Details about Guillermo Calvo
Access statistics for papers by Guillermo Calvo.
Last updated 2023-10-07. Update your information in the RePEc Author Service.
Short-id: pca694
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Working Papers
2024
- A Proposal for the IMF: A New Instrument of International Liquidity Provision for Emerging Markets and Developing Economies
Policy Papers, Center for Global Development
2022
- Joined at the Hip: Monetary and Fiscal Policy in a Liquidity-Dependent World
NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
2019
- Liquidity Deflation and Liquidity Trap under Flexible Prices: Some Microfoundations and Implications
NBER Working Papers, National Bureau of Economic Research, Inc
2016
- From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since WWII
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
2014
- Calvo, Guillermo, Fabrizio Coricelli and Pablo Ottonello, 2013. "Jobless Recoveries During Financial Crises: Is Inflation the Way Out?," NBER Working Papers 19683, National Bureau of Economic Research, Inc
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL View citations (2)
Also in Working Papers, HAL (2014)
- Jobless Recoveries during Financial Crises: Is Inflation the Way Out?
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL View citations (1)
Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2013) View citations (8) Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2013) View citations (11) Post-Print, HAL (2013) View citations (10) Working Papers Central Bank of Chile, Central Bank of Chile (2013) View citations (12) Post-Print, HAL (2014) View citations (1) NBER Working Papers, National Bureau of Economic Research, Inc (2013) View citations (12) PSE-Ecole d'économie de Paris (Postprint), HAL (2014) View citations (1)
See also Chapter Jobless Recoveries during Financial Crises: Is Inflation the Way Out?, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2014) View citations (2) (2014)
2013
- Puzzling over the Anatomy of Crises: Liquidity and the Veil of Finance
IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (30)
2012
- Labor Market, Financial Crises and Inflation: Jobless and Wageless Recoveries
NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
- Optimal Holdings of International Reserves: Self-Insurance against Sudden Stop
NBER Working Papers, National Bureau of Economic Research, Inc View citations (57)
See also Journal Article Optimal Holdings of International Reserves: Self-insurance against Sudden Stops, Monetaria, CEMLA (2013) (2013)
- The Labor Market Consequences of Financial Crises With or Without Inflation: Jobless and Wageless Recoveries
CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (43)
- The Price Theory of Money, Prospero's Liquidity Trap, and Sudden Stop: Back to Basics and Back
NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
2009
- FINANCIAL CRISES AND LIQUIDITY SHOCKS: A Bank-Run Perspective
NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
See also Journal Article Financial crises and liquidity shocks a bank-run perspective, European Economic Review, Elsevier (2012) View citations (22) (2012)
2008
- Las Interrupciones Súbitas Sistémicas: Importancia de los Efectos del Balance General y la Integración Financiera
Research Department Publications, Inter-American Development Bank, Research Department
- Systemic Sudden Stops: The Relevance Of Balance-Sheet Effects And Financial Integration
NBER Working Papers, National Bureau of Economic Research, Inc View citations (214)
Also in IDB Publications (Working Papers), Inter-American Development Bank (2008) View citations (51) Research Department Publications, Inter-American Development Bank, Research Department (2008) View citations (205)
2007
- Crises in Emerging Market Economies: A Global Perspective
Working Papers Central Bank of Chile, Central Bank of Chile View citations (15)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (46)
See also Chapter Crises in Emerging Markets Economies: A Global Perspective, Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile (2008) View citations (1) (2008)
- Interest Rate Rules, Inflation Stabilization, and Imperfect Credibility: The Small Open Economy Case
NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
- Trade Openness and Monetary Policy Rules
2007 Meeting Papers, Society for Economic Dynamics
2006
- Monetary Policy Challenges in Emerging Markets: Sudden Stop, Liability Dollarization, and Lender of Last Resort
IDB Publications (Working Papers), Inter-American Development Bank View citations (12)
Also in Research Department Publications, Inter-American Development Bank, Research Department (2006) View citations (74) NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (76)
- Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises
NBER Working Papers, National Bureau of Economic Research, Inc View citations (198)
Also in Research Department Publications, Inter-American Development Bank, Research Department (2006) View citations (190) BIS Working Papers, Bank for International Settlements (2006) View citations (203)
2005
- Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects
NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
See also Journal Article Relative price volatility under Sudden Stops: The relevance of balance sheet effects, Journal of International Economics, Elsevier (2006) View citations (80) (2006)
- Sudden Stop, Financial Factors and Economic Collpase in Latin America: Learning from Argentina and Chile
NBER Working Papers, National Bureau of Economic Research, Inc View citations (121)
2004
- El aspecto empírico de las paradas repentinas: la importancia de sus efectos en el balance general
