Details about Marco Cipriani

Access statistics for papers by Marco Cipriani.

Last updated 2025-04-24. Update your information in the RePEc Author Service.

Short-id: pci23

Working Papers

2025

1. Discount Window Stigma After the Global Financial Crisis
   Liberty Street Economics, Federal Reserve Bank of New York
   Also in Staff Reports, Federal Reserve Bank of New York (2024)
2. Stablecoins and Crypto Shocks: An Update
   Liberty Street Economics, Federal Reserve Bank of New York

2024

3. Anatomy of the Bank Runs in March 2023
   Liberty Street Economics, Federal Reserve Bank of New York
   See also Journal Article Anatomy of the Bank Runs in March 2023, Richmond Fed Economic Brief, Federal Reserve Bank of Richmond (2024) (2024)
4. Monetary Policy and Money Market Funds in Europe
   Liberty Street Economics, Federal Reserve Bank of New York
5. Stablecoins and Crypto Shocks
   Liberty Street Economics, Federal Reserve Bank of New York
6. Tracing Bank Runs in Real Time
   Staff Reports, Federal Reserve Bank of New York View citations (2)
   Also in Working Paper, Federal Reserve Bank of Richmond (2024) View citations (1)

2023

7. Banks’ Balance-Sheet Costs and ON RRP Investment
   Liberty Street Economics, Federal Reserve Bank of New York
8. Dropping Like a Stone: ON RRP Take-up in the Second Half of 2023
   Liberty Street Economics, Federal Reserve Bank of New York
9. Financial Sanctions, SWIFT, and the Architecture of the International Payments System
   Staff Reports, Federal Reserve Bank of New York View citations (2)
10. Mitigating the Risk of Runs on Uninsured Deposits: the Minimum Balance at Risk
    Liberty Street Economics, Federal Reserve Bank of New York
11. Monetary Policy Transmission and the Size of the Money Market Fund Industry: An Update
    Liberty Street Economics, Federal Reserve Bank of New York
12. Noncognitive Skills at the Time of COVID-19: An Experiment with Professional Traders and Students
    Staff Reports, Federal Reserve Bank of New York
13. Runs and Flights to Safety: Are Stablecoins the New Money Market Funds?
    Staff Reports, Federal Reserve Bank of New York View citations (1)
14. The Federal Reserve’s Two Key Rates: Similar but Not the Same?
    Liberty Street Economics, Federal Reserve Bank of New York
15. Treasury Bill Supply and ON RRP Investment
    Liberty Street Economics, Federal Reserve Bank of New York

2022

16. Banks’ Balance-Sheet Costs, Monetary Policy, and the ON RRP
    Staff Reports, Federal Reserve Bank of New York View citations (1)
17. Pricing Liquidity without Preemptive Runs
    Liberty Street Economics, Federal Reserve Bank of New York
18. Strategic Sophistication and Trading Profits: An Experiment with Professional Traders
    Staff Reports, Federal Reserve Bank of New York
19. The Fed’s Balance Sheet Runoff and the ON RRP Facility
    Liberty Street Economics, Federal Reserve Bank of New York
20. The Fed’s Balance Sheet Runoff: The Role of Levered NBFIs and Households
    Liberty Street Economics, Federal Reserve Bank of New York

2021

21. COVID Response: The Money Market Mutual Fund Facility
    Staff Reports, Federal Reserve Bank of New York View citations (2)
22. Financial Transaction Taxes and the Informational Efficiency of Financial Markets: A Structural Estimation
    Staff Reports, Federal Reserve Bank of New York
    Also in 2015 Meeting Papers, Society for Economic Dynamics (2015)
    CeMMAP working papers, Centre for Microdata Methods and Practice, Institute for Fiscal Studies (2019)
23. Preemptive Runs and the Offshore U.S. Dollar Money Market Funds Industry
    Liberty Street Economics, Federal Reserve Bank of New York
24. Sophisticated and Unsophisticated Runs
    Liberty Street Economics, Federal Reserve Bank of New York View citations (4)
    Also in Staff Reports, Federal Reserve Bank of New York (2020) View citations (8)

