Details about Charles Engel

Workplace:

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

Access statistics for papers by Charles Engel.

Last updated 2024-11-06. Update your information in the RePEc Author Service.

Short-id: pen14

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Working Papers

2024

1. Exchange Rate Models are Better than You Think, and Why They Didn't Work in the Old Days
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)
2. U.S. Liquid Government Liabilities and Emerging Market Capital Flows
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2024)

2023

3. Collateral Advantage: Exchange Rates, Capital Flows and Global Cycles
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
4. Liquidity and Exchange Rates: An Empirical Investigation
   University of California at San Diego, Economics Working Paper Series, Department of Economics, UC San Diego View citations (5)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (40)
   NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (45)
   See also Journal Article Liquidity and Exchange Rates: An Empirical Investigation, The Review of Economic Studies, Review of Economic Studies Ltd (2023) View citations (2) (2023)

2022

5. Scrambling for Dollars: International Liquidity, Banks and Exchange Rates
   Working Papers, Peruvian Economic Association
   Also in Working Papers, Federal Reserve Bank of Minneapolis (2021) View citations (3)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
   NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (17)

2021

6. A Reconsideration of the Failure of Uncovered Interest Parity for the U.S. Dollar
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021) View citations (4)
   See also Journal Article A reconsideration of the failure of uncovered interest parity for the U.S. dollar, Journal of International Economics, Elsevier (2022) View citations (14) (2022)
   Chapter A Reconsideration of the Failure of Uncovered Interest Parity for the US Dollar, NBER Chapters, National Bureau of Economic Research, Inc (2021) View citations (3) (2021)
7. Forecasting the U.S. Dollar in the 21st Century
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (1)
   See also Journal Article Forecasting the U.S. Dollar in the 21st Century, Journal of International Economics, Elsevier (2023) View citations (8) (2023)

2019

8. Exchange rate puzzles: evidence from rigidly fixed nominal exchange rate systems
   BIS Working Papers, Bank for International Settlements View citations (8)
9. Safe U.S. Assets and U.S. Capital Flows
   GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
   See also Journal Article Safe U.S. Assets and U.S. Capital Flows, Journal of International Money and Finance, Elsevier (2020) (2020)

2018

10. Debauchery and Original Sin: The Currency Composition of Sovereign Debt
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    Also in 2017 Meeting Papers, Society for Economic Dynamics (2017) View citations (9)
    NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (35)
    See also Journal Article Debauchery and Original Sin: The Currency Composition of Sovereign Debt, Journal of the European Economic Association, European Economic Association (2022) View citations (12) (2022)

2017

11. Real Exchange Rate Convergence: The Roles of Price Stickiness and Monetary Policy
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    See also Journal Article Real exchange rate convergence: The roles of price stickiness and monetary policy, Journal of Monetary Economics, Elsevier (2019) View citations (20) (2019)
12. Real Exchange Rates and Sectoral Productivity in the Eurozone
    Working Papers, New Zealand Centre of Macroeconomics View citations (2)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (21)
    Working Papers, Department of Economics, The University of Auckland (2015) View citations (6)
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas (2014) View citations (12)
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2017)
    Discussion Papers, School of Economics and Finance, Massey University, New Zealand (2017) View citations (2)
    CAMA Working Papers, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University (2014) View citations (29)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (21)
    See also Journal Article Real Exchange Rates and Sectoral Productivity in the Eurozone, American Economic Review, American Economic Association (2018) View citations (56) (2018)
13. The Uncovered Interest Parity Puzzle, Exchange Rate Forecasting, and Taylor Rules
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article The uncovered interest parity puzzle, exchange rate forecasting, and Taylor rules, Journal of International Money and Finance, Elsevier (2019) View citations (36) (2019)

2015

14. Exchange Rates, Interest Rates, and the Risk Premium
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Exchange Rates, Interest Rates, and the Risk Premium, American Economic Review, American Economic Association (2016) View citations (161) (2016)
15. International Coordination of Central Bank Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article International coordination of central bank policy, Journal of International Money and Finance, Elsevier (2016) View citations (19) (2016)
16. Macroprudential Policy in a World of High Capital Mobility: Policy Implications from an Academic Perspective
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

2013

17. Exchange Rates and Interest Parity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)
    See also Chapter Exchange Rates and Interest Parity, Handbook of International Economics, Elsevier (2014) View citations (158) (2014)

2012

18. Factor Model Forecasts of Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    See also Journal Article Factor Model Forecasts of Exchange Rates, Econometric Reviews, Taylor & Francis Journals (2015) View citations (83) (2015)

2011

19. The Real Exchange Rate, Real Interest Rates, and the Risk Premium
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2011) View citations (19)
    Economics Series, Institute for Advanced Studies (2011) View citations (16)

2009

20. Can long-horizon forecasts beat the random walk under the Engel-West explanation?
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (5)
21. Currency Misalignments and Optimal Monetary Policy: A Re-examination
    RBA Research Discussion Papers, Reserve Bank of Australia View citations (9)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (26)
    See also Journal Article Currency Misalignments and Optimal Monetary Policy: A Reexamination, American Economic Review, American Economic Association (2011) View citations (212) (2011)
22. International Risk Sharing: Through Equity Diversification or Exchange Rate Hedging?
    IMF Working Papers, International Monetary Fund View citations (23)
23. The International Diversification Puzzle when Goods Prices Are Sticky: It's Really About Exchange-Rate Hedging, not Equity Portfolios
    IMF Working Papers, International Monetary Fund View citations (98)
    See also Journal Article The International Diversification Puzzle When Goods Prices Are Sticky: It's Really about Exchange-Rate Hedging, Not Equity Portfolios, American Economic Journal: Macroeconomics, American Economic Association (2009) View citations (121) (2009)

