• "On the Threat of Counterfeiting" (with Guillaume Rocheteau) Macroeconomic Dynamics, forthcoming. paper

• "A Macroeconomic Model on the Quality of Government and Economic Performance" (with Te-Tsun Chang), Economic Inquiry, forthcoming. paper

• "Currency and Checking Deposits as Means of Payment," Review of Economic Dynamics, forthcoming. paper

• "A Theory of International Currency: Competition and Discipline" (with Akihiko Matsui), Journal of The Japanese and International Economies, 23, 407–426, 2009. paper

• "Another Example of a Credit System that Coexists with Money," (joint with Gabriele Camera) Journal of Money, Credit and Banking, 40:6, 1295-1308, 2008. paper

• "Inside Money, Organized Markets, and Specialization," Macroeconomic Dynamics 11:3, 388-404, 2007. working paper version

• "Banks, Private Money, and Government Regulation," Journal of Monetary Economics 53, 2067-2083, 2006. working paper version

• "Will the New-style Currency Decrease Counterfeiting? -- the Effect of Withdrawal Policy" (with Y-S Lee, in Chinese) Taiwan Economic Review 33, 229-255, 2005 paper abstract

• "Government Transaction Policy and Gresham's Law," Journal of Monetary Economics 49, 435-453, 2002.

• "A Search Model of Money and Circulating Private Debt with Applications to Monetary Policy," International Economic Review 42, 925-946, 2001.

• "Money and Middlemen in an Economy with Private Information," Economic Inquiry 37, 1-12, 1999.

• "Middlemen and Private Information," Journal of Monetary Economics 42, 131-159, 1998.

• "Government Transaction Policy, Media of Exchange, and Prices," (joint with Randall Wright), Journal of Economic Theory 81, 290-313, 1998.

• "Commodity money under private information," Journal of Monetary Economics 36, 573-592, 1995.