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Details about Charles Engel

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Workplace:Economics Department, University of Wisconsin-Madison, (more information at EDIRC)

Access statistics for papers by Charles Engel.

Last updated 2014-08-25. Update your information in the RePEc Author Service.

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Working Papers

2014

  1. Real Exchange Rates and Sectoral Productivity in the Eurozone
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2013

  1. Exchange Rates and Interest Parity
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)

2012

  1. Factor Model Forecasts of Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)

2011

  1. The Real Exchange Rate, Real Interest Rates, and the Risk Premium
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
    Also in Economics Series, Institute for Advanced Studies (2011) Downloads View citations (2)
    Working Papers, Hong Kong Institute for Monetary Research (2011) Downloads View citations (3)

2009

  1. Can long-horizon forecasts beat the random walk under the Engel-West explanation?
    Globalization and Monetary Policy Institute Working Paper, Federal Reserve Bank of Dallas Downloads View citations (2)
  2. Currency Misalignments and Optimal Monetary Policy: A Re-examination
    RBA Research Discussion Papers, Reserve Bank of Australia Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) Downloads View citations (9)

    See also Journal Article in American Economic Review (2011)
  3. International Risk Sharing
    IMF Working Papers, International Monetary Fund Downloads View citations (7)
  4. The International Diversification Puzzle when Goods Prices Are Sticky
    IMF Working Papers, International Monetary Fund Downloads View citations (27)

2008

  1. Can Long Horizon Data Beat Random Walk under Engel-West Explanation?
    2008 Meeting Papers, Society for Economic Dynamics
  2. Expected consumption growth from cross-country surveys: implications for assessing international capital markets
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
    See also Journal Article in IMF Staff Papers (2009)
  3. International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
    Also in 2008 Meeting Papers, Society for Economic Dynamics (2008) Downloads View citations (5)

    See also Journal Article in Journal of International Economics (2011)

2007

  1. Exchange Rate Models Are Not as Bad as You Think
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (77)
    See also Chapter (2008)
  2. Expectations and Exchange Rate Policy
    Working Papers, Hong Kong Institute for Monetary Research Downloads View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) Downloads View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) Downloads View citations (3)
  3. International trade in durable goods: understanding volatility, cyclicality, and elastics
    Globalization and Monetary Policy Institute Working Paper, Federal Reserve Bank of Dallas Downloads View citations (4)

2006

  1. Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2005) Downloads View citations (4)
    Working Paper Series, European Central Bank (2006) Downloads View citations (3)
  2. Portfolio Choice in a Monetary Open-Economy DSGE Model
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (64)
    Also in IMF Working Papers, International Monetary Fund (2005) Downloads View citations (34)
  3. The U.S. Current Account Deficit and the Expected Share of World Output
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (26)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2006) Downloads View citations (24)
    Working Paper Series, Federal Reserve Bank of San Francisco (2006) Downloads View citations (25)

    See also Journal Article in Journal of Monetary Economics (2006)

2005

  1. Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (9)
    See also Journal Article in Journal of the European Economic Association (2006)
  2. The US Current Account Deficit: A Re-examination of the Role of Private Saving
    RBA Research Discussion Papers, Reserve Bank of Australia Downloads View citations (1)

2004

  1. Accounting for Exchange Rate Variability in Present-Value Models When the Discount Factor is Near One
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
  2. Does "Aggregation Bias" Explain the PPP Puzzle?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (16)
    See also Journal Article in Pacific Economic Review (2005)
  3. Exchange Rates and Fundamentals
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    Also in Working Paper Series, European Central Bank (2003) Downloads View citations (13)

    See also Journal Article in Journal of Political Economy (2005)
  4. On the Relationship between Pass-Through and Sticky Nominal Prices
    Working Papers, Hong Kong Institute for Monetary Research Downloads View citations (7)
  5. Some New Variance Bounds for Asset Prices
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Journal Article in Journal of Money, Credit and Banking (2005)
  6. Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article in Journal of Money, Credit and Banking (2006)

