Details about Joshua Aizenman

E-mail:
Homepage:	http://econ.ucsc.edu/directory/details.php?id=34
Phone:	(831) 459-4791
Postal address:	Professor Joshua Aizenman Department of Economics, E2 UCSC and the NBER 1156 High St. Santa Cruz, CA 95064
Workplace:	Economics Department, University of California-Santa Cruz (UCSC), (more information at EDIRC)

Access statistics for papers by Joshua Aizenman.

Last updated 2009-08-21. Update your information in the RePEc Author Service.

Short-id: pai8

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Working Papers

2009

1. Financial Crisis and the Paradox of Under- and Over-Regulation
   NBER Working Papers, National Bureau of Economic Research, Inc
2. On the Paradox of Prudential Regulations in the Globalized Economy: International Reserves and the Crisis a Reassessment
   NBER Working Papers, National Bureau of Economic Research, Inc
3. Selective Swap Arrangements and the Global Financial Crisis: Analysis and Interpretation
   NBER Working Papers, National Bureau of Economic Research, Inc

2008

4. Assessing the Emerging Global Financial Architecture: Measuring the Trilemma's Configurations over Time
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
5. Capital Market Imperfections and the Theory of Optimum Currency Areas
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
6. Current Account Patterns and National Real Estate Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
7. Fiscal Storms: Inflation Targeting and Real Exchange Rates in Emerging Markets
   Working Papers, University of Hawaii at Manoa, Department of Economics
8. Globalization and the Sustainability of Large Current Account Imbalances: Size Matters
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
9. Inflation Targeting and Real Exchange Rates in Emerging Markets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations
10. Sovereign Wealth Funds: Stylized Facts about their Determinants and Governance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2008)
11. Sterilization, Monetary Policy, and Global Financial Integration
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2008) View citations
12. The Internationalization of Venture Capital and Private Equity
    NBER Working Papers, National Bureau of Economic Research, Inc
13. The Life Cycle of Scholars and Papers in Economics -- the "Citation Death Tax"
    NBER Working Papers, National Bureau of Economic Research, Inc
14. The Real Exchange Rate, Mercantilism and the Learning by Doing Externality
    NBER Working Papers, National Bureau of Economic Research, Inc
15. The US as the "Demander of Last Resort" and its Implications on China's Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc

2007

16. Aid Volatility and Poverty Traps
    NBER Working Papers, National Bureau of Economic Research, Inc
17. Economic Growth with Constraints on Tax Revenues and Public Debt: Implications for Fiscal Policy and Cross-Country Differences
    NBER Working Papers, National Bureau of Economic Research, Inc
18. International Reserves Management and the Current Account
    Working Papers Central Bank of Chile, Central Bank of Chile View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations
19. Large Hoarding of International Reserves and the Emerging Global Economic Architecture
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Manchester School (2008)
20. Prizes for Basic Research -- Human Capital, Economic Might and the Shadow of History
    Working Papers, University of Hawaii at Manoa, Department of Economics
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006)
    See also Journal Article in Journal of Economic Growth (2007)
21. Takeoffs
    Working Paper Series, Federal Reserve Bank of San Francisco
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007)

2006

22. Financial Versus Monetary Mercantilism-Long-run View of Large International Reserves Hoarding
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in The World Economy (2008)
23. Financial Versus Monetary Mercantilism: Long-Run View of the Large International Reserves Hoarding
    IMF Working Papers, International Monetary Fund View citations
24. Globalization and Developing Countries - A Shrinking Tax Base?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in The Journal of Development Studies (2009)
25. Real Exchange Rate and International Reserves in the Era of Growing Financial and Trade Integration
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
26. Signaling Credibility --- Choosing Optimal Debt and International Reserves
    NBER Working Papers, National Bureau of Economic Research, Inc

