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Details about James Joseph McAndrews

E-mail:
Homepage:https://sites.google.com/site/jamesjmcandrews/home
Postal address:Philadelphia, PA
Workplace:Financial Institutions Center, Wharton School of Business, University of Pennsylvania, (more information at EDIRC)

Access statistics for papers by James Joseph McAndrews.

Last updated 2020-09-08. Update your information in the RePEc Author Service.

Short-id: pmc59


Jump to Journal Articles

Working Papers

2020

  1. Explaining the Puzzling Behavior of Short-Term Money Market Rates
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  2. Shadow Digital Money
    MPRA Paper, University Library of Munich, Germany Downloads

2019

  1. Federal Reserve tools for managing rates and reserves
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (6)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2015) Downloads View citations (10)
  2. Two-Sided Market, R&D and Payments System Evolution
    IMF Working Papers, International Monetary Fund Downloads
    Also in Working Paper, Federal Reserve Bank of Richmond (2019) Downloads

2016

  1. The payment system benefits of high reserve balances
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (2)

2015

  1. Credit growth and economic activity after the Great Recession
    Speech, Federal Reserve Bank of New York Downloads
  2. Economic research and stress testing
    Speech, Federal Reserve Bank of New York Downloads
  3. Floor systems and the Friedman rule: the fiscal arithmetic of open market operations
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (1)
  4. Interest-Bearing Securities When Interest Rates are Below Zero
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  5. Modern recipes for financial crises
    Speech, Federal Reserve Bank of New York Downloads
  6. Negative nominal central bank policy rates: where is the lower bound?
    Speech, Federal Reserve Bank of New York Downloads View citations (20)
  7. Opening remarks at the Mortgage Contract Design: Implications for Households, Monetary Policy, and Financial Stability Conference
    Speech, Federal Reserve Bank of New York Downloads View citations (1)
  8. Segregated balance accounts
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (5)
  9. Student debt and higher education financing: a public finance perspective
    Speech, Federal Reserve Bank of New York Downloads
  10. The effect of the Term Auction Facility on the London inter-bank offered rate
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (68)
    See also Journal Article in Journal of Banking & Finance (2017)

2014

  1. A review of the experience of fielding the Survey of Consumer Expectations
    Speech, Federal Reserve Bank of New York Downloads
  2. Evolution in Bank Complexity
    Liberty Street Economics, Federal Reserve Bank of New York Downloads View citations (1)
    See also Journal Article in Economic Policy Review (2014)
  3. Parting Reflections on the Series on Large and Complex Banks
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  4. Remarks at the Fifth Data Management Strategies and Technologies Workshop
    Speech, Federal Reserve Bank of New York Downloads
    Also in Speech, Federal Reserve Bank of New York (2014) Downloads
  5. Turnover in Fedwire Funds Has Dropped Considerably since the Crisis, but It's Okay
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  6. Why Large Bank Failures Are So Messy and What to Do about It?
    Liberty Street Economics, Federal Reserve Bank of New York Downloads

2013

  1. Are Higher Haircuts Better? A Paradox
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  2. More Than Meets the Eye: Some Fiscal Implications of Monetary Policy
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  3. The economy and the Household Debt and Credit Report
    Speech, Federal Reserve Bank of New York Downloads
  4. The risk of fire sales in the tri-party repo market
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (7)
    See also Journal Article in Contemporary Economic Policy (2016)

2012

  1. How the High Level of Reserves Benefits the Payment System
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  2. If Interest Rates Go Negative... Or, Be Careful What You Wish For
    Liberty Street Economics, Federal Reserve Bank of New York Downloads
  3. Summary of the Report on the Competitiveness of Puerto Rico's Economy
    Speech, Federal Reserve Bank of New York Downloads
  4. The economics of two-sided payment card markets: pricing, adoption and usage
    Working Paper, Federal Reserve Bank of Richmond Downloads View citations (2)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (2008) Downloads View citations (14)
  5. What’s Driving Up Money Growth?
    Liberty Street Economics, Federal Reserve Bank of New York Downloads

2011

  1. A note on bank lending in times of large bank reserves
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (8)
  2. Did the Fed’s Term Auction Facility Work?
    Liberty Street Economics, Federal Reserve Bank of New York Downloads

2010

  1. Quantifying the benefits of a liquidity-saving mechanism
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (2)

2009

  1. Precautionary reserves and the interbank market
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (23)
    See also Journal Article in Journal of Money, Credit and Banking (2011)
  2. Why are banks holding so many excess reserves?
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (50)
    See also Journal Article in Current Issues in Economics and Finance (2009)