2003

  1. Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (34)
    Also in IEHAS Discussion Papers, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences (2003) Downloads View citations (10)
    Working Papers, Hong Kong Institute for Monetary Research (2002) Downloads View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) Downloads View citations (7)

    See also Journal Article in Journal of International Economics (2004)
  2. Exchange Rate Pass-Through, Exchange Rate Volatility, and ExchangeRate Disconnect
    DNB Staff Reports (discontinued), Netherlands Central Bank Downloads
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) Downloads View citations (135)

    See also Journal Article in Journal of Monetary Economics (2002)
  3. Revisiting the Border: an assessment of the law of one price using very disaggregated consumer price data
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (22)

2002

  1. Expenditure Switching and Exchange Rate Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (60)
    See also Chapter (2003)
  2. The Responsiveness of Consumer Prices to Exchange Rates And the Implications for Exchange-Rate Policy: A Survey Of a Few Recent New Open-Economy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (45)

2001

  1. Currency Unions and International Integration
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (10)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) Downloads View citations (45)

    See also Journal Article in Journal of Money, Credit and Banking (2002)
  2. Endogenous Currency of Price Setting in a Dynamic Open Economy Model
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (79)
  3. The Adjustment of Prices and the Adjustment of the Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (35)
    Also in Working Papers, University of Washington, Department of Economics (2000) Downloads View citations (7)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) Downloads View citations (1)

2000

  1. Comments on Obstfeld and Rogoff's "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?"
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (12)
  2. Deviations from purchasing power parity: causes and welfare costs
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (2)
    Also in Working Papers, University of Washington, Department of Economics (1999) Downloads View citations (4)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) Downloads View citations (12)

    See also Journal Article in Journal of International Economics (2001)
  3. Monetary Policy In The Open Economy Revisited: Price Setting Rules And Exchange Rate Flexibility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers Downloads View citations (57)
  4. Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibiity
    Working Papers, University of Washington, Department of Economics Downloads View citations (2)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) Downloads View citations (2)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) Downloads View citations (120)
    Working Papers, Hong Kong Institute for Monetary Research (2000) Downloads View citations (80)

    See also Journal Article in Review of Economic Studies (2003)
  5. Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) Downloads View citations (1)
    Working Papers, University of Washington, Department of Economics (2000) Downloads

    See also Journal Article in Journal of Money, Credit and Banking (2001)
  6. The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington Downloads View citations (12)
    Also in Working Papers, University of Washington, Department of Economics (2000) Downloads View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) Downloads View citations (14)

    See also Chapter (2001)
  7. Violating the Law of One Price: Should We Make a Federal Case Out of It?
    Working Papers, University of Washington, Department of Economics Downloads View citations (4)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) Downloads View citations (5)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1999) Downloads View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) Downloads View citations (5)

    See also Journal Article in Journal of Money, Credit and Banking (2001)

1999

  1. Exchange Rate Pass-Through and the Welfare Effects of the Euro
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (26)
    Also in Working Papers, University of Washington, Department of Economics (1999) Downloads View citations (8)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) Downloads View citations (48)

    See also Journal Article in International Economic Review (2003)
  2. Local-Currency Pricing and the Choice of Exchange-Rate Regime
    Working Papers, University of Washington, Department of Economics Downloads
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) Downloads View citations (3)

    See also Journal Article in European Economic Review (2000)
  3. On the Foreign-Exchange Risk Premium in Sticky-Price General Equilibrium Models
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    See also Journal Article in International Tax and Public Finance (1999)

1998

  1. Fixed vs. Floating Exchange Rates: How Price Setting Affects the Optimal Choice of Exchange-Rate Regime
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (132)
  2. Long-Run PPP May Not Hold After All
    Working Papers, University of Washington, Department of Economics Downloads View citations (3)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (26)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1998) Downloads View citations (10)
    NBER Working Papers, National Bureau of Economic Research, Inc (1996) Downloads View citations (30)
    Working Papers, University of Washington, Department of Economics (1996) View citations (26)

