Details about Ricardo J Caballero

E-mail:
Homepage:	http://web.mit.edu/caball/www
Workplace:	Economics Department, Massachusetts Institute of Technology (MIT), (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC)

Access statistics for papers by Ricardo J Caballero.

Last updated 2022-12-06. Update your information in the RePEc Author Service.

Short-id: pca44

---

Jump to Journal Articles Books Chapters

Working Papers

2022

1. A Monetary Policy Asset Pricing Model
   NBER Working Papers, National Bureau of Economic Research, Inc
2. A Note on Temporary Supply Shocks with Aggregate Demand Inertia
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
   CESifo Working Paper Series, CESifo (2022) View citations (2)
3. Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect
   CESifo Working Paper Series, CESifo
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (2)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (2)

2020

4. A Model of Endogenous Risk Intolerance and LSAPs: Asset Prices and Aggregate Demand in a "Covid-19" Shock
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (8)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (11)
   See also Journal Article in Review of Financial Studies (2021)
5. Global Imbalances and Policy Wars at the Zero Lower Bound
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2015) View citations (27)
6. Monetary Policy with Opinionated Markets
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (1)

2019

7. A Model of Fickle Capital Flows and Retrenchment
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (24)
   See also Journal Article in Journal of Political Economy (2020)
8. A Risk-centric Model of Demand Recessions and Speculation
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (8)
   See also Journal Article in The Quarterly Journal of Economics (2020)
9. On the Global Impact of Risk-off Shocks and Policy-put Frameworks
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
   Also in BIS Working Papers, Bank for International Settlements (2019) View citations (4)
10. Prudential Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (8)

2018

11. A risk-centric model of demand recessions and macroprudential policy
    BIS Working Papers, Bank for International Settlements View citations (5)
12. Reach for Yield and Fickle Capital Flows
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article in AEA Papers and Proceedings (2018)

2017

13. Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models
    Working Papers, University of Chile, Department of Economics View citations (3)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (26)
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (2008) View citations (17)
    Working Papers, University of Chile, Department of Economics (2015) View citations (4)
14. Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (85)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2017) View citations (84)
    See also Journal Article in American Economic Review (2017)
15. Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns to Capital, Earnings Yields, and Factor Shares
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (85)
16. The safe assets shortage conundrum
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley View citations (122)
    See also Journal Article in Journal of Economic Perspectives (2017)

2016

17. Global Imbalances and Currency Wars at the ZLB
    Working Paper, Harvard University OpenScholar View citations (21)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2015) View citations (76)
18. Safe Asset Scarcity and Aggregate Demand
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (107)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (107)
    Working Paper, Harvard University OpenScholar View citations (83)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2016) View citations (92)
    See also Journal Article in American Economic Review (2016)

2015

19. The Safety Trap
    Working Paper, Harvard University OpenScholar View citations (31)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (63)
    Working Paper, Harvard University OpenScholar View citations (233)
    See also Journal Article in Review of Economic Studies (2018)

2013

20. A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
    Working Paper, Harvard University OpenScholar View citations (59)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (60)

2012

21. Carry Trade and Systemic Risk: Why are FX Options so Cheap?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2011

22. A Caricature (Model) of the World Economy
    Levine's Working Paper Archive, David K. Levine
    See also Chapter (2015)
23. Macroeconomic Volatility in Latin America: A View and Three Case Studies
    IDB Publications (Working Papers), Inter-American Development Bank View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (50)
    See also Journal Article in Estudios de Economia (2001)
24. Structural Volatility in Argentina: A Policy Report
    IDB Publications (Working Papers), Inter-American Development Bank View citations (1)
    Also in Research Department Publications, Inter-American Development Bank, Research Department (2000) View citations (7)
25. Structural Volatility in Chile: A Policy Report
    IDB Publications (Working Papers), Inter-American Development Bank View citations (2)
    Also in Research Department Publications, Inter-American Development Bank, Research Department (2000) View citations (7)