2005

27. Ex Ante Carrots instead of Ex Post Sticks: Two Examples
    NBER Working Papers, National Bureau of Economic Research, Inc
28. FDI and Trade - Two Way Linkages?
    Economics Study Area Working Papers, East-West Center, Economics Study Area View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations
    Working Papers, University of Hawaii at Manoa, Department of Economics (2005)
    See also Journal Article in The Quarterly Review of Economics and Finance (2006)
29. Financial Liberalization in Latin-America in the 1990s: A Reassessment
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in The World Economy (2005)
30. Globalization and Taste Convergence: The Case of Wine and Beer
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Review of International Economics (2008)
31. International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Open Economies Review (2007)
32. International Reserves: Precautionary vs. Mercantilist Views, Theory, and Evidence
    IMF Working Papers, International Monetary Fund View citations
33. Pegged Exchange Rate Regimes -- A Trap?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Paper Series, Federal Reserve Bank of San Francisco (2005) View citations
    See also Journal Article in Journal of Money, Credit and Banking (2008)
34. The Collection Efficiency of the Value Added Tax: Theory and International Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of International Trade & Economic Development (2008)

2004

35. Endogenous Financial and Trade Openness
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Review of Development Economics (2009)
36. Endogenous Financial and Trade Openness: Efficiency and Political Economy Considerations
    Working Papers, University of Hawaii at Manoa, Department of Economics View citations
37. Endogenous Financial and Trade Openness: Political Economy Considerations
    Economics Study Area Working Papers, East-West Center, Economics Study Area View citations
38. International Reserves Management and Capital Mobility in a Volatile World: Policy Considerations and a Case Study of Korea
    Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz View citations
    Also in Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz (2004) View citations
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations
    See also Journal Article in Journal of the Japanese and International Economies (2007)
39. Managing Volatility and Crises: A Practitioner's Guide Overview
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
40. Sources for Financing Domestic Capital - is Foreign Saving a Viable Option for Developing Countries?
    Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz View citations
    Also in Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz (2004) View citations
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations
    See also Journal Article in Journal of International Money and Finance (2007)

2003

41. Endogenous Financial Openness: Efficiency and Political Economy Considerations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
42. Institutional efficiency, monitoring costs, and the investment share of FDI
    Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations
    See also Journal Article in Review of International Economics (2006)
43. International Reserve Holdings with Sovereign Risk and Costly Tax Collection
    Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations
    See also Journal Article in Economic Journal (2004)
44. Military Expenditure, Threats, and Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (2003) View citations
    Santa Cruz Center for International Economics, Working Paper Series, Center for International Economics, UC Santa Cruz (2003) View citations
    See also Journal Article in Journal of International Trade & Economic Development (2006)
45. On the Hidden Links Between Financial and Trade Opening
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of International Money and Finance (2008)
46. Reforming the global financial system
    Center for Global, International and Regional Studies, Working Paper Series, Center for Global, International and Regional Studies, UC Santa Cruz

2002

47. Financial Opening: Evidence and Policy Options
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Chapter (2004)
48. Financial sector inefficiencies and the debt Laffer curve
    Policy Research Working Paper Series, The World Bank
    See also Journal Article in International Journal of Finance & Economics (2005)
49. Sargent-Wallace Meets Krugman-Flood-Garber, or: Why Sovereign Debt Swaps Don't Avert Macroeconomic Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Economic Journal (2005)
50. The High Demand for International Reserves in the Far East: What's Going On?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Pacific Basin Working Paper Series, Federal Reserve Bank of San Francisco (2002) View citations
    See also Journal Article in Journal of the Japanese and International Economies (2003)
51. Volatility, employment and the patterns of FDI in emerging markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Development Economics (2003)

2001

52. The Merits of Horizontal versus Vertical FDI in the Presence of Uncertainty
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of International Economics (2004)

2000

53. Endogenous Pricing to Market and Financing Costs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Monetary Economics (2004)
54. Exchange Rate Regimes and Financial-Market Imperfections
    NBER Working Papers, National Bureau of Economic Research, Inc
55. Savings and the Terms of Trade Under Borrowing Constraints
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Policy Research Working Paper Series, The World Bank (2000) View citations
    See also Journal Article in Journal of International Economics (2004)
56. The Credit Crunch in East Asia: What can Bank Excess Liquid Assets Tell us?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Policy Research Working Paper Series, The World Bank (2000) View citations
    See also Journal Article in Journal of International Money and Finance (2004)