    See also Journal Article in Journal of International Economics (2000)
  3. Relative Price Volatility: What Role Does the Border Play?
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington Downloads View citations (18)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1998) Downloads View citations (9)
    Working Papers, University of Washington, Department of Economics (1998) Downloads View citations (14)

1997

  1. Intra-National, Intra-Continental, and Intra-Planetary PPP
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (24)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1997) Downloads View citations (12)

1996

  1. A Model of Foreign Exchange Rate Indetermination
    Working Papers, University of Washington, Department of Economics View citations (5)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (7)
    NBER Working Papers, National Bureau of Economic Research, Inc (1996) Downloads View citations (7)
  2. Accounting for U.S. Real Exchange Rate Changes
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1995) Downloads View citations (15)
    Working Papers, University of Washington, Department of Economics (1996) View citations (64)

    See also Journal Article in Journal of Political Economy (1999)
  3. Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies
    Working Papers, University of Washington, Department of Economics View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1995) Downloads View citations (24)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1996) Downloads View citations (7)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (1)
  4. The Long-Run U.S./U.K. Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (12)
    Working Papers, University of Washington, Department of Economics (1996) View citations (2)

    See also Journal Article in Journal of Money, Credit and Banking (1999)

1995

  1. How Wide is the Border?
    Working Papers, Pennsylvania State - Department of Economics View citations (37)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1994) Downloads View citations (14)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1995) Downloads View citations (14)
    Research Working Paper, Federal Reserve Bank of Kansas City (1995) View citations (30)

    See also Journal Article in American Economic Review (1996)
  2. The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (361)
    See also Journal Article in Journal of Empirical Finance (1996)
  3. Why is the Foreward Exchange Rate Forecast Based? A Survey of Recent Evidence
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington View citations (1)
    Also in Working Papers, University of Washington, Department of Economics (1995) View citations (1)
    Research Working Paper, Federal Reserve Bank of Kansas City (1995) View citations (8)

1994

  1. Relative Returns on Equities in Pacific Basin Countries
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Proceedings (1992)
  2. The Distribution of Exchange Rates in the EMS
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (35)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1994) View citations (16)

    See also Journal Article in International Journal of Finance & Economics (1996)

1993

  1. Tests of CAPM on an International Portfolio of Bonds and Stocks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Chapter (1994)
  2. The Constrained Asset Share Estimation (CASE) Method: Testing Mean-Variance Efficiency of the U.S. Stock Market
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1990) Downloads
    Economics Working Papers, University of California at Berkeley (1990) View citations (1)

1992

  1. Can the Markov Switching Model Forecast Exchange Rates?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (121)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1991) View citations (4)

    See also Journal Article in Journal of International Economics (1994)
  2. Distribution of Rents and Growth
    Working Papers, Yale - Economic Growth Center View citations (3)
    Also in Working Papers, University of Washington, Department of Economics (1992) View citations (2)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1992) View citations (2)
  3. Real Exchange Rates and Relative Prices: An Empirical Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of Monetary Economics (1993)
  4. Tests of mean-variance efficiency of international equity markets
    Research Paper, Federal Reserve Bank of New York View citations (6)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1990)

    See also Journal Article in Oxford Economic Papers (1993)

1991

  1. Is real exchange rate variability caused by relative price changes? An empirical investigation
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (9)

1990

  1. On the foreign exchange risk premium in a general equilibrium model
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (8)
    See also Journal Article in Journal of International Economics (1992)
  2. The risk premium and the liquidity premium in foreign exchange markets
    Research Working Paper, Federal Reserve Bank of Kansas City
    See also Journal Article in International Economic Review (1992)

1989

  1. Conditional Mean-Variance Efficiency of the U.S. Stock Market
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    Also in Research Paper, Federal Reserve Bank of New York (1989) View citations (2)
  2. Long Swings in the Exchange Rate: Are they in the Data and Do Markets Know It?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (8)

