. w22201
Number of pages: 58 Posted: 02 May 2016
Thomas M. Eisenbach, David O. Lucca and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Banks - Federal Reserve Bank of New York and Massachusetts Institute of Technology (MIT)
Downloads 12 (581,076)

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5.

Identifying Constraints to Financial Inclusion and Their Impact on GDP and Inequality: A Structural Framework for Policy

IMF Working Paper No. 15/22
Number of pages: 50 Posted: 23 Feb 2015
Era Dabla-Norris, Yan Ji, D. Filiz Unsal and Robert M. Townsend
International Monetary Fund (IMF), Hong Kong University of Science & Technology (HKUST), International Monetary Fund (IMF) - Research Department and Massachusetts Institute of Technology (MIT)
Downloads 97 (265,770)

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Financial services, Income inequality, Gross domestic product, Income distribution, Low-income developing countries, Emerging markets, General equilibrium models, Financial inclusion, hetergenous agents., credit, gdp, wealth, costs, economy, savings, choice, capital, utility, development, interest, moral hazard, production, wages, consumption, investment, interest rate, asymmetric information, interest rates, gdp per capita, financial sector, welfare, trade, utility function, economic growth, regression analysis, distribution of wealth, variables, total factor productivity, inefficiency, macroeconomic analyses, diminishing returns to scale, m2, production function, expected utility, risk neu

Curbing Shocks to Corporate Liquidity: The Role of Trade Credit

Riksbank Research Paper Series No. 144, Sveriges Riksbank Working Paper Series No. 320
Number of pages: 47 Posted: 04 Jun 2016
Niklas Amberg, Tor Jacobson, Erik von Schedvin and Robert M. Townsend
Stockholm School of Economics, Sveriges Riksbank - Research Division, Sveriges Riksbank and Massachusetts Institute of Technology (MIT)
Downloads 46 (402,104)

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Liquidity management, Trade credit, Risk sharing

Curbing Shocks to Corporate Liquidity: The Role of Trade Credit

NBER Working Paper No. w22286
Number of pages: 51 Posted: 01 Jun 2016 Last Revised: 15 Jun 2016
Niklas Amberg, Tor Jacobson, Erik von Schedvin and Robert M. Townsend
Stockholm School of Economics, Sveriges Riksbank - Research Division, Sveriges Riksbank and Massachusetts Institute of Technology (MIT)
Downloads 28 (481,239)

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7.

Risk and Return in Village Economies

NBER Working Paper No. w19738
Number of pages: 64 Posted: 20 Dec 2013
Krislert Samphantharak and Robert M. Townsend
University of California, San Diego - School of Global Policy and Strategy and Massachusetts Institute of Technology (MIT)
Downloads 46 (394,867)

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8.

A Market Based Solution to Price Externalities: A Generalized Framework

NBER Working Paper No. w20275
Number of pages: 66 Posted: 08 Jul 2014
Weerachart Kilenthong and Robert M. Townsend
University of the Thai Chamber of Commerce and Massachusetts Institute of Technology (MIT)
Downloads 40 (416,748)

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9.

A Market Based Solution for Fire Sales and Other Pecuniary Externalities

NBER Working Paper No. w22056
Number of pages: 75 Posted: 07 Mar 2016
Weerachart Kilenthong and Robert M. Townsend
University of the Thai Chamber of Commerce and Massachusetts Institute of Technology (MIT)
Downloads 25 (484,102)

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10.

Liquidity Constraints, Kinship Networks, and the Financing of Household Investment

Number of pages: 34 Posted: 08 May 2012
Krislert Samphantharak and Robert M. Townsend
University of California, San Diego - School of Global Policy and Strategy and Massachusetts Institute of Technology (MIT)
Downloads 25 (484,102)

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Investment-cash flow sensitivity, financial constraint, liquidity, household investment, networks

11.

Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes

NBER Working Paper No. w19617
Number of pages: 66 Posted: 09 Nov 2013
Alexander Karaivanov and Robert M. Townsend
Simon Fraser University (SFU) - Department of Economics and Massachusetts Institute of Technology (MIT)
Downloads 17 (529,284)

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Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and the Distribution of Income

NBER Working Paper No. w20821
Number of pages: 54 Posted: 12 Jan 2015
Era Dabla-Norris, Yan Ji, Robert M. Townsend and D. Filiz Unsal
International Monetary Fund (IMF), Hong Kong University of Science & Technology (HKUST), Massachusetts Institute of Technology (MIT) and International Monetary Fund (IMF) - Research Department
Downloads 14 (568,010)

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Distinguishing Constraints on Financial Inclusion and Their Impact on GDP and Inequality

CEPR Discussion Paper No. DP11742
Number of pages: 66 Posted: 09 Jan 2017
Era Dabla-Norris, Yan Ji, Robert M. Townsend and D. Filiz Unsal
International Monetary Fund (IMF), Hong Kong University of Science & Technology (HKUST), Massachusetts Institute of Technology (MIT) and International Monetary Fund (IMF) - Research Department
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13.