Research Department Publications, Inter-American Development Bank, Research Department
- On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects
IDB Publications (Working Papers), Inter-American Development Bank View citations (131)
Also in Research Department Publications, Inter-American Development Bank, Research Department (2004) View citations (486) NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (536)
See also Journal Article On the empirics of Sudden Stops: the relevance of balance-sheet effects, Proceedings, Federal Reserve Bank of San Francisco (2004) View citations (360) (2004)
2003
- Explaining Sudden Stops, Growth Collapse and BOP Crises: The Case of Distortionary Output Taxes
NBER Working Papers, National Bureau of Economic Research, Inc View citations (68)
- Inflation Inertia and Credible Disinflation - The Open Economy Case
NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
- Sudden Stops, the Real Exchange Rate and Fiscal Sustainability: Argentina's Lessons
IDB Publications (Working Papers), Inter-American Development Bank View citations (16)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (173) Research Department Publications, Inter-American Development Bank, Research Department (2002) View citations (72)
- The Mirage of Exchange Rate Regimes for Emerging Market Countries
NBER Working Papers, National Bureau of Economic Research, Inc View citations (218)
See also Journal Article The Mirage of Exchange Rate Regimes for Emerging Market Countries, Journal of Economic Perspectives, American Economic Association (2003) View citations (236) (2003)
2002
- Fear of floating
MPRA Paper, University Library of Munich, Germany View citations (1504)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (398)
See also Journal Article Fear of Floating, The Quarterly Journal of Economics, President and Fellows of Harvard College (2002) View citations (1907) (2002)
- Nominal Exchange Rate Anchoring Under Inflation Inertia
IMF Working Papers, International Monetary Fund View citations (10)
- Paradas repentinas, tipo de cambio real y viabilidad fiscal: enseñanzas de Argentina
Research Department Publications, Inter-American Development Bank, Research Department
2001
- Crecimiento y financiamiento externo en América Latina
Research Department Publications, Inter-American Development Bank, Research Department 
Also in Research Department Publications, Inter-American Development Bank, Research Department (2001) View citations (5) MPRA Paper, University Library of Munich, Germany (2001) View citations (6)
- El ciclo de crecimiento de la tasa de interés en Estados Unidos y sus consecuencias para los mercados emergentes
Research Department Publications, Inter-American Development Bank, Research Department 
Also in IDB Publications (Working Papers), Inter-American Development Bank (2001) View citations (5) MPRA Paper, University Library of Munich, Germany (2001) View citations (20) Research Department Publications, Inter-American Development Bank, Research Department (2001) View citations (23)
- Fixing for your life
MPRA Paper, University Library of Munich, Germany View citations (50)
Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (228)
- Growth and External Financing in Latin America
IDB Publications (Working Papers), Inter-American Development Bank View citations (3)
- Reflections on Dollarization
MPRA Paper, University Library of Munich, Germany View citations (30)
Also in MPRA Paper, University Library of Munich, Germany (1999) View citations (2) MPRA Paper, University Library of Munich, Germany (1999) View citations (71)
2000
- Política Económica en Aguas Borrascosas
CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA
- When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options
MPRA Paper, University Library of Munich, Germany View citations (472)
1999
- Inflation Stabilization and BOP Crises in Developing Countries
NBER Working Papers, National Bureau of Economic Research, Inc View citations (176)
See also Chapter Inflation stabilization and bop crises in developing countries, Handbook of Macroeconomics, Elsevier (1999) View citations (168) (1999)
- Regional Contagion and the Globalization of Securities Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
See also Journal Article Rational contagion and the globalization of securities markets, Journal of International Economics, Elsevier (2000) View citations (477) (2000)
- The Consequences and Management of Capital Inflows: Lessons for Sub-Saharan Africa
MPRA Paper, University Library of Munich, Germany View citations (15)
1998
- Empirical Puzzles of Chilean Stabilization Policy
Working Papers, Duke University, Department of Economics View citations (22)
1997
- Rational Herd Behavior and the Globalization of Securities Markets
Working Papers, Duke University, Department of Economics View citations (54)
Also in Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1997) View citations (76)
- Uncertain Duration of Reform: Dynamic Implications
NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)
1996
- Capital flows and macroeconomic management: tequila lessons
Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco View citations (73)
See also Journal Article Capital Flows and Macroeconomic Management: Tequila Lessons, International Journal of Finance & Economics, John Wiley & Sons, Ltd. (1996) View citations (77) (1996)
- Inflows of capital to developing countries in the 1990s
MPRA Paper, University Library of Munich, Germany View citations (480)
