Charles M. Kahn on "Eggs in One Basket: Choosing the Number of Accounts"

You are warmly invited to the below joint seminar between the Department of Economics, Centre for Financial Risk and Department of Applied Finance at Macquarie University.

Please find the below details of our joint seminar.

Speaker: Charles M. Kahn, Professor Emeritus in the Department of Finance at the University of Illinois

Time: 11:00am - 12:00noon (morning tea to be served from 10:30am)

Title: Eggs in One Basket: Choosing the Number of Accounts

Abstract:

Digital currencies store balances using anonymous addresses. We analyze the trade-offs between, safety and convenience of aggregating balances. In our model agents balance the risk of theft of a large account with the cost to safe- guarding a large number of passwords of many small accounts. Account cus-todians (banks and other payment service providers) have different objectives and tradeoffs on these dimensions; we analyze the welfare effects of differing industry structures and interdependencies.

Speaker profile:

Charles M. Kahn is Professor Emeritus in the Department of Finance at the University of Illinois. He previously served as the Bailey Memorial Professor and as department chair, as well as co-director of its Office for Banking Research. He is currently a Research Fellow at the Federal Reserve Bank of St. Louis and a Visiting Scholar at Bank of Canada

An authority on banking and financial intermediation, he has been an overseas fellow at Churchill College, Cambridge University; a visiting fellow at the Australian National University; a National Fellow of the Hoover Institution, Stanford University; a Houblon-Norman fellow at the Bank of England; and the Visiting Tan Chin Tuan Professor at the National University of Singapore. He consults regularly for central banks throughout the world and has been a visiting scholar at the Federal Reserve Banks of Atlanta, Chicago, and New York. His current research specialties are payment systems and liquidity.

Speaker profile link:

https://business.illinois.edu/profile/charles-kahn/

We look forward to seeing you there.

If you have any further inquiries, please contact Seminar Coordinator Kathy Ge at kathy.ge@mq.edu.au