2010

26. Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University View citations (18)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (19)
    See also Journal Article in American Economic Journal: Macroeconomics (2013)
27. Effective Labor Regulation and Microeconomic Flexibility
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University View citations (27)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (87)
    Levine's Bibliography, UCLA Department of Economics (2007) View citations (21)
    Working Papers, Federal Reserve Bank of Boston (2004) View citations (59)
    Center Discussion Papers, Yale University, Economic Growth Center (2004) View citations (162)
    Working Papers, Economic Growth Center, Yale University (2004) View citations (71)
    See also Journal Article in Journal of Development Economics (2013)
28. Fire Sales in a Model of Complexity
    2010 Meeting Papers, Society for Economic Dynamics View citations (22)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (32)
    See also Journal Article in Journal of Finance (2013)
29. Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (205)
    See also Journal Article in Journal of Economic Perspectives (2010)
30. On the Role of Financial Frictions and the Saving Rate during Trade Liberalizations
    Scholarly Articles, Harvard University Department of Economics View citations (12)
    See also Journal Article in Journal of the European Economic Association (2010)
31. The "Other" Imbalance and the Financial Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)

2009

32. Complexity and Financial Panics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)
33. Global Imbalances and Financial Fragility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (173)
    See also Journal Article in American Economic Review (2009)

2008

34. An Equilibrium Model of "Global Imbalances" and Low Interest Rates
    Scholarly Articles, Harvard University Department of Economics View citations (612)
    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 (2006) View citations (108)
    NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (92)
    BIS Working Papers, Bank for International Settlements (2006) View citations (26)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2006) View citations (72)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (183)
    2006 Meeting Papers, Society for Economic Dynamics (2006) View citations (75)
    See also Journal Article in American Economic Review (2008)
35. Financial Crash, Commodity Prices and Global Imbalances
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (167)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (182)
    Working Paper, Harvard University OpenScholar View citations (6)
    Scholarly Articles, Harvard University Department of Economics (2008) View citations (171)
36. Future Rent-Seeking and Current Public Savings
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    See also Journal Article in Journal of International Economics (2010)
37. Inflating the Beast: Political Incentives Under Uncertainty
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

2007

38. Collective Risk Management in a Flight to Quality Episode
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Journal Article in Journal of Finance (2008)
39. Persistent Appreciations and Overshooting: A Normative Analysis
    2007 Meeting Papers, Society for Economic Dynamics View citations (22)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (25)
    See also Journal Article in IMF Economic Review (2014)
40. Price Stickiness in Ss Models: New Interpretations of Old Results
    Center Discussion Papers, Yale University, Economic Growth Center View citations (109)
    Also in Levine's Bibliography, UCLA Department of Economics (2007) View citations (116)
    2007 Meeting Papers, Society for Economic Dynamics (2007) View citations (110)
    Working Papers, Economic Growth Center, Yale University (2007) View citations (110)
    NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (117)
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (2007) View citations (93)
    See also Journal Article in Journal of Monetary Economics (2007)
41. Trade and Capital Flows: A Financial Frictions Perspective
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
    Also in Scholarly Articles, Harvard University Department of Economics (2007) View citations (22)
    See also Journal Article in Journal of Political Economy (2009)

2006

42. Financial Integration Without the Volatility
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (21)
43. Flight to Quality and Collective Risk Management
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
44. Lumpy Investment in Dynamic General Equilibrium
    2006 Meeting Papers, Society for Economic Dynamics View citations (19)
    Also in Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (2006) View citations (16)
45. On the Macroeconomics of Asset Shortages
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (140)
46. Zombie Lending and Depressed Restructuring in Japan
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
    See also Journal Article in American Economic Review (2008)

2005

47. A Quantitative Model of Sudden Stops and External Liquidity Management
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
48. Bubbles and Capital Flow Volatility: Causes and Risk Management
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article in Journal of Monetary Economics (2006)
49. Contingent Reserves Management: An Applied Framework
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (3)
    Also in Working Papers, Federal Reserve Bank of Boston (2004) View citations (21)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (31)
    See also Chapter (2006)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2005)
50. El temor a las paradas repentinas: enseñanzas de Australia y Chile
    Research Department Publications, Inter-American Development Bank, Research Department
51. Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
    MPRA Paper, University Library of Munich, Germany View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (14)
    See also Journal Article in International Journal of Central Banking (2005)
52. Fear of Sudden Stops: Lessons from Australia and Chile
    Research Department Publications, Inter-American Development Bank, Research Department View citations (28)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (47)
    RBA Research Discussion Papers, Reserve Bank of Australia (2004) View citations (44)
    Econometric Society 2004 Latin American Meetings, Econometric Society (2004) View citations (55)
53. Financial System Risk and Flight to Quality
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)