Also in Research Department Publications, Inter-American Development Bank, Research Department (1994)  Research Department Publications, Inter-American Development Bank, Research Department (1994) View citations (6) IDB Publications (Working Papers), Inter-American Development Bank (1994) View citations (1)
See also Journal Article Inflows of Capital to Developing Countries in the 1990s, Journal of Economic Perspectives, American Economic Association (1996) View citations (579) (1996)
- Mexico's balance-of-payments crisis: a chronicle of death foretold
International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (229)
See also Journal Article Mexico's balance-of-payments crisis: a chronicle of a death foretold, Journal of International Economics, Elsevier (1996) View citations (218) (1996)
1995
- Capital Flows in Central and Eastern Europe: Evidence and Policy Options
IMF Working Papers, International Monetary Fund View citations (24)
- Capital inflows to Latin America with reference to the Asian experience
MPRA Paper, University Library of Munich, Germany View citations (29)
Also in MPRA Paper, University Library of Munich, Germany (1992) View citations (96)
- Variedades de crisis del mercado de capitales
Research Department Publications, Inter-American Development Bank, Research Department
- Varieties of Capital-Market Crises
Research Department Publications, Inter-American Development Bank, Research Department View citations (90)
Also in IDB Publications (Working Papers), Inter-American Development Bank (1995) View citations (25)
See also Chapter Varieties of Capital-Market Crises, International Economic Association Series, Palgrave Macmillan (1998) View citations (58) (1998)
1994
- Capital Inflows to Latin America: The 1970s and 1990s
MPRA Paper, University Library of Munich, Germany View citations (26)
Also in IMF Working Papers, International Monetary Fund (1992) View citations (28)
See also Chapter Capital Inflows to Latin America: The 1970s and 1990s, International Economic Association Series, Palgrave Macmillan (1994) View citations (7) (1994)
- La tasa de cambio real como meta de política: teoría y evidencia
(Targeting the real exchange rate: Theory and evidence)
MPRA Paper, University Library of Munich, Germany View citations (7)
See also Journal Article La tasa de cambio real como meta de política: teoría y evidencia, Revista ESPE - Ensayos sobre Política Económica, Banco de la Republica de Colombia (1994) View citations (2) (1994)
- Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies
IMF Working Papers, International Monetary Fund View citations (16)
See also Journal Article Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies, IMF Staff Papers, Palgrave Macmillan (1994) View citations (16) (1994)
- Targeting the Real Exchange Rate: Theory and Evidence
IMF Working Papers, International Monetary Fund View citations (26)
Also in MPRA Paper, University Library of Munich, Germany (1994) View citations (23)
See also Journal Article Targeting the real exchange rate: theory and evidence, Journal of Development Economics, Elsevier (1995) View citations (141) (1995)
- Targeting the real exchange rate
MPRA Paper, University Library of Munich, Germany View citations (22)
See also Journal Article Targeting the real exchange rate: theory and evidence, Journal of Development Economics, Elsevier (1995) View citations (141) (1995)
- The capital inflows problem: Concepts and issues
MPRA Paper, University Library of Munich, Germany View citations (157)
Also in MPRA Paper, University Library of Munich, Germany (1993)  IMF Policy Discussion Papers, International Monetary Fund (1993) View citations (24)
See also Journal Article THE CAPITAL INFLOWS PROBLEM: CONCEPTS AND ISSUES, Contemporary Economic Policy, Western Economic Association International (1994) View citations (170) (1994)
- Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation
IMF Working Papers, International Monetary Fund View citations (15)
See also Journal Article Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation, IMF Staff Papers, Palgrave Macmillan (1994) View citations (15) (1994)
1993
- Af1uencia de capital y apreciacion del tipo de cambio real en America Latina: E1 papel de los factores externos
(Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors)
MPRA Paper, University Library of Munich, Germany View citations (5)
Also in MPRA Paper, University Library of Munich, Germany (1993) View citations (802)
See also Journal Article Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors, IMF Staff Papers, Palgrave Macmillan (1993) View citations (1049) (1993)
- Eastern Europe in Transition: From Rcession to Growth? Proceedings of a Conference on the Macroeconomic Aspects of Adjustment Copsponsored by the International Monetary Fund and the World Bank
World Bank - Discussion Papers, World Bank View citations (1)
- Financial Sector Reforms and Exchange Arrangements in Eastern Europe
IMF Occasional Papers, International Monetary Fund View citations (15)
- Formulating a policy response: Reply to Snowden
MPRA Paper, University Library of Munich, Germany View citations (1)
See also Journal Article Formulating a Policy Response: Reply to Snowden, IMF Staff Papers, Palgrave Macmillan (1993) View citations (2) (1993)
- Inflation Stabilization and Nominal Anchors
IMF Policy Discussion Papers, International Monetary Fund View citations (2)
See also Journal Article INFLATION STABILIZATION AND NOMINAL ANCHORS, Contemporary Economic Policy, Western Economic Association International (1994) View citations (71) (1994)
- Stabilization Dynamics and Backward-Looking Contracts
IMF Working Papers, International Monetary Fund View citations (5)
See also Journal Article Stabilization dynamics and backward-looking contracts, Journal of Development Economics, Elsevier (1994) View citations (42) (1994)