1999

57. Capital Controls and Financial Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
58. Contagion, bank lending spreads, and output fluctuations
    Policy Research Working Paper Series, The World Bank View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations
59. Financial Sector Inefficiencies and Coordinate Failures: Implications for Crisis Management
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
60. Financial sector inefficiencies and coordination failures: implications for crisis management
    Policy Research Working Paper Series, The World Bank View citations
61. Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors?
    Working Papers, University of Washington, Department of Economics View citations
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) View citations
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations
    See also Journal Article in Economic Journal (2002)
62. Reserve Uncertainty and the Supply of International Credit
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Money, Credit and Banking (2002)
63. Uncertainty and the Disapperance of International Credit
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Proceedings (1999)

1998

64. Capital Mobility in a Second Best World -- Moral Hazard With Costly Financial Intermediation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Review of International Economics (2003)
65. Privatization in Emerging Markets
    NBER Working Papers, National Bureau of Economic Research, Inc
66. Volatility and the Welfare Costs of Financial Market Integration
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in Policy Research Working Paper Series, The World Bank (1998) View citations

1997

67. Contagion and Volatility with Imperfect Credit Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in IMF Working Papers, International Monetary Fund (1997) View citations
68. Controlled Openness and Foreign Direct Investment
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Review of Development Economics (1998)
69. International Portfolio Diversification with Generalized Expected Utility Preferences
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Canadian Journal of Economics (1999)
70. Volatility and Financial Intermediation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of International Money and Finance (2003)

1996

71. New Activities, the Welfare Cost of Uncertainty and Investment Policies
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in International Journal of Finance & Economics (1998)
72. Optimal Tax and Debt Policy with Endogenously Imperfect Creditworthiness
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of International Trade & Economic Development (2000)
73. Volatility and the Investment Response
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
74. Wage Dispersion and Technical Progress
    NBER Working Papers, National Bureau of Economic Research, Inc

1995

75. Capital Markets Integration, Volatility and Persistence
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Macroeconomics (1997)
76. Investment in New Activities and the Welfare Cost of Uncertainty
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Development Economics (1997)
77. Optimal Buffer Stocks and Precautionary Savings with Disappointment Aversion
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
78. The Impact of Inflation on Budgetary Discipline
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Development Economics (2000)
79. Trade Liberalization and Unemployment
    IMF Working Papers, International Monetary Fund View citations
80. Volatility, Investment and Disappointment Aversion
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1994

81. Foreign Direct Investment, Employment Volatility and Cyclical Dumping
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in International Journal of Finance & Economics (1996)
82. Macroeconomic Adjustment with Segmented Labor Markets
    IMF Working Papers, International Monetary Fund View citations
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations
    See also Journal Article in Journal of Development Economics (1999)
83. On The Need For Fiscal Discipline in an Union
    NBER Working Papers, National Bureau of Economic Research, Inc
84. Technological Change, Relative Wages, and Unemployment
    IMF Working Papers, International Monetary Fund View citations
    See also Journal Article in European Economic Review (1997)
85. Why is Inflation Skewed? A Debt and Volatility Story
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1993

86. Exchange Rate Flexibility, Volatility, and the Patterns of Domestic and Foreign Direct Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    Also in IMF Working Papers, International Monetary Fund (1992) View citations
87. Political Feasibility and Investment in Economic Transformations
    IMF Working Papers, International Monetary Fund
88. Resource Allocation During the Transition to a Market Economy: Policy Implications of Supply Bottlenecks and Adjustment Costs
    IMF Working Papers, International Monetary Fund
89. Resource Allocation During the Transition to a Market Economy: Political Implications of Supply Bottlenecks and Adjustment Costs
    NBER Working Papers, National Bureau of Economic Research, Inc

1992

90. A Theory of Optimum Currency Areas: Revisited
    IMF Working Papers, International Monetary Fund View citations
91. Foreign Direct Investment as a Commitment Mechanism in the Presence of Managed Trade
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in International Economic Journal (1996)
92. The Competitive Externalities and the Optimal Seignorage
    NBER Working Papers, National Bureau of Economic Research, Inc View citations

