Details about Maurice Obstfeld

E-mail:
Homepage:	http://emlab.berkeley.edu/users/obstfeld/index.shtml
Workplace:	Department of Economics, University of California-Berkeley, (more information at EDIRC)

Access statistics for papers by Maurice Obstfeld.

Last updated 2013-04-05. Update your information in the RePEc Author Service.

Short-id: pob13

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Working Papers

2012

1. Does the Current Account Still Matter?
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (3)
   See also Journal Article in American Economic Review (2012)
2. The Case for Open-Market Purchases in a Liquidity Trap
   Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley View citations (1)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (3)
   Macroeconomics, EconWPA (2004) View citations (3)
   Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2012) View citations (1)
   Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (1)
   NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (26)
   See also Journal Article in American Economic Review (2005)

2011

3. Financial Flows, Financial Crises, and Global Imbalances
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
   See also Journal Article in Journal of International Money and Finance (2012)
4. International Liquidity: The Fiscal Dimension
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
   See also Journal Article in Monetary and Economic Studies (2011)
5. Stories of the Twentieth Century for the Twenty-First
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011)
   See also Journal Article in American Economic Journal: Macroeconomics (2012)
6. The International Monetary System: Living with Asymmetry
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (1)
   See also Chapter (2011)

2009

7. Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
   See also Journal Article in American Economic Review (2009)
8. Global Imbalances and the Financial Crisis: Products of Common Causes
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
   See also Journal Article in Proceedings (2009)
9. International Finance and Growth in Developing Countries: What Have We Learned?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
10. Lenders of Last Resort in a Globalized World
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (4)
    See also Journal Article in Monetary and Economic Studies (2009)
11. Time of Troubles: The Yen and Japan's Economy, 1985-2008
    NBER Working Papers, National Bureau of Economic Research, Inc

2008

12. Financial Stability, the Trilemma, and International Reserves
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (16)
    See also Journal Article in American Economic Journal: Macroeconomics (2010)

2007

13. The Renminbifs Dollar Peg at the Crossroads
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (5)
    See also Journal Article in Monetary and Economic Studies (2007)

2006

14. Implications for the Yen of Japanese Current Account Adjustment
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley
    See also Journal Article in Monetary and Economic Studies (2006)
15. Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
16. The Renminbi’s Dollar Peg at the Crossroads
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley

2005

17. America’s Deficit, the World’s Problem
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley
18. Monetary Policy in the Open Economy Revisited: The Case for Exchange-Rate Flexibility Restored
    2005 Meeting Papers, Society for Economic Dynamics View citations (25)
    See also Journal Article in Journal of International Money and Finance (2008)
19. The Unsustainable US Current Account Position Revisited
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (32)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (94)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2005) View citations (28)
    See also Chapter (2007)
    Journal Article in Proceedings (2005)

2004

20. External Adjustment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (60)
    See also Journal Article in Review of World Economics (Weltwirtschaftliches Archiv) (2004)
21. Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (13)
22. Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (14)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (17)
    International Finance, EconWPA (2004) View citations (15)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (13)
    See also Journal Article in IMF Staff Papers (2004)
23. Monetary and Fiscal Remedies for Deflation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article in American Economic Review (2004)
24. The Trilemma in History: Trade-offs Among Exchange Rates, Monetary Policies and Capital Mobility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (9)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (32)
    International Finance, EconWPA (2004) View citations (8)
    DNB Staff Reports (discontinued), Netherlands Central Bank (2003) View citations (1)
    See also Journal Article in The Review of Economics and Statistics (2005)

2003

25. Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics
    International Finance, EconWPA View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (42)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2002) View citations (46)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (40)
    See also Journal Article in Monetary and Economic Studies (2002)
26. Global Implications of Self-Oriented National Monetary Rules
    Macroeconomics, EconWPA View citations (30)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2001) View citations (8)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2001) View citations (33)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001)
    See also Journal Article in The Quarterly Journal of Economics (2002)
27. International Macroeconomics: Beyond the Mundell-Fleming Model
    International Finance, EconWPA
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2001) View citations (36)
    NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (73)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2001) View citations (54)
28. Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31
    International Trade, EconWPA View citations (11)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2003) View citations (10)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2003) View citations (10)
    NBER Working Papers, National Bureau of Economic Research, Inc (2002)
    See also Journal Article in Economic Journal (2003)

