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.

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Working Papers

2012

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

2011

2. The Real Exchange Rate, Real Interest Rates, and the Risk Premium
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   Also in Economics Series, Institute for Advanced Studies (2011) View citations (1)
   Working Papers, Hong Kong Institute for Monetary Research (2011) View citations (2)

2009

3. 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 View citations (1)
4. Currency Misalignments and Optimal Monetary Policy: A Re-examination
   RBA Research Discussion Papers, Reserve Bank of Australia
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (7)
   See also Journal Article in American Economic Review (2011)
5. International Risk Sharing: Through Equity Diversification or Exchange Rate Hedging?
   IMF Working Papers, International Monetary Fund View citations (1)
6. The International Diversification Puzzle when Goods Prices are Sticky: It's Really about Exchange-Rate Hedging, not Equity Portfolios
   IMF Working Papers, International Monetary Fund View citations (20)
   See also Journal Article in American Economic Journal: Macroeconomics (2009)

2008

7. Can Long Horizon Data Beat Random Walk under Engel-West Explanation?
   2008 Meeting Papers, Society for Economic Dynamics
8. 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.) View citations (1)
   See also Journal Article in IMF Staff Papers (2009)
9. International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
   Also in 2008 Meeting Papers, Society for Economic Dynamics (2008) View citations (4)
   See also Journal Article in Journal of International Economics (2011)

2007

10. Exchange Rate Models Are Not as Bad as You Think
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (47)
    See also Chapter (2008)
11. Expectations and Exchange Rate Policy
    Working Papers, Hong Kong Institute for Monetary Research View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (5)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (3)
12. International trade in durable goods: understanding volatility, cyclicality, and elastics
    Globalization and Monetary Policy Institute Working Paper, Federal Reserve Bank of Dallas View citations (3)

2006

13. Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2005) View citations (3)
14. Expenditure switching versus real exchange rate stabilization - competing objectives for exchange rate policy
    Working Paper Series, European Central Bank View citations (2)
    See also Journal Article in Journal of Monetary Economics (2007)
15. Portfolio Choice in a Monetary Open-Economy DSGE Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (49)
    Also in IMF Working Papers, International Monetary Fund (2005) View citations (32)
16. The U.S. Current Account Deficit and the Expected Share of World Output
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2006) View citations (12)
    Working Paper Series, Federal Reserve Bank of San Francisco (2006) View citations (12)
    See also Journal Article in Journal of Monetary Economics (2006)

2005

17. 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 View citations (5)
    See also Journal Article in Journal of the European Economic Association (2006)
18. The US Current Account Deficit: A Re-examination of the Role of Private Saving
    RBA Research Discussion Papers, Reserve Bank of Australia

2004

19. 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 View citations (20)
20. Does "Aggregation Bias" Explain the PPP Puzzle?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article in Pacific Economic Review (2005)
21. Exchange Rates and Fundamentals
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Working Paper Series, European Central Bank (2003) View citations (13)
    See also Journal Article in Journal of Political Economy (2005)
22. On the Relationship between Pass-Through and Sticky Nominal Prices
    Working Papers, Hong Kong Institute for Monetary Research View citations (7)
23. Some New Variance Bounds for Asset Prices
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Money, Credit and Banking (2005)
24. Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article in Journal of Money, Credit and Banking (2006)

2003

25. Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    Also in IEHAS Discussion Papers, Institute of Economics, Hungarian Academy of Sciences (2003) View citations (7)
    Working Papers, Hong Kong Institute for Monetary Research (2002) View citations (6)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (6)
    See also Journal Article in Journal of International Economics (2004)
26. Exchange Rate Pass-Through, Exchange Rate Volatility, and ExchangeRate Disconnect
    DNB Staff Reports (discontinued), Netherlands Central Bank
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (108)
    See also Journal Article in Journal of Monetary Economics (2002)
27. 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.) View citations (17)

2002

28. Expenditure Switching and Exchange Rate Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (48)
    See also Chapter (2003)
29. 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 View citations (26)

2001

30. Currency Unions and International Integration
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (13)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (38)
    See also Journal Article in Journal of Money, Credit and Banking (2002)
31. Endogenous Currency of Price Setting in a Dynamic Open Economy Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (66)
32. The Adjustment of Prices and the Adjustment of the Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
    Also in Working Papers, University of Washington, Department of Economics (2000) View citations (7)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (1)