2008

24. Can Long Horizon Data Beat Random Walk under Engel-West Explanation?
    2008 Meeting Papers, Society for Economic Dynamics View citations (2)
25. Expected consumption growth from cross-country surveys: implications for assessing international capital markets
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Markets, IMF Staff Papers, Palgrave Macmillan (2009) View citations (10) (2009)
26. International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
    2008 Meeting Papers, Society for Economic Dynamics View citations (19)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (28)
    See also Journal Article International trade in durable goods: Understanding volatility, cyclicality, and elasticities, Journal of International Economics, Elsevier (2011) View citations (168) (2011)

2007

27. Exchange Rate Models Are Not as Bad as You Think
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (350)
    See also Chapter Exchange Rate Models Are Not as Bad as You Think, NBER Chapters, National Bureau of Economic Research, Inc (2008) View citations (138) (2008)
28. Expectations and Exchange Rate Policy
    Working Papers, Hong Kong Institute for Monetary Research View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (24)
    NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (24)
29. International trade in durable goods: understanding volatility, cyclicality, and elastics
    Globalization Institute Working Papers, Federal Reserve Bank of Dallas View citations (6)

2006

30. Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2005) View citations (4)
    Working Paper Series, European Central Bank (2006) View citations (12)
31. Portfolio Choice in a Monetary Open-Economy DSGE Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (105)
    Also in IMF Working Papers, International Monetary Fund (2005) View citations (42)
32. The U.S. Current Account Deficit and the Expected Share of World Output
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (83)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (2006) View citations (57)
    Working Paper Series, Federal Reserve Bank of San Francisco (2006) View citations (86)
    See also Journal Article The U.S. current account deficit and the expected share of world output, Proceedings, Federal Reserve Bank of San Francisco (2006) View citations (73) (2006)

2005

33. Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
    See also Journal Article Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing, Journal of the European Economic Association, MIT Press (2006) View citations (140) (2006)
34. The US Current Account Deficit: A Re-examination of the Role of Private Saving
    RBA Research Discussion Papers, Reserve Bank of Australia View citations (2)

2004

35. Accounting for Exchange Rate Variability in Present-Value Models When the Discount Factor is Near One
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (64)
36. Does "Aggregation Bias" Explain the PPP Puzzle?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
37. Exchange Rates and Fundamentals
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    Also in Working Paper Series, European Central Bank (2003) View citations (17)
    See also Journal Article Exchange Rates and Fundamentals, Journal of Political Economy, University of Chicago Press (2005) View citations (656) (2005)
38. On the Relationship between Pass-Through and Sticky Nominal Prices
    Working Papers, Hong Kong Institute for Monetary Research View citations (7)
39. Some New Variance Bounds for Asset Prices
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article Some New Variance Bounds for Asset Prices, Journal of Money, Credit and Banking, Blackwell Publishing (2005) View citations (7) (2005)
40. Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
    See also Journal Article Taylor Rules and the Deutschmark: Dollar Real Exchange Rate, Journal of Money, Credit and Banking, Blackwell Publishing (2006) View citations (154) (2006)

2003

41. Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance
    CERS-IE WORKING PAPERS, Institute of Economics, Centre for Economic and Regional Studies View citations (29)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (12)
    Working Papers, Hong Kong Institute for Monetary Research (2002) View citations (11)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (39)
    See also Journal Article Endogenous exchange rate pass-through when nominal prices are set in advance, Journal of International Economics, Elsevier (2004) View citations (245) (2004)
42. Revisiting the Border: an assessment of the law of one price using very disaggregated consumer price data
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (30)

2002

43. Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (284)
    See also Journal Article Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect, Journal of Monetary Economics, Elsevier (2002) View citations (294) (2002)
44. Expenditure Switching and Exchange Rate Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (119)
    See also Chapter Expenditure Switching and Exchange-Rate Policy, NBER Chapters, National Bureau of Economic Research, Inc (2003) View citations (27) (2003)
45. The Responsiveness of Consumer Prices to Exchange Rates And the Implications for Exchange-Rate Policy: A Survey Of a Few Recent New Open-Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (72)

2001

46. Currency Unions and International Integration
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (17)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (64)
    See also Journal Article Currency Unions and International Integration, Journal of Money, Credit and Banking, Blackwell Publishing (2002) View citations (185) (2002)
47. Endogenous Currency of Price Setting in a Dynamic Open Economy Model
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (121)
48. The Adjustment of Prices and the Adjustment of the Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (1)
    Working Papers, University of Washington, Department of Economics (2000) View citations (9)