2008

  1. A study of competing designs for a liquidity-saving mechanism
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (19)
    See also Journal Article in Journal of Banking & Finance (2010)
  2. Settlement delays in the money market
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (4)
    See also Journal Article in Journal of Banking & Finance (2010)
  3. Should there be intraday money markets?
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (3)
    See also Journal Article in Contemporary Economic Policy (2010)
  4. The welfare effects of a liquidity-saving mechanism
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (24)

2007

  1. Liquidity saving mechanisms
    2007 Meeting Papers, Society for Economic Dynamics Downloads
    Also in Staff Reports, Federal Reserve Bank of New York (2007) Downloads View citations (10)

    See also Journal Article in Journal of Monetary Economics (2008)
  2. Microfoundations of Two-sided Markets: The Payment Card Example
    DNB Working Papers, Netherlands Central Bank, Research Department Downloads View citations (6)
    Also in Payments System Research Working Paper, Federal Reserve Bank of Kansas City (2006) Downloads View citations (4)

2006

  1. Funding Levels for the New Accounts in the BOJ-NET
    Bank of Japan Working Paper Series, Bank of Japan Downloads View citations (2)

2004

  1. Money is privacy
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (3)
    See also Journal Article in International Economic Review (2005)

2001

  1. A Theory of Transactions Privacy
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania Downloads View citations (1)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (2000) Downloads View citations (8)
  2. Can small banks survive deregulation? the role of the Fed in the correspondent banking market
    Proceedings, Federal Reserve Bank of Chicago
  3. E-Finance: An Introduction
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania Downloads View citations (1)
    See also Journal Article in Journal of Financial Services Research (2002)
  4. To surcharge or not to surcharge: an empirical investigation of ATM pricing
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
    See also Journal Article in The Review of Economics and Statistics (2003)

1999

  1. A general equilibrium analysis of check float
    Staff Reports, Federal Reserve Bank of New York Downloads View citations (9)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (1997) Downloads View citations (1)

    See also Journal Article in Journal of Financial Intermediation (1999)
  2. Payment intermediation and the origins of banking
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (17)
    Also in Staff Reports, Federal Reserve Bank of New York (1999) Downloads View citations (29)
  3. Settlement risk under gross and net settlement
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta Downloads View citations (8)
    Also in Staff Reports, Federal Reserve Bank of New York (1999) Downloads View citations (8)

    See also Journal Article in Journal of Money, Credit and Banking (2003)

1998

  1. Direct presentment regulation in payments
    Proceedings, Federal Reserve Bank of Chicago View citations (1)
    See also Journal Article in Research in Economics (1998)
  2. Financial services for the urban poor: South Africa's E Plan
    Policy Research Working Paper Series, The World Bank Downloads View citations (5)
  3. Joint venture payment networks and public policy
    Proceedings, Federal Reserve Bank of Chicago

1997

  1. A model of check exchange
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (2)
  2. Banking and payment system stability in an electronic money world
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (8)

1996

  1. Pricing in vertically integrated network switches
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (5)
  2. Retail pricing of ATM network services
    Working Papers, Federal Reserve Bank of Philadelphia Downloads View citations (3)

1995

  1. Simulations of failure in a payment system
    Working Papers, Federal Reserve Bank of Philadelphia View citations (8)

1994

  1. Banks, payments, and coordination
    Working Papers, Federal Reserve Bank of Philadelphia View citations (2)
    Also in FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta (1994)

    See also Journal Article in Journal of Financial Intermediation (1995)
  2. Shared ownership and pricing in a network switch
    Working Papers, Federal Reserve Bank of Philadelphia View citations (2)
    See also Journal Article in International Journal of Industrial Organization (1996)

1993

  1. Network externalities and shared electronic banking network adoption
    Working Papers, Federal Reserve Bank of Philadelphia View citations (1)

1992

  1. Results of a survey of ATM network pricing
    Working Papers, Federal Reserve Bank of Philadelphia View citations (2)

1991

  1. Worker debt with bankruptcy
    Working Papers, Federal Reserve Bank of Philadelphia

1990

  1. Regional authorities, public services, and the location of economic activity
    Working Papers, Federal Reserve Bank of Philadelphia

1989

  1. Entry-deterring debt
    Working Papers, Federal Reserve Bank of Philadelphia View citations (3)
    See also Journal Article in Journal of Money, Credit and Banking (1992)
  2. Strategic role complementarity
    Working Papers, Federal Reserve Bank of Philadelphia

Journal Articles

2017

  1. Net Settlement and Counterparty Risk: Evidence from the Formation of the New York Stock Exchange Clearing House in 1892
    Journal of Money, Credit and Banking, 2017, 49, (6), 1273-1298 Downloads
  2. The effect of the term auction facility on the London interbank offered rate
    Journal of Banking & Finance, 2017, 83, (C), 135-152 Downloads View citations (9)
    See also Working Paper (2015)