2004

54. Fiscal Policy and Financial Depth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (88)
55. Microeconomic Flexibility in Latin America
    Working Papers, Economic Growth Center, Yale University View citations (25)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (25)
    Center Discussion Papers, Yale University, Economic Growth Center (2004) View citations (23)
    See also Chapter (2005)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2004)
56. Speculative Growth: Hints from the US Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    See also Journal Article in American Economic Review (2006)
57. Three Strikes and You're Out: Reply to Cooper and Willis
    Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University View citations (4)
    Also in Center Discussion Papers, Yale University, Economic Growth Center (2004) View citations (3)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (5)
    Working Papers, Economic Growth Center, Yale University (2004) View citations (3)

2003

58. Adjustment Is Much Slower Than You Think
    Working Papers, Economic Growth Center, Yale University View citations (32)
    Also in Center Discussion Papers, Yale University, Economic Growth Center (2003) View citations (37)
59. Hedging Sudden Stops and Precautionary Contractions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)
    See also Journal Article in Journal of Development Economics (2008)
60. Inflation Targeting and Sudden Stops
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
    See also Chapter (2004)
61. On the International Financial Architecture: Insuring Emerging Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (26)
    See also Journal Article in Journal of Financial Transformation (2003)

2002

62. A Dual Liquidity Model for Emerging Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)
    See also Journal Article in American Economic Review (2002)
63. Coping with Chile’s External Vulnerability: A Financial Problem
    Working Papers Central Bank of Chile, Central Bank of Chile View citations (20)
    See also Chapter (2002)
    Journal Article in Journal Economía Chilena (The Chilean Economy) (2002)
64. Duality in Fractional Programming Involving Locally Arcwise Connected and Related Functions
    Documentos de Trabajo del ICAE, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico
65. Speculative Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)

2001

66. A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
67. Creative Destruction and Development: Institutions, Crises and Restructuring
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (73)
68. Institutions, Restructuring and Macroeconomic Performance
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (42)
    See also Chapter (2001)
69. International Liquidity Illusion: On the Risks of Sterilization
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
70. Smoothing Sudden Stops
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    See also Journal Article in Journal of Economic Theory (2004)
71. The Cost of Recessions Revisited: A Reverse-Liquidationist View
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1999) View citations (17)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (19)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (14)
    See also Journal Article in Review of Economic Studies (2005)

2000

72. Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
73. Inestabilidad estructural en Argentina: un informe de políticas
    Research Department Publications, Inter-American Development Bank, Research Department
74. Inestabilidad estructural en Chile: informe de políticas
    Research Department Publications, Inter-American Development Bank, Research Department
75. Inestabilidad estructural en México: informe de políticas
    Research Department Publications, Inter-American Development Bank, Research Department
76. International Liquidity Management: Sterilization Policy in Illiquid Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    Also in Econometric Society World Congress 2000 Contributed Papers, Econometric Society (2000) View citations (18)
77. International and Domestic Collateral Constraints in a Model of Emerging Market Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    See also Journal Article in Journal of Monetary Economics (2001)
78. Structural Volatility in Mexico: A Policy Report
    Research Department Publications, Inter-American Development Bank, Research Department View citations (4)

1999

79. Emerging Market Crises: An Asset Markets Perspective
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (30)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1998) View citations (69)
    IMF Working Papers, International Monetary Fund (1999) View citations (19)
    NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (59)

1998

80. Improper Churn: Social Costs and Macroeconomic Consequences
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (18)
81. Nonlinear Aggregate Investment Dynamics: Theory and Evidence
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (8)
    Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile (1998) View citations (7)

1997

82. Aggregaete Investment
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (155)
    See also Chapter (1999)
83. Jobless Growth: Appropriability, Factor Substitution, and Unemployment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1997) View citations (40)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1998)

