Policy Papers
Financial Stability Implications of CBDC, with Jin-Wook Chang, Sebastian Infante, Melissa Leistra, Arazi Lubis, and Alexandros P. Vardoulakis. Finance and Economics Discussion Series (FEDS) 2024-021, Board of Governors of the Federal Reserve System, September (2024).
Tokenization: Overview and Financial Stability Implications, with Grace Chuan, Jacob Gerszten, Chelsea Hunter, Nathan Swem. Finance and Economics Discussion Series (FEDS) 2023-060, Board of Governors of the Federal Reserve System, September (2023).
The Stable in Stablecoins, with Garth Baughman, Jacob Gerszten, David Mills. FEDS Notes December 16, 2022, Board of Governors of the Federal Reserve System (2022).
Cited in the Economic Report of the President, March 2023.
The Financial Stability Implications of Digital Assets, with Pablo Azar, Garth Baughman, Jacob Gerszten, Arazi Lubis, JP Perez-Sangimino, David E. Rappoport, Chiara Scotti, Nathan Swem, Alexandros Vardoulakis, Aurite Werman. Staff Reports No. 1034, Federal Reserve Bank of New York, (2022).
Decentralized Finance (DeFi): Transformative Potential and Associated Risks, with Edward Dumas, Jacob Gerszten, Nathan Swem, Larry Wall. Finance and Economics Discussion Series (FEDS), Board of Governors of the Federal Reserve System, August (2022).
Cited in the Economic Report of the President, March 2023.
Central Bank Digital Currency: A Literature Review, with Jean Flemming. FEDS Notes November 09, 2020, Board of Governors of the Federal Reserve System, (2020).
Federal Funds Rate Control with Voluntary Reserve Targets, with Garth Baughman. FEDS Notes August 26, 2019, Board of Governors of the Federal Reserve System, (2019).