1992
- Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors
IMF Working Papers, International Monetary Fund View citations (132)
See also Journal Article Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors, IMF Staff Papers, Palgrave Macmillan (1993) View citations (1049) (1993)
- Currency Substitution in Developing Countries: An Introduction
IMF Working Papers, International Monetary Fund View citations (155)
Also in MPRA Paper, University Library of Munich, Germany (1992) View citations (151)
- Output Collapse in Eastern Europe: The Role of Credit
IMF Working Papers, International Monetary Fund View citations (39)
See also Journal Article Output Collapse in Eastern Europe: The Role of Credit, IMF Staff Papers, Palgrave Macmillan (1993) View citations (53) (1993)
1991
- Exchange rate stabilization under imperfect credibility
MPRA Paper, University Library of Munich, Germany View citations (17)
- Exchange-Rate-Based Stabilization under Imperfect Credibility
IMF Working Papers, International Monetary Fund View citations (40)
See also Chapter Exchange-Rate Based Stabilisation under Imperfect Credibility, International Economic Association Series, Palgrave Macmillan (1993) View citations (37) (1993)
- From Centrally-Planned to Market Economies: The Road from CPE to PCPE
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
Also in IMF Working Papers, International Monetary Fund (1991) View citations (13)
- Obstacles to Transforming Centrally-Planned Economies: The Role of Capital Markets
NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
Also in IMF Working Papers, International Monetary Fund (1991) View citations (4)
- Speculative Attacks
IMF Working Papers, International Monetary Fund View citations (11)
1990
- Credibility and the Dynamics of Stabilization Policy: A Basic Framework
IMF Working Papers, International Monetary Fund View citations (25)
- Interest Rate Targeting in a Small Open Economy: The Predetermined Exchange Rates Case
IMF Working Papers, International Monetary Fund View citations (11)
- Management of the Nominal Public Debt Theory and Applications
IMF Working Papers, International Monetary Fund View citations (7)
- Money Supply and Interest Rate Policy in a New-Keynesian Framework
IMF Working Papers, International Monetary Fund View citations (2)
- Optimal Maturity of Nominal Government Debt: The First Tests
Foerder Institute for Economic Research Working Papers, Tel-Aviv University > Foerder Institute for Economic Research 
See also Journal Article Optimal maturity of nominal government debt: The first tests, Economics Letters, Elsevier (1991) View citations (1) (1991)
1985
- Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes
NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
1981
- Reflexiones Teóricas sobre el Problema de Estabilización en Argentina
CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA
1980
- Apertura Financiera, Paridad Móvil y Tipo de Cambio Real
CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA
- Capitalización de las Reservas y Tipo Real de Cambio
CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA 
See also Journal Article Capitalización de las Reservas y Tipo Real de Cambio, Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile. (1981) (1981)
- Devaluación: Niveles Vs. Tasas
CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA
Journal Articles
2015
- The Liquidity Approach to Bubbles, Crises, Jobless Recoveries, and Involuntary Unemployment
Journal Economía Chilena (The Chilean Economy), 2015, 18, (3), 04-27 View citations (1)
See also Chapter The Liquidity Approach to Bubbles, Crises, Jobless Recoveries, and Involuntary Unemployment, Central Banking, Analysis, and Economic Policies Book Series, 2015, 21, 079-108 (2015) View citations (1) (2015)
2013
- Optimal Holdings of International Reserves: Self-insurance against Sudden Stops
Monetaria, 2013, XXXV, (1), 1-35 
See also Working Paper Optimal Holdings of International Reserves: Self-Insurance against Sudden Stop, NBER Working Papers (2012) View citations (57) (2012)
- Tenencias óptimas de reservas internacionales: autoaseguramiento contra interrupciones súbitas de flujos de capital
Monetaria, 2013, XXXV, (1), 1-39
- The Mayekawa Lecture: Puzzling over the Anatomy of Crises- Liquidity and the Veil of Finance
Monetary and Economic Studies, 2013, 31, 39-64 View citations (24)
2012
- Financial crises and liquidity shocks a bank-run perspective
European Economic Review, 2012, 56, (3), 317-326 View citations (22)
See also Working Paper FINANCIAL CRISES AND LIQUIDITY SHOCKS: A Bank-Run Perspective, NBER Working Papers (2009) View citations (22) (2009)
2011
- Leonardo "Pepe" Auernheimer
Journal of Applied Economics, 2011, 14, I-III 
Also in Journal of Applied Economics, 2011, 14, (1), I-III (2011)
2010
- Análisis comparado sobre la crisis y los rescates financieros de México (1995) y los Estados Unidos (2008)
El Trimestre Económico, 2010, LXXVII (4), (308), 773-828
2007
- Inflation inertia and credible disinflation
Journal of International Economics, 2007, 73, (1), 48-68 View citations (10)
2006
- Relative price volatility under Sudden Stops: The relevance of balance sheet effects
Journal of International Economics, 2006, 69, (1), 231-254 View citations (80)
See also Working Paper Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects, NBER Working Papers (2005) View citations (27) (2005)
- Sudden Stops and Phoenix Miracles in Emerging Markets
American Economic Review, 2006, 96, (2), 405-410 View citations (145)
- The resolution of global imbalances: Soft landing in the North, sudden stop in emerging markets?