1991

93. External Debt, Planning Horizon and Distorted Credit Markets
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of International Money and Finance (1990)
94. Externalities, Incentives and Failure to Achieve National Objectives in Decentralized Economies
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Development Economics (1993)
95. Foreign Direct Investment, Productive Capacity and Exchange Rate Regimes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
96. Inward Versus Outward Growth Orientation in the Presence of Country Risk
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Economica (1991)
97. Policy Uncertainty, Persistence and Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Review of International Economics (1993)
98. Trade Dependency, Bargaining and External Debt
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of International Economics (1991)
99. Trade Reforms, Credibility, and Development
    NBER Working Papers, National Bureau of Economic Research, Inc View citations
    See also Journal Article in Journal of Development Economics (1992)

1990

100. Capital Controls, Collection Costs, and Domestic Public Debt
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Journal of International Money and Finance (1994)
101. Externalities, Incentives, and Economic Reforms
     NBER Working Papers, National Bureau of Economic Research, Inc
102. Investment, Openness, and Country Risk
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
103. Market Power and Exchange Rate Adjustment in the Presence of Quotas
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Journal of International Economics (1989)
104. Soft Budget Constraints, Taxes, and the Incentive to Cooperate
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in International Economic Review (1993)

1989

105. Country Risk and Contingencies
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in International Economic Journal (1989)
106. Country Risk, Asymmetric Information and Domestic Policies
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
107. Debt and Conditionality under Endogenous Terms of Trade Adjustment
     NBER Working Papers, National Bureau of Economic Research, Inc
108. Labor Markets and the Choice of Technology in an Open Developing Economy
     NBER Working Papers, National Bureau of Economic Research, Inc
109. Monopolistic Competition and Labor Market Adjustment in the Open Economy
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Chapter (1988)
110. Monopolistic Competition, Relative Prices and Output Adjustment in the Open Economy
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in Journal of International Money and Finance (1989)
111. Sectorial Wages and the Real Exchange Rate
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Journal of International Economics (1988)
112. Strategic Investment in a Debt Bargaining Framework
     NBER Working Papers, National Bureau of Economic Research, Inc
113. World Integration, Competitive and Bargaining Regimes Switch: an Exploration
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Canadian Journal of Economics (1994)

1988

114. Inflation, Tariffs and Tax Enforcement Costs
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
115. Successful Adjustment in a Multi-Sectoral Economy
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in International Economic Journal (1988)

1987

116. Costly Adjustment and Limited Borrowing: A Welfare Analysis of Policiesto Achieve External Balance
     NBER Working Papers, National Bureau of Economic Research, Inc

1986

117. Country Risk and Incentives Schemes
     NBER Working Papers, National Bureau of Economic Research, Inc
118. On the Complementarity of Commercial Policy, Capital Controls and Inflation Tax
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in Canadian Journal of Economics (1986)
119. Stabilization Policies and the Information Content of Real Wages
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Economica (1986)
120. Supply Shocks, Wage Indexation and Monetary Accommodation
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in Journal of Money, Credit and Banking (1986)
121. Targeting Rules for Monetary Policy
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in Economics Letters (1986)
122. Tariff Liberalization Policy and Financial Restrictions
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Journal of International Economics (1985)
123. Testing Deviations From Purchasing Power Parity (PPP)
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
124. Wage Flexibility and Openness
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in The Quarterly Journal of Economics (1985)

1985

125. Adjustment to Monetary Policy and Devaluation Under Two-Tier and Fixed Exchange Rate Regimes
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in Journal of Development Economics (1985)
126. Monopolistic Competition and Deviations from PPP
     NBER Working Papers, National Bureau of Economic Research, Inc
127. Openness, Relative Prices and Macro Policies
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in Journal of International Money and Finance (1985)
128. Optimal Wage Indexation, Foreign-Exchange Intervention and Monetary Policy
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in American Economic Review (1985)

1984

129. A Theory of Current Account and Exchange Rate Determinations
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in European Economic Review (1983)
130. Modeling Deviations from Purchasing Power Parity (PPP)
     NBER Working Papers, National Bureau of Economic Research, Inc
     See also Journal Article in International Economic Review (1984)
131. Optimal Price Adjustment with Time-Dependent Costs
     NBER Working Papers, National Bureau of Economic Research, Inc
132. Optimal Wage Re-Negotiation
     NBER Working Papers, National Bureau of Economic Research, Inc