2020

25. A New Reserves Regime? COVID-19 and the Federal Reserve Balance Sheet
    Liberty Street Economics, Federal Reserve Bank of New York
26. How Bank Reserves Are Distributed Matters. How You Measure Their Distribution Matters Too
    Liberty Street Economics, Federal Reserve Bank of New York
27. Investors' Appetite for Money-Like Assets: The MMF Industry after the 2014 Regulatory Reform
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
28. Leverage and Asset Prices: An Experiment
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in Working Papers, George Mason University, Interdisciplinary Center for Economic Science (2012) View citations (5)
    Staff Reports, Federal Reserve Bank of New York (2012) View citations (7)
29. Municipal Debt Markets and the COVID-19 Pandemic
    Liberty Street Economics, Federal Reserve Bank of New York View citations (9)
30. Risk Preferences at the Time of COVID-19: An Experiment with Professional Traders and Students
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (41)
    Also in Staff Reports, Federal Reserve Bank of New York (2020) View citations (26)
31. The Market Events of Mid-September 2019
    Staff Reports, Federal Reserve Bank of New York View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (12)
    See also Journal Article The Market Events of Mid-September 2019, Economic Policy Review, Federal Reserve Bank of New York (2021) View citations (2) (2021)
32. The Money Market Fund Liquidity Facility
    Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
33. Trading by Professional Traders: An Experiment
    Staff Reports, Federal Reserve Bank of New York View citations (1)

2019

34. Endogenous Leverage and Default in the Laboratory
    Staff Reports, Federal Reserve Bank of New York View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (2)
35. Selected Deposits and the OBFR
    Liberty Street Economics, Federal Reserve Bank of New York
36. The Transmission of Monetary Policy and the Sophistication of Money Market Fund Investors
    Liberty Street Economics, Federal Reserve Bank of New York

2018

37. The Premium for Money-Like Assets
    Liberty Street Economics, Federal Reserve Bank of New York

2017

38. Introducing the Revised Broad Treasuries Financing Rate
    Liberty Street Economics, Federal Reserve Bank of New York
39. Investors’ appetite for money-like assets: the money market fund industry after the 2014 regulatory reform
    Staff Reports, Federal Reserve Bank of New York View citations (7)
40. Money Market Funds and the New SEC Regulation
    Liberty Street Economics, Federal Reserve Bank of New York View citations (2)

2016

41. Borrowing, Lending, and Swapping Collateral in GCF Repo®
    Liberty Street Economics, Federal Reserve Bank of New York
42. Informational contagion in the laboratory
    Temi di discussione (Economic working papers), Bank of Italy, Economic Research and International Relations Area View citations (1)
    Also in Staff Reports, Federal Reserve Bank of New York (2015) View citations (5)
    See also Journal Article Informational Contagion in the Laboratory, Review of Finance, European Finance Association (2018) View citations (5) (2018)
43. Investigating the Proposed Overnight Treasury GC Repo Benchmark Rates
    Liberty Street Economics, Federal Reserve Bank of New York
44. The U.S. Bilateral Repo Market: Lessons from a New Survey
    Briefs, Office of Financial Research, US Department of the Treasury View citations (4)
45. The use of collateral in bilateral repurchase and securities lending agreements
    Staff Reports, Federal Reserve Bank of New York View citations (7)
    See also Journal Article The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2019) View citations (16) (2019)
46. Why Dealers Trade in GCF Repo®
    Liberty Street Economics, Federal Reserve Bank of New York

2015

47. Herd Behavior in Financial Markets
    Liberty Street Economics, Federal Reserve Bank of New York
48. The Eurodollar Market in the United States
    Liberty Street Economics, Federal Reserve Bank of New York View citations (2)
49. The FR 2420 Data Collection: A New Base for the Fed Funds Rate
    Liberty Street Economics, Federal Reserve Bank of New York
50. The New Overnight Bank Funding Rate
    Liberty Street Economics, Federal Reserve Bank of New York

