Charles M. Kahn
Bailey Memorial Chair
of Money, Banking, and Finance and Professor of Economics
Economics, Harvard University, 1981
M.A. Economics, University of Cambridge, 1977
B.A. Applied Mathematics, Harvard College, 1975.
the University of Illinois since 1988. Co-director, Office for Banking
Research, 1992-present. Associate professor of economics, University
of Chicago, 1981-89.
Kahn, C., Engelbrecht-Wiggans, R. Low revenue equilibria in
simultaneous ascending price auctions. Management Science,
Kahn, C. & Winton, A. Moral hazard and optimal subsidiary structure
for financial institutions. Journal of Finance, forthcoming.
Kahn, C., Pennachi, G., & Sopranzetti, B. Bank consolidation and
consumer loan interest rates. Journal of Business, supplement
to 78 (2). forthcoming.
Kahn, C., & Santos, J. A. C. 2004. Allocating lending of last resort
and supervision in the Euro area. In von Furstenberg, G. M.,
Alexander, V., & Melitz, J., (Eds.), Monetary unions and hard
pegs: Effects on trade, financial development, and stability.
Chapter 17. Oxford, U.K.: Oxford University Press.
Kahn, C., Roberds, W., & McAndrews, J. 2003. Settlement risk under
gross and net settlement. Journal of Money, Credit, and Banking,
Kahn, C., & Engelbrecht-Wiggans, R. 2002. Multiunit auctions in
which almost every bid wins. Southern Economic Journal: 68:
Kahn, C., & Roberds, W. 2001. Real time gross settlement and the
costs of immediacy. Journal of Monetary Economics, 47:
Colwell, P., & Kahn, C. 2001. Economic functions of referrals and
referral fees. Journal of Real Estate Finance and Economics,
Kahn, C., & Roberds, W. 2001. The CLS bank: A solution to the risks
of international payments settlement? Carnegie-Rochester
Conference Series on Public Policy, 54: 191-226.
Honors and Awards
College of Business
Excellence in Research Award, 2002. Visiting scholar, the
Federal Reserve Bank of Cleveland, 1997-present, and the
Federal Reserve Bank of Atlanta, 1994-present.
Commerce Alumni Teaching Award, 1999. Overseas fellow,
Churchill College, Cambridge University, 1999-2000. National
Fellow, Hoover Institution, Stanford University, 1985-86.
Editorial Board, Economics Bulletin, 2000-present;
Economic Theory, 1997-2001; Annals of Finance,
2004 to present; Journal of Economics and Management
Strategy, 2004 to present.
courses in financial institutions, information and uncertainty, and
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, investigation
of multi-unit auctions, and documenting features of consumer interest
rate pricing by banks. He is a consultant to the Federal Reserve Banks
of Atlanta and Cleveland.
419 Wohlers Hall
1206 South Sixth Street
Champaign, IL 61820