1983

133. Aspects of the Optimal Management of Exchange Rates
     NBER Working Papers, National Bureau of Economic Research, Inc View citations
     See also Journal Article in Journal of International Economics (1982)
134. Wage Contracts with Incomplete and Costly Information
     NBER Working Papers, National Bureau of Economic Research, Inc View citations

Journal Articles

2009

1. Endogenous Financial and Trade Openness
   Review of Development Economics, 2009, 13, (2), 175-189 View citations
   See also Working Paper (2004)
2. Globalisation and Developing Countries - a Shrinking Tax Base?
   The Journal of Development Studies, 2009, 45, (5), 653-671
   See also Working Paper (2006)
3. THE USA AS THE 'DEMANDER OF LAST RESORT' AND THE IMPLICATIONS FOR CHINA'S CURRENT ACCOUNT
   Pacific Economic Review, 2009, 14, (3), 426-442

2008

4. External Shocks, Bank Lending Spreads, and Output Fluctuations
   Review of International Economics, 2008, 16, (1), 1-20
5. Financial versus Monetary Mercantilism: Long-run View of Large International Reserves Hoarding
   The World Economy, 2008, 31, (5), 593-611
   See also Working Paper (2006)
6. Globalization and Taste Convergence: the Cases of Wine and Beer
   Review of International Economics, 2008, 16, (2), 217-233
   See also Working Paper (2005)
7. LARGE HOARDING OF INTERNATIONAL RESERVES AND THE EMERGING GLOBAL ECONOMIC ARCHITECTURE
   Manchester School, 2008, 76, (5), 487-503 View citations
   See also Working Paper (2007)
8. On the hidden links between financial and trade opening
   Journal of International Money and Finance, 2008, 27, (3), 372-386 View citations
   See also Working Paper (2003)
9. Pegged Exchange Rate Regimes-A Trap?
   Journal of Money, Credit and Banking, 2008, 40, (4), 817-835 View citations
   See also Working Paper (2005)
10. Real Exchange Rate and International Reserves in an Era of Growing Financial and Trade Integration
    The Review of Economics and Statistics, 2008, 90, (4), 812-815 View citations
11. The collection efficiency of the Value Added Tax: Theory and international evidence
    Journal of International Trade & Economic Development, 2008, 17, (3), 391-410
    See also Working Paper (2005)

2007

12. International Reserves: Precautionary Versus Mercantilist Views, Theory and Evidence
    Open Economies Review, 2007, 18, (2), 191-214 View citations
    Also in Proceedings, 2005 (2005) View citations
    See also Working Paper (2005)
13. International reserves management and capital mobility in a volatile world: Policy considerations and a case study of Korea
    Journal of the Japanese and International Economies, 2007, 21, (1), 1-15 View citations
    See also Working Paper (2004)
14. Overview of conference volume "Financial and Commercial Integrations"
    Journal of International Money and Finance, 2007, 26, (5), 657-662
15. Prizes for basic research: Human capital, economic might and the shadow of history
    Journal of Economic Growth, 2007, 12, (3), 261-282 View citations
    See also Working Paper (2007)
16. Sources for financing domestic capital - Is foreign saving a viable option for developing countries?
    Journal of International Money and Finance, 2007, 26, (5), 682-702 View citations
    See also Working Paper (2004)
17. Sovereign wealth funds: stumbling blocks or stepping stones to financial globalization?
    FRBSF Economic Letter, 2007, (Dec 14) View citations

2006

18. FDI and trade--Two-way linkages?
    The Quarterly Review of Economics and Finance, 2006, 46, (3), 317-337 View citations
    See also Working Paper (2005)
19. Institutional Efficiency, Monitoring Costs and the Investment Share of FDI
    Review of International Economics, 2006, 14, (4), 683-697
    See also Working Paper (2003)
20. Investment and deposit contracts under costly intermediation and aggregate volatility
    International Review of Economics & Finance, 2006, 15, (3), 263-275 View citations
21. Military expenditure, threats, and growth
    Journal of International Trade & Economic Development, 2006, 15, (2), 129-155 View citations
    See also Working Paper (2003)