2000

49. Comments on Obstfeld and Rogoff's "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?"
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
50. Deviations from purchasing power parity: causes and welfare costs
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) View citations (12)
    Working Papers, University of Washington, Department of Economics (1999) View citations (5)
    See also Journal Article Deviations from purchasing power parity: causes and welfare costs, Journal of International Economics, Elsevier (2001) View citations (140) (2001)
51. Monetary Policy In The Open Economy Revisited: Price Setting Rules And Exchange Rate Flexibility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (112)
52. Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibiity
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington View citations (13)
    Also in Working Papers, Hong Kong Institute for Monetary Research (2000) View citations (120)
    NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (172)
    Working Papers, University of Washington, Department of Economics (2000) View citations (13)
    See also Journal Article Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility, The Review of Economic Studies, Review of Economic Studies Ltd (2003) View citations (579) (2003)
53. Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (5)
    Working Papers, University of Washington, Department of Economics (2000) View citations (5)
    See also Journal Article Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets, Journal of Money, Credit and Banking, Blackwell Publishing (2001) View citations (18) (2001)
54. The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production
    Working Papers, University of Washington, Department of Economics View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (31)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (13)
    See also Chapter The Optimal Choice of Exchange Rate Regime: Price-Setting Rules and Internationalized Production, NBER Chapters, National Bureau of Economic Research, Inc (2001) View citations (7) (2001)
55. Violating the Law of One Price: Should We Make a Federal Case Out of It?
    Working Papers, University of Washington, Department of Economics View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (11)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (2000) View citations (5)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1999) View citations (9)
    See also Journal Article Violating the Law of One Price: Should We Make a Federal Case Out of It?, Journal of Money, Credit and Banking, Blackwell Publishing (2001) View citations (76) (2001)

1999

56. Exchange Rate Pass-Through and the Welfare Effects of the Euro
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)
    Also in Working Papers, University of Washington, Department of Economics (1999) View citations (39)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1999) View citations (47)
    See also Journal Article Exchange Rate Pass-Through and the Welfare Effects of the Euro, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (2003) View citations (83) (2003)
57. Local-Currency Pricing and the Choice of Exchange-Rate Regime
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington View citations (3)
    Also in Working Papers, University of Washington, Department of Economics (1999)
    See also Journal Article Local-currency pricing and the choice of exchange-rate regime, European Economic Review, Elsevier (2000) View citations (46) (2000)
58. On the Foreign-Exchange Risk Premium in Sticky-Price General Equilibrium Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
    See also Journal Article On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models, International Tax and Public Finance, Springer (1999) View citations (29) (1999)

1998

59. Fixed vs. Floating Exchange Rates: How Price Setting Affects the Optimal Choice of Exchange-Rate Regime
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (166)
60. Long-Run PPP May Not Hold After All
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington View citations (10)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (35)
    Working Papers, University of Washington, Department of Economics (1998) View citations (5)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (25)
    Working Papers, University of Washington, Department of Economics (1996) View citations (34)
    See also Journal Article Long-run PPP may not hold after all, Journal of International Economics, Elsevier (2000) View citations (197) (2000)
61. Relative Price Volatility: What Role Does the Border Play?
    Working Papers, University of Washington, Department of Economics View citations (18)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1998) View citations (7)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1998) View citations (16)

1997

62. Intra-National, Intra-Continental, and Intra-Planetary PPP
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (29)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1997) View citations (12)
    See also Journal Article Intranational, Intracontinental, and Intraplanetary PPP, Journal of the Japanese and International Economies, Elsevier (1997) View citations (11) (1997)

1996

63. A Model of Foreign Exchange Rate Indetermination
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington View citations (10)
    Also in Working Papers, University of Washington, Department of Economics (1996) View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (10)
64. Accounting for U.S. Real Exchange Rate Changes
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington
    Also in Working Papers, University of Washington, Department of Economics (1996) View citations (64)
    NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (19)
    See also Journal Article Accounting for U.S. Real Exchange Rate Changes, Journal of Political Economy, University of Chicago Press (1999) View citations (521) (1999)
65. Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies
    Working Papers, University of Washington, Department of Economics View citations (6)
    Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1996) View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (40)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (2)
66. The Long-Run U.S./U.K. Real Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1996) View citations (12)
    Working Papers, University of Washington, Department of Economics (1996) View citations (2)
    See also Journal Article The Long-Run U.S./U.K. Real Exchange Rate, Journal of Money, Credit and Banking, Blackwell Publishing (1999) View citations (35) (1999)

1995

67. How Wide is the Border?
    Working Papers, Pennsylvania State - Department of Economics View citations (45)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1995) View citations (41)
    NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations (28)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1995) View citations (19)
    See also Journal Article How Wide Is the Border?, American Economic Review, American Economic Association (1996) View citations (799) (1996)
68. The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (359)
    See also Journal Article The forward discount anomaly and the risk premium: A survey of recent evidence, Journal of Empirical Finance, Elsevier (1996) View citations (741) (1996)
69. Why is the Foreward Exchange Rate Forecast Based? A Survey of Recent Evidence
    Working Papers, University of Washington, Department of Economics View citations (8)
    Also in Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1995) View citations (1)
    Research Working Paper, Federal Reserve Bank of Kansas City (1995) View citations (10)

1994

70. Relative Returns on Equities in Pacific Basin Countries
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Relative returns on equities in Pacific Basin countries, Proceedings, Federal Reserve Bank of San Francisco (1992) View citations (1) (1992)
71. The Distribution of Exchange Rates in the EMS
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (48)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1994) View citations (18)
    See also Journal Article The Distribution of Exchange Rates in the EMS, International Journal of Finance & Economics, John Wiley & Sons, Ltd. (1996) View citations (56) (1996)

1993

72. Tests of CAPM on an International Portfolio of Bonds and Stocks
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Chapter Tests of CAPM on an International Portfolio of Bonds and Stocks, NBER Chapters, National Bureau of Economic Research, Inc (1994) View citations (16) (1994)
73. The Constrained Asset Share Estimation (CASE) Method: Testing Mean-Variance Efficiency of the U.S. Stock Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    Also in Economics Working Papers, University of California at Berkeley (1990) View citations (2)