Journal of Policy Modeling, 2006, 28, (6), 605-613 View citations (17)
2004
- On the empirics of Sudden Stops: the relevance of balance-sheet effects
Proceedings, 2004, (Jun) View citations (360)
See also Working Paper On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects, IDB Publications (Working Papers) (2004) View citations (131) (2004)
2003
- The Mirage of Exchange Rate Regimes for Emerging Market Countries
Journal of Economic Perspectives, 2003, 17, (4), 99-118 View citations (236)
See also Working Paper The Mirage of Exchange Rate Regimes for Emerging Market Countries, NBER Working Papers (2003) View citations (218) (2003)
2002
- Fear of Floating
The Quarterly Journal of Economics, 2002, 117, (2), 379-408 View citations (1907)
See also Working Paper Fear of floating, MPRA Paper (2002) View citations (1504) (2002)
- Globalization Hazard and Delayed Reform in Emerging Markets
Economía Journal, 2002, Volume 2 Number 2, (Spring 2002), 1-31 View citations (42)
- On dollarization
The Economics of Transition, 2002, 10, (2), 393-403
2001
- Capital Flow Volatility: Issues and Policies
Journal of African Economies, 2001, 10, (suppl_1), 16-35 View citations (2)
- Capital Markets and the Exchange Rate with Special Reference to the Dollarization Debate in Latin America
Journal of Money, Credit and Banking, 2001, 33, (2), 312-34 View citations (90)
Also in Proceedings, 2001, 312-338 (2001) View citations (94)
- Economic Policy in Stormy Waters: Financial Vulnerability in Emerging Economies
Journal of Applied Economics, 2001, 4, (1), 1-25 View citations (3)
Also in Journal of Applied Economics, 2001, 4, 1-25 (2001) View citations (3)
2000
- Betting against the state socially costly financial engineering
Journal of International Economics, 2000, 51, (1), 5-19 View citations (8)
- Capital-Markets Crises and Economic Collapse in Emerging Markets: An Informational-Frictions Approach
American Economic Review, 2000, 90, (2), 59-64 View citations (98)
- Rational contagion and the globalization of securities markets
Journal of International Economics, 2000, 51, (1), 79-113 View citations (477)
See also Working Paper Regional Contagion and the Globalization of Securities Markets, NBER Working Papers (1999) View citations (17) (1999)
1999
- Globalización y régimen cambiario: ¿tiene sentido dolarizar?
Revista Desarrollo y Sociedad, 1999
1998
- CAPITAL FLOWS AND CAPITAL-MARKET CRISES: The Simple Economics of Sudden Stops
Journal of Applied Economics, 1998, 1, (1), 35-54 View citations (910)
Also in Journal of Applied Economics, 1998, 1, 35-54 (1998) View citations (939)
- UNCERTAIN DURATION OF REFORM
Macroeconomic Dynamics, 1998, 2, (4), 443-455 View citations (43)
1996
- Capital Flows and Macroeconomic Management: Tequila Lessons
International Journal of Finance & Economics, 1996, 1, (3), 207-23 View citations (77)
See also Working Paper Capital flows and macroeconomic management: tequila lessons, Working Papers in Applied Economic Theory (1996) View citations (73) (1996)
- Disinflation and Interest-Bearing Money
Economic Journal, 1996, 106, (439), 1546-63 View citations (6)
- Inflows of Capital to Developing Countries in the 1990s
Journal of Economic Perspectives, 1996, 10, (2), 123-139 View citations (579)
See also Working Paper Inflows of capital to developing countries in the 1990s, MPRA Paper (1996) View citations (480) (1996)
- Mexico's balance-of-payments crisis: a chronicle of a death foretold
Journal of International Economics, 1996, 41, (3-4), 235-264 View citations (218)
See also Working Paper Mexico's balance-of-payments crisis: a chronicle of death foretold, International Finance Discussion Papers (1996) View citations (229) (1996)
- Monetary policy and interenterprise arrears in post-communist economies: Theory and evidence
Journal of Economic Policy Reform, 1996, 1, (1), 3-24 View citations (2)
- Petty Crime and Cruel Punishment: Lessons from the Mexican Debacle
American Economic Review, 1996, 86, (2), 170-75 View citations (48)
1995
- Fighting Inflation with High Interest Rates: The Small Open Economy Case under Flexible Prices
Journal of Money, Credit and Banking, 1995, 27, (1), 49-66 View citations (45)
- Targeting the real exchange rate: theory and evidence
Journal of Development Economics, 1995, 47, (1), 97-133 View citations (141)
See also Working Paper Targeting the real exchange rate, MPRA Paper (1994) View citations (22) (1994) Working Paper Targeting the Real Exchange Rate: Theory and Evidence, IMF Working Papers (1994) View citations (26) (1994)
1994
- INFLATION STABILIZATION AND NOMINAL ANCHORS
Contemporary Economic Policy, 1994, 12, (2), 35-45 View citations (71)