2000

33. 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 View citations (8)
34. Deviations from purchasing power parity: causes and welfare costs
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    Also in Working Papers, University of Washington, Department of Economics (1999) View citations (4)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) View citations (12)
    See also Journal Article in Journal of International Economics (2001)
35. Monetary Policy In The Open Economy Revisited: Price Setting Rules And Exchange Rate Flexibility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (50)
36. Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibiity
    Working Papers, University of Washington, Department of Economics
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (1)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (113)
    Working Papers, Hong Kong Institute for Monetary Research (2000) View citations (80)
    See also Journal Article in Review of Economic Studies (2003)
37. Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (1)
    Working Papers, University of Washington, Department of Economics (2000)
    See also Journal Article in Journal of Money, Credit and Banking (2001)
38. 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 View citations (11)
    Also in Working Papers, University of Washington, Department of Economics (2000) View citations (7)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (10)
    See also Chapter (2001)
39. Violating the Law of One Price: Should We Make a Federal Case Out of It?
    Working Papers, University of Washington, Department of Economics View citations (4)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (5)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (5)
    See also Journal Article in Journal of Money, Credit and Banking (2001)

1999

40. Exchange Rate Pass-Through and the Welfare Effects of the Euro
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    Also in Working Papers, University of Washington, Department of Economics (1999) View citations (7)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) View citations (49)
    See also Journal Article in International Economic Review (2003)
41. Local-Currency Pricing and the Choice of Exchange-Rate Regime
    Working Papers, University of Washington, Department of Economics
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) View citations (4)
    See also Journal Article in European Economic Review (2000)
42. On the Foreign-Exchange Risk Premium in Sticky-Price General Equilibrium Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    See also Journal Article in International Tax and Public Finance (1999)

1998

43. 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 View citations (98)
44. Long-Run PPP May Not Hold After All
    Working Papers, University of Washington, Department of Economics 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 (22)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1998) View citations (10)
    NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (23)
    Working Papers, University of Washington, Department of Economics (1996) View citations (22)
    See also Journal Article in Journal of International Economics (2000)
45. 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 View citations (18)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (9)
    Working Papers, University of Washington, Department of Economics (1998) View citations (15)

1997

46. Intra-National, Intra-Continental, and Intra-Planetary PPP
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (11)

1996

47. 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) View citations (7)
48. 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) View citations (12)
    Working Papers, University of Washington, Department of Economics (1996) View citations (66)
    See also Journal Article in Journal of Political Economy (1999)
49. 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) View citations (23)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1996) View citations (7)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (1)
50. The Distribution of Exchange Rates in the EMS
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (29)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1994) View citations (15)
    See also Journal Article in International Journal of Finance & Economics (1996)
51. The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (335)
    See also Journal Article in Journal of Empirical Finance (1996)
52. The Long-Run U.S./U.K. Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    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

53. 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) View citations (13)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1995) View citations (14)
    Research Working Paper, Federal Reserve Bank of Kansas City (1995) View citations (32)
    See also Journal Article in American Economic Review (1996)
54. 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 (6)

1994

55. A Test of International CAPM
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in Research Paper, Federal Reserve Bank of New York (1988) View citations (1)
56. Can the Markov Switching Model Forecast Exchange Rates?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (106)
    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)
57. Real Exchange Rates and Relative Prices: An Empirical Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Journal of Monetary Economics (1993)
58. Relative Returns on Equities in Pacific Basin Countries
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article in Proceedings (1992)

1993

59. Tests of CAPM on an International Portfolio of Bonds and Stocks
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Chapter (1994)
60. 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 View citations (3)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1990)
    Economics Working Papers, University of California at Berkeley (1990) View citations (1)

1992

61. 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)
62. 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

63. Is real exchange rate variability caused by relative price changes? An empirical investigation
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (8)

1990

64. 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)
65. 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

66. Conditional Mean-Variance Efficiency of the U.S. Stock Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in Research Paper, Federal Reserve Bank of New York (1989)
67. 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 View citations (8)

1988

68. 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)

1987

69. Saving and Investment in an Open Economy with Non-Traded Goods
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article in International Economic Review (1989)
70. Tests of International CAPM with Time-Varying Covariances
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article in Journal of Applied Econometrics (1989)
71. The Real Effects of Foreign Inflation in the Presence of Currency Substitution
    NBER Working Papers, National Bureau of Economic Research, Inc
72. Trade Policy under Endogenous Credibility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in Journal of Development Economics (1991)

1986

73. International Borrowing to Finance Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
74. Tariffs, Saving and the Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)

1985

75. 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
    See also Journal Article in Journal of International Economics (1984)

1984

76. Why Money Announcements Move Interest Rates: An Answer from the Foreign Exchange Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in Proceedings (1982)