1992

74. Can the Markov Switching Model Forecast Exchange Rates?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (122)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1991) View citations (5)
    See also Journal Article Can the Markov switching model forecast exchange rates?, Journal of International Economics, Elsevier (1994) View citations (256) (1994)
75. Distribution of Rents and Growth
    Working Papers, Yale - Economic Growth Center View citations (3)
    Also in Working Papers, University of Washington, Department of Economics (1992) View citations (2)
    Discussion Papers in Economics at the University of Washington, Department of Economics at the University of Washington (1992) View citations (2)
76. Real Exchange Rates and Relative Prices: An Empirical Investigation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article Real exchange rates and relative prices: An empirical investigation, Journal of Monetary Economics, Elsevier (1993) View citations (266) (1993)
77. Tests of mean-variance efficiency of international equity markets
    Research Paper, Federal Reserve Bank of New York View citations (6)
    Also in Research Working Paper, Federal Reserve Bank of Kansas City (1990) View citations (1)
    See also Journal Article Tests of Mean-Variance Efficiency of International Equity Markets, Oxford Economic Papers, Oxford University Press (1993) View citations (10) (1993)

1991

78. Is real exchange rate variability caused by relative price changes? An empirical investigation
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (10)

1990

79. On the foreign exchange risk premium in a general equilibrium model
    Research Working Paper, Federal Reserve Bank of Kansas City View citations (9)
    See also Journal Article On the foreign exchange risk premium in a general equilibrium model, Journal of International Economics, Elsevier (1992) View citations (51) (1992)
80. The risk premium and the liquidity premium in foreign exchange markets
    Research Working Paper, Federal Reserve Bank of Kansas City
    See also Journal Article The Risk Premium and the Liquidity Premium in Foreign Exchange Markets, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (1992) View citations (12) (1992)

1989

81. Conditional Mean-Variance Efficiency of the U.S. Stock Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in Research Paper, Federal Reserve Bank of New York (1989) View citations (3)
82. Long Swings in the Exchange Rate: Are they in the Data and Do Markets Know It?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)

1988

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

1987

85. Saving and Investment in an Open Economy with Non-Traded Goods
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article Saving and Investment in an Open Economy with Non-traded Goods, International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association (1989) View citations (48) (1989)
86. Tests of International CAPM with Time-Varying Covariances
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Tests of International CAPM with Time-Varying Covariances, Journal of Applied Econometrics, John Wiley & Sons, Ltd. (1989) View citations (93) (1989)
87. The Real Effects of Foreign Inflation in the Presence of Currency Substitution
    NBER Working Papers, National Bureau of Economic Research, Inc
88. Trade Policy under Endogenous Credibility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article Trade policy under endogenous credibility, Journal of Development Economics, Elsevier (1991) View citations (5) (1991)

1986

89. International Borrowing to Finance Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
90. Tariffs, Saving and the Current Account
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)

1982

91. Do Asset-Demand Functions Optimize over the Mean and Variance of Real Returns? A Six-Currency Test
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article Do asset-demand functions optimize over the mean and variance of real returns? A six-currency test, Journal of International Economics, Elsevier (1984) View citations (76) (1984)
92. Why Money Announcements Move Interest Rates: An Answer from the Foreign Exchange Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article Why money announcements move interest rates: an answer from the foreign exchange market, Proceedings, Federal Reserve Bank of San Francisco (1982) View citations (9) (1982)

Journal Articles

2023

1. Forecasting the U.S. Dollar in the 21st Century
   Journal of International Economics, 2023, 141, (C) View citations (8)
   See also Working Paper Forecasting the U.S. Dollar in the 21st Century, CEPR Discussion Papers (2021) View citations (1) (2021)
2. Liquidity and Exchange Rates: An Empirical Investigation
   The Review of Economic Studies, 2023, 90, (5), 2395-2438 View citations (2)
   See also Working Paper Liquidity and Exchange Rates: An Empirical Investigation, University of California at San Diego, Economics Working Paper Series (2023) View citations (5) (2023)

2022

3. A reconsideration of the failure of uncovered interest parity for the U.S. dollar
   Journal of International Economics, 2022, 136, (C) View citations (14)
   See also Working Paper A Reconsideration of the Failure of Uncovered Interest Parity for the U.S. Dollar, NBER Working Papers (2021) View citations (4) (2021)
   Chapter A Reconsideration of the Failure of Uncovered Interest Parity for the US Dollar, NBER Chapters, 2021 (2021) View citations (3) (2021)
4. Debauchery and Original Sin: The Currency Composition of Sovereign Debt
   Journal of the European Economic Association, 2022, 20, (3), 1095-1144 View citations (12)
   See also Working Paper Debauchery and Original Sin: The Currency Composition of Sovereign Debt, GRU Working Paper Series (2018) (2018)

2020

5. Implementable Rules for International Monetary Policy Coordination
   IMF Economic Review, 2020, 68, (1), 108-162 View citations (10)
6. Safe U.S. Assets and U.S. Capital Flows
   Journal of International Money and Finance, 2020, 102, (C)
   See also Working Paper Safe U.S. Assets and U.S. Capital Flows, GRU Working Paper Series (2019) (2019)

2019

7. Real exchange rate convergence: The roles of price stickiness and monetary policy
   Journal of Monetary Economics, 2019, 103, (C), 21-32 View citations (20)
   See also Working Paper Real Exchange Rate Convergence: The Roles of Price Stickiness and Monetary Policy, GRU Working Paper Series (2017) (2017)
8. The uncovered interest parity puzzle, exchange rate forecasting, and Taylor rules
   Journal of International Money and Finance, 2019, 95, (C), 317-331 View citations (36)
   See also Working Paper The Uncovered Interest Parity Puzzle, Exchange Rate Forecasting, and Taylor Rules, NBER Working Papers (2017) View citations (3) (2017)