2002

29. Globalization and Capital Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (104)
    See also Chapter (2003)

2001

30. Perspectives on OECD Economic Integration: Implications for US Current Account Adjustment
    International Trade, EconWPA View citations (12)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2000) View citations (13)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2000) View citations (11)
    See also Journal Article in Proceedings (2000)
31. The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
    International Trade, EconWPA View citations (213)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2000) View citations (312)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2000) View citations (461)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (472)
    See also Chapter (2001)

2000

32. Do We Really Need a New International Monetary Compact?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
33. EMU: Ready, or Not?
    International Trade, EconWPA
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (1)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1998) View citations (15)
    Princeton Essays in International Economics, International Economics Section, Departement of Economics Princeton University, (1998) View citations (14)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (16)
34. New Directions for Stochastic Open Economy Models
    International Finance, EconWPA View citations (314)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1999) View citations (40)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (37)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1999) View citations (42)
    See also Journal Article in Journal of International Economics (2000)
35. The Global Capital Market: Benefactor or Menace?
    International Finance, EconWPA View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (112)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1998) View citations (117)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (112)
    See also Journal Article in Journal of Economic Perspectives (1998)

1999

36. A Strategy for Launching the Euro
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (3)
    See also Journal Article in European Economic Review (1998)
37. Open-Economy Macroeconomics, Developments in Theory and Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in Working Papers, Queen's University, Department of Economics (1997) View citations (5)
    See also Journal Article in Scandinavian Journal of Economics (1998)
38. Regional Nonadjustment and Fiscal Policy: Lessons for EMU
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (13)
39. The Great Depression as a Watershed: International Capital Mobility over the Long Run
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (45)
    See also Chapter (1998)

1998

40. Destabilizing Effects of Exchange-Rate Escape Clauses
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1996)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1996) View citations (21)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (17)
    See also Journal Article in Journal of International Economics (1997)
41. Foreign Resource Inflows, Saving, and Growth
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (7)
42. Risk and Exchange Rate
    Working Papers, Princeton, Woodrow Wilson School - Public and International Affairs View citations (77)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (152)

1997

43. Dynamic Seigniorage Theory: An Exploration
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (6)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1989)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (17)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1997) View citations (6)
44. Models of Currency Crises with Self-Fulfilling Features
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (67)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1996) View citations (260)
    See also Journal Article in European Economic Review (1996)
45. Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (100)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1997) View citations (11)
    NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (133)
    See also Journal Article in Journal of the Japanese and International Economies (1997)
46. Saving, Investment, and Gold: A Reassessment of Historical Current Account Data
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (16)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (11)

1996

47. Exchange Rate Dynamics Redux
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1995) View citations (720)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1995) View citations (755)
    See also Journal Article in Journal of Political Economy (1995)
48. International Capital Mobility in the 1990s
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1994) View citations (7)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1994) View citations (5)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1994) View citations (5)
49. Intertemporal Price Speculation and the Optimal Current-Account Deficit: Reply and Clarification
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (1)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1996) View citations (2)
    See also Journal Article in Journal of International Money and Finance (1996)
50. The Intertemporal Approach to the Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (49)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1994) View citations (21)
    See also Chapter (1995)

1995

51. Evaluating Risky Consumption Paths: The Role of Intertemporal Substitutability
    NBER Technical Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in European Economic Review (1994)
52. Risk-Taking, Global Diversification, and Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (79)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1992) View citations (5)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1992) View citations (1)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1993)
    See also Journal Article in American Economic Review (1994)
53. The Mirage of Fixed Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (298)
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1995) View citations (295)
    See also Journal Article in Journal of Economic Perspectives (1995)

1994

54. Are Industrial-Country Consumption Risks Globally Diversified?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (96)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1993) View citations (3)
55. The Logic of Currency Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (279)

1993

56. International Adjustment with Habit-Forming Consumption: A Diagrammatic Exposition
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in Review of International Economics (1992)
57. Model Trending Real Exchange Rates
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (37)
58. The Adjustment Mechanism
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1992) View citations (2)
    See also Chapter (1993)

1992

59. Exchange Rate Dynamics Under Stochastic Regime Shifts: A Unified Approach
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (44)
    See also Journal Article in Journal of International Economics (1991)
60. Intrinsic Bubbles: The Case of Stock Prices
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in American Economic Review (1991)