2016

  1. Bank Lending in Times of Large Bank Reserves
    International Journal of Central Banking, 2016, 12, (4), 193-222 Downloads View citations (25)
  2. THE RISK OF FIRE SALES IN THE TRI-PARTY REPO MARKET
    Contemporary Economic Policy, 2016, 34, (3), 513-530 Downloads
    See also Working Paper (2013)

2014

  1. Evolution in bank complexity
    Economic Policy Review, 2014, (Dec), 85-106 Downloads View citations (11)
    See also Working Paper (2014)
  2. Matching collateral supply and financing demands in dealer banks
    Economic Policy Review, 2014, (Dec), 127-151 Downloads View citations (7)
  3. Stability of funding models: an analytical framework
    Economic Policy Review, 2014, (Feb), 29-47 Downloads View citations (16)
  4. What makes large bank failures so messy and what should be done about it?
    Economic Policy Review, 2014, (Dec), 229-244 Downloads View citations (1)

2013

  1. Wall Street and Main Street: the macroeconomic consequences of New York bank suspensions, 1866–1914
    Cliometrica, Journal of Historical Economics and Econometric History, 2013, 7, (2), 99-130 Downloads View citations (11)

2012

  1. Settlement liquidity and monetary policy implementation—lessons from the financial crisis
    Economic Policy Review, 2012, 18, (Mar), 3-20 Downloads View citations (7)

2011

  1. Payment Systems
    Annual Review of Financial Economics, 2011, 3, (1), 259-287 Downloads View citations (2)
  2. Precautionary Reserves and the Interbank Market
    Journal of Money, Credit and Banking, 2011, 43, (s2), 311-348 Downloads View citations (2)
    Also in Journal of Money, Credit and Banking, 2011, 43, 311-348 (2011) Downloads View citations (101)

    See also Working Paper (2009)

2010

  1. A study of competing designs for a liquidity-saving mechanism
    Journal of Banking & Finance, 2010, 34, (8), 1818-1826 Downloads View citations (5)
    See also Working Paper (2008)
  2. SHOULD THERE BE INTRADAY MONEY MARKETS?
    Contemporary Economic Policy, 2010, 28, (1), 110-122 Downloads View citations (3)
    See also Working Paper (2008)
  3. Settlement delays in the money market
    Journal of Banking & Finance, 2010, 34, (5), 934-945 Downloads View citations (10)
    See also Working Paper (2008)

2009

  1. Rating the raters: Are reputation concerns powerful enough to discipline rating agencies?
    Journal of Monetary Economics, 2009, 56, (5), 657-674 Downloads View citations (181)
  2. The Federal Reserve's Primary Dealer Credit Facility
    Current Issues in Economics and Finance, 2009, 15, (Aug) Downloads View citations (40)
  3. Why are banks holding so many excess reserves?
    Current Issues in Economics and Finance, 2009, 15, (Dec) Downloads View citations (73)
    See also Working Paper (2009)

2008

  1. An economic analysis of liquidity-saving mechanisms
    Economic Policy Review, 2008, 14, (Sep), 25-39 Downloads View citations (24)
  2. Changes in the timing distribution of Fedwire funds transfers
    Economic Policy Review, 2008, 14, (Sep), 83-112 Downloads View citations (25)
  3. Comprendiendo la administración de riesgos en los pagos minoristas emergentes
    Boletín, 2008, LIV, (1), 29-52 Downloads
  4. Divorcing money from monetary policy
    Economic Policy Review, 2008, 14, (Sep), 41-56 Downloads View citations (84)
  5. Liquidity-saving mechanisms
    Journal of Monetary Economics, 2008, 55, (3), 554-567 Downloads View citations (32)
    See also Working Paper (2007)
  6. The Federal Reserve's Term Auction Facility
    Current Issues in Economics and Finance, 2008, 14, (Jul) Downloads View citations (59)
  7. Understanding risk management in emerging retail payments
    Economic Policy Review, 2008, 14, (Sep), 137-159 Downloads View citations (3)

2006

  1. Alternative arrangements for the distribution of intraday liquidity
    Current Issues in Economics and Finance, 2006, 12, (Apr) Downloads View citations (6)

2005

  1. MONEY IS PRIVACY
    International Economic Review, 2005, 46, (2), 377-399 Downloads View citations (15)
    See also Working Paper (2004)

2004

  1. Economizing on liquidity with deferred settlement mechanisms
    Economic Policy Review, 2004, (Dec), 51-72 Downloads View citations (11)