2018

9. Real Exchange Rates and Sectoral Productivity in the Eurozone
   American Economic Review, 2018, 108, (6), 1543-81 View citations (56)
   See also Working Paper Real Exchange Rates and Sectoral Productivity in the Eurozone, Working Papers (2017) View citations (2) (2017)

2016

10. Exchange Rates, Interest Rates, and the Risk Premium
    American Economic Review, 2016, 106, (2), 436-74 View citations (161)
    See also Working Paper Exchange Rates, Interest Rates, and the Risk Premium, NBER Working Papers (2015) View citations (4) (2015)
11. International coordination of central bank policy
    Journal of International Money and Finance, 2016, 67, (C), 13-24 View citations (19)
    See also Working Paper International Coordination of Central Bank Policy, NBER Working Papers (2015) View citations (8) (2015)
12. Macroprudential policy under high capital mobility: policy implications from an academic perspective
    Journal of the Japanese and International Economies, 2016, 42, (C), 162-172 View citations (28)
    See also Chapter Macroprudential Policy under High Capital Mobility: Policy Implications from an Academic Perspective, NBER Chapters, 2015 (2015) View citations (8) (2015)
13. Policy Cooperation, Incomplete Markets, and Risk Sharing
    IMF Economic Review, 2016, 64, (1), 103-133 View citations (9)

2015

14. Factor Model Forecasts of Exchange Rates
    Econometric Reviews, 2015, 34, (1-2), 32-55 View citations (83)
    See also Working Paper Factor Model Forecasts of Exchange Rates, NBER Working Papers (2012) View citations (20) (2012)

2014

15. Exchange Rate Stabilization and Welfare
    Annual Review of Economics, 2014, 6, (1), 155-177 View citations (28)

2012

16. Comment
    NBER International Seminar on Macroeconomics, 2012, 8, (1), 87 - 89
17. Comment
    NBER Macroeconomics Annual, 2012, 26, (1), 310 - 314
18. Real Exchange Rate Adjustment in and out of the Eurozone
    American Economic Review, 2012, 102, (3), 179-85 View citations (56)

2011

19. Currency Misalignments and Optimal Monetary Policy: A Reexamination
    American Economic Review, 2011, 101, (6), 2796-2822 View citations (212)
    See also Working Paper Currency Misalignments and Optimal Monetary Policy: A Re-examination, RBA Research Discussion Papers (2009) View citations (9) (2009)
20. International trade in durable goods: Understanding volatility, cyclicality, and elasticities
    Journal of International Economics, 2011, 83, (1), 37-52 View citations (168)
    See also Working Paper International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities, 2008 Meeting Papers (2008) View citations (19) (2008)

2010

21. Global Interest Rates, Currency Returns, and the Real Value of the Dollar
    American Economic Review, 2010, 100, (2), 562-67 View citations (36)
22. JIE special issue on international macro-finance
    Journal of International Economics, 2010, 80, (1), 1-2 View citations (1)

2009

23. Comment
    NBER International Seminar on Macroeconomics, 2009, 5, (1), 194 - 196
24. Exchange rate policies
    Staff Papers, 2009, (Nov) View citations (2)
    See also Chapter Exchange rate policies, BIS Papers chapters, 2010, 52, 229-250 (2010) View citations (15) (2010)
25. Expected Consumption Growth from Cross-Country Surveys: Implications for Assessing International Capital Markets
    IMF Staff Papers, 2009, 56, (3), 543-573 View citations (10)
    See also Working Paper Expected consumption growth from cross-country surveys: implications for assessing international capital markets, International Finance Discussion Papers (2008) View citations (2) (2008)
26. Pass-Through, Exchange Rates, and Monetary Policy
    Journal of Money, Credit and Banking, 2009, 41, (s1), 177-185 View citations (3)
    Also in Journal of Money, Credit and Banking, 2009, 41, (s1), 177-185 (2009) View citations (1)
27. The International Diversification Puzzle When Goods Prices Are Sticky: It's Really about Exchange-Rate Hedging, Not Equity Portfolios
    American Economic Journal: Macroeconomics, 2009, 1, (2), 155-88 View citations (121)
    See also Working Paper The International Diversification Puzzle when Goods Prices Are Sticky: It's Really About Exchange-Rate Hedging, not Equity Portfolios, IMF Working Papers (2009) View citations (98) (2009)

2008

28. On the record: making sense of today's globalized economy
    Southwest Economy, 2008, (Sep), 8-9
29. The Bhagwati Award
    Journal of International Economics, 2008, 74, (1), 1-(null)

2007

30. Expectations, Monetary Policy, and the Misalignment of Traded Goods Prices [with Comments]
    NBER International Seminar on Macroeconomics, 2007, 2007, (1), 131 - 172 View citations (3)
31. Expenditure switching versus real exchange rate stabilization: Competing objectives for exchange rate policy
    Journal of Monetary Economics, 2007, 54, (8), 2346-2374 View citations (86)

