Robert M. Townsend

MIT - Department of Economics

Professor

Bldg. E52-252c

50 Memorial Drive

Cambridge, MA 02142

United States

  • MIT - Department of Economics

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    • Tel: 617-452-3722
    • Fax: 617-253-1330
SCHOLARLY PAPERS

22

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5,143

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328

Scholarly Papers (22)

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1.

Monetary Theory and Electronic Money: Reflections on the Kenyan Experience

FRB Richmond Economic Quarterly, vol. 96, no. 1, First Quarter 2010, pp. 83-122
Number of pages: 40 Posted: 16 Dec 2012
William Jack, Tavneet Suri and Robert M. Townsend
World Bank, Massachusetts Institute of Technology (MIT) - Sloan School of Management and MIT - Department of Economics
Downloads 981 (49,676)
Citation 2

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2.

Households as Corporate Firms: Constructing Financial Statements from Integrated Household Surveys

Number of pages: 70 Posted: 27 Jun 2006
Krislert Samphantharak and Robert M. Townsend
University of California, San Diego - School of Global Policy and Strategy and MIT - Department of Economics
Downloads 549 (106,332)
Citation 4

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financial accounting, development economics, households, survey methods, measurement, risk, rates of return, liquidity

3.

The Impacts of Credit on Village Economies

MIT Department of Economics Working Paper No. 09-13
Number of pages: 46 Posted: 30 Apr 2009
Joseph P. Kaboski and Robert M. Townsend
Ohio State University (OSU) - Economics and MIT - Department of Economics
Downloads 532 (110,571)
Citation 53

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microfinance, finance and growth, credit constraints

4.

Supplier Relationships and Small Business Use of Trade Credit

FRB Chicago Working Paper No. 2000-28
Number of pages: 41 Posted: 04 Feb 2001
Daniel Aaronson, Raphael W. Bostic, Paul Huck and Robert M. Townsend
Federal Reserve Bank of Chicago, Federal Reserve Bank of Atlanta, Federal Reserve Bank of Chicago and MIT - Department of Economics
Downloads 430 (142,878)
Citation 3

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5.

Patterns of Rainfall Insurance Participation in Rural India

Downloads 417 (148,030)
Citation 41

Patterns of Rainfall Insurance Participation in Rural India

World Bank Policy Research Working Paper No. 4408
Number of pages: 44 Posted: 20 Apr 2016
Xavier Giné, Robert M. Townsend and James I. Vickery
World Bank - Development Research Group (DECRG), MIT - Department of Economics and Federal Reserve Bank of Philadelphia
Downloads 228 (278,476)

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Access to Finance, Banks & Banking Reform, Debt Markets, Insurance & Risk Mitigation

Patterns of Rainfall Insurance Participation in Rural India

FRB of New York Staff Report No. 302
Number of pages: 46 Posted: 13 Sep 2007
Xavier Giné, Robert M. Townsend and James I. Vickery
World Bank - Development Research Group (DECRG), MIT - Department of Economics and Federal Reserve Bank of Philadelphia
Downloads 189 (332,939)
Citation 41

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rainfall insurance, household finance, risk sharing, India

Patterns of Rainfall Insurance Participation in Rural India

The World Bank Economic Review, Vol. 22, No. 3, pp. 539-566, 2008
Posted: 31 Dec 2008
Xavier Giné, Robert M. Townsend and James I. Vickery
World Bank - Development Research Group (DECRG), MIT - Department of Economics and Federal Reserve Bank of Philadelphia

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O10, O16, G2, G22

6.

Financial Deepening, Inequality, and Growth: A Model-Based Quantitative Evaluation

IMF Working Paper No. 03/193
Number of pages: 65 Posted: 06 Feb 2006
Robert M. Townsend and Kenichi Ueda
MIT - Department of Economics and University of Tokyo - Faculty of Economics
Downloads 208 (305,537)
Citation 20

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Financial deepening, inequality, growth, transitional dynamics

7.

Discovering the Sources of TFP Growth: Occupational Choice and Financial Deepening

Number of pages: 76 Posted: 30 Mar 2005
Hyeok Jeong and Robert M. Townsend
University of Southern California - Department of Economics and MIT - Department of Economics
Downloads 203 (312,597)
Citation 11

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Total Factor Productivity, Occupation Choice, Financial Deepening

8.

A Structural Evaluation of a Large-Scale Quasi-Experimental Microfinance Initiative

MIT Department of Economics Working Paper No. 09-12
Number of pages: 59 Posted: 30 Apr 2009
Joseph P. Kaboski and Robert M. Townsend
Ohio State University (OSU) - Economics and MIT - Department of Economics
Downloads 197 (321,355)
Citation 42

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microfinance, buffer stock, credit constraint

9.

Transitional Growth with Increasing Inequality and Financial Deepening

IMF Working Paper No. 01/108
Number of pages: 84 Posted: 31 Jan 2006
Robert M. Townsend and Kenichi Ueda
MIT - Department of Economics and University of Tokyo - Faculty of Economics
Downloads 193 (327,476)

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Transitional growth, inequality, financial deepening, transaction costs

10.

Dynamic Mechanism Design with Hidden Income and Hidden Actions

UCLA Department of Economics Working Paper No. 818
Number of pages: 63 Posted: 29 May 2002
Matthias Doepke and Robert M. Townsend
Northwestern University - Department of Economics and MIT - Department of Economics
Downloads 190 (332,246)
Citation 15

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Moral Hazard, Public Reserves, Mechanism Design, Dynamic Contracts

11.