2014

51. Are Economic Values Transmitted from Parents to Children?
    Liberty Street Economics, Federal Reserve Bank of New York
52. Gates, Fees, and Preemptive Runs
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (9)
    Also in Staff Reports, Federal Reserve Bank of New York (2014) View citations (11)
    Liberty Street Economics, Federal Reserve Bank of New York (2014) View citations (6)

2013

53. Money market funds intermediation, bank instability, and contagion
    Staff Reports, Federal Reserve Bank of New York View citations (4)
54. The Fragility of an MMF-Intermediated Financial System
    Liberty Street Economics, Federal Reserve Bank of New York
55. Twenty-Eight Money Market Funds That Could Have Broken the Buck: New Data on Losses during the 2008 Crisis
    Liberty Street Economics, Federal Reserve Bank of New York

2012

56. Estimating a structural model of herd behavior in financial markets
    Staff Reports, Federal Reserve Bank of New York View citations (1)
    Also in IMF Working Papers, International Monetary Fund (2010) View citations (3)
    See also Journal Article Estimating a Structural Model of Herd Behavior in Financial Markets, American Economic Review, American Economic Association (2014) View citations (33) (2014)
57. Money Market Funds and Systemic Risk
    Liberty Street Economics, Federal Reserve Bank of New York
58. The Flash Crash, Two Years On
    Liberty Street Economics, Federal Reserve Bank of New York
59. The Minimum Balance at Risk: A Proposal to Stabilize Money Market Funds
    Liberty Street Economics, Federal Reserve Bank of New York
60. The minimum balance at risk: a proposal to mitigate the systemic risks posed by money market funds
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (6)
    Also in Staff Reports, Federal Reserve Bank of New York (2012) View citations (12)
    See also Journal Article The Minimum Balance at Risk: A Proposal to Mitigate the Systemic Risks Posed by Money Market Funds, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (2013) View citations (8) (2013)

2010

61. Herd Behavior and Contagion in Financial Markets
    Working Papers, The George Washington University, Institute for International Economic Policy View citations (26)
    See also Journal Article Herd Behavior and Contagion in Financial Markets, The B.E. Journal of Theoretical Economics, De Gruyter (2008) View citations (89) (2008)

2008

62. Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals
    WEF Working Papers, ESRC World Economy and Finance Research Programme, Birkbeck, University of London View citations (3)
    Also in Working Papers, The George Washington University, Institute for International Economic Policy (2008) View citations (7)
    IMF Working Papers, International Monetary Fund (2008) View citations (12)
    See also Journal Article Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals, Journal of the European Economic Association, MIT Press (2009) View citations (89) (2009)

2007

63. Like Mother Like Son? Experimental Evidence on the Transmission of Values from Parents to Children
    IZA Discussion Papers, Institute of Labor Economics (IZA) View citations (24)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (24)
    See also Journal Article Like mother like son? Experimental evidence on the transmission of values from parents to children, Journal of Economic Behavior & Organization, Elsevier (2013) View citations (47) (2013)
64. Transaction costs and informational cascades in financial markets: Theory and experimental evidence
    Working Paper Series, European Central Bank View citations (4)
    Also in WEF Working Papers, ESRC World Economy and Finance Research Programme, Birkbeck, University of London (2006) View citations (3)
65. Volatility in International Financial Market Issuance: The Role of the Financial Center
    Working Papers, Hong Kong Institute for Monetary Research View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (1)
    See also Journal Article Volatility in International Financial Market Issuance: The Role of the Financial Center, Open Economies Review, Springer (2007) View citations (1) (2007)

2005

66. Herd Behavior in a Laboratory Financial Market
    Experimental, University Library of Munich, Germany View citations (142)
    See also Journal Article Herd Behavior in a Laboratory Financial Market, American Economic Review, American Economic Association (2005) View citations (140) (2005)

Journal Articles

2024

1. Anatomy of the Bank Runs in March 2023
   Richmond Fed Economic Brief, 2024, 24, (39)
   See also Working Paper Anatomy of the Bank Runs in March 2023, Liberty Street Economics (2024) (2024)