2005

22. Financial Liberalisations in Latin America in the 1990s: A Reassessment
    The World Economy, 2005, 28, (7), 959-983 View citations
    See also Working Paper (2005)
23. Financial liberalization: how well has it worked for developing countries?
    FRBSF Economic Letter, 2005, (Apr 8)
24. Financial sector inefficiencies and the debt Laffer curve
    International Journal of Finance & Economics, 2005, 10, (1), 1-13 View citations
    See also Working Paper (2002)
25. Opposition to FDI and financial shocks
    Journal of Development Economics, 2005, 77, (2), 467-476
26. Sargent-Wallace meets Krugman-Flood-Garber, or: why sovereign debt swaps do not avert macroeconomic crises
    Economic Journal, 2005, 115, (503), 343-367 View citations
    See also Working Paper (2002)

2004

27. Endogenous pricing to market and financing costs
    Journal of Monetary Economics, 2004, 51, (4), 691-712 View citations
    See also Working Paper (2000)
28. Financial Opening and Development: Evidence and Policy Controversies
    American Economic Review, 2004, 94, (2), 65-70 View citations
29. International Reserve Holdings with Sovereign Risk and Costly Tax Collection
    Economic Journal, 2004, 114, (497), 569-591 View citations
    See also Working Paper (2003)
30. Savings and the terms of trade under borrowing constraints
    Journal of International Economics, 2004, 63, (2), 321-340 View citations
    See also Working Paper (2000)
31. The credit crunch in East Asia: what can bank excess liquid assets tell us?
    Journal of International Money and Finance, 2004, 23, (1), 27-49 View citations
    See also Working Paper (2000)
32. The merits of horizontal versus vertical FDI in the presence of uncertainty
    Journal of International Economics, 2004, 62, (1), 125-148 View citations
    See also Working Paper (2001)

2003

33. Capital Mobility In A Second--Best World: Moral Hazard With Costly Financial Intermediation
    Review of International Economics, 2003, 11, (1), 1-17
    See also Working Paper (1998)
34. Foreign exchange reserves in East Asia: why the high demand?
    FRBSF Economic Letter, 2003, (Apr 25) View citations
35. Overview of conference volume "Regional and International Implications of the Financial Instability in Latin America"
    Journal of International Money and Finance, 2003, 22, (7), 887-893
36. The high demand for international reserves in the Far East: What is going on?
    Journal of the Japanese and International Economies, 2003, 17, (3), 370-400 View citations
    Also in Proceedings, 2002, (Sep) (2002) View citations
    See also Working Paper (2002)
37. Volatility and financial intermediation
    Journal of International Money and Finance, 2003, 22, (5), 657-679 View citations
    See also Working Paper (1997)
38. Volatility, employment and the patterns of FDI in emerging markets
    Journal of Development Economics, 2003, 72, (2), 585-601 View citations
    See also Working Paper (2002)

2002

39. Reserve Requirements on Sovereign Debt in the Presence of Moral Hazard -- on Debtors or Creditors?
    Economic Journal, 2002, 112, (476), 107-132 View citations
    See also Working Paper (1999)
40. Reserve Uncertainty and the Supply of International Credit
    Journal of Money, Credit and Banking, 2002, 34, (3), 631-49 View citations
    See also Working Paper (1999)

2001

41. Real Exchange Rate Overshooting and Capital Controls in a Crisis
    The Japanese Economic Review, 2001, 52, (4), 417-428

2000

42. Optimal tax and debt policy with endogenously imperfect creditworthiness
    Journal of International Trade & Economic Development, 2000, 9, (4), 367-395 View citations
    See also Working Paper (1996)
43. The impact of inflation on budgetary discipline
    Journal of Development Economics, 2000, 63, (2), 425-449
    See also Working Paper (1995)

1999

44. International Portfolio Diversification with Generalized Expected Utility Preferences
    Canadian Journal of Economics, 1999, 32, (4), 995-1008 View citations
    See also Working Paper (1997)
45. Macroeconomic adjustment with segmented labor markets
    Journal of Development Economics, 1999, 58, (2), 277-296 View citations
    See also Working Paper (1994)
46. Uncertainty and the disappearance of international credit
    Proceedings, 1999, (Sep) View citations
    See also Working Paper (1999)
47. Volatility and Investment: Interpreting Evidence from Developing Countries
    Economica, 1999, 66, (262), 157-79 View citations