1991

61. Commodity Trade and International Risk Sharing: How Much Do Financial Markets Matter?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (214)
    See also Journal Article in Journal of Monetary Economics (1991)
62. Intertemporal Dependence, Impatience, and Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in Journal of Monetary Economics (1990)
63. Stochastic Process Switching: Some Simple Solutions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
    See also Journal Article in Econometrica (1991)
64. The Effectiveness of Foreign-Exchange Intervention: Recent Experience
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

1990

65. A Model of Currency Depreciation and the Debt-Inflation Spiral
    CEPR Discussion Papers, C.E.P.R. Discussion Papers
    See also Journal Article in Journal of Economic Dynamics and Control (1991)

1989

66. Competitiveness, Realignment, and Speculation: The Role of Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
67. Fiscal Deficits and Relative Prices in a Growing World Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    See also Journal Article in Journal of Monetary Economics (1989)
68. How Integrated are World Capital Markets? Some New Tests
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
69. Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
70. Peso Problems, Bubbles, and Risk in the Empirical Assessment of Exchange-Rate Behavior
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)

1988

71. Exchange-Rate Dynamics and Optimal Asset Accumulation Revisited
    NBER Technical Working Papers, National Bureau of Economic Research, Inc
72. International Finance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)

1987

73. Capital Flows, the Current Account, and the Real Exchange Rate: Consequences of Liberalization and Stabilization
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
74. Ruling Out Nonstationary Speculative Bubbles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

1986

75. Capital Controls, The Dual Exchange Rate, and Devaluation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Journal Article in Journal of International Economics (1986)
76. Capital Mobility in the World Economy: Theory and Measurement
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (131)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1986)
77. Rational and Self-Fulfilling Balance-of-Payments Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (179)
    See also Journal Article in American Economic Review (1986)
78. Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)
    See also Journal Article in Canadian Journal of Economics (1986)

1985

79. Exchange-Rate Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (51)
    See also Chapter (1985)
80. International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates: A Review of Recent Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (29)
    See also Chapter (1984)
81. The Capital Inflows Problem Revisited: A Stylized Model of Southern Cone Disinflation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    See also Journal Article in Review of Economic Studies (1985)

1984

82. Balance-of-Payments Crises and Devaluation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (34)
    See also Journal Article in Journal of Money, Credit and Banking (1984)
83. Capital Mobility and the Scope for Sterilization: Mexico in the 1970s
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1981) View citations (2)
    See also Chapter (1983)
84. Exchange Rate Dynamics With Sluggish Prices Under Alternative Price-Adjustment Rules
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (32)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1983) View citations (2)
    See also Journal Article in International Economic Review (1984)
85. Inflation, Real Interest, and the Determinacy of Equilibrium in an Optimizing Framework
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

1983

86. Exchange Rates, Inflation and the Sterilization Problem: Germany, 1975-1981
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in European Economic Review (1983)
87. Intertemporal Price Speculation and the Optimal Current-Account Deficit
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article in Journal of International Money and Finance (1983)
88. Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (95)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1981) View citations (2)
    See also Journal Article in Journal of Political Economy (1983)
89. Two-Step Two-Stage Least Squares Estimation in Models with Rational Expectations
    NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (42)
    See also Journal Article in Journal of Econometrics (1983)

1982

90. Can We Sterilize? Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article in American Economic Review (1982)
91. Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in Econometrica (1982)
92. The Capitalization of Income Streams and the Effects of Open Market Policy under Fixed Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in Journal of Monetary Economics (1982)
93. Transitory Terms-of-Trade Shocks and the Current Account: The Case of Constant Time Preference
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1981)

1981

94. Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article in The Quarterly Journal of Economics (1982)
95. Exchange-Rate Expectations and Nominal Interest Differentials: A Test ofthe Fisher Hypothesis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
96. Intermediate Imports, the Terms of Trade, and the Dynamics of the Exchange Rate and Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article in Journal of International Economics (1980)
97. Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (54)
    See also Journal Article in Journal of Political Economy (1981)

1980

98. Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    See also Journal Article in American Economic Review (1981)
99. Imperfect Asset Substitutability and Monetary Policy under Fixed Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article in Journal of International Economics (1980)
100. Sterilization and Offsetting Capital Movements: Evidence from West Germany, 1960-1970
     NBER Working Papers, National Bureau of Economic Research, Inc