2022

2. The Money Market Mutual Fund Liquidity Facility
   Economic Policy Review, 2022, 28, (1)

2021

3. The Market Events of Mid-September 2019
   Economic Policy Review, 2021, 27, (2), 26 View citations (2)
   See also Working Paper The Market Events of Mid-September 2019, Staff Reports (2020) View citations (9) (2020)

2019

4. The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements
   Review of Economic Dynamics, 2019, 33, 228-249 View citations (16)
   See also Software Item Code and data files for "The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements", Computer Codes (2019) (2019)
   Working Paper The use of collateral in bilateral repurchase and securities lending agreements, Staff Reports (2016) View citations (7) (2016)

2018

5. Collateral Constraints and the Law of One Price: An Experiment
   Journal of Finance, 2018, 73, (6), 2757-2786 View citations (15)
6. Informational Contagion in the Laboratory
   Review of Finance, 2018, 22, (3), 877-904 View citations (5)
   See also Working Paper Informational contagion in the laboratory, Temi di discussione (Economic working papers) (2016) View citations (1) (2016)

2014

7. Estimating a Structural Model of Herd Behavior in Financial Markets
   American Economic Review, 2014, 104, (1), 224-51 View citations (33)
   See also Working Paper Estimating a structural model of herd behavior in financial markets, Staff Reports (2012) View citations (1) (2012)

2013

8. Financial contagion in the laboratory: The cross-market rebalancing channel
   Journal of Banking & Finance, 2013, 37, (11), 4310-4326 View citations (14)
9. Like mother like son? Experimental evidence on the transmission of values from parents to children
   Journal of Economic Behavior & Organization, 2013, 90, (C), 100-111 View citations (47)
   See also Working Paper Like Mother Like Son? Experimental Evidence on the Transmission of Values from Parents to Children, IZA Discussion Papers (2007) View citations (24) (2007)
10. The Minimum Balance at Risk: A Proposal to Mitigate the Systemic Risks Posed by Money Market Funds
    Brookings Papers on Economic Activity, 2013, 44, (1 (Spring)), 211-278 View citations (8)
    See also Working Paper The minimum balance at risk: a proposal to mitigate the systemic risks posed by money market funds, Finance and Economics Discussion Series (2012) View citations (6) (2012)

2012

11. A Bayesian approach to experimental analysis: trading in a laboratory financial market
    Review of Economic Design, 2012, 16, (2), 175-191 View citations (8)

2009

12. Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals
    Journal of the European Economic Association, 2009, 7, (1), 206-233 View citations (89)
    See also Working Paper Herd Behavior in Financial Markets: An Experiment with Financial Market Professionals, WEF Working Papers (2008) View citations (3) (2008)

2008

13. Herd Behavior and Contagion in Financial Markets
    The B.E. Journal of Theoretical Economics, 2008, 8, (1), 56 View citations (89)
    See also Working Paper Herd Behavior and Contagion in Financial Markets, Working Papers (2010) View citations (26) (2010)
14. Transaction costs and informational cascades in financial markets
    Journal of Economic Behavior & Organization, 2008, 68, (3-4), 581-592 View citations (29)

2007

15. Volatility in International Financial Market Issuance: The Role of the Financial Center
    Open Economies Review, 2007, 18, (2), 157-176 View citations (1)
    See also Working Paper Volatility in International Financial Market Issuance: The Role of the Financial Center, Working Papers (2007) View citations (3) (2007)

2005

16. Herd Behavior in a Laboratory Financial Market
    American Economic Review, 2005, 95, (5), 1427-1443 View citations (140)
    See also Working Paper Herd Behavior in a Laboratory Financial Market, Experimental (2005) View citations (142) (2005)
17. Noise Trading in a Laboratory Financial Market: A Maximum Likelihood Approach
    Journal of the European Economic Association, 2005, 3, (2-3), 315-321 View citations (3)

Software Items

2019

1. Code and data files for "The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements"
   Computer Codes, Review of Economic Dynamics
   See also Journal Article The Use of Collateral in Bilateral Repurchase and Securities Lending Agreements, Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics (2019) View citations (16) (2019)