1996

84. Aggregate Employment Dynamics: Building from Microeconomic Evidence
    Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (12)
    See also Journal Article in American Economic Review (1997)
85. Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach
    Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile View citations (48)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1994) View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations (53)
    See also Journal Article in Econometrica (1999)
86. Fixed Costs: The Demise of Marginal q
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (73)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (1996) View citations (69)
    NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (78)
87. The "Fundamental Transformation" in Macroeconomics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Journal Article in American Economic Review (1996)
88. The Macroeconomics of Specificity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Department of Economics (1996) View citations (9)
    See also Journal Article in Journal of Political Economy (1998)

1995

89. On the Ills of Adjustment
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (2)
    See also Journal Article in Journal of Development Economics (1996)

1994

90. On the Timing and Efficiency of Creative Destruction
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    See also Journal Article in The Quarterly Journal of Economics (1996)
91. On the Timing and Efficiency of Creative Distribution
    Working papers, Massachusetts Institute of Technology (MIT), Department of Economics

1993

92. Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article in Review of Economic Studies (1994)
93. How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (343)
    See also Chapter (1993)

1992

94. Microeconomic Adjustment Hazards and Aggregate Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article in The Quarterly Journal of Economics (1993)
95. Microeconomic Rigidities and Aggregate Price Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in European Economic Review (1993)
96. Near-Rationality, Heterogeneity and Aggregate Consumption
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article in Journal of Money, Credit and Banking (1995)
97. Price Rigidities, Asymmetries, and Output Fluctuations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (32)
98. Uncertainty, Investment, and Industry Evolution
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (77)
    Also in Working papers, Massachusetts Institute of Technology (MIT), Sloan School of Management (1992) View citations (39)
    See also Journal Article in International Economic Review (1996)

1991

99. A Fallacy of Composition
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article in American Economic Review (1992)
100. Durable Goods: An Explanation for Their Slow Adjustment
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
     See also Journal Article in Journal of Political Economy (1993)
101. Dynamic (S,s) Economies
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (57)
     See also Journal Article in Econometrica (1991)
102. External Effects in U.S. Procyclical Productivity
     Working Papers, Columbia - Graduate School of Business View citations (1)
     See also Journal Article in Journal of Monetary Economics (1992)
103. Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
     See also Journal Article in Review of Economic Studies (1993)
104. Irreversibility and Aggregate Investment
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
     See also Journal Article in Review of Economic Studies (1994)
105. Short and Long Run Externalities
     Working Papers, Columbia - Graduate School of Business View citations (15)
     Also in NBER Working Papers, National Bureau of Economic Research, Inc (1991) View citations (18)
106. Some Evidence of Productivity Linkages in Manufacturing
     Working Papers, Columbia - Graduate School of Business View citations (2)
107. Sourcing externalities
     Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (1)
108. Sustainable Intervention Policies and Exchange Rate Dynamics
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (11)
109. The Cleansing Effect of Recessions
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (38)
     See also Journal Article in American Economic Review (1994)

1990

110. Target Zones and Realignments
     CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
     See also Journal Article in American Economic Review (1992)

1989

111. How does uncertainty about the real exchange rate affect exports?
     Policy Research Working Paper Series, The World Bank View citations (14)
112. The Role of External Economies in U.S. Manufacturing
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (54)

Undated

113. Rents, Technical Change, and Risk Premia: Accounting for Secular Changes in Interest Rates, Returns to Capital, Earnings Yields, and Factor Shares
     Working Paper, Harvard University OpenScholar View citations (1)

Journal Articles

2022

1. Cancer Chemotherapy-Induced Sinus Bradycardia: A Narrative Review of a Forgotten Adverse Effect of Cardiotoxicity
   Drug Safety, 2022, 45, (2), 101-126

2021

2. A Model of Endogenous Risk Intolerance and LSAPs: Asset Prices and Aggregate Demand in a “COVID-19” Shock
   (Financial intermediaries and the cross-section of asset returns)
   Review of Financial Studies, 2021, 34, (11), 5522-5580 View citations (8)
   See also Working Paper (2020)