See also Working Paper Inflation Stabilization and Nominal Anchors, IMF Policy Discussion Papers (1993) View citations (2) (1993)
- La tasa de cambio real como meta de política: teoría y evidencia
Revista ESPE - Ensayos sobre Política Económica, 1994, 13, (25), 7-50 View citations (2)
Also in Revista ESPE - Ensayos Sobre Política Económica, 1994, 13, (25), 7-50 (1994) View citations (7)
See also Working Paper La tasa de cambio real como meta de política: teoría y evidencia, MPRA Paper (1994) View citations (7) (1994)
- Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies
IMF Staff Papers, 1994, 41, (2), 314-349 View citations (16)
See also Working Paper Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies, IMF Working Papers (1994) View citations (16) (1994)
- Stabilization dynamics and backward-looking contracts
Journal of Development Economics, 1994, 43, (1), 59-84 View citations (42)
See also Working Paper Stabilization Dynamics and Backward-Looking Contracts, IMF Working Papers (1993) View citations (5) (1993)
- THE CAPITAL INFLOWS PROBLEM: CONCEPTS AND ISSUES
Contemporary Economic Policy, 1994, 12, (3), 54-66 View citations (170)
See also Working Paper The capital inflows problem: Concepts and issues, MPRA Paper (1994) View citations (157) (1994)
- Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation
IMF Staff Papers, 1994, 41, (4), 555-586 View citations (15)
See also Working Paper Trade Reforms of Uncertain Duration and Real Uncertainty: A First Approximation, IMF Working Papers (1994) View citations (15) (1994)
1993
- Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors
IMF Staff Papers, 1993, 40, (1), 108-151 View citations (1049)
See also Working Paper Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors, IMF Working Papers (1992) View citations (132) (1992) Working Paper Af1uencia de capital y apreciacion del tipo de cambio real en America Latina: E1 papel de los factores externos, MPRA Paper (1993) View citations (5) (1993)
- Formulating a Policy Response: Reply to Snowden
IMF Staff Papers, 1993, 40, (4), 868-870 View citations (2)
See also Working Paper Formulating a policy response: Reply to Snowden, MPRA Paper (1993) View citations (1) (1993)
- On the Flexibility of Monetary Policy: The Case of the Optimal Inflation Tax
The Review of Economic Studies, 1993, 60, (3), 667-687 View citations (57)
- Output Collapse in Eastern Europe: The Role of Credit
IMF Staff Papers, 1993, 40, (1), 32-52 View citations (53)
See also Working Paper Output Collapse in Eastern Europe: The Role of Credit, IMF Working Papers (1992) View citations (39) (1992)
1992
- Are High Interest Rates Effective for Stopping High Inflation? Some Skeptical Notes
The World Bank Economic Review, 1992, 6, (1), 55-69 View citations (8)
- Optimal Inflation Tax under Precommitment: Theory and Evidence
American Economic Review, 1992, 82, (1), 179-94 View citations (29)
- Optimal Maturity of Nominal Government Debt: An Infinite-Horizon Model
International Economic Review, 1992, 33, (4), 895-919 View citations (37)
- Stagflationary Effects of Stabilization Programs in Reforming Socialist Countries: Enterprise-Side and Household-Side Factors
The World Bank Economic Review, 1992, 6, (1), 71-90 View citations (36)
1991
- Credit Markets, Credibility, and Economic Transformation
Journal of Economic Perspectives, 1991, 5, (4), 139-148 View citations (13)
- Debt relief and debt rescheduling: The optimal-contract approach
Journal of Development Economics, 1991, 36, (1), 5-36 View citations (12)
- From Centrally Planned to Market Economy: The Road from CPE to PCPE
IMF Staff Papers, 1991, 38, (2), 268-299 View citations (13)
- Optimal maturity of nominal government debt: The first tests
Economics Letters, 1991, 35, (4), 415-421 View citations (1)
See also Working Paper Optimal Maturity of Nominal Government Debt: The First Tests, Foerder Institute for Economic Research Working Papers (1990) (1990)
- Temporary stabilization policy: The case of flexible prices and exchange rates
Journal of Economic Dynamics and Control, 1991, 15, (1), 197-213 View citations (8)
- The Perils of Sterilization
IMF Staff Papers, 1991, 38, (4), 921-926 View citations (99)
1990
- Credibility and Nominal Debt: Exploring the Role of Maturity in Managing Inflation
IMF Staff Papers, 1990, 37, (3), 612-635 View citations (20)
- Interest Rate Policy in a Small Open Economy: The Predetermined Exchange Rates Case
IMF Staff Papers, 1990, 37, (4), 753-776 View citations (15)
- Time Consistency of Fiscal and Monetary Policy: A Comment
Econometrica, 1990, 58, (5), 1245-47 View citations (14)
1989
- Anticipated Devaluations
International Economic Review, 1989, 30, (3), 587-606 View citations (2)
- Is Inflation Effective for Liquidating Short-Term Nominal Debt?
