David C. Mills, Jr. Visiting Assistant Professor, Purdue University, Krannert School of Management, Department of Economics,

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1 David C. Mills, Jr. Contact Information: Federal Reserve Board of Governors Telephone: (202) Mail Stop 188 Fax: (202) th and C Streets, NW David.C.Mills@frb.gov Washington, DC Federal Reserve Website: Citizenship: United States Professional Experience: Education: Manager, Board of Governors of the Federal Reserve System, Payment Systems Studies Section, -present Economist, Board of Governors of the Federal Reserve System, Payment Systems Studies Section, Visiting Assistant Professor, Purdue University, Krannert School of Management, Department of Economics, Graduate Assistant and Instructor, The Pennsylvania State University, Department of Economics, Ph.D. in Economics, The Pennsylvania State University, M.A. in Economics, The Pennsylvania State University, 2000 B.A. in Economics and Classical Languages, Duquesne University 1994 Refereed Publications: Interlinkages between Payment and Securities Settlement Systems, joint with Samia Husain, Annals of Finance, forthcoming. Imperfect Monitoring and the Discounting of Inside Money, International Economic Review,, 49 (3), pp Risk and Concentration in Payment and Securities Settlement Systems joint with Travis Nesmith, Journal of Monetary Economics,, 55 (3), pp A Model in Which Outside and Inside Money are Essential, Macroeconomic Dynamics, 2007, 11 (3), pp

2 Alternative Central Bank Credit Policies for Liquidity Provision in a Model of Payments, Journal of Monetary Economics,, 53 (7), pp Mechanism Design and the Role of Enforcement in Freeman's Model of Payments, Review of Economic Dynamics,, 7 (1), pp The Size of Meetings and the Role of Money, Economics Letters, 2002, 76 (3), pp Federal Reserve Publications: An Economic Perspective on the Enforcement of Credit Arrangements: The Case of Daylight Overdrafts in Fedwire joint with Antoine Martin, Federal Reserve Bank of New York Economic Policy Review,, 14 (2), pp Non-refereed Publications: "Operational outages in large value payment systems", in Kahn, C.M. (ed.), Effective Oversight of Payment and Settlement Systems: Maintaining financial plumbing, The Marketing & Management Collection, Henry Stewart Talks Ltd, London (online at Mills) Working Papers: Default Risk and Collateral in the Absence of Commitment joint with Robert Reed, University of Alabama (revise and resubmit) Information insensitive securities: the benefits of Central Counterparites joint with Francesca Carapella, Federal Reserve Board Repos, Fire Sales, and Bankruptcy Policy joint with Gaetano Antinolfi, Francesca Carapella, Charles Kahn, and Ed Nosal Papers in Progress: Societal Benefits of Electronic Payments

3 Central Bank Publication: Central Bank Oversight of Payment and Settlement Systems, with numerous coauthors as a contributor on the Working Group on Oversight of Payment and Settlement Systems for the Committee on Payment and Settlement Systems Presentations: Departmental Seminars o University of Alabama o University of Missouri o Federal Reserve Bank of Minneapolis o Federal Reserve Bank of Philadelphia o University of Alabama o Texas A&M University o Iowa State University o Federal Reserve Bank of New York o European Central Bank o University of Kentucky o Federal Reserve Bank of Richmond o Michigan State University o Purdue University o Federal Reserve Bank of Philadelphia o Federal Reserve Bank of Cleveland o United States Naval Academy Conferences o The Optimal Design of Payments Systems Workshop, Consortium on Financial Systems and Poverty, Massachusetts Institute of Technology o Federal Reserve Bank of New York s 4 th Annual Money and Payments Workshop

4 o Bank of Canada Workshop on Payments Systems, Collateral and Liquidity o Chicago Fed Summer Workshop on Money, Banking and Payments o Liquidity in Interdependent Transfer Systems Conference, Banque de France o Cleveland Fed Summer Workshop on Money, Banking and Payments o New York Fed Workshop on Money and Payments o Econometric Society Winter Meetings o Cleveland Fed Workshop on Money Banking and Payments o Cleveland Fed Workshop on Money, Banking and Payments o Econometric Society Summer Meetings o Midwest Macroeconomic Meetings o Cleveland Fed Monetary Theory Workshop o North American Summer Meetings of the Econometric Society o Midwest Macroeconomics Conference o Midwest Macroeconomics Conference Grants and Fellowships: Travel grant to attend the Tenth Jerusalem Summer School in Economic Theory, Hebrew University of Jerusalem, Israel, June 1999 Professional Activities: Referee: Bank of England Financial Stability Working Paper Series The B.E. Journal of Macroeconomics Computational Economics Contemporary Economic Policy Economics Letters

5 Economic Theory (3) Federal Reserve Bank of New York Economic Policy Review (2) International Economic Review Journal of Economic Dynamics and Control (2) Journal of Economic Theory Journal of Financial Intermediation Journal of Monetary Economics (4) Journal of Money, Credit and Banking (2) Journal of Political Economy Macroeconomic Dynamics Omega, The International Journal of Management Science Review of Economic Dynamics Review of Finance Conference Organizations: Lead organizer of Workshop on Payment Economics at the Federal Reserve Board, June 2011 Co-organizer of Workshop on Payment Economics at the Bank of Canada, November Discussant: Economics of Payments III, Federal Reserve Bank of Atlanta Econometric Society Winter Meetings Seng Conference on Money, Banking and Economic Development, University of Notre Dame Federal Reserve System Macroeconomics Meeting The Economics of Payments Conference, Federal Reserve Bank of Atlanta North American Summer Meetings of the Econometric Society