Charles M. Kahn

University of Illinois, Urbana-Champaign

Professor Emeritus

Department of Finance

340 Wohlers Hall

Champaign, IL 61820

United States

http://kahnfrance.com/cmk/

Bank of Canada

Visiting Scholar

234 Wellington Street

Ontario, Ottawa K1A 0G9

Canada

Federal Reserve Bank of Saint Louis

Research Fellow

411 Locust St

Saint Louis, MO 63011

United States

  • University of Illinois, Urbana-Champaign

SCHOLARLY PAPERS

42

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8,538

SSRN CITATIONS
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Top 4,948

in Total Papers Citations

192

CROSSREF CITATIONS

146

Scholarly Papers (42)

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1.

Should the Central Bank Issue E-Money?

Downloads 1,286 (27,646)
Citation 15

Should the Central Bank Issue E-Money?

FRB St. Louis Working Paper No. 2019-3
Number of pages: 28 Posted: 23 Jan 2019 Last Revised: 21 Feb 2019
Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong
University of Illinois, Urbana-Champaign, Bank of Canada and Washington University in St Louis
Downloads 966 (41,027)
Citation 5

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central bank digital currencies, e-money, cryptocurrencies, token- and account- based payment payments

Should the Central Bank Issue E-Money?

Number of pages: 27 Posted: 15 Nov 2018 Last Revised: 11 Dec 2018
Charles M. Kahn, Francisco Rivadeneyra and Russell Wong
University of Illinois, Urbana-Champaign, Bank of Canada and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 319 (162,581)
Citation 7

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central bank digital currencies, e-money, cryptocurrencies, token- and account-based payment payments

Should the Central Bank Issue E-money?

Journal of Financial Market Infrastructures, Vol. 8, No. 4, 2020
Number of pages: 22 Posted: 19 Jan 2021
Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong
University of Illinois, Urbana-Champaign, Bank of Canada and Federal Reserve Banks - Federal Reserve Bank of Richmond
Downloads 1 (1,091,946)
Citation 5
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central bank digital currencies, e-money, cryptocurrencies, token- and account-based payment systems

2.

Allocating Bank Regulatory Powers: Lender of Last Resort, Deposit Insurance and Supervision

Downloads 1,025 (38,329)

Allocating Bank Regulatory Powers: Lender of Last Resort, Deposit Insurance and Supervision

AFA 2002 Atlanta Meetings, BIS Working Paper No. 102
Number of pages: 46 Posted: 13 Dec 2005
Charles M. Kahn and João A. C. Santos
University of Illinois, Urbana-Champaign and Federal Reserve Bank of New York
Downloads 1,025 (37,770)
Citation 5

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Allocating Bank Regulatory Powers: Lender of Last Resort, Deposit Insurance and Supervision

European Economic Review, Vol. 49, No. 8, pp. 2107-2136, 2005
Posted: 26 Aug 2005
Charles M. Kahn and João A. C. Santos
University of Illinois, Urbana-Champaign and Federal Reserve Bank of New York

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3.

Moral Hazard and Optimal Subsidiary Structure for Financial Institutions

Number of pages: 43 Posted: 26 Aug 2001
Charles M. Kahn and Andrew Winton
University of Illinois, Urbana-Champaign and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 667 (68,556)
Citation 18

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financial institutions, subsidiaries, securitization, risk-shifting, moral hazard, corporate structure

4.

Sources of Liquidity and Liquidity Shortages

AFA 2012 Chicago Meetings Paper
Number of pages: 31 Posted: 28 Feb 2011 Last Revised: 22 Jun 2017
Charles M. Kahn and Wolf Wagner
University of Illinois, Urbana-Champaign and Erasmus University Rotterdam (EUR)
Downloads 578 (82,002)
Citation 5

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liquidity sources, liquidity regulation, public liquidity

5.

Liquidity, Payment and Endogenous Financial Fragility

EFA 2005 Moscow Meetings Paper
Number of pages: 36 Posted: 06 Mar 2005 Last Revised: 04 May 2010
Charles M. Kahn and João A. C. Santos
University of Illinois, Urbana-Champaign and Federal Reserve Bank of New York
Downloads 456 (109,718)
Citation 7

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Systemic risk, liquidity, payment services, bank regulation

6.

The Cls Bank: A Solution to the Risks of International Payments Settlement?

Downloads 445 (112,840)

The Cls Bank: A Solution to the Risks of International Payments Settlement?

FRB of Atlanta Working Paper No. 2000-15
Number of pages: 50 Posted: 30 Oct 2000
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta
Downloads 445 (111,682)
Citation 5

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foreign exchange, settlement risk

The Cls Bank: A Solution to the Risks of International Payments Settlement?

Posted: 01 Feb 2001
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta

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Foreign exchange, settlement risk

7.