IMF Staff Papers, 1989, 36, (4), 950-960 View citations (6)
1988
- Costly Trade Liberalizations: Durable Goods and Capital Mobility
IMF Staff Papers, 1988, 35, (3), 461-473 View citations (40)
- Optimal Time-Consistent Fiscal Policy with Finite Lifetimes
Econometrica, 1988, 56, (2), 411-32 View citations (151)
- Servicing the Public Debt: The Role of Expectations
American Economic Review, 1988, 78, (4), 647-61 View citations (604)
1987
- Balance of Payments Crises in a Cash-in-Advance Economy
Journal of Money, Credit and Banking, 1987, 19, (1), 19-32 View citations (83)
- On the costs of temporary policy
Journal of Development Economics, 1987, 27, (1-2), 245-261 View citations (33)
- Real exchange rate dynamics with nominal parities Structural change and overshooting
Journal of International Economics, 1987, 22, (1-2), 141-155 View citations (10)
1986
- Fractured Liberalism: Argentina under Martinez de Hoz
Economic Development and Cultural Change, 1986, 34, (3), 511-33 View citations (15)
- Temporary Stabilization: Predetermined Exchange Rates
Journal of Political Economy, 1986, 94, (6), 1319-29 View citations (143)
1985
- Currency substitution and the real exchange rate: the utility maximization approach
Journal of International Money and Finance, 1985, 4, (2), 175-188 View citations (32)
- Macroeconomic implications of the government budget: Some basic considerations
Journal of Monetary Economics, 1985, 15, (1), 95-112 View citations (6)
- Reserves and the managed float: a search for the essentials
Journal of International Money and Finance, 1985, 4, (1), 43-60
- The Inefficiency of Unemployment: The Supervision Perspective
The Quarterly Journal of Economics, 1985, 100, (2), 373-387 View citations (13)
1983
- Competitive banks and the inflation tax
Economics Letters, 1983, 12, (3-4), 313-317 View citations (5)
- Growth and Inflationary Finance: Variations on a Mundellian Theme
Journal of Political Economy, 1983, 91, (5), 880-87
- International factor mobility and national advantage
Journal of International Economics, 1983, 14, (1-2), 103-114 View citations (14)
- Staggered prices in a utility-maximizing framework
Journal of Monetary Economics, 1983, 12, (3), 383-398 View citations (6912)
1982
- Involuntary unemployment and inventories: An exploratory model of equilibrium and pure competition
Journal of Macroeconomics, 1982, 4, (3), 253-275 View citations (2)
- The Chilean economy in the 1970s: A comment
Carnegie-Rochester Conference Series on Public Policy, 1982, 17, (1), 153-157
1981
- Capitalización de las Reservas y Tipo Real de Cambio
Latin American Journal of Economics-formerly Cuadernos de Economía, 1981, 18, (53), 5-14 
See also Working Paper Capitalización de las Reservas y Tipo Real de Cambio, CEMA Working Papers: Serie Documentos de Trabajo. (1980) (1980)
- Devaluation: Levels versus rates
Journal of International Economics, 1981, 11, (2), 165-172 View citations (25)
- Open economy macroeconomics: Rudiger Dornbusch, (Basic Books, New York, 1980) pp. ix+293
Journal of International Economics, 1981, 11, (2), 295-299
1980
- Tax-financed government spending in a neoclassical model with sticky wages and rational expectations
Journal of Economic Dynamics and Control, 1980, 2, (1), 61-78 View citations (1)
- Technology, Entrepreneurs, and Firm Size
The Quarterly Journal of Economics, 1980, 95, (4), 663-677 View citations (45)
1979
- Capital accumulation and welfare: a note
Economics Letters, 1979, 4, (2), 135-139 View citations (1)
- Fiscal policy, welfare, and employment with perfect foresight
Journal of Macroeconomics, 1979, 1, (2), 149-166 View citations (2)
- Hierarchy, Ability, and Income Distribution
Journal of Political Economy, 1979, 87, (5), 991-1010 View citations (111)
- On Models of Money and Perfect Foresight
International Economic Review, 1979, 20, (1), 83-103 View citations (58)
- Optimal Population and Capital over Time: The Maximin Perspective
The Review of Economic Studies, 1979, 46, (1), 59-71
- Quasi-Walrasian Theories of Unemployment
American Economic Review, 1979, 69, (2), 102-07 View citations (62)
- The Incidence of a Tax on Pure Rent: A New (?) Reason for an Old Answer
Journal of Political Economy, 1979, 87, (4), 869-74 View citations (24)
1978
- On the Time Consistency of Optimal Policy in a Monetary Economy
Econometrica, 1978, 46, (6), 1411-28 View citations (358)
- On the indeterminacy of interest rates and wages with perfect foresight
Journal of Economic Theory, 1978, 19, (2), 321-337 View citations (40)
- On the optimal acquisition of foreign capital through investment of oil export revenues
Journal of International Economics, 1978, 8, (4), 513-524 View citations (10)
- Optimal seigniorage from money creation: An analysis in terms of the optimum balance of payments deficit problem
Journal of Monetary Economics, 1978, 4, (3), 503-517 View citations (17)
- Some Notes on Time Inconsistency and Rawls' Maximin Criterion
The Review of Economic Studies, 1978, 45, (1), 97-102 View citations (17)
- Supervision, Loss of Control, and the Optimum Size of the Firm
Journal of Political Economy, 1978, 86, (5), 943-52 View citations (123)
- The ex-post behavior of firms offering optimal employment contracts
Economics Letters, 1978, 1, (3), 275-278
- Urban Employment and Wage Determination in LDC's: Trade Unions in the Harris-Todaro Model
International Economic Review, 1978, 19, (1), 65-81 View citations (64)
1977
- A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations
Journal of Political Economy, 1977, 85, (3), 617-25 View citations (129)
- Optimal Maximin Accumulation with Uncertain Future Technology
Econometrica, 1977, 45, (2), 317-27 View citations (5)
- The Stability of Models of Money and Perfect Foresight: A Comment
Econometrica, 1977, 45, (7), 1737-39 View citations (7)
1976
- Optimal Growth in a Putty-Clay Model
Econometrica, 1976, 44, (5), 867-78 View citations (21)
1975
- Efficient and Optimal Utilization of Capital Services
American Economic Review, 1975, 65, (1), 181-86 View citations (22)
Books
2006
- Money, Exchange Rates, and Output, vol 1
MIT Press Books, The MIT Press
2005
- Emerging Capital Markets in Turmoil: Bad Luck or Bad Policy?, vol 1
MIT Press Books, The MIT Press View citations (92)
Edited books
2004
- Money, Capital Mobility, and Trade: Essays in Honor of Robert A. Mundell, vol 1
MIT Press Books, The MIT Press View citations (5)
1998
- The Debt Burden and its Consequences for Monetary Policy
International Economic Association Series, Palgrave Macmillan View citations (159)
Chapters
2015
- The Liquidity Approach to Bubbles, Crises, Jobless Recoveries, and Involuntary Unemployment
Chapter 06 in Economic Policies in Emerging-Market Economies Festschrift in Honor of Vittorio Corbo, 2015, vol. 21, pp 079-108 View citations (1)
See also Journal Article The Liquidity Approach to Bubbles, Crises, Jobless Recoveries, and Involuntary Unemployment, Central Bank of Chile (2015) View citations (1) (2015)
2014
- Jobless Recoveries during Financial Crises: Is Inflation the Way Out?