Journal Articles

2012

1. Does the Current Account Still Matter?
   American Economic Review, 2012, 102, (3), 1-23 View citations (3)
   See also Working Paper (2012)
2. Financial flows, financial crises, and global imbalances
   Journal of International Money and Finance, 2012, 31, (3), 469-480 View citations (5)
   See also Working Paper (2011)
3. Stories of the Twentieth Century for the Twenty-First
   American Economic Journal: Macroeconomics, 2012, 4, (1), 226-65 View citations (7)
   See also Working Paper (2011)

2011

4. Expansión de las posiciones brutas de activos y el sistema monetario internacional
   Boletín, 2011, LVII, (1), 31-39
5. International Liquidity: The Fiscal Dimension
   Monetary and Economic Studies, 2011, 29, 33-48 View citations (2)
   See also Working Paper (2011)

2010

6. Financial Stability, the Trilemma, and International Reserves
   American Economic Journal: Macroeconomics, 2010, 2, (2), 57-94 View citations (27)
   See also Working Paper (2008)
7. The immoderate world economy
   Journal of International Money and Finance, 2010, 29, (4), 603-614 View citations (5)

2009

8. Asia, the financial crisis, and global economic governance - closing remarks
   Proceedings, 2009
9. Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
   American Economic Review, 2009, 99, (2), 480-86 View citations (12)
   See also Working Paper (2009)
10. Global imbalances and the financial crisis: products of common causes
    Proceedings, 2009, 131-172 View citations (12)
    See also Working Paper (2009)
11. International Finance and Growth in Developing Countries: What Have We Learned&quest
    IMF Staff Papers, 2009, 56, (1), 63-111 View citations (14)
12. Lenders of Last Resort in a Globalized World
    Monetary and Economic Studies, 2009, 27, (1), 35-52 View citations (3)
    See also Working Paper (2009)

2008

13. Concluding Remarks
    Monetary and Economic Studies, 2008, 26, 49-58
14. Monetary policy in the open economy revisited: The case for exchange-rate flexibility restored
    Journal of International Money and Finance, 2008, 27, (6), 949-957 View citations (5)
    See also Working Paper (2005)

2007

15. The Renminbifs Dollar Peg at the Crossroads
    Monetary and Economic Studies, 2007, 25, (S1), 29-56
    See also Working Paper (2007)

2006

16. Implications for the Yen of Japanese Current Account Adjustment
    Monetary and Economic Studies, 2006, 24, (S1), 27-38
    See also Working Paper (2006)

2005

17. America's Deficit, the World's Problem: Keynote Speech
    Monetary and Economic Studies, 2005, 23, (S1), 25-35
18. Comment on: "Rational speculation and exchange rates"
    Journal of Monetary Economics, 2005, 52, (1), 31-33
19. Global Current Account Imbalances and Exchange Rate Adjustments
    Brookings Papers on Economic Activity, 2005, 36, (1), 67-146 View citations (122)
20. Optimal fiscal policy in a monetary union - comments
    Proceedings, 2005
21. The Case for Open-Market Purchases in a Liquidity Trap
    American Economic Review, 2005, 95, (1), 110-137 View citations (29)
    Also in Proceedings, 2003, (Mar) (2003) View citations (25)
    See also Working Paper (2012)
22. The Trilemma in History: Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility
    The Review of Economics and Statistics, 2005, 87, (3), 423-438 View citations (34)
    See also Working Paper (2004)
23. The unsustainable U.S. current account position revisited
    Proceedings, 2005, (Feb) View citations (39)
    Also in Proceedings, 2005 (2005) View citations (33)
    See also Chapter (2007)
    Working Paper (2005)

2004

24. External adjustment
    Review of World Economics (Weltwirtschaftliches Archiv), 2004, 140, (4), 541-568 View citations (24)
    See also Working Paper (2004)
25. Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies: Keynote Speech
    Monetary and Economic Studies, 2004, 22, (S1), 29-55 View citations (3)
26. Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period
    IMF Staff Papers, 2004, 51, (s1), 75-108 View citations (15)
    See also Working Paper (2004)
27. Monetary and Fiscal Remedies for Deflation
    American Economic Review, 2004, 94, (2), 71-75 View citations (1)
    See also Working Paper (2004)

2003

28. Sovereign risk, credibility and the gold standard: 1870-1913 versus 1925-31
    Economic Journal, 2003, 113, (487), 241-275 View citations (1)
    See also Working Paper (2003)