Allocating Lending of Last Resort and Supervision in the Euro Area

Number of pages: 25 Posted: 24 May 2002
Charles M. Kahn and João A. C. Santos
University of Illinois, Urbana-Champaign and Federal Reserve Bank of New York
Downloads 395 (129,643)
Citation 5

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8.

A Theory of Transactions Privacy

Downloads 376 (136,984)
Citation 3

A Theory of Transactions Privacy

FRB Atlanta Working Paper No. 2000-22
Number of pages: 29 Posted: 03 Dec 2000
Charles M. Kahn, James McAndrews and William Roberds
University of Illinois, Urbana-Champaign, Wharton Financial Institutions Center and Federal Reserve Bank of Atlanta
Downloads 192 (268,592)
Citation 11

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A Theory of Transactions Privacy

FRB Atlanta Working Paper No. 2000-22
Number of pages: 29 Posted: 19 Jan 2001
Charles M. Kahn, James McAndrews and William Roberds
University of Illinois, Urbana-Champaign, Wharton Financial Institutions Center and Federal Reserve Bank of Atlanta
Downloads 184 (278,953)

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Privacy, transactions, Internet, e-money

9.

Identity Theft and Consumer Payment Choice: Does Security Really Matter?

Number of pages: 50 Posted: 16 Feb 2012 Last Revised: 28 Apr 2014
Charles M. Kahn and José Manuel Liñares-Zegarra
University of Illinois, Urbana-Champaign and University of Essex - Essex Business School
Downloads 368 (140,270)
Citation 14

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identity theft, payment choice, Heckman selection model

10.

Credit and Identity Theft

FRB of Atlanta Working Paper No. 2005-19
Number of pages: 34 Posted: 13 Oct 2005
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta
Downloads 353 (146,818)
Citation 13

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identity theft, fraud, money, search

11.

Settlement Risk Under Gross and Net Settlement

FRB of New York Staff Report No. 86
Number of pages: 34 Posted: 09 Oct 2006
Charles M. Kahn, James McAndrews and William Roberds
University of Illinois, Urbana-Champaign, Wharton Financial Institutions Center and Federal Reserve Bank of Atlanta
Downloads 312 (167,562)
Citation 5

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clearing, settlement, settlement risk

12.

Payment Systems and Privacy

Review, Vol. 100, Issue 4, pp. 337-344, 2018
Number of pages: 8 Posted: 15 Jan 2019 Last Revised: 17 Jul 2019
Charles M. Kahn
University of Illinois, Urbana-Champaign
Downloads 228 (229,616)
Citation 1

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13.

Transferability, Finality, and Debt Settlement

FRB Atlanta Working Paper No. 2001-18b
Number of pages: 61 Posted: 04 Nov 2001
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta
Downloads 194 (266,473)
Citation 6

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settlement, finality, negotiability

14.

Money is Privacy

FRB of Atlanta Working Paper No. 2004-18
Number of pages: 24 Posted: 27 Aug 2004
Charles M. Kahn, James McAndrews and William Roberds
University of Illinois, Urbana-Champaign, Wharton Financial Institutions Center and Federal Reserve Bank of Atlanta
Downloads 186 (276,612)
Citation 4

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Money, privacy, memory, search

15.

The Threat of Intervention

Downloads 185 (277,863)

The Threat of Intervention

European Corporate Governance Institute (ECGI) - Finance Working Paper No. 602/2019
Number of pages: 58 Posted: 21 Apr 2018 Last Revised: 09 Oct 2022
Vyacheslav Fos and Charles M. Kahn
Boston College - Department of Finance and University of Illinois, Urbana-Champaign
Downloads 183 (280,336)

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Corporate governance, agency costs, shareholder activism, disciplinary effects, stock liquidity

The Threat of Intervention

CEPR Discussion Paper No. DP13654
Number of pages: 55 Posted: 09 Apr 2019
Vyacheslav Fos and Charles M. Kahn
Boston College - Department of Finance and University of Illinois, Urbana-Champaign
Downloads 2 (1,083,049)
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16.

Payments Settlement Under Limited Enforcement: Private Versus Public Systems

FRB of Atlanta Working Paper No. 2002-33
Number of pages: 30 Posted: 11 Mar 2003
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta
Downloads 165 (306,858)
Citation 14

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payment systems, limited enforcement, settlement risk

17.

Systemic Risk and Optimal Regulatory Architecture

IMF Working Paper No. 11/193
Number of pages: 25 Posted: 16 Aug 2011
Marco A. Espinosa-Vega, Charles M. Kahn, Juan A. Solé and Rafael Matta
International Monetary Fund (IMF), University of Illinois, Urbana-Champaign, International Monetary Fund (IMF) and SKEMA Business School - Université Côte d'Azur
Downloads 160 (315,018)

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18.

