This paper is a reworking and extension of our earlier paper “Payments Settlement under Limited Enforcement.” The authors are grateful to Cyril Monnet, Ed Nosal, Henri Pages, as well as to participants in presentations at the Bank of England, the Federal Reserve Banks of Cleveland and New York, Tokyo University, the 2003 SED meetings and the 2004 winter meetings of the Econometric Society, for comments on earlier drafts. We are especially grateful to an anonymous referee for several valuable suggestions and corrections. Views expressed are those of the authors and not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.
Payments Settlement: Tiering in Private and Public Systems
Version of Record online: 16 JUL 2009
© 2009 The Ohio State University No claim to original US government works
Journal of Money, Credit and Banking
Volume 41, Issue 5, pages 855–884, August 2009
How to Cite
KAHN, C. M. and ROBERDS, W. (2009), Payments Settlement: Tiering in Private and Public Systems. Journal of Money, Credit and Banking, 41: 855–884. doi: 10.1111/j.1538-4616.2009.00236.x
- Issue online: 16 JUL 2009
- Version of Record online: 16 JUL 2009
- Received May 4, 2005; and accepted in revised form November 12, 2008.
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