Contact Information
202-530-6265
david.c.mills@frb.gov

Fields of Interest
Monetary Economics
Banking and Financial Institutions
Macroeconomics

Education
Ph.D., Economics, The Pennsylvania State University, 2001
M.A., Economics, The Pennsylvania State University, 2000
B.A., Economics and Classical Languages, Duquesne University, 1994

Professional Experience
Board of Governors of the Federal Reserve System, 2002-present
Visiting Assistant Professor, Purdue University, 2001-2002

Selected Publications

• ''An Economic Perspective on the Enforcement of Credit Arrangements: The Case of Daylight Overdrafts in Fedwire'' (with Antoine Martin), Federal Reserve Bank of New York Economic Policy Review, vol. 14 (September 2008), pp. 161-168.
• ''Imperfect Monitoring and the Discounting of Inside Money,'' International Economic Review, vol. 49 (August 2008), pp. 737-754.
• ''Risk and Concentration in Payment and Securities Settlement Systems'' (with Travis Nesmith), Journal of Monetary Economics, vol. 55 (April 2008), pp. 542-553.
• ''A Model in which Outside and Inside Money are Essential,'' Macroeconomic Dynamics, vol. 11 (July 2007), pp. 347-366.
• ''Alternative Central Bank Credit Policies for Liquidity Provision in a Model of Payments,'' Journal of Monetary Economics, vol. 53 (October 2006), pp. 1593-1611.
• ''Mechanism Design and the Role of Enforcement in Freeman's Model of Payments,'' Review of Economic Dynamics, vol. 7 (January 2004), pp. 219-36.
• ''The Size of Meetings and the Role of Money,'' Economics Letters, vol. 76 (August 2002), pp. 337-43.
• Risk and Concentration in Payment and Securities Settlement Systems (with Travis Nesmith), Finance and Economics Discussion Series 2007-62. Washington: Board of Governors of the Federal Reserve System, 2007.
• Imperfect Monitoring and the Discounting of Inside Money, Finance and Economics Discussion Series 2007-58. Washington: Board of Governors of the Federal Reserve System, 2007.
• A Model in which Outside and Inside Money are Essential, Finance and Economics Discussion Series 2006-38. Washington: Board of Governors of the Federal Reserve System, 2006.
• Alternative Central Bank Credit Policies for Liquidity Provision in a Model of Payments, Finance and Economics Discussion Series 2005-55. Washington: Board of Governors of the Federal Reserve System, 2005.