1998

48. Buffer stocks and precautionary savings with loss aversion
    Journal of International Money and Finance, 1998, 17, (6), 931-947 View citations
49. Controlled Openness and Foreign Direct Investment
    Review of Development Economics, 1998, 2, (1), 1-10 View citations
    See also Working Paper (1997)
50. New Activities, the Welfare Cost of Uncertainty and Investment Policies
    International Journal of Finance & Economics, 1998, 3, (2), 97-110 View citations
    See also Working Paper (1996)
51. The political economy of public savings and the role of capital mobility
    Journal of Development Economics, 1998, 57, (1), 67-95 View citations

1997

52. Capital Markets Integration, Volatility, and Persistence
    Journal of Macroeconomics, 1997, 19, (2), 217-236
    See also Working Paper (1995)
53. Investment in new activities and the welfare cost of uncertainty
    Journal of Development Economics, 1997, 52, (2), 259-277 View citations
    See also Working Paper (1995)
54. Technological change, relative wages, and unemployment
    European Economic Review, 1997, 41, (2), 187-205 View citations
    See also Working Paper (1994)

1996

55. FOREIGN DIRECT INVESTMENT AS A COMMITMENT MECHANISM IN THE PRESENCE OF MANAGED TRADE
    International Economic Journal, 1996, 10, (4), 1-28 View citations
    See also Working Paper (1992)
56. Foreign Direct Investment, Employment Volatility and Cyclical Dumping
    International Journal of Finance & Economics, 1996, 1, (2), 117-31
    See also Working Paper (1994)
57. Production bottlenecks and congestion externalities during the transition to a market economy
    International Review of Economics & Finance, 1996, 5, (3), 225-241

1994

58. Capital controls, collection costs and domestic public debt
    Journal of International Money and Finance, 1994, 13, (1), 41-54 View citations
    See also Working Paper (1990)
59. Monetary and Real Shocks, Productive Capacity and Exchange Rate Regimes
    Economica, 1994, 61, (244), 407-34 View citations
60. World Integration, Competitive and Bargaining-Regime Switch: An Exploration
    Canadian Journal of Economics, 1994, 27, (2), 458-83
    See also Working Paper (1989)

1993

61. Externalities, incentives, and failure to achieve national objectives in decentralized economies
    Journal of Development Economics, 1993, 41, (1), 95-114 View citations
    See also Working Paper (1991)
62. Future Policy Uncertainty, Effort, and the Responsiveness of Output to Market Signals
    Bulletin of Economic Research, 1993, 45, (4), 305-13
63. Macroeconomic uncertainty and private investment
    Economics Letters, 1993, 41, (2), 207-210 View citations
64. Policy Uncertainty, Persistence and Growth
    Review of International Economics, 1993, 1, (2), 145-63 View citations
    See also Working Paper (1991)
65. Soft Budget Constraints, Taxes, and the Incentive to Cooperate
    International Economic Review, 1993, 34, (4), 819-32 View citations
    See also Working Paper (1990)

1992

66. Competitive Externalities and the Optimal Seigniorage
    Journal of Money, Credit and Banking, 1992, 24, (1), 61-71 View citations
67. Trade reforms, credibility, and development
    Journal of Development Economics, 1992, 39, (1), 163-187 View citations
    See also Working Paper (1991)

1991

68. COSTLY ADJUSTMENT AND LIMITED BORROWING
    International Economic Journal, 1991, 5, (2), 17-38
69. Inward versus Outward Growth Orientation in the Presence of Country Risk
    Economica, 1991, 58, (229), 57-77
    See also Working Paper (1991)
70. Trade dependency, bargaining and external debt
    Journal of International Economics, 1991, 31, (1-2), 101-120
    See also Working Paper (1991)

1990

71. External debt, planning horizon, and distorted credit markets
    Journal of International Money and Finance, 1990, 9, (2), 138-158
    See also Working Paper (1991)

1989

72. COUNTRY RISK AND CONTINGENCIES
    International Economic Journal, 1989, 3, (1), 81-108 View citations
    See also Working Paper (1989)
73. Country Risk, Incomplete Information and Taxes on International Borrowing
    Economic Journal, 1989, 99, (394), 147-61 View citations
74. Market power and exchange rate adjustment in the presence of quotas
    Journal of International Economics, 1989, 27, (3-4), 265-282 View citations
    See also Working Paper (1990)
75. Monopolistic competition, relative prices, and output adjustment in the open economy
    Journal of International Money and Finance, 1989, 8, (1), 5-28 View citations
    See also Working Paper (1989)