The Role of Pilot Studies in Financial Regulation

Number of pages: 32 Posted: 15 Dec 2021
Lawrence Harris, Charles M. Kahn, Robert L. McDonald and Chester S. Spatt
University of Southern California - Marshall School of Business - Finance and Business Economics Department, University of Illinois, Urbana-Champaign, Northwestern University - Kellogg School of Management and Carnegie Mellon University - David A. Tepper School of Business
Downloads 147 (337,971)

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pilot studies, financial market regulation, Securities and Exchange Commission

19.

Collateral, Rehypothecation, and Efficiency

Journal of Financial Intermediation, Forthcoming
Number of pages: 38 Posted: 27 Jun 2017 Last Revised: 20 Mar 2018
Hyejin Park and Charles M. Kahn
Hanyang University ERICA Campus, School of Economics and University of Illinois, Urbana-Champaign
Downloads 147 (337,971)
Citation 10

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collateral, rehypothecation, moral hazard, misallocation

20.

Grasping De(centralized) Fi(nance) through the Lens of Economic Theory

Number of pages: 32 Posted: 28 Sep 2022
Jonathan Chiu, Charles M. Kahn and Thorsten V. Koeppl
Bank of Canada, University of Illinois, Urbana-Champaign and Queen's University - Department of Economics
Downloads 127 (378,384)

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Decentralized Finance, Cryptocurrency, Stablecoins, Collateralized Lending

21.

Repos, Fire Sales, and Bankruptcy Policy

FRB of Chicago Working Paper No. 2012-15
Number of pages: 26 Posted: 15 Dec 2012
Gaetano Antinolfi, Francesca Carapella, Charles M. Kahn, Antoine Martin, David C. Mills and Ed Nosal
Washington University in St. Louis - Department of Economics, Board of Governors of the Federal Reserve System, University of Illinois, Urbana-Champaign, Federal Reserve Bank of New York - Research and Statistics, Board of Governors of the Federal Reserve System and Federal Reserve Banks - Federal Reserve Bank of Atlanta
Downloads 105 (434,773)
Citation 10

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Fire Sales, Repos, Bankruptcy Policy

22.

Eggs in One Basket: Security and Convenience of Digital Currencies

FRB St. Louis Working Paper No. 2020-32
Number of pages: 47 Posted: 23 Sep 2020
Charles M. Kahn, Francisco Rivadeneyra and Tsz-Nga Wong
University of Illinois, Urbana-Champaign, Bank of Canada and Washington University in St Louis
Downloads 103 (440,832)

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digital currencies, wallets, hacking, theft, welfare

23.

Liquidity Freezes Under Adverse Selection

Number of pages: 51 Posted: 01 Apr 2014 Last Revised: 14 Jun 2019
José Jorge and Charles M. Kahn
Universidade do Porto, Faculdade de Economia. CEF.UP and University of Illinois, Urbana-Champaign
Downloads 94 (468,593)
Citation 1

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liquidity; adverse selection; funding liquidity risk; financial market freezes

24.

Statement on Evidence-Based Regulation and the Limits of Pilot Studies

Number of pages: 12 Posted: 10 Jul 2020
Lawrence Harris, Charles M. Kahn, Robert L. McDonald and Chester S. Spatt
University of Southern California - Marshall School of Business - Finance and Business Economics Department, University of Illinois, Urbana-Champaign, Northwestern University - Kellogg School of Management and Carnegie Mellon University - David A. Tepper School of Business
Downloads 82 (509,859)

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Pilot studies, financial market regulation and policy, Securities and Exchange Commission

25.

Payment System Settlement and Bank Incentives

FRB Atlanta Working Paper No. 96-10
Number of pages: 31 Posted: 08 Oct 2014 Last Revised: 25 Jan 2015
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta
Downloads 79 (521,192)
Citation 21

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26.

Bank Deposit Rate Clustering: Theory and Empirical Evidence

FRB of Cleveland Working Paper No. 9604
Number of pages: 32 Posted: 17 Jan 2015
Charles M. Kahn, George Pennacchi and Ben J. Sopranzetti
University of Illinois, Urbana-Champaign, University of Illinois and Rutgers, The State University of New Jersey - New Brunswick/Piscataway
Downloads 76 (533,092)
Citation 6

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27.

The Efficiency of Self-Regulated Payments Systems: Learning from the Suffolk System

NBER Working Paper No. w5442
Number of pages: 50 Posted: 21 Jun 2000 Last Revised: 16 Nov 2022
Charles W. Calomiris and Charles M. Kahn
Columbia University - Columbia Business School and University of Illinois, Urbana-Champaign
Downloads 67 (571,296)
Citation 3

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28.