2020

3. A Model of Fickle Capital Flows and Retrenchment
   Journal of Political Economy, 2020, 128, (6), 2288 - 2328 View citations (17)
   See also Working Paper (2019)
4. A Risk-Centric Model of Demand Recessions and Speculation*
   The Quarterly Journal of Economics, 2020, 135, (3), 1493-1566 View citations (15)
   See also Working Paper (2019)

2018

5. Reach for Yield and Fickle Capital Flows
   AEA Papers and Proceedings, 2018, 108, 493-98 View citations (3)
   See also Working Paper (2018)
6. The Safety Trap
   Review of Economic Studies, 2018, 85, (1), 223-274 View citations (56)
   See also Working Paper (2015)

2017

7. Rents, Technical Change, and Risk Premia Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares
   American Economic Review, 2017, 107, (5), 614-20 View citations (88)
   See also Working Paper (2017)
8. The Safe Assets Shortage Conundrum
   Journal of Economic Perspectives, 2017, 31, (3), 29-46 View citations (144)
   See also Working Paper (2017)

2016

9. Safe Asset Scarcity and Aggregate Demand
   American Economic Review, 2016, 106, (5), 513-18 View citations (108)
   See also Working Paper (2016)

2014

10. Persistent Appreciations and Overshooting: A Normative Analysis
    IMF Economic Review, 2014, 62, (1), 1-47 View citations (31)
    See also Working Paper (2007)

2013

11. Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
    American Economic Journal: Macroeconomics, 2013, 5, (4), 29-67 View citations (81)
    See also Working Paper (2010)
12. Effective labor regulation and microeconomic flexibility
    Journal of Development Economics, 2013, 101, (C), 92-104 View citations (35)
    See also Working Paper (2010)
13. Fire Sales in a Model of Complexity
    Journal of Finance, 2013, 68, (6), 2549-2587 View citations (154)
    See also Working Paper (2010)

2011

14. A multiobjective model for forest planning with adjacency constraints
    Annals of Operations Research, 2011, 190, (1), 75-92 View citations (5)

2010

15. Future rent-seeking and current public savings
    Journal of International Economics, 2010, 82, (2), 124-136 View citations (46)
    See also Working Paper (2008)
16. Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome
    Journal of Economic Perspectives, 2010, 24, (4), 85-102 View citations (228)
    See also Working Paper (2010)
17. On the Role of Financial Frictions and the Saving Rate During Trade Liberalizations
    Journal of the European Economic Association, 2010, 8, (2-3), 442-455 View citations (12)
    See also Working Paper (2010)
18. Sudden Financial Arrest
    IMF Economic Review, 2010, 58, (1), 6-36 View citations (18)

2009

19. Crisis and Reform: Managing Systemic Risk
    Rivista di Politica Economica, 2009, 99, (4), 9-64
20. Global Imbalances and Financial Fragility
    American Economic Review, 2009, 99, (2), 584-88 View citations (169)
    See also Working Paper (2009)
21. Global imbalances and the financial crisis: products of common causes - commentary
    Proceedings, 2009, (Oct), 173-177 View citations (1)
22. The surprising origin and nature of financial crises: a macroeconomic policy proposal
    Proceedings - Economic Policy Symposium - Jackson Hole, 2009, 19-68 View citations (8)
23. Trade and Capital Flows: A Financial Frictions Perspective
    Journal of Political Economy, 2009, 117, (4), 701-744 View citations (186)
    See also Working Paper (2007)

2008

24. An Equilibrium Model of "Global Imbalances" and Low Interest Rates
    American Economic Review, 2008, 98, (1), 358-93 View citations (493)
    See also Working Paper (2008)
25. Collective Risk Management in a Flight to Quality Episode
    Journal of Finance, 2008, 63, (5), 2195-2230 View citations (374)
    See also Working Paper (2007)
26. Financial Crash, Commody Prices, and Global Inbalances
    Brookings Papers on Economic Activity, 2008, 39, (2 (Fall)), 1-68 View citations (66)
27. Hedging sudden stops and precautionary contractions
    Journal of Development Economics, 2008, 85, (1-2), 28-57 View citations (59)
    See also Working Paper (2003)
28. Musical chairs: a comment on the credit crisis
    Financial Stability Review, 2008, (11), 9-11 View citations (8)
29. Zombie Lending and Depressed Restructuring in Japan
    American Economic Review, 2008, 98, (5), 1943-77 View citations (751)
    See also Working Paper (2006)

