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Charles M. Kahn

Professor Emeritus of Finance

Educational Background

Ph.D., Economics, Harvard University, 1981
B.A. (M.A.), Honors, Economics, University of Cambridge, 1977
B.A., Summa Cum Laude, Applied Mathematics, Harvard University, 1975

Positions Held

Co-director, Office of Banking Research, University of Illinois, 1992-2014
Chair, Finance Department, University of Illinois, 2009-2012
Fred S. Bailey Memorial Chair of Finance, University of Illinois, 1997-2015
Professor of Economics, University of Illinois, 1990-2015
Houblon Norman Fellow, Bank of England, 2007-2008
Visiting Tan-Chin Tuan Professor of Economics, National University of Singapore, 2007
Overseas Fellow, Churchill College, Cambridge University, 1999-2000
Visiting Fellow, Australian National University, 1994
Associate Professor of Economics, University of Illinois at Urbana-Champaign, 1988-1990
Associate Professor of Economics, University of Chicago, 1986-1989
Assistant Professor of Economics, University of Chicago, 1981-1985

Recent Publications

Park, H., Kahn, C. Forthcoming. Collateral, Rehypothecation, and Efficiency. Journal of Financial Intermediation

Kahn, C. 2018. The Threat of Privacy. Journal of Financial Market Infrastructures, 6: 21-30

Kahn, C., Linares-Zegarra, J., Stavins , J. 2017. Are there Social Spillovers in Consumers Security Assessments of Payment Instruments? Journal of Financial Services Research, 52: 5-34

France, V. , Kahn, C. 2016. Law as a constraint on bailouts: Emergency support for central counterparties. Journal of Financial Intermediation, 28, Issue C: 22-31

Kahn, C., Carbo-Valverde, S. 2016. Payment Systems in the US and Europe: Efficiency, Soundness and Challenges. Financial Stability Journal (Bank of Spain), 11-33

Kahn, C., Park, H. 2016. Collateral chains and Incentives. Journal of Financial Market Infrastructures, 5: 1-16

Kahn, C., Quinn, S., Roberds, W. 2016. Central Banks and Payment Systems: The Evolving Trade-off between Cost and Risk. In Michael D. Bordo, Oyvind Eitrheim, Marc Flandreau and Jan F. Qvigstad (Ed.), Central Banks at a Crossroads: What Can We Learn from History?, 563-609. Cambridge, England: Cambridge University Press.

Service Activities

Associate Editor, Journal of Financial Market Infrastructures, 2016-present
Associate Editor, Journal of Financial Intermediation, 2013-present

Teaching and Research Interests

Teaching interests: Financial institutions, game theory.

A specialist in the economics of information and uncertainty, his research focuses on the applications of the theory of contracts and incentives to banking and financial intermediation. Current projects include an examination of arrangements for payment systems, including clearing houses, wire-transfers, and electronic moneys. He has been a Houblon-Norman Fellow of the Bank of England and is currently a visiting scholar at the Federal Reserve Bank of Chicago.