Chapter 11 in Macroeconomic and Financial Stability: challenges for Monetary Policy, 2014, vol. 19, pp 331-381 View citations (2)
See also Working Paper Jobless Recoveries during Financial Crises: Is Inflation the Way Out?, HAL (2014) View citations (1) (2014)
2010
- Inflation targeting in hard times
A chapter in Perspectives on inflation targeting, financial stability and the global crisis, 2010, vol. 51, pp 15-18 View citations (2)
2009
- The Current Financial Crisis: Will Latin America Be Caught in the Web, Again?
Chapter 2 in Globalization And Systemic Risk, 2009, pp 11-25
2008
- Crises in Emerging Markets Economies: A Global Perspective
Chapter 3 in Current Account and External Financing, 2008, vol. 12, pp 085-115 View citations (1)
See also Working Paper Crises in Emerging Market Economies: A Global Perspective, Central Bank of Chile (2007) View citations (15) (2007)
2004
- Contagion in Emerging Markets: When Wall Street is a Carrier
Palgrave Macmillan View citations (23)
2000
- Balance-of-Payments Crises in Emerging Markets: Large Capital Inflows and Sovereign Governments
A chapter in Currency Crises, 2000, pp 71-97 View citations (45)
- Contagion, Globalization, and the Volatility of Capital Flows
A chapter in Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, 2000, pp 15-41 View citations (26)
- Inauguración
Chapter 1 in América Latina: el camino después de la crisis, 2000, vol. 1, pp 9-12
- La alternativa de dolarizar
Chapter 2 in Dolarizar la economía peruana: riesgos y oportunidades, 2000, vol. 1, pp 15-62
- Panel I ¿Qué camino tomará América Latina?
Chapter 2 in América Latina: el camino después de la crisis, 2000, vol. 1, pp 13-68
1999
- Inflation stabilization and bop crises in developing countries
Chapter 24 in Handbook of Macroeconomics, 1999, vol. 1, Part C, pp 1531-1614 View citations (168)
See also Working Paper Inflation Stabilization and BOP Crises in Developing Countries, National Bureau of Economic Research, Inc (1999) View citations (176) (1999)
1998
- Growth, Debt and Economic Transformation: The Capital Flight Problem
Palgrave Macmillan View citations (10)
- The Unforgiving ‘Market’ and the Tequilazo
Palgrave Macmillan
- Varieties of Capital-Market Crises
Palgrave Macmillan View citations (58)
See also Working Paper Varieties of Capital-Market Crises, Inter-American Development Bank, Research Department (1995) View citations (90) (1995)
1996
- The Management of Capital Flows: Domestic Policy and International Cooperation
Palgrave Macmillan
1994
- Capital Inflows to Latin America: The 1970s and 1990s
Palgrave Macmillan View citations (7)
See also Working Paper Capital Inflows to Latin America: The 1970s and 1990s, University Library of Munich, Germany (1994) View citations (26) (1994)
1993
- Exchange-Rate Based Stabilisation under Imperfect Credibility
Palgrave Macmillan View citations (37)
See also Working Paper Exchange-Rate-Based Stabilization under Imperfect Credibility, International Monetary Fund (1991) View citations (40) (1991)
1986
- Welfare, Banks, and Capital Mobility in Steady State: The Case of Predetermined Exchange Rates
A chapter in Economic Adjustment and Exchange Rates in Developing Countries, 1986, pp 175-200
1983
- Staggered Contracts and Exchange Rate Policy
A chapter in Exchange Rates and International Macroeconomics, 1983, pp 235-258 View citations (44)
- Trying to Stabilize: Some Theoretical Reflections Based on the Case of Argentina
A chapter in Financial Policies and the World Capital Market: The Problem of Latin American Countries, 1983, pp 199-220 View citations (13)
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