1988

  1. A test of international CAPM
    Research Paper, Federal Reserve Bank of New York View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1986) Downloads
  2. TARIFFS AND SAVING IN A MODEL WITH NEW FAMILIES
    Working Papers, Yale - Economic Growth Center View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1988) Downloads

1987

  1. Saving and Investment in an Open Economy with Non-Traded Goods
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in International Economic Review (1989)
  2. Tests of International CAPM with Time-Varying Covariances
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in Journal of Applied Econometrics (1989)
  3. The Real Effects of Foreign Inflation in the Presence of Currency Substitution
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  4. Trade Policy under Endogenous Credibility
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    See also Journal Article in Journal of Development Economics (1991)

1986

  1. International Borrowing to Finance Investment
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  2. Tariffs, Saving and the Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)

1982

  1. Do Asset-Demand Functions Optimize over the Mean and Variance of Real Returns? A Six-Currency Test
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
    See also Journal Article in Journal of International Economics (1984)
  2. Why Money Announcements Move Interest Rates: An Answer from the Foreign Exchange Market
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article in Proceedings (1982)

Journal Articles

2014

  1. Exchange Rate Stabilization and Welfare
    Annual Review of Economics, 2014, 6, (1), 155-177 Downloads View citations (2)

2012

  1. Comment
    NBER Macroeconomics Annual, 2012, 26, (1), 310 - 314 Downloads
  2. Comment
    NBER International Seminar on Macroeconomics, 2012, 8, (1), 87 - 89 Downloads
  3. Real Exchange Rate Adjustment in and out of the Eurozone
    American Economic Review, 2012, 102, (3), 179-85 Downloads View citations (14)

2011

  1. Currency Misalignments and Optimal Monetary Policy: A Reexamination
    American Economic Review, 2011, 101, (6), 2796-2822 Downloads View citations (32)
    See also Working Paper (2009)
  2. International trade in durable goods: Understanding volatility, cyclicality, and elasticities
    Journal of International Economics, 2011, 83, (1), 37-52 Downloads View citations (53)
    See also Working Paper (2008)

2010

  1. Global Interest Rates, Currency Returns, and the Real Value of the Dollar
    American Economic Review, 2010, 100, (2), 562-67 Downloads View citations (2)
  2. JIE special issue on international macro-finance
    Journal of International Economics, 2010, 80, (1), 1-2 Downloads View citations (1)

2009

  1. Exchange rate policies
    Staff Papers, 2009, (Nov) Downloads View citations (1)
    See also Chapter (2010)
  2. Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Markets
    IMF Staff Papers, 2009, 56, (3), 543-573 Downloads View citations (6)
    See also Working Paper (2008)
  3. Pass-Through, Exchange Rates, and Monetary Policy
    Journal of Money, Credit and Banking, 2009, 41, (s1), 177-185 Downloads View citations (2)
  4. The International Diversification Puzzle When Goods Prices Are Sticky: It's Really about Exchange-Rate Hedging, Not Equity Portfolios
    American Economic Journal: Macroeconomics, 2009, 1, (2), 155-88 Downloads View citations (28)

2008

  1. First steps: developing a research agenda on globalization and monetary policy
    Annual Report, 2008 Downloads
  2. On the record: making sense of today's globalized economy
    Southwest Economy, 2008, (Sep), 8-9 Downloads
  3. The Bhagwati Award
    Journal of International Economics, 2008, 74, (1), 1-(null) Downloads

2007

  1. Expenditure switching versus real exchange rate stabilization: Competing objectives for exchange rate policy
    Journal of Monetary Economics, 2007, 54, (8), 2346-2374 Downloads View citations (23)

2006

  1. Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing
    Journal of the European Economic Association, 2006, 4, (6), 1249-1260 Downloads View citations (31)
    See also Working Paper (2005)
  2. Taylor Rules and the Deutschmark: Dollar Real Exchange Rate
    Journal of Money, Credit and Banking, 2006, 38, (5), 1175-1194 Downloads View citations (47)
    See also Working Paper (2004)
  3. The U.S. current account deficit and the expected share of world output
    Journal of Monetary Economics, 2006, 53, (5), 1063-1093 Downloads View citations (22)
    Also in Proceedings, 2006, (Jun) (2006) Downloads View citations (32)

