Economists and Research Contacts

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Economic Advisor and Economist
Phone: (215) 574-6222
Fax:(215) 574-4303
E-mail: Cyril.Monnet@phil.frb.org

"A Dynamic Model of Settlement" (with Thor Köppl and Ted Temzelides), forthcoming in the Journal of Economic Theory.
"Guess What? It's Settlement!" (with Thor Köppl), forthcoming in the Journal of Banking and Finance.
"Why Do Financial Systems Differ? History Matters," (with Erwan Quintin), Journal of Monetary Economics, 54(2007), pp. 1002-1017.
"Private vs. Public Money" International Economic Review, Vol. 47: No. 3, August 2006, pp. 951-59.
"Contracts and Money Revisited" (with Antoine Martin), Topics in Macroeconomics, Vol. 6: Article 1, 2006.
"Optimal Contracts in a Dynamic Costly State Verification Model" (with Erwan Quintin), Economic Theory, 26(4), November 2005, pp. 867-85.
"Measuring European Financial Integration" (with Lieven Baele, Annalisa Ferrando, Peter Hörd, and Elizaveta Krylova), Oxford Review of Economic Policy, vol. 20, No. 4, Winter 2004, pp. 509-530.

"Monetary Policy in a Channel System," with Aleksander Berentsen, Working Paper 08-7, May 2008.
"Optimal Pricing of Payment Services When Cash Is An Alternative," with William Roberds, Working Paper 07-26, October 2007.
"A Dynamic Model of the Payment System," with Thorsten Koeppl and Ted Temzelides, Working Paper 07-22, October 2007.
"Credit and the No-Surcharge Rule" (with William Roberds). Working Paper 2006-25 , Federal Reserve Bank of Atlanta.
"The Welfare Effects of Incentive Schemes" (with Adam Copeland). Finance and Economics Discussion Series 2003-08 , Federal Reserve Board of Governors.
"Monetary Policy in a Channel System" (with Aleksander Berentsen). Working Paper 295 , Institute for Empirical Research in Economics, University of Zurich.
"Counterfeiting and Inflation," Working Paper Series No. 512 (PDF, 569 KB, 24 pages), European Central Bank.
"Costly Banknote Issuance and Interest Rates Under the U.S. National Banking System," Working Paper 601 , Federal Reserve Bank of Minneapolis.

"Central Clearing Counterparties" (with Thor Köppl)
"Mechanism Design and Payments" (with Thor Köppl and Ted Temzelides)
"Implementing Monetary Policy with No Reserve" (with Cornelia Holthausen and Flemming Würtz)
"Public Information and Monetary Policy" (with Marie Hoerova and Ted Temzelides)
"Inequality and Growth, the Institutional Link" (with Thor Köppl and Erwan Quintin)