1988

76. SUCCESSFUL ADJUSTMENT IN A MULTI-SECTORIAL ECONOMY
    International Economic Journal, 1988, 2, (1), 85-99
    See also Working Paper (1988)
77. Sectorial wages and the real exchange rate
    Journal of International Economics, 1988, 24, (1-2), 69-91 View citations
    See also Working Paper (1989)

1986

78. On the Complementarity of Commercial Policy, Capital Controls, and Inflation Tax
    Canadian Journal of Economics, 1986, 19, (1), 114-33 View citations
    See also Working Paper (1986)
79. Stabilization Policies and the Information Content of Real Wages
    Economica, 1986, 53, (210), 181-90
    See also Working Paper (1986)
80. Supply Shocks, Wage Indexation and Monetary Accommodation
    Journal of Money, Credit and Banking, 1986, 18, (3), 304-22 View citations
    See also Working Paper (1986)
81. Targeting rules for monetary policy
    Economics Letters, 1986, 21, (2), 183-187 View citations
    See also Working Paper (1986)
82. Testing deviations from purchasing power parity
    Journal of International Money and Finance, 1986, 5, (1), 25-35

1985

83. Adjustment to monetary policy and devaluation under two-tier and fixed exchange rate regimes
    Journal of Development Economics, 1985, 18, (1), 153-169 View citations
    See also Working Paper (1985)
84. Openness, relative prices, and macro-policies
    Journal of International Money and Finance, 1985, 4, (1), 5-17
    See also Working Paper (1985)
85. Optimal Wage Indexation, Foreign Exchange Intervention, and Monetary Policy
    American Economic Review, 1985, 75, (3), 402-23 View citations
    See also Working Paper (1985)
86. Tariff liberalization policy and financial restrictions
    Journal of International Economics, 1985, 19, (3-4), 241-255 View citations
    See also Working Paper (1986)
87. Wage Flexibility and Openness
    The Quarterly Journal of Economics, 1985, 100, (2), 539-50 View citations
    See also Working Paper (1986)

1984

88. Modeling Deviations from Purchasing Power Parity (PPP)
    International Economic Review, 1984, 25, (1), 175-91 View citations
    See also Working Paper (1984)
89. Optimal wage re-negotiation in a closed and open economy
    Journal of Monetary Economics, 1984, 13, (2), 251-262 View citations

1983

90. A theory of current account and exchange rate determinations
    European Economic Review, 1983, 23, (3), 261-280 View citations
    See also Working Paper (1984)
91. Dynamics of trade liberalization policy
    Journal of Development Economics, 1983, 13, (1-2), 133-142 View citations
92. Government Size, Optimal Inflation Tax, and Tax Collection Costs
    Eastern Economic Journal, 1983, 9, (2), 103-105

1982

93. Aspects of the optimal management of exchange rates
    Journal of International Economics, 1982, 13, (3-4), 231-256 View citations
    See also Working Paper (1983)

1981

94. Devaluation and liberalization in the presence of tariff and quota restrictions: An equilibrium model
    Journal of International Economics, 1981, 11, (2), 197-206
95. The use of the balance of payments as a shock absorber in fixed rate and managed float systems
    Journal of International Economics, 1981, 11, (4), 479-486 View citations

Chapters

2008

1. Links between Trade and Finance: A Disaggregated Analysis
   A chapter in Financial Markets Volatility and Performance in Emerging Markets, 2008, pp 9-28

2004

2. Financial Opening: Evidence and Policy Options
   A chapter in Challenges to Globalization: Analyzing the Economics, 2004, pp 473-498 View citations
   See also Working Paper (2002)

1988

3. Monopolistic Competition and Labor Market Adjustment in the Open Economy
   A chapter in Misalignment of Exchange Rates, 1988, pp 169-194
   See also Working Paper (1989)

1986

4. Wage Indexation, Supply Shocks, and Monetary Policy in a Small, Open Economy
   A chapter in Economic Adjustment and Exchange Rates in Developing Countries, 1986, pp 89-142 View citations