2006

32. Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing
    Journal of the European Economic Association, 2006, 4, (6), 1249-1260 View citations (140)
    See also Working Paper Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing, NBER Working Papers (2005) View citations (18) (2005)
33. Taylor Rules and the Deutschmark: Dollar Real Exchange Rate
    Journal of Money, Credit and Banking, 2006, 38, (5), 1175-1194 View citations (154)
    See also Working Paper Taylor Rules and the Deutschmark-Dollar Real Exchange Rate, NBER Working Papers (2004) View citations (10) (2004)
34. The U.S. current account deficit and the expected share of world output
    Proceedings, 2006, (Jun) View citations (73)
    Also in Journal of Monetary Economics, 2006, 53, (5), 1063-1093 (2006) View citations (74)
    See also Working Paper The U.S. Current Account Deficit and the Expected Share of World Output, NBER Working Papers (2006) View citations (83) (2006)

2005

35. Exchange Rates and Fundamentals
    Journal of Political Economy, 2005, 113, (3), 485-517 View citations (656)
    Also in Proceedings, 2003, (Mar) (2003) View citations (24)
    See also Working Paper Exchange Rates and Fundamentals, NBER Working Papers (2004) View citations (13) (2004)
36. Some New Variance Bounds for Asset Prices
    Journal of Money, Credit and Banking, 2005, 37, (5), 949-55 View citations (7)
    See also Working Paper Some New Variance Bounds for Asset Prices, NBER Working Papers (2004) (2004)
37. Trade Invoicing in the Accession Countries: Are They Suited to the Euro? [with Comments]
    NBER International Seminar on Macroeconomics, 2005, 2005, (1), 357 - 402 View citations (1)

2004

38. Accounting for Exchange-Rate Variability in Present-Value Models When the Discount Factor Is Near 1
    American Economic Review, 2004, 94, (2), 119-125 View citations (62)
39. Endogenous exchange rate pass-through when nominal prices are set in advance
    Journal of International Economics, 2004, 63, (2), 263-291 View citations (245)
    See also Working Paper Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance, CERS-IE WORKING PAPERS (2003) View citations (29) (2003)
40. European product market integration after the euro
    (The law of one price in Scandinavian duty-free stores)
    Economic Policy, 2004, 19, (39), 348-384 View citations (131)

2003

41. Empirical exchange rate models
    Journal of International Economics, 2003, 60, (1), 1-2 View citations (5)
42. Exchange Rate Pass-Through and the Welfare Effects of the Euro
    International Economic Review, 2003, 44, (1), 223-242 View citations (83)
    See also Working Paper Exchange Rate Pass-Through and the Welfare Effects of the Euro, NBER Working Papers (1999) View citations (40) (1999)
43. Monetary Policy in the Open Economy Revisited: Price Setting and Exchange-Rate Flexibility
    The Review of Economic Studies, 2003, 70, (4), 765-783 View citations (579)
    See also Working Paper Monetary Policy in the Open Economy Revisited: Price Setting and Exchange Rate Flexibiity, Discussion Papers in Economics at the University of Washington (2000) View citations (13) (2000)

2002

44. Currency Unions and International Integration
    Journal of Money, Credit and Banking, 2002, 34, (4), 1067-89 View citations (185)
    See also Working Paper Currency Unions and International Integration, CEPR Discussion Papers (2001) View citations (17) (2001)
45. Exchange rate pass-through, exchange rate volatility, and exchange rate disconnect
    Journal of Monetary Economics, 2002, 49, (5), 913-940 View citations (294)
    See also Working Paper Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect, NBER Working Papers (2002) View citations (284) (2002)
46. The Responsiveness of Consumer Prices to Exchange Rates: A Synthesis Of Some New Open Economy Macro Models
    Manchester School, 2002, 70, (S1), 1-15 View citations (64)

2001

47. Deviations from purchasing power parity: causes and welfare costs
    Journal of International Economics, 2001, 55, (1), 29-57 View citations (140)
    See also Working Paper Deviations from purchasing power parity: causes and welfare costs, International Finance Discussion Papers (2000) View citations (2) (2000)
48. Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets
    Journal of Money, Credit and Banking, 2001, 33, (2), 518-41 View citations (18)
    Also in Proceedings, 2001, 518-547 (2001) View citations (17)
    See also Working Paper Optimal Exchange Rate Policy: The Influence of Price Setting and Asset Markets, NBER Working Papers (2000) View citations (7) (2000)
49. Violating the Law of One Price: Should We Make a Federal Case Out of It?
    Journal of Money, Credit and Banking, 2001, 33, (1), 1-15 View citations (76)
    See also Working Paper Violating the Law of One Price: Should We Make a Federal Case Out of It?, Working Papers (2000) View citations (4) (2000)

2000

50. Local-currency pricing and the choice of exchange-rate regime
    European Economic Review, 2000, 44, (8), 1449-1472 View citations (46)
    See also Working Paper Local-Currency Pricing and the Choice of Exchange-Rate Regime, Discussion Papers in Economics at the University of Washington (1999) View citations (3) (1999)
51. Long-run PPP may not hold after all
    Journal of International Economics, 2000, 51, (2), 243-273 View citations (197)
    See also Working Paper Long-Run PPP May Not Hold After All, Discussion Papers in Economics at the University of Washington (1998) View citations (10) (1998)

1999

52. Accounting for U.S. Real Exchange Rate Changes
    Journal of Political Economy, 1999, 107, (3), 507-538 View citations (521)
    See also Working Paper Accounting for U.S. Real Exchange Rate Changes, Discussion Papers in Economics at the University of Washington (1996) (1996)
53. Are we globalized yet?
    FRBSF Economic Letter, 1999, (nov19)
54. On the Foreign Exchange Risk Premium in Sticky-Price General Equilibrium Models
    International Tax and Public Finance, 1999, 6, (4), 491-505 View citations (29)
    See also Working Paper On the Foreign-Exchange Risk Premium in Sticky-Price General Equilibrium Models, NBER Working Papers (1999) View citations (23) (1999)
55. The Long-Run U.S./U.K. Real Exchange Rate
    Journal of Money, Credit and Banking, 1999, 31, (3), 335-56 View citations (35)
    See also Working Paper The Long-Run U.S./U.K. Real Exchange Rate, NBER Working Papers (1996) View citations (1) (1996)

