Publications

Precautionary Demand and Liquidity in Payment Systems
With Hyun Song Shin
Journal of Money, Credit and Banking, 43 (s2), 589-619, October 2011
See also ››
Federal Reserve Bank of New York Staff Reports 352

Stressed, not Frozen: The Federal Funds Market in the Financial Crisis
With Anna Kovner and Antoinette Schoar
Journal of Finance, 66 (4), 1109-1139, August 2011
See also ››
Federal Reserve Bank of New York Staff Reports 437

Liquidity and Congestion
Journal of Financial Intermediation, 20 (3), 324-360, July 2011
See also ››
Federal Reserve Bank of New York Staff Reports, 349, October 2008

Imperfect Common Knowledge in First Generation Models of Currency Crises
International Journal of Central Banking,3 (1), (2007)
81-111

Gara Afonso's CV

The views expressed in the papers listed on this page are those of the author(s) and do not necessarily reflect the position of the Federal Reserve Bank of New York or the Federal Reserve System.