2007

30. Price stickiness in Ss models: New interpretations of old results
    Journal of Monetary Economics, 2007, 54, (Supplement 1), 100-121 View citations (103)
    See also Working Paper (2007)

2006

31. Bubbles and capital flow volatility: Causes and risk management
    Journal of Monetary Economics, 2006, 53, (1), 35-53 View citations (206)
    See also Working Paper (2005)
32. Speculative Growth: Hints from the U.S. Economy
    American Economic Review, 2006, 96, (4), 1159-1192 View citations (91)
    See also Working Paper (2004)

2005

33. Commentary on \\"productivity and the post-1990 U.S. economy\\"
    Review, 2005, 87, (Jul), 551-554
34. Contingent Reserves Management: an Applied Framework
    Journal Economía Chilena (The Chilean Economy), 2005, 8, (2), 45-56 View citations (4)
    See also Chapter (2006)
    Working Paper (2005)
35. Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
    International Journal of Central Banking, 2005, 1, (1) View citations (24)
    See also Working Paper (2005)
36. The Cost of Recessions Revisited: A Reverse-Liquidationist View
    Review of Economic Studies, 2005, 72, (2), 313-341 View citations (91)
    See also Working Paper (2001)

2004

37. A Comment on the Economics of Labor Adjustment: Mind the Gap: Reply
    American Economic Review, 2004, 94, (4), 1238-1244 View citations (15)
38. Microeconomic Flexibility in Latin America
    Journal Economía Chilena (The Chilean Economy), 2004, 7, (2), 5-26 View citations (24)
    See also Working Paper (2004)
    Chapter (2005)
39. Smoothing sudden stops
    Journal of Economic Theory, 2004, 119, (1), 104-127 View citations (77)
    See also Working Paper (2001)

2003

40. Excessive Dollar Debt: Financial Development and Underinsurance
    Journal of Finance, 2003, 58, (2), 867-893 View citations (195)
41. On the international financial architecture: Insuring emerging markets
    Journal of Financial Transformation, 2003, 7, 8-12 View citations (22)
    See also Working Paper (2003)
42. The Future of the IMF
    American Economic Review, 2003, 93, (2), 31-38 View citations (29)

2002

43. A Dual Liquidity Model for Emerging Markets
    American Economic Review, 2002, 92, (2), 33-37 View citations (38)
    See also Working Paper (2002)
44. Analysis and comparisons of some solution concepts for stochastic programming problems
    TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, 2002, 10, (1), 101-123 View citations (3)
45. Coping With Chile’s External Vulnerability: A Financial Problem
    Journal Economía Chilena (The Chilean Economy), 2002, 5, (1), 11-36 View citations (14)
    See also Working Paper (2002)
    Chapter (2002)

2001

46. Efficient assignment of financial resources within a university system. Study of the University of Malaga
    European Journal of Operational Research, 2001, 133, (2), 298-309 View citations (8)
47. International and domestic collateral constraints in a model of emerging market crises
    Journal of Monetary Economics, 2001, 48, (3), 513-548 View citations (486)
    See also Working Paper (2000)
48. Macroeconomic volatility in Latin America: a view and three case studies
    Estudios de Economia, 2001, 28, (1 Year 2001), 5-52 View citations (11)
    See also Working Paper (2011)

2000

49. Macroeconomic Volatility in Latin America: A Conceptual Framework and Three Case Studies
    Economía Journal, 2000, Volume 1 Number 1, (Fall 2000), 31-107 View citations (41)

1999

50. Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach
    Econometrica, 1999, 67, (4), 783-826 View citations (260)
    See also Working Paper (1996)
51. The stochastic bottleneck linear programming problem
    TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, 1999, 7, (1), 123-143

