Refereed Publications

"Credit, Banking, Liquidity Shortfall, and Monetary Policy" with Manjong Lee, 2016, International  Review of Economics and Finance, 46, 87-99. (Working Paper version)

"Multiple Means of Payment, Excess Reserves, and Monetary Policy" with Manjong Lee, 2016, Korean Economic Review, 32, 5-21. [Lead Article]

"Inflation, Credit, and Indexed Unit of Accountwith Ohik Kwon and Manjong Lee, 2016, International Review of Economics and Finance, 41, 144-154. (Working Paper version)

"Monetary Policy, Endogenous Transactions, and Financial Market Segmentation", 2015, Journal of Macroeconomics, 44, 234-251. (Working Paper version)

"Money, Credit, Risk of Loss, and Limited Participation", 2014, International Review of  Economics and Finance, 34, 9-23. (Working Paper version)

"Money and Risk of Loss in an Asset Market Segmentation Model", 2013, International Review of Economics and Finance, 25, 146-155. (Working Paper version)

"Money, Credit, and Limited Participation", 2011, Macroeconomic Dynamics, 15, 615-655. (Working Paper version)

"Money and Crime In a Cash-In-Advance Model", 2011, Southern Economic Journal, 77, 652-673. (Working Paper version

"Monetary Policy and Endowment Risk in a Limited Participation Model", 2011, Economic Inquiry49, 89-93. (Working Paper version)

"Money, Credit, and Opportunity Costs", 2009, Bohum Geumyung Yeon-Gu (Journal of  Insurance Studies), 20, 229-257. 



Working Papers

"Payments Systems, Interest, Distribution, and Monetary Policy",  2017.

"Inflation Risk, Settlement Cycles, and Monetary Policy",  2017.

"Money, Payments Systems, Limited Participation, and Monetary Policy",  2017.