1998

56. Rent Sharing, Aggregate Saving, and Growth
    Review of Development Economics, 1998, 2, (2), 107-122

1997

57. Intranational, Intracontinental, and Intraplanetary PPP
    Journal of the Japanese and International Economies, 1997, 11, (4), 480-501 View citations (11)
    See also Working Paper Intra-National, Intra-Continental, and Intra-Planetary PPP, NBER Working Papers (1997) View citations (29) (1997)

1996

58. A note on cointegration and international capital market efficiency
    Journal of International Money and Finance, 1996, 15, (4), 657-660 View citations (36)
59. How Wide Is the Border?
    American Economic Review, 1996, 86, (5), 1112-25 View citations (799)
    See also Working Paper How Wide is the Border?, Working Papers (1995) View citations (45) (1995)
60. The Distribution of Exchange Rates in the EMS
    International Journal of Finance & Economics, 1996, 1, (1), 55-67 View citations (56)
    See also Working Paper The Distribution of Exchange Rates in the EMS, NBER Working Papers (1994) View citations (48) (1994)
61. The forward discount anomaly and the risk premium: A survey of recent evidence
    Journal of Empirical Finance, 1996, 3, (2), 123-192 View citations (741)
    See also Working Paper The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence, NBER Working Papers (1995) View citations (359) (1995)

1995

62. Tests of conditional mean-variance efficiency of the U.S. stock market
    Journal of Empirical Finance, 1995, 2, (1), 3-18 View citations (10)

1994

63. Can the Markov switching model forecast exchange rates?
    Journal of International Economics, 1994, 36, (1-2), 151-165 View citations (256)
    See also Working Paper Can the Markov Switching Model Forecast Exchange Rates?, NBER Working Papers (1992) View citations (122) (1992)

1993

64. Exchange rate regimes and volatility
    Economic Review, 1993, 78, (Q III), 43-58 View citations (12)
65. Real exchange rates and relative prices: An empirical investigation
    Journal of Monetary Economics, 1993, 32, (1), 35-50 View citations (266)
    See also Working Paper Real Exchange Rates and Relative Prices: An Empirical Investigation, NBER Working Papers (1992) View citations (2) (1992)
66. Tests of Mean-Variance Efficiency of International Equity Markets
    Oxford Economic Papers, 1993, 45, (3), 403-21 View citations (10)
    See also Working Paper Tests of mean-variance efficiency of international equity markets, Research Paper (1992) View citations (6) (1992)

1992

67. On the foreign exchange risk premium in a general equilibrium model
    Journal of International Economics, 1992, 32, (3-4), 305-319 View citations (51)
    See also Working Paper On the foreign exchange risk premium in a general equilibrium model, Research Working Paper (1990) View citations (9) (1990)
68. Relative returns on equities in Pacific Basin countries
    Proceedings, 1992, (Sep) View citations (1)
    Also in Proceedings, 1992, 48-67 (1992) View citations (1)
    See also Working Paper Relative Returns on Equities in Pacific Basin Countries, NBER Working Papers (1994) View citations (4) (1994)
69. The Risk Premium and the Liquidity Premium in Foreign Exchange Markets
    International Economic Review, 1992, 33, (4), 871-79 View citations (12)
    See also Working Paper The risk premium and the liquidity premium in foreign exchange markets, Research Working Paper (1990) (1990)

1991

70. Challenges to stock market efficiency: evidence from mean reversion studies
    Economic Review, 1991, 76, (Sep), 21-35 View citations (6)
71. Trade policy under endogenous credibility
    Journal of Development Economics, 1991, 36, (2), 213-228 View citations (5)
    See also Working Paper Trade Policy under Endogenous Credibility, NBER Working Papers (1987) View citations (2) (1987)

1990

72. Long Swings in the Dollar: Are They in the Data and Do Markets Know It?
    American Economic Review, 1990, 80, (4), 689-713 View citations (630)
73. Tariffs and saving in a model with new generations
    Journal of International Economics, 1990, 28, (1-2), 71-91 View citations (25)

1989

74. Saving and Investment in an Open Economy with Non-traded Goods
    International Economic Review, 1989, 30, (4), 735-52 View citations (48)
    See also Working Paper Saving and Investment in an Open Economy with Non-Traded Goods, NBER Working Papers (1987) View citations (8) (1987)
75. Tests of International CAPM with Time-Varying Covariances
    Journal of Applied Econometrics, 1989, 4, (2), 119-38 View citations (93)
    See also Working Paper Tests of International CAPM with Time-Varying Covariances, NBER Working Papers (1987) View citations (7) (1987)
76. The trade balance and real exchange rate under currency substitution
    Journal of International Money and Finance, 1989, 8, (1), 47-58 View citations (6)

1986

77. On the correlation of exchange rates and interest rates
    Journal of International Money and Finance, 1986, 5, (1), 125-128 View citations (7)
78. The International Monetary System: Forty years after Bretton Woods: Review essay
    Journal of Monetary Economics, 1986, 17, (3), 441-448

