The (Dis)Advantages of Clearinghouses Before the Fed
NBER Working Paper No. 23113
---- Acknowledgments ----
The author would like to thank Charles Calomiris, Mark Carlson, Eric Hilt, Ellis Tallman, David Weiman, and David Wheelock as well as seminar participants at Barnard College, Vanderbilt University, University of Delaware, the Federal Reserve Board, and the Federal Reserve Bank of Atlanta for their valuable comments and suggestions. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.