Demand and Reimbursement Effects of Healthcare Reform: Health Care Utilization and Infant Mortality in Thailand

NBER Working Paper No. w17739
Number of pages: 33 Posted: 14 Jan 2012 Last Revised: 17 Jan 2012
Jonathan Gruber, Nathaniel Hendren and Robert M. Townsend
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT)
Downloads 14 (546,665)

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14.

Economic Development, Flow of Funds and the Equilibrium Interaction of Financial Frictions

NBER Working Paper No. w19618
Number of pages: 53 Posted: 09 Nov 2013 Last Revised: 06 Aug 2014
Benjamin Moll, Robert M. Townsend and Victor Zhorin
Princeton University - Department of Economics, Massachusetts Institute of Technology (MIT) and Computation Institute
Downloads 11 (564,477)

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15.

Heterogeneity and Risk Sharing in Village Economies

NBER Working Paper No. w16696
Number of pages: 53 Posted: 18 Jan 2011
Columbia University - Graduate School of Arts and Sciences, Department of Economics, University of California, San Diego - School of Global Policy and Strategy, Federal Reserve Bank of Chicago and Massachusetts Institute of Technology (MIT)
Downloads 9 (576,611)

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16.

Segregated Security Exchanges with Ex Ante Rights to Trade: A Market-Based Solution to Collateral-Constrained Externalities

NBER Working Paper No. w20086
Number of pages: 88 Posted: 06 May 2014
Weerachart Kilenthong and Robert M. Townsend
University of the Thai Chamber of Commerce and Massachusetts Institute of Technology (MIT)
Downloads 7 (588,857)

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17.

Integrated Household Surveys: An Assessment of U.S. Methods and an Innovation

FRB of Boston Working Paper No. 17-7
Number of pages: 65 Posted: 29 Sep 2017
Krislert Samphantharak, Scott D. Schuh and Robert M. Townsend
University of California, San Diego - School of Global Policy and Strategy, Federal Reserve Bank of Boston - Research Department and Massachusetts Institute of Technology (MIT)
Downloads 5 (601,563)

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surveys, diaries, payments, financial statements, cash flows

18.

Welfare Gains from Financial Liberalization

International Economic Review, Vol. 51, Issue 3, pp. 553-597, August 2010
Number of pages: 45 Posted: 10 Aug 2010
Robert M. Townsend and Kenichi Ueda
Massachusetts Institute of Technology (MIT) and University of Tokyo - Faculty of Economics
Downloads 3 (615,971)
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19.

Internal Capital Markets in Business Groups and the Propagation of Credit Supply Shocks

IMF Working Paper No. 19/111
Number of pages: 40 Posted: 18 Jun 2019
Yu Shi, Robert M. Townsend and Wu Zhu
International Monetary Fund (IMF), Massachusetts Institute of Technology (MIT) and University of Pennsylvania
Downloads 1 (638,107)

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Interest rate ceilings, Supply and demand, Credit demand, Credit, Bank credit, Internal capital markets, business groups, bank lending, China, corporate shareholder, business group, equity share, leverage ratio, credit market

20.

Financial Centrality and Liquidity Provision

NBER Working Paper No. w24406
Number of pages: 51 Posted: 20 Mar 2018
Arun G. Chandrasekhar, Robert M. Townsend and Juan Pablo Xandri
Stanford University - Department of Economics, Massachusetts Institute of Technology (MIT) and Princeton University
Downloads 1 (638,107)
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21.

Family Firms, Bank Relationships, and Financial Constraints: A Comprehensive Score Card

International Economic Review, Vol. 60, Issue 2, pp. 547-593, 2019
Number of pages: 47 Posted: 22 May 2019
Alexander Karaivanov, Jesús Saurina and Robert M. Townsend
Simon Fraser University (SFU), Bank of Spain and Massachusetts Institute of Technology (MIT)
Downloads 0 (656,222)
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22.

Financial Structure and Economic Welfare: Applied General Equilibrium Development Economics

Annual Review of Economics, Vol. 2, pp. 507-546, 2010
Posted: 18 Oct 2010
Robert M. Townsend
Massachusetts Institute of Technology (MIT)

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