2003

  1. Automated Teller Machine Network Pricing - A Review of the Literature
    Review of Network Economics, 2003, 2, (2), 1-13 Downloads View citations (28)
  2. Settlement Risk under Gross and Net Settlement
    Journal of Money, Credit and Banking, 2003, 35, (4), 591-608 View citations (32)
    See also Working Paper (1999)
  3. To Surcharge or Not to Surcharge: An Empirical Investigation of ATM Pricing
    The Review of Economics and Statistics, 2003, 85, (4), 990-1002 Downloads View citations (30)
    See also Working Paper (2001)

2002

  1. Deregulation, Correspondent Banking, and the Role of the Federal Reserve
    Journal of Financial Intermediation, 2002, 11, (3), 320-343 Downloads
  2. E-Finance: An Introduction
    Journal of Financial Services Research, 2002, 22, (1), 5-27 Downloads View citations (9)
    See also Working Paper (2001)
  3. Liquidity effects of the events of September 11, 2001
    Economic Policy Review, 2002, 8, (Nov), 59-79 Downloads View citations (33)
  4. The consolidation of European stock exchanges
    Current Issues in Economics and Finance, 2002, 8, (Jun) Downloads View citations (16)

2001

  1. Personal on-line payments
    Economic Policy Review, 2001, (Dec), 35-50 Downloads View citations (8)

2000

  1. Opening the “Black Box” of Network Externalities in Network Adoption
    Information Systems Research, 2000, 11, (1), 61-82 Downloads View citations (3)
  2. The economics of check float
    Economic Review, 2000, 85, (Q4), 17-27 Downloads View citations (4)
  3. The emergence of electronic communications networks in the U.S. equity markets
    Current Issues in Economics and Finance, 2000, 6, (Oct) Downloads View citations (12)
  4. The timing and funding of Fedwire funds transfers
    Economic Policy Review, 2000, (Jul), 17-32 Downloads View citations (37)

1999

  1. A General Equilibrium Analysis of Check Float
    Journal of Financial Intermediation, 1999, 8, (4), 353-377 Downloads View citations (9)
    See also Working Paper (1999)
  2. Comment on Demandable Debt as a Means of Payment: Banknotes versus Checks
    Journal of Money, Credit and Banking, 1999, 31, (3), 526-28 View citations (1)
  3. E‐MONEY AND PAYMENT SYSTEM RISKS
    Contemporary Economic Policy, 1999, 17, (3), 348-357 Downloads View citations (5)
  4. Panel discussion: thoughts on the future of payments and central banking
    Proceedings, 1999, 668-681 View citations (1)
  5. Panel: Thoughts on the Future of Payments and Central Banking: Arrangements for Access to Payment Credit
    Journal of Money, Credit and Banking, 1999, 31, (3), 671-73

1998

  1. ATM surcharges
    Current Issues in Economics and Finance, 1998, 4, (Apr) Downloads View citations (5)
  2. Direct presentment regulation in payments
    Research in Economics, 1998, 52, (3), 311-326 Downloads View citations (2)
    See also Working Paper (1998)

1997

  1. Making payments on the Internet
    Business Review, 1997, (Jan), 1-12 Downloads View citations (1)
  2. Network issues and payment systems
    Business Review, 1997, (Nov), 15-25 Downloads View citations (22)

1996

  1. Shared ownership and pricing in a network switch
    International Journal of Industrial Organization, 1996, 14, (6), 727-745 Downloads View citations (16)
    See also Working Paper (1994)

1995

  1. Antitrust and payment technologies: commentary
    Review, 1995, (Nov), 55-59 Downloads
  2. Antitrust issues in payment systems: bottlenecks, access, and essential facilities
    Business Review, 1995, (Sep), 3-12 Downloads View citations (4)
  3. Banks, Payments, and Coordination
    Journal of Financial Intermediation, 1995, 4, (4), 305-327 Downloads View citations (32)
    See also Working Paper (1994)

1994

  1. The automated clearinghouse system: moving toward electronic payment
    Business Review, 1994, (Jul), 15-23 Downloads View citations (3)

1992

  1. Entry-Deterring Debt
    Journal of Money, Credit and Banking, 1992, 24, (1), 98-110 Downloads View citations (3)
    See also Working Paper (1989)
  2. Where has all the paper gone? Book-entry delivery-against-payment systems
    Business Review, 1992, (Nov), 19-30 Downloads View citations (2)

1991

  1. The evolution of shared ATM networks
    Business Review, 1991, (May), 3-16 Downloads View citations (12)

1990

  1. How will third district banks fare in the 1990's?
    Business Review, 1990, (Jan), 13-25 Downloads
 
Page updated 2020-10-23