2002

29. Exchange Rates and Adjustment: Perspectives from the New Open- Economy Macroeconomics
    Monetary and Economic Studies, 2002, 20, (S1), 23-46 View citations (12)
    See also Working Paper (2003)
30. Global Implications Of Self-Oriented National Monetary Rules
    The Quarterly Journal of Economics, 2002, 117, (2), 503-535 View citations (75)
    See also Working Paper (2003)
31. Inflation-Targeting, Exchange-Rate Pass-Through, and Volatility
    American Economic Review, 2002, 92, (2), 102-107 View citations (10)

2000

32. New directions for stochastic open economy models
    Journal of International Economics, 2000, 50, (1), 117-153 View citations (315)
    See also Working Paper (2000)
33. Perspectives on OECD economic integration: implications for U.S. current account adjustment
    Proceedings, 2000, 169-208 View citations (28)
    See also Working Paper (2001)

1998

34. A strategy for launching the Euro
    European Economic Review, 1998, 42, (6), 975-1007 View citations (5)
    See also Working Paper (1999)
35. Financial shocks and business cycles: lessons form outside the United States
    Conference Series ; [Proceedings], 1998, (Jun), 187-193
36. Open-Economy Macroeconomics: Developments in Theory and Policy
    Scandinavian Journal of Economics, 1998, 100, (1), 247-75 View citations (17)
    See also Working Paper (1999)
37. Regional non-adjustment and fiscal policy
    Economic Policy, 1998, 13, (26), 205-259 View citations (80)
38. The Global Capital Market: Benefactor or Menace?
    Journal of Economic Perspectives, 1998, 12, (4), 9-30 View citations (118)
    See also Working Paper (2000)

1997

39. DYNAMIC SEIGNIORAGE THEORY
    Macroeconomic Dynamics, 1997, 1, (03), 588-614 View citations (8)
40. Destabilizing effects of exchange-rate escape clauses
    Journal of International Economics, 1997, 43, (1-2), 61-77 View citations (48)
    See also Working Paper (1998)
41. Europe's gamble
    Brookings Papers on Economic Activity, 1997, 28, (2), 241-317 View citations (24)
42. Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited
    Journal of the Japanese and International Economies, 1997, 11, (4), 441-479 View citations (122)
    See also Working Paper (1997)

1996

43. Intertemporal price speculation and the optimal current-account deficit: reply and clarification
    Journal of International Money and Finance, 1996, 15, (1), 141-147 View citations (3)
    See also Working Paper (1996)
44. Models of currency crises with self-fulfilling features
    European Economic Review, 1996, 40, (3-5), 1037-1047 View citations (268)
    See also Working Paper (1997)

1995

45. Exchange Rate Dynamics Redux
    Journal of Political Economy, 1995, 103, (3), 624-60 View citations (740)
    See also Working Paper (1996)
46. Intenational Currency Experience: New Lessons and Lessons Relearned
    Brookings Papers on Economic Activity, 1995, 26, (1, 25th Anniversary Issue), 119-220 View citations (6)
47. The Mirage of Fixed Exchange Rates
    Journal of Economic Perspectives, 1995, 9, (4), 73-96 View citations (300)
    See also Working Paper (1995)

1994

48. Evaluating risky consumption paths: The role of intertemporal substitutability
    European Economic Review, 1994, 38, (7), 1471-1486 View citations (87)
    See also Working Paper (1995)
49. Risk-Taking, Global Diversification, and Growth
    American Economic Review, 1994, 84, (5), 1310-29 View citations (111)
    See also Working Paper (1995)

1992

50. International Adjustment with Habit-Forming Consumption: A Diagrammatic Exposition
    Review of International Economics, 1992, 1, (1), 32-48 View citations (9)
    See also Working Paper (1993)
51. International risk sharing and capital mobility: another look
    Journal of International Money and Finance, 1992, 11, (1), 115-121 View citations (5)