    See also Working Paper (2006)

2005

  1. DOES 'AGGREGATION BIAS' EXPLAIN THE PPP PUZZLE?
    Pacific Economic Review, 2005, 10, (1), 49-72 Downloads View citations (33)
    See also Working Paper (2004)
  2. Exchange Rates and Fundamentals
    Journal of Political Economy, 2005, 113, (3), 485-517 Downloads View citations (216)
    Also in Proceedings, 2003, (Mar) (2003) Downloads View citations (25)

    See also Working Paper (2004)
  3. Some New Variance Bounds for Asset Prices
    Journal of Money, Credit and Banking, 2005, 37, (5), 949-55 View citations (1)
    See also Working Paper (2004)

2004

  1. Accounting for Exchange-Rate Variability in Present-Value Models When the Discount Factor Is Near 1
    American Economic Review, 2004, 94, (2), 119-125 Downloads View citations (7)
  2. Endogenous exchange rate pass-through when nominal prices are set in advance
    Journal of International Economics, 2004, 63, (2), 263-291 Downloads View citations (86)
    See also Working Paper (2003)
  3. European product market integration after the euro
    Economic Policy, 2004, 19, (39), 347-384 Downloads View citations (72)

2003

  1. Empirical exchange rate models
    Journal of International Economics, 2003, 60, (1), 1-2 Downloads View citations (4)
  2. Exchange Rate Pass-Through and the Welfare Effects of the Euro
    International Economic Review, 2003, 44, (1), 223-242 Downloads View citations (55)
    See also Working Paper (1999)
  3. Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility
    Review of Economic Studies, 2003, 70, (4), 765-783 Downloads View citations (142)
    Also in Review of Economic Studies, 2003, 70, (4), 765-783 (2003) Downloads View citations (72)

    See also Working Paper (2000)

2002

  1. Currency Unions and International Integration
    Journal of Money, Credit and Banking, 2002, 34, (4), 1067-89 View citations (101)
    See also Working Paper (2001)
  2. Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect
    Journal of Monetary Economics, 2002, 49, (5), 913-940 Downloads View citations (109)
    See also Working Paper (2003)
  3. The Responsiveness of Consumer Prices to Exchange Rates: A Synthesis of Some New Open Economy Macro Models
    Manchester School, 2002, 70, 1-15 Downloads View citations (13)

2001

  1. Deviations from purchasing power parity: causes and welfare costs
    Journal of International Economics, 2001, 55, (1), 29-57 Downloads View citations (73)
    See also Working Paper (2000)
  2. Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets
    Journal of Money, Credit and Banking, 2001, 33, (2), 518-41 View citations (11)
    Also in Proceedings, 2001, 518-547 (2001) View citations (15)

    See also Working Paper (2000)
  3. Violating the Law of One Price: Should We Make a Federal Case Out of It?
    Journal of Money, Credit and Banking, 2001, 33, (1), 1-15 View citations (37)
    See also Working Paper (2000)

2000

  1. Local-currency pricing and the choice of exchange-rate regime
    European Economic Review, 2000, 44, (8), 1449-1472 Downloads View citations (25)
    See also Working Paper (1999)
  2. Long-run PPP may not hold after all
    Journal of International Economics, 2000, 51, (2), 243-273 Downloads View citations (131)
    See also Working Paper (1998)

1999

  1. Accounting for U.S. Real Exchange Rate Changes
    Journal of Political Economy, 1999, 107, (3), 507-538 Downloads View citations (326)
    See also Working Paper (1996)
  2. Are we globalized yet?
    FRBSF Economic Letter, 1999, (nov19) Downloads
  3. On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models
    International Tax and Public Finance, 1999, 6, (4), 491-505 Downloads View citations (15)
    See also Working Paper (1999)
  4. The Long-Run U.S./U.K. Real Exchange Rate
    Journal of Money, Credit and Banking, 1999, 31, (3), 335-56 View citations (21)
    See also Working Paper (1996)