Journal Articles

2012

1. Real Exchange Rate Adjustment in and out of the Eurozone
   American Economic Review, 2012, 102, (3), 179-85 View citations (6)

2011

2. Currency Misalignments and Optimal Monetary Policy: A Reexamination
   American Economic Review, 2011, 101, (6), 2796-2822 View citations (6)
   See also Working Paper (2009)
3. International trade in durable goods: Understanding volatility, cyclicality, and elasticities
   Journal of International Economics, 2011, 83, (1), 37-52 View citations (5)
   See also Working Paper (2008)

2010

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

2009

6. Exchange rate policies
   Staff Papers, 2009, (Nov) View citations (1)
   See also Chapter (2010)
7. Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Markets
   IMF Staff Papers, 2009, 56, (3), 543-573 View citations (2)
   See also Working Paper (2008)
8. Pass-Through, Exchange Rates, and Monetary Policy
   Journal of Money, Credit and Banking, 2009, 41, (s1), 177-185 View citations (1)
9. 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 View citations (19)
   See also Working Paper (2009)

2008

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

2007

13. Expenditure switching versus real exchange rate stabilization: Competing objectives for exchange rate policy
    Journal of Monetary Economics, 2007, 54, (8), 2346-2374 View citations (14)
    See also Working Paper (2006)

2006

14. 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 View citations (26)
    See also Working Paper (2005)
15. Taylor Rules and the Deutschmark: Dollar Real Exchange Rate
    Journal of Money, Credit and Banking, 2006, 38, (5), 1175-1194 View citations (12)
    See also Working Paper (2004)
16. The U.S. current account deficit and the expected share of world output
    Journal of Monetary Economics, 2006, 53, (5), 1063-1093 View citations (12)
    Also in Proceedings, 2006, (Jun) (2006) View citations (23)
    See also Working Paper (2006)

2005

17. DOES 'AGGREGATION BIAS' EXPLAIN THE PPP PUZZLE?
    Pacific Economic Review, 2005, 10, (1), 49-72 View citations (25)
    See also Working Paper (2004)
18. Exchange Rates and Fundamentals
    Journal of Political Economy, 2005, 113, (3), 485-517 View citations (137)
    Also in Proceedings, 2003, (Mar) (2003) View citations (25)
    See also Working Paper (2004)
19. Some New Variance Bounds for Asset Prices
    Journal of Money, Credit and Banking, 2005, 37, (5), 949-55
    See also Working Paper (2004)

2004

20. Accounting for Exchange-Rate Variability in Present-Value Models When the Discount Factor Is Near 1
    American Economic Review, 2004, 94, (2), 119-125 View citations (6)
21. Endogenous exchange rate pass-through when nominal prices are set in advance
    Journal of International Economics, 2004, 63, (2), 263-291 View citations (65)
    See also Working Paper (2003)
22. European product market integration after the euro
    Economic Policy, 2004, 19, (39), 347-384 View citations (52)

2003

23. Empirical exchange rate models
    Journal of International Economics, 2003, 60, (1), 1-2 View citations (4)
24. Exchange Rate Pass-Through and the Welfare Effects of the Euro
    International Economic Review, 2003, 44, (1), 223-242 View citations (37)
    See also Working Paper (1999)
25. Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility
    Review of Economic Studies, 2003, 70, (4), 765-783 View citations (76)
    See also Working Paper (2000)

2002

26. Currency Unions and International Integration
    Journal of Money, Credit and Banking, 2002, 34, (4), 1067-89 View citations (79)
    See also Working Paper (2001)
27. Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect
    Journal of Monetary Economics, 2002, 49, (5), 913-940 View citations (84)
    See also Working Paper (2003)
28. The Responsiveness of Consumer Prices to Exchange Rates: A Synthesis of Some New Open Economy Macro Models
    Manchester School, 2002, 70, 1-15 View citations (12)

2001

29. Deviations from purchasing power parity: causes and welfare costs
    Journal of International Economics, 2001, 55, (1), 29-57 View citations (59)
    See also Working Paper (2000)
30. 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 (9)
    Also in Proceedings, 2001, 518-547 (2001) View citations (9)
    See also Working Paper (2000)
31. 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 (33)
    See also Working Paper (2000)

2000

32. Local-currency pricing and the choice of exchange-rate regime
    European Economic Review, 2000, 44, (8), 1449-1472 View citations (16)
    See also Working Paper (1999)
33. Long-run PPP may not hold after all
    Journal of International Economics, 2000, 51, (2), 243-273 View citations (103)
    See also Working Paper (1998)