Evaluation of Financial Liberalization: A General Equilibrium Model with Constrained Occupation Choice

Number of pages: 48 Posted: 20 Apr 2016
Xavier Giné and Robert M. Townsend
World Bank - Development Research Group (DECRG) and MIT - Department of Economics
Downloads 189 (333,888)
Citation 12

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12.

Statistical Analysis of Rainfall Insurance Payouts in Southern India

World Bank Policy Research Working Paper No. 4426
Number of pages: 20 Posted: 20 Apr 2016
Xavier Giné, Robert M. Townsend and James I. Vickery
World Bank - Development Research Group (DECRG), MIT - Department of Economics and Federal Reserve Bank of Philadelphia
Downloads 186 (338,760)
Citation 3

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Debt Markets, Deposit Insurance, Labor Policies, Emerging Markets

13.

Sources of TFP Growth: Occupational Choice and Financial Deepening

IEPR Working Paper No. 05.28
Number of pages: 47 Posted: 24 Aug 2005
Hyeok Jeong and Robert M. Townsend
University of Southern California - Department of Economics and MIT - Department of Economics
Downloads 175 (357,786)
Citation 47

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Total Factor Productivity, Occupation Choice, Financial Deepening

14.

Welfare Gains from Financial Liberalization

IMF Working Paper No. 07/154
Number of pages: 67 Posted: 27 Jan 2010
Robert M. Townsend and Kenichi Ueda
MIT - Department of Economics and University of Tokyo - Faculty of Economics
Downloads 133 (449,265)
Citation 3

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financial liberalization, welfare gain, financial deepening, economic growth

15.

No Bank, One Bank, Several Banks: Does it Matter for Investment?

Banco de Espana Working Paper No. 1003
Number of pages: 59 Posted: 25 Mar 2010 Last Revised: 12 Apr 2010
Alexander Karaivanov, Sonia Ruano, Jesus Saurina Salas and Robert M. Townsend
Simon Fraser University (SFU), Banco de España, Banco de España and MIT - Department of Economics
Downloads 122 (480,785)
Citation 26

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financial constraints, bank lending, investment Euler equations, moral hazard, structural estimation and testing

16.

Growth and Inequality: Model Evaluation Based on an Estimation-Calibration Strategy

USC Institute of Economic Policy Research Paper No. 05.10
Number of pages: 64 Posted: 15 Feb 2005
Hyeok Jeong and Robert M. Townsend
University of Southern California - Department of Economics and MIT - Department of Economics
Downloads 111 (516,246)
Citation 16

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Model evaluation, growth and inequality, wealth-constrained self-selection

17.

Dynamic Mechanism Design with Hidden Income and Hidden Actions: Technical Appendix

UCLA Department of Economics Working Paper No. 819
Number of pages: 63 Posted: 29 May 2002
Matthias Doepke and Robert M. Townsend
Northwestern University - Department of Economics and MIT - Department of Economics
Downloads 98 (564,170)
Citation 9

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Moral Hazard, Public Reserves, Mechanism Design, Dynamic Contracts

18.

Firms as Clubs in Walrasian Markets with Private Information

Downloads 59 (748,527)
Citation 11

Firms as Clubs in Walrasian Markets with Private Information

FRB Richmond Working Paper No. 00-8
Number of pages: 60 Posted: 27 Nov 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 59 (763,486)
Citation 11

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private information, general equilibrium, clubs, theory of the firm

Firms as Clubs in Walrasian Markets with Private Information

Journal of Political Economy, Vol. 114, pp. 644-71, August 2006
Posted: 01 Nov 2006
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics

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19.

Theory of the Firm: Applied Mechanism Design

Federal Reserve Bank of Richmond Working Paper No. 96-2
Number of pages: 68 Posted: 17 Nov 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 58 (754,789)
Citation 2

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20.

Mechanism Design and Assignment Models

FRB Richmond Working Paper No. 03-9
Number of pages: 33 Posted: 03 Dec 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 55 (774,082)
Citation 4

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assignment, private information, communication

21.

Firms as Clubs in Walrasian Markets with Private Information: Technical Appendix

FRB Richmond Working Paper No. 05-11
Number of pages: 19 Posted: 06 Dec 2012
Edward S. Prescott and Robert M. Townsend
Federal Reserve Banks - Federal Reserve Bank of Cleveland and MIT - Department of Economics
Downloads 44 (854,757)
Citation 3

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competitive equilibrium, clubs, private information

22.

Dynamic Mechanism Design with Hidden Income and Hidden Auctions

Number of pages: 66 Posted: 28 Jul 2004
Matthias Doepke and Robert M. Townsend
Northwestern University - Department of Economics and MIT - Department of Economics
Downloads 13 (1,191,242)
Citation 1
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Mechanism design, dynamic contracts, recursive contracts

Other Papers (1)

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1.

Distinguishing Limited Liability from Moral Hazard in a Model of Entrepreneurship

Journal of Political Economy, Vol. 114, pp. 100-144, February 2006
Posted: 07 Feb 2006
Anna L. Paulson, Robert M. Townsend and Alexander Karaivanov
Federal Reserve Bank of Chicago, MIT - Department of Economics and Simon Fraser University (SFU)

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