1998

52. Jobless growth: appropriability, factor substitution, and unemployment
    Carnegie-Rochester Conference Series on Public Policy, 1998, 48, (1), 51-94 View citations (157)
    See also Working Paper (1997)
53. The Macroeconomics of Specificity
    Journal of Political Economy, 1998, 106, (4), 724-767 View citations (110)
    See also Working Paper (1996)

1997

54. Aggregate Employment Dynamics: Building from Microeconomic Evidence
    American Economic Review, 1997, 87, (1), 115-37 View citations (273)
    See also Working Paper (1996)

1996

55. On the Timing and Efficiency of Creative Destruction
    The Quarterly Journal of Economics, 1996, 111, (3), 805-852 View citations (326)
    See also Working Paper (1994)
56. On the ills of adjustment
    Journal of Development Economics, 1996, 51, (1), 161-192 View citations (31)
    See also Working Paper (1995)
57. The "Fundamental Transformation" in Macroeconomics
    American Economic Review, 1996, 86, (2), 181-86 View citations (21)
    See also Working Paper (1996)
58. Uncertainty, Investment, and Industry Evolution
    International Economic Review, 1996, 37, (3), 641-62 View citations (135)
    See also Working Paper (1992)

1995

59. Near-Rationality, Heterogeneity, and Aggregate Consumption
    Journal of Money, Credit and Banking, 1995, 27, (1), 29-48 View citations (51)
    See also Working Paper (1992)
60. Plant-Level Adjustment and Aggregate Investment Dynamics
    Brookings Papers on Economic Activity, 1995, 26, (2), 1-54 View citations (303)

1994

61. Cross-Sectional Efficiency and Labour Hoarding in a Matching Model of Unemployment
    Review of Economic Studies, 1994, 61, (3), 435-456 View citations (77)
    See also Working Paper (1993)
62. Customer- and Supplier-Driven Externalities
    American Economic Review, 1994, 84, (4), 1075-84 View citations (138)
63. Irreversibility and Aggregate Investment
    Review of Economic Studies, 1994, 61, (2), 223-246 View citations (282)
    See also Working Paper (1991)
64. Notes on the Theory and Evidence on Aggregate Purchases of Durable Goods
    Oxford Review of Economic Policy, 1994, 10, (2), 107-17 View citations (13)
65. Small Sample Bias and Adjustment Costs
    The Review of Economics and Statistics, 1994, 76, (1), 52-58 View citations (94)
66. The Cleansing Effect of Recessions
    American Economic Review, 1994, 84, (5), 1350-68 View citations (679)
    See also Working Paper (1991)

1993

67. Durable Goods: An Explanation for Their Slow Adjustment
    Journal of Political Economy, 1993, 101, (2), 351-84 View citations (79)
    See also Working Paper (1991)
68. Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
    Review of Economic Studies, 1993, 60, (1), 95-119 View citations (66)
    See also Working Paper (1991)
69. Microeconomic Adjustment Hazards and Aggregate Dynamics
    The Quarterly Journal of Economics, 1993, 108, (2), 359-383 View citations (173)
    See also Working Paper (1992)
70. Microeconomic rigidities and aggregate price dynamics
    European Economic Review, 1993, 37, (4), 697-711 View citations (80)
    See also Working Paper (1992)
71. Unemployment, consumption and growth: by Charles Bean and Chris Pissarides
    European Economic Review, 1993, 37, (4), 855-859 View citations (5)

1992

72. A Fallacy of Composition
    American Economic Review, 1992, 82, (5), 1279-92 View citations (67)
    See also Working Paper (1991)
73. Beyond the Partial-Adjustment Model
    American Economic Review, 1992, 82, (2), 360-64 View citations (16)
74. External effects in U.S. procyclical productivity
    Journal of Monetary Economics, 1992, 29, (2), 209-225 View citations (145)
    See also Working Paper (1991)
75. Target Zones and Realignments
    American Economic Review, 1992, 82, (3), 520-36 View citations (168)
    See also Working Paper (1990)