1998

  1. Rent Sharing, Aggregate Saving, and Growth
    Review of Development Economics, 1998, 2, (2), 107-22 Downloads

1997

  1. Intranational, Intracontinental, and Intraplanetary PPP
    Journal of the Japanese and International Economies, 1997, 11, (4), 480-501 Downloads View citations (10)

1996

  1. A note on cointegration and international capital market efficiency
    Journal of International Money and Finance, 1996, 15, (4), 657-660 Downloads View citations (25)
  2. How Wide Is the Border?
    American Economic Review, 1996, 86, (5), 1112-25 Downloads View citations (480)
    See also Working Paper (1995)
  3. The Distribution of Exchange Rates in the EMS
    International Journal of Finance & Economics, 1996, 1, (1), 55-67 Downloads View citations (36)
    See also Working Paper (1994)
  4. The forward discount anomaly and the risk premium: A survey of recent evidence
    Journal of Empirical Finance, 1996, 3, (2), 123-192 Downloads View citations (430)
    See also Working Paper (1995)

1995

  1. Tests of conditional mean-variance efficiency of the U.S. stock market
    Journal of Empirical Finance, 1995, 2, (1), 3-18 Downloads View citations (4)

1994

  1. Can the Markov switching model forecast exchange rates?
    Journal of International Economics, 1994, 36, (1-2), 151-165 Downloads View citations (125)
    See also Working Paper (1992)

1993

  1. Exchange rate regimes and volatility
    Economic Review, 1993, (Q III), 43-58 Downloads View citations (9)
  2. Real exchange rates and relative prices: An empirical investigation
    Journal of Monetary Economics, 1993, 32, (1), 35-50 Downloads View citations (206)
    See also Working Paper (1992)
  3. Tests of Mean-Variance Efficiency of International Equity Markets
    Oxford Economic Papers, 1993, 45, (3), 403-21 Downloads View citations (6)
    See also Working Paper (1992)

1992

  1. On the foreign exchange risk premium in a general equilibrium model
    Journal of International Economics, 1992, 32, (3-4), 305-319 Downloads View citations (29)
    See also Working Paper (1990)
  2. Relative returns on equities in Pacific Basin countries
    Proceedings, 1992, (Sep)
    Also in Proceedings, 1992, 48-67 (1992) View citations (1)

    See also Working Paper (1994)
  3. The Risk Premium and the Liquidity Premium in Foreign Exchange Markets
    International Economic Review, 1992, 33, (4), 871-79 Downloads View citations (7)
    See also Working Paper (1990)

1991

  1. Challenges to stock market efficiency: evidence from mean reversion studies
    Economic Review, 1991, (Sep), 21-35 Downloads View citations (3)
  2. Trade policy under endogenous credibility
    Journal of Development Economics, 1991, 36, (2), 213-228 Downloads View citations (2)
    See also Working Paper (1987)

1990

  1. Long Swings in the Dollar: Are They in the Data and Do Markets Know It?
    American Economic Review, 1990, 80, (4), 689-713 Downloads View citations (335)
  2. Tariffs and saving in a model with new generations
    Journal of International Economics, 1990, 28, (1-2), 71-91 Downloads View citations (15)

1989

  1. Saving and Investment in an Open Economy with Non-traded Goods
    International Economic Review, 1989, 30, (4), 735-52 Downloads View citations (32)
    See also Working Paper (1987)
  2. Tests of International CAPM with Time-Varying Covariances
    Journal of Applied Econometrics, 1989, 4, (2), 119-38 Downloads View citations (68)
    See also Working Paper (1987)
  3. The trade balance and real exchange rate under currency substitution
    Journal of International Money and Finance, 1989, 8, (1), 47-58 Downloads View citations (5)