1991

52. A model of currency depreciation and the debt-inflation spiral
    Journal of Economic Dynamics and Control, 1991, 15, (1), 151-177 View citations (11)
    See also Working Paper (1990)
53. Commodity trade and international risk sharing: How much do financial markets matter?
    Journal of Monetary Economics, 1991, 28, (1), 3-24 View citations (234)
    See also Working Paper (1991)
54. Exchange-rate dynamics under stochastic regime shifts: A unified approach
    Journal of International Economics, 1991, 31, (3-4), 203-229 View citations (50)
    See also Working Paper (1992)
55. Intrinsic Bubbles: The Case of Stock Prices
    American Economic Review, 1991, 81, (5), 1189-214 View citations (125)
    See also Working Paper (1992)
56. Stochastic Process Switching: Some Simple Solutions
    Econometrica, 1991, 59, (1), 241-50 View citations (31)
    See also Working Paper (1991)

1990

57. Intertemporal dependence, impatience, and dynamics
    Journal of Monetary Economics, 1990, 26, (1), 45-75 View citations (74)
    See also Working Paper (1991)
58. Time Consistency of Fiscal and Monetary Policy: A Comment
    Econometrica, 1990, 58, (5), 1245-47 View citations (12)

1989

59. Fiscal deficits and relative prices in a growing world economy
    Journal of Monetary Economics, 1989, 23, (3), 461-484 View citations (24)
    See also Working Paper (1989)
60. U.S. International capital flows: Perspectives from rational maximizing models: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1989, 30, (1), 289-300

1988

61. Optimal Time-Consistent Fiscal Policy with Finite Lifetimes
    Econometrica, 1988, 56, (2), 411-32 View citations (51)
62. The advantage of tying one's hands: EMS discipline and Central Bank credibility: Francesco Giavazzi and Marco Pagano
    European Economic Review, 1988, 32, (5), 1077-1082 View citations (5)

1986

63. Capital controls, the dual exchange rate, and devaluation
    Journal of International Economics, 1986, 20, (1-2), 1-20 View citations (12)
    See also Working Paper (1986)
64. Capital mobility in the world economy: Theory and measurement
    Carnegie-Rochester Conference Series on Public Policy, 1986, 24, (1), 55-103 View citations (122)
    See also Working Paper (1986)
65. Rational and Self-fulfilling Balance-of-Payments Crises
    American Economic Review, 1986, 76, (1), 72-81 View citations (228)
    See also Working Paper (1986)
66. Ruling out divergent speculative bubbles
    Journal of Monetary Economics, 1986, 17, (3), 349-362 View citations (43)
67. Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments
    Canadian Journal of Economics, 1986, 19, (1), 1-22 View citations (33)
    See also Working Paper (1986)

1985

68. Floating Exchange Rates: Experience and Prospects
    Brookings Papers on Economic Activity, 1985, 16, (2), 369-464 View citations (44)
69. The Capital Inflows Problem Revisited: A Stylized Model of Southern Cone Disinflation
    Review of Economic Studies, 1985, 52, (4), 605-25 View citations (18)
    See also Working Paper (1985)

1984

70. Balance-of-Payments Crises and Devaluation
    Journal of Money, Credit and Banking, 1984, 16, (2), 208-17 View citations (17)
    See also Working Paper (1984)
71. Exchange Rate Dynamics with Sluggish Prices under Alternative Price-Adjustment Rules
    International Economic Review, 1984, 25, (1), 159-74 View citations (10)
    See also Working Paper (1984)
72. Multiple Stable Equilibria in an Optimizing Perfect-Foresight Model
    Econometrica, 1984, 52, (1), 223-28 View citations (8)

1983

73. Exchange rates, inflation, and the sterilization problem: Germany, 1975-1981
    European Economic Review, 1983, 21, (1-2), 161-189
    See also Working Paper (1983)
74. Intertemporal price speculation and the optimal current-account deficit
    Journal of International Money and Finance, 1983, 2, (2), 135-145 View citations (17)
    See also Working Paper (1983)
75. Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?
    Journal of Political Economy, 1983, 91, (4), 675-87 View citations (105)
    See also Working Paper (1983)
76. Two-step two-stage least squares estimation in models with rational expectations
    Journal of Econometrics, 1983, 21, (3), 333-355 View citations (49)
    See also Working Paper (1983)

1982

77. Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?
    The Quarterly Journal of Economics, 1982, 97, (2), 251-70 View citations (82)
    See also Working Paper (1981)
78. Can We Sterilize? Theory and Evidence
    American Economic Review, 1982, 72, (2), 45-50 View citations (9)
    See also Working Paper (1982)
79. Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight
    Econometrica, 1982, 50, (5), 1219-42
    See also Working Paper (1982)
80. The capitalization of income streams and the effects of open-market policy under fixed exchange rates
    Journal of Monetary Economics, 1982, 9, (1), 87-98 View citations (6)
    See also Working Paper (1982)