1991

76. Dynamic (S, s) Economies
    Econometrica, 1991, 59, (6), 1659-86 View citations (109)
    See also Working Paper (1991)
77. Earnings Uncertainty and Aggregate Wealth Accumulation
    American Economic Review, 1991, 81, (4), 859-71 View citations (175)
78. On the Sign of the Investment-Uncertainty Relationship
    American Economic Review, 1991, 81, (1), 279-88 View citations (278)

1990

79. Consumption puzzles and precautionary savings
    Journal of Monetary Economics, 1990, 25, (1), 113-136 View citations (345)
80. Expenditure on Durable Goods: A Case for Slow Adjustment
    The Quarterly Journal of Economics, 1990, 105, (3), 727-743 View citations (37)
81. Internal versus external economies in European industry
    European Economic Review, 1990, 34, (4), 805-826 View citations (113)

1986

82. Análisis de la Balanza Comercial: Un Enfoque de Equilibrio General
    Latin American Journal of Economics-formerly Cuadernos de Economía, 1986, 23, (70), 285-314 View citations (1)

Books

2007

1. Specificity and the Macroeconomics of Restructuring, vol 1
   MIT Press Books, The MIT Press View citations (67)

Chapters

2019

1. The global impact of risk-off shocks
   A chapter in Asia-Pacific fixed income markets: evolving structure, participation and pricing, 2019, vol. 102, pp 17-23 View citations (8)

2017

2. Wrap-up Panel Discussion
   A chapter in Monetary Policy and Financial Stability in a World of Low Interest Rates, 2017

2015

3. A Caricature (Model) of the World Economy
   Chapter 05 in Economic Policies in Emerging-Market Economies Festschrift in Honor of Vittorio Corbo, 2015, vol. 21, pp 061-077
   See also Working Paper (2011)
4. Economic policies in emerging-market economies: an overview
   Chapter 01 in Economic Policies in Emerging-Market Economies Festschrift in Honor of Vittorio Corbo, 2015, vol. 21, pp 001-006 View citations (1)

2012

5. Notes on Capital-Account Management
   Chapter 13 in In the Wake of the Crisis: Leading Economists Reassess Economic Policy, 2012, vol. 1, pp 111-123 View citations (1)

2008

6. Comment on "Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data?"
   A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 279-286 View citations (2)

2006

7. Contingent Reserves Management: An Applied Framework
   Chapter 12 in External Vulnerability and Preventive Policies, 2006, vol. 10, pp 399-420 View citations (6)
   See also Working Paper (2005)
   Journal Article in Journal Economía Chilena (The Chilean Economy) (2005)
8. External Vulnerability and Preventive Policies: An Overview
   Chapter 1 in External Vulnerability and Preventive Policies, 2006, vol. 10, pp 001-014 View citations (3)

2005

9. Microeconomic Flexibility in Latin America
   Chapter 10 in Labor Markets and Institutions, 2005, vol. 8, pp 329-366 View citations (6)
   See also Journal Article in Journal Economía Chilena (The Chilean Economy) (2004)
   Working Paper (2004)

2004

10. Inflation Targeting and Sudden Stops
    A chapter in The Inflation-Targeting Debate, 2004, pp 423-442 View citations (11)
    See also Working Paper (2003)

2002

11. Coping with Chile´s External Vulnerability: a Financial Problem
    Chapter 12 in Economic Growth: Sources, Trends, and Cycles, 2002, vol. 6, pp 377-416 View citations (14)
    See also Journal Article in Journal Economía Chilena (The Chilean Economy) (2002)
    Working Paper (2002)

2001

12. Institutions, Restructuring and Macroeconomic Performance
    Palgrave Macmillan View citations (10)
    See also Working Paper (2001)

1999

13. Aggregate investment
    Chapter 12 in Handbook of Macroeconomics, 1999, vol. 1, Part B, pp 813-862 View citations (139)
    See also Working Paper (1997)

1993

14. How High Are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth
    A chapter in NBER Macroeconomics Annual 1993, Volume 8, 1993, pp 15-86 View citations (354)
    See also Working Paper (1993)

1990

15. Kinked Adjustment Costs and Aggregate Dynamics
    A chapter in NBER Macroeconomics Annual 1990, Volume 5, 1990, pp 237-296 View citations (146)