1986

  1. On the correlation of exchange rates and interest rates
    Journal of International Money and Finance, 1986, 5, (1), 125-128 Downloads
  2. The International Monetary System: Forty years after Bretton Woods: Review essay
    Journal of Monetary Economics, 1986, 17, (3), 441-448 Downloads

1985

  1. Exchange Rate Dynamics, Sticky Prices and the Current Account
    Journal of Money, Credit and Banking, 1985, 17, (3), 312-27 Downloads View citations (4)

1984

  1. Do asset-demand functions optimize over the mean and variance of real returns? A six-currency test
    Journal of International Economics, 1984, 17, (3-4), 309-323 Downloads View citations (42)
    See also Working Paper (1982)
  2. Testing for the absence of expected real profits from forward market speculation
    Journal of International Economics, 1984, 17, (3-4), 299-308 Downloads View citations (19)
  3. The secular inflation term in open-economy Phillips curves
    European Economic Review, 1984, 24, (2), 161-164 Downloads View citations (2)

1982

  1. Why money announcements move interest rates: an answer from the foreign exchange market
    Proceedings, 1982, (6), 1-36 View citations (7)
    See also Working Paper (1982)

Books

2012

  1. Global Financial Crisis
    NBER Books, National Bureau of Economic Research, Inc

Chapters

2013

  1. Inflation and globalisation: a modelling perspective
    A chapter in Globalisation and inflation dynamics in Asia and the Pacific, 2013, vol. 70, pp 99-108 Downloads View citations (2)

2012

  1. Capital controls: what have we learned?
    A chapter in Challenges related to capital flows: Latin American perspectives, 2012, vol. 68, pp 22-26 Downloads

2011

  1. Comment on "Firm Heterogeneity, Endogenous Entry, and the Business Cycle"
    A chapter in NBER International Seminar on Macroeconomics 2011, 2011, pp 87-89 Downloads View citations (1)
  2. Comment on "Risk, Monetary Policy and the Exchange Rate"
    A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 310-314 Downloads

2010

  1. Exchange rate policies
    A chapter in The international financial crisis and policy challenges in Asia and the Pacific, 2010, vol. 52, pp 229-250 Downloads
    See also Journal Article in Staff Papers (2009)

2009

  1. Comment on "Real Variables, Nonlinearity, and European Real Exchange Rates"
    A chapter in NBER International Seminar on Macroeconomics 2008, 2009, pp 194-196 Downloads
  2. Expectations, Monetary Policy, and the Misalignment of Traded Goods Prices
    A chapter in NBER International Seminar on Macroeconomics 2007, 2009, pp 131-157 Downloads View citations (2)

2008

  1. Exchange Rate Models Are Not As Bad As You Think
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 381-441 Downloads View citations (25)
    See also Working Paper (2007)

2005

  1. Comment on "Trade Invoicing in the Accession Countries: Are They Suited to the Euro?"
    A chapter in NBER International Seminar on Macroeconomics 2005, 2005, pp 394-398 Downloads View citations (1)

2003

  1. Expenditure Switching and Exchange-Rate Policy
    A chapter in NBER Macroeconomics Annual 2002, Volume 17, 2003, pp 231-300 Downloads View citations (4)
    See also Working Paper (2002)

2001

  1. The Optimal Choice of Exchange Rate Regime: Price-Setting Rules and Internationalized Production
    A chapter in Topics in Empirical International Economics: A Festschrift in Honor of Robert E. Lipsey, 2001, pp 163-194 Downloads
    See also Working Paper (2000)

1998

  1. Regional Patterns in the Law of One Price: The Roles of Geography versus Currencies
    A chapter in The Regionalization of the World Economy, 1998, pp 153-188 Downloads View citations (12)

1994

  1. Tests of CAPM on an International Portfolio of Bonds and Stocks
    A chapter in The Internationalization of Equity Markets, 1994, pp 149-183 Downloads View citations (3)
    See also Working Paper (1993)

Editor

  1. Journal of International Economics
    Elsevier
 
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