1981

81. A Note on Exchange-Rate Expectations and Nominal Interest Differentials: A Test of the Fisher Hypothesis
    Journal of Finance, 1981, 36, (3), 697-703 View citations (16)
82. Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations
    American Economic Review, 1981, 71, (2), 217-21 View citations (18)
    See also Working Paper (1980)
83. Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation
    Journal of Political Economy, 1981, 89, (6), 1142-61 View citations (67)
    See also Working Paper (1981)

1980

84. Imperfect asset substitutability and monetary policy under fixed exchange rates
    Journal of International Economics, 1980, 10, (2), 177-200 View citations (6)
    See also Working Paper (1980)
85. Intermediate imports, the terms of trade, and the dynamics of the exchange rate and current account
    Journal of International Economics, 1980, 10, (4), 461-480 View citations (5)
    See also Working Paper (1981)

Books

2005

1. Global Capital Markets
   Cambridge Books, Cambridge University Press
   Also in Cambridge Books, Cambridge University Press (2004) View citations (15)

1996

2. Foundations of International Macroeconomics, vol 1
   MIT Press Books, The MIT Press View citations (510)

1983

3. Financial Policies and the World Capital Market: The Problem of Latin American Countries
   NBER Books, National Bureau of Economic Research, Inc View citations (12)

Edited books

2004

1. Money, Capital Mobility, and Trade: Essays in Honor of Robert A. Mundell, vol 1
   MIT Press Books, The MIT Press

Chapters

2011

1. The International Monetary System: Living with Asymmetry
   A chapter in Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century, 2011 View citations (1)
   See also Working Paper (2011)

2007

2. The Unsustainable U.S. Current Account Position Revisited
   A chapter in G7 Current Account Imbalances: Sustainability and Adjustment, 2007, pp 339-376 View citations (25)
   See also Working Paper (2005)
   Journal Article in Proceedings (2005)

2003

3. Globalization and Capital Markets
   A chapter in Globalization in Historical Perspective, 2003, pp 121-188 View citations (15)
   See also Working Paper (2002)

2001

4. The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
   A chapter in NBER Macroeconomics Annual 2000, Volume 15, 2001, pp 339-412 View citations (68)
   See also Working Paper (2001)

1998

5. The Great Depression as a Watershed: International Capital Mobility over the Long Run
   A chapter in The Defining Moment: The Great Depression and the American Economy in the Twentieth Century, 1998, pp 353-402 View citations (26)
   See also Working Paper (1999)

1995

6. The intertemporal approach to the current account
   Chapter 34 in Handbook of International Economics, 1995, vol. 3, pp 1731-1799 View citations (134)
   See also Working Paper (1996)

1993

7. The Adjustment Mechanism
   A chapter in A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, 1993, pp 201-268 View citations (8)
   See also Working Paper (1993)

1990

8. The Effectiveness of Foreign-Exchange Intervention: Recent Experience, 1985- 1988
   A chapter in International Policy Coordination and Exchange Rate Fluctuations, 1990, pp 197-246

1986

9. Capital Flows, the Current Account, and the Real Exchange Rate: Some Consequences of Stabilization and Liberalization
   A chapter in Economic Adjustment and Exchange Rates in Developing Countries, 1986, pp 201-232

1985

10. Exchange-rate dynamics
    Chapter 18 in Handbook of International Economics, 1985, vol. 2, pp 917-977 View citations (15)
    See also Working Paper (1985)

1984

11. International Interest Rate and Price Level Linkages under Flexible Exchange Rates: A Review of Recent Evidence
    A chapter in Exchange Rate Theory and Practice, 1984, pp 121-152 View citations (89)
    See also Working Paper (1985)

1983

12. Capital Mobility and the Scope for Sterilization: Mexico in the 1970s
    A chapter in Financial Policies and the World Capital Market: The Problem of Latin American Countries, 1983, pp 245-276 View citations (3)
    See also Working Paper (1984)
13. Introduction to "Financial Policies and the World Capital Market: The Problem of Latin American Countries"
    A chapter in Financial Policies and the World Capital Market: The Problem of Latin American Countries, 1983, pp 1-4 View citations (2)