1985

79. Exchange Rate Dynamics, Sticky Prices and the Current Account
    Journal of Money, Credit and Banking, 1985, 17, (3), 312-27 View citations (8)

1984

80. Do asset-demand functions optimize over the mean and variance of real returns? A six-currency test
    Journal of International Economics, 1984, 17, (3-4), 309-323 View citations (76)
    See also Working Paper Do Asset-Demand Functions Optimize over the Mean and Variance of Real Returns? A Six-Currency Test, NBER Working Papers (1982) View citations (3) (1982)
81. Testing for the absence of expected real profits from forward market speculation
    Journal of International Economics, 1984, 17, (3-4), 299-308 View citations (26)
82. The secular inflation term in open-economy Phillips curves
    European Economic Review, 1984, 24, (2), 161-164 View citations (2)

1982

83. Why money announcements move interest rates: an answer from the foreign exchange market
    Proceedings, 1982, (6), 1-36 View citations (9)
    See also Working Paper Why Money Announcements Move Interest Rates: An Answer from the Foreign Exchange Market, NBER Working Papers (1982) View citations (14) (1982)

Books

2018

1. NBER International Seminar on Macroeconomics 2017
   NBER Books, National Bureau of Economic Research, Inc

2012

2. Global Financial Crisis
   NBER Books, National Bureau of Economic Research, Inc View citations (97)

Chapters

2021

1. A Reconsideration of the Failure of Uncovered Interest Parity for the US Dollar
   A chapter in NBER International Seminar on Macroeconomics 2021, 2021 View citations (3)
   See also Journal Article A reconsideration of the failure of uncovered interest parity for the U.S. dollar, Elsevier (2022) View citations (14) (2022)
   Working Paper A Reconsideration of the Failure of Uncovered Interest Parity for the U.S. Dollar, National Bureau of Economic Research, Inc (2021) View citations (4) (2021)

2020

2. Comments on “Digital Money: Private versus Public”
   Chapter 7 in DIGITAL CURRENCY ECONOMICS AND POLICY, 2020, pp 51-54
3. Lessons for Cryptocurrencies from Foreign Exchange Markets
   Chapter 8 in DIGITAL CURRENCY ECONOMICS AND POLICY, 2020, pp 55-78

2018

4. Revisiting exchange rate puzzles
   A chapter in The price, real and financial effects of exchange rates, 2018, vol. 96, pp 3-11

2015

5. Macroprudential Policy under High Capital Mobility: Policy Implications from an Academic Perspective
   A chapter in International Finance in the Global Markets, 2015 View citations (8)
   See also Journal Article Macroprudential policy under high capital mobility: policy implications from an academic perspective, Elsevier (2016) View citations (28) (2016)

2014

6. Exchange Rates and Interest Parity
   Elsevier View citations (158)
   See also Working Paper Exchange Rates and Interest Parity, National Bureau of Economic Research, Inc (2013) View citations (35) (2013)

2013

7. Inflation and globalisation: a modelling perspective
   A chapter in Globalisation and inflation dynamics in Asia and the Pacific, 2013, vol. 70, pp 99-108 View citations (8)

2012

8. Capital controls: what have we learned?
   A chapter in Challenges related to capital flows: Latin American perspectives, 2012, vol. 68, pp 22-26 View citations (2)

2011

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

2010

11. Exchange rate policies
    A chapter in The international financial crisis and policy challenges in Asia and the Pacific, 2010, vol. 52, pp 229-250 View citations (15)
    See also Journal Article Exchange rate policies, Federal Reserve Bank of Dallas (2009) View citations (2) (2009)

2009

12. Comment on "Real Variables, Nonlinearity, and European Real Exchange Rates"
    A chapter in NBER International Seminar on Macroeconomics 2008, 2009, pp 194-196
13. Expectations, Monetary Policy, and the Misalignment of Traded Goods Prices
    A chapter in NBER International Seminar on Macroeconomics 2007, 2009, pp 131-157 View citations (3)

2008

14. Exchange Rate Models Are Not as Bad as You Think
    A chapter in NBER Macroeconomics Annual 2007, Volume 22, 2008, pp 381-441 View citations (138)
    See also Working Paper Exchange Rate Models Are Not as Bad as You Think, National Bureau of Economic Research, Inc (2007) View citations (350) (2007)

2005

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

2003

16. Expenditure Switching and Exchange-Rate Policy
    A chapter in NBER Macroeconomics Annual 2002, Volume 17, 2003, pp 231-300 View citations (27)
    See also Working Paper Expenditure Switching and Exchange Rate Policy, National Bureau of Economic Research, Inc (2002) View citations (119) (2002)

2001

17. The Optimal Choice of Exchange Rate Regime: Price-Setting Rules and Internationalized Production
    A chapter in Topics in Empirical International Economics: A Festschrift in Honor of Robert E. Lipsey, 2001, pp 163-194 View citations (7)
    See also Working Paper The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production, University of Washington, Department of Economics (2000) View citations (8) (2000)

1998

18. Regional Patterns in the Law of One Price: The Roles of Geography versus Currencies
    A chapter in The Regionalization of the World Economy, 1998, pp 153-188 View citations (34)

1994

19. Tests of CAPM on an International Portfolio of Bonds and Stocks
    A chapter in The Internationalization of Equity Markets, 1994, pp 149-183 View citations (16)
    See also Working Paper Tests of CAPM on an International Portfolio of Bonds and Stocks, National Bureau of Economic Research, Inc (1993) View citations (4) (1993)

Editor

1. Journal of International Economics
   Elsevier