1999

34. Accounting for U.S. Real Exchange Rate Changes
    Journal of Political Economy, 1999, 107, (3), 507-538 View citations (248)
    See also Working Paper (1996)
35. Are we globalized yet?
    FRBSF Economic Letter, 1999, (Nov 19)
36. On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models
    International Tax and Public Finance, 1999, 6, (4), 491-505 View citations (16)
    See also Working Paper (1999)
37. The Long-Run U.S./U.K. Real Exchange Rate
    Journal of Money, Credit and Banking, 1999, 31, (3), 335-56 View citations (12)
    See also Working Paper (1996)

1998

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

1997

39. Intranational, Intracontinental, and Intraplanetary PPP
    Journal of the Japanese and International Economies, 1997, 11, (4), 480-501 View citations (9)

1996

40. A note on cointegration and international capital market efficiency
    Journal of International Money and Finance, 1996, 15, (4), 657-660 View citations (19)
41. How Wide Is the Border?
    American Economic Review, 1996, 86, (5), 1112-25 View citations (419)
    See also Working Paper (1995)
42. The Distribution of Exchange Rates in the EMS
    International Journal of Finance & Economics, 1996, 1, (1), 55-67 View citations (31)
    See also Working Paper (1996)
43. The forward discount anomaly and the risk premium: A survey of recent evidence
    Journal of Empirical Finance, 1996, 3, (2), 123-192 View citations (360)
    See also Working Paper (1996)

1995

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

1994

45. Can the Markov switching model forecast exchange rates?
    Journal of International Economics, 1994, 36, (1-2), 151-165 View citations (104)
    See also Working Paper (1994)

1993

46. Exchange rate regimes and volatility
    Economic Review, 1993, (Q III), 43-58 View citations (9)
47. Real exchange rates and relative prices: An empirical investigation
    Journal of Monetary Economics, 1993, 32, (1), 35-50 View citations (178)
    See also Working Paper (1994)
48. Tests of Mean-Variance Efficiency of International Equity Markets
    Oxford Economic Papers, 1993, 45, (3), 403-21 View citations (3)
    See also Working Paper (1992)

1992

49. On the foreign exchange risk premium in a general equilibrium model
    Journal of International Economics, 1992, 32, (3-4), 305-319 View citations (25)
    See also Working Paper (1990)
50. 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)
51. The Risk Premium and the Liquidity Premium in Foreign Exchange Markets
    International Economic Review, 1992, 33, (4), 871-79 View citations (7)
    See also Working Paper (1990)

1991

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

1990

54. Long Swings in the Dollar: Are They in the Data and Do Markets Know It?
    American Economic Review, 1990, 80, (4), 689-713 View citations (286)
55. Tariffs and saving in a model with new generations
    Journal of International Economics, 1990, 28, (1-2), 71-91 View citations (10)

1989

56. Saving and Investment in an Open Economy with Non-traded Goods
    International Economic Review, 1989, 30, (4), 735-52 View citations (15)
    See also Working Paper (1987)
57. Tests of International CAPM with Time-Varying Covariances
    Journal of Applied Econometrics, 1989, 4, (2), 119-38 View citations (46)
    See also Working Paper (1987)
58. The trade balance and real exchange rate under currency substitution
    Journal of International Money and Finance, 1989, 8, (1), 47-58 View citations (4)

1986

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

1985

61. Exchange Rate Dynamics, Sticky Prices and the Current Account
    Journal of Money, Credit and Banking, 1985, 17, (3), 312-27 View citations (2)

1984

62. 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 View citations (36)
    See also Working Paper (1985)
63. Testing for the absence of expected real profits from forward market speculation
    Journal of International Economics, 1984, 17, (3-4), 299-308 View citations (18)
64. The secular inflation term in open-economy Phillips curves
    European Economic Review, 1984, 24, (2), 161-164 View citations (2)

1982

65. Why money announcements move interest rates: an answer from the foreign exchange market
    Proceedings, 1982, (Nov), 1-36 View citations (10)
    See also Working Paper (1984)

Chapters

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

2011

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

2010

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

2009

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

2008

7. Exchange Rate Models Are Not As Bad As You Think
   A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 381-441 View citations (17)
   See also Working Paper (2007)

2005

8. 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 View citations (1)

2003

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

2001

10. 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
    See also Working Paper (2000)

1998

11. 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 View citations (11)

1994

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

Editor

1. Journal of International Economics
   Elsevier