Real-Time Gross Settlement and the Costs of Immediacy

FRB Atlanta Working Paper Series No. 98-21a
Number of pages: 30 Posted: 25 Jan 2015
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta
Downloads 66 (575,684)
Citation 10

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payments, money, real-time gross settlement

29.

Are There Social Spillovers in Consumers’ Security Assessments of Payment Instruments?

FRB of Boston Working Paper No. 16-19
Number of pages: 44 Posted: 14 Dec 2016
Charles M. Kahn, José Manuel Liñares-Zegarra and Joanna Stavins
University of Illinois, Urbana-Champaign, University of Essex - Essex Business School and Federal Reserve Bank of Boston
Downloads 33 (769,988)
Citation 3

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30.

Wage-Employment Contracts: Global Results

NBER Working Paper No. w0675
Number of pages: 25 Posted: 18 Aug 2004 Last Revised: 08 May 2022
Jerry Green and Charles M. Kahn
Harvard University, HBS Negotiations, Organizations and Markets Unit; Dept. of Economics and University of Illinois, Urbana-Champaign
Downloads 33 (769,988)
Citation 2

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31.

Repos, Fire Sales, and Bankruptcy Policy

FRB of Chicago Working Paper No. WP-2012-15
Posted: 14 Jun 2021
Gaetano Antinolfi, Francesca Carapella, Charles M. Kahn, David C. Mills and Ed Nosal
Washington University in St. Louis, Board of Governors of the Federal Reserve System, University of Illinois, Urbana-Champaign, Board of Governors of the Federal Reserve System and Federal Reserve Banks - Federal Reserve Bank of Atlanta

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32.

Exclusion and Moral Hazard: The Case of Identical Demand

Journal of Public Economics, Volume 52, Issue 2, September 1993, Pages 217–235, University of Alberta School of Business Research Paper No. 2013-1190
Posted: 05 Jan 2016
Emilson Delfino Silva and Charles M. Kahn
University of Alberta - Department of Marketing, Business Economics & Law and University of Illinois, Urbana-Champaign

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33.

The Economic Functions of Referrals and Referral Fee

Posted: 17 May 2002
Peter F. Colwell and Charles M. Kahn
University of Illinois and University of Illinois, Urbana-Champaign

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34.

Multi-Unit Auctions in Which Almost Every Bid Wins

University of Illinois, Bureau of Economics & Business Research Working Paper No. 98-0120
Posted: 27 Oct 1999
Richard Engelbrecht-Wiggans and Charles M. Kahn
University of Illinois at Urbana-Champaign - Department of Business Administration and University of Illinois, Urbana-Champaign

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35.

Strategic Transmission of Information and Short-Term Commitment

Posted: 04 Oct 1999
Charles M. Kahn and Theofanis Tsoulouhas
University of Illinois, Urbana-Champaign and University of California-Merced, School of Social Sciences, Humanities & Arts, The Ernest & Julio Gallo Management Program

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36.

Low Revenue Equilibria in Simultaneous Ascending Price Auctions

University of Illinois, Bureau of Economics & Business Research, Working Paper No. 98-0121
Posted: 13 Apr 1999
Richard Engelbrecht-Wiggans and Charles M. Kahn
University of Illinois at Urbana-Champaign - Department of Business Administration and University of Illinois, Urbana-Champaign

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37.

Multi-Unit Auctions with Uniform Prices

Posted: 04 Oct 1998
Richard Engelbrecht-Wiggans and Charles M. Kahn
University of Illinois at Urbana-Champaign - Department of Business Administration and University of Illinois, Urbana-Champaign

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38.

Demandable Debt as a Means of Payment: Banknotes Versus Checks

FRB Atlanta Public Affairs Department WP No. 98-5
Posted: 22 Sep 1998
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta

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39.

On the Efficiency of Cash Settlement

WP 95-11
Posted: 02 Jul 1998
Charles M. Kahn and William Roberds
University of Illinois, Urbana-Champaign and Federal Reserve Bank of Atlanta

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40.

Ownership Structure, Liquidity Demand, and Shareholder Monitoring

Posted: 16 May 1998
Charles M. Kahn and Andrew Winton
University of Illinois, Urbana-Champaign and University of Minnesota - Twin Cities - Carlson School of Management

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41.

Competition and Incentives with Non-Exclusive Contracts

Posted: 17 Sep 1997
Dilip Mookherjee and Charles M. Kahn
Boston University - Department of Economics and University of Illinois, Urbana-Champaign

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42.

Ownership Structure, Speculation, and Shareholder Intervention

Finance Department Working Paper No. 220
Posted: 15 Jan 1997
Charles M. Kahn and Andrew Winton
University of Illinois, Urbana-Champaign and University of Minnesota - Twin Cities - Carlson School of Management

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