Details about Maurice Obstfeld

E-mail:
Homepage:	http://mauriceobstfeld.com
Workplace:	Department of Economics, University of California-Berkeley, (more information at EDIRC)

Access statistics for papers by Maurice Obstfeld.

Last updated 2022-12-22. Update your information in the RePEc Author Service.

Short-id: pob13

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Working Papers

2022

1. The international financial system after COVID-19
   Working Paper Series, Peterson Institute for International Economics

2021

2. An uneven global rebound will challenge emerging-market and developing economies
   Policy Briefs, Peterson Institute for International Economics View citations (1)
3. Lessons of Keynes’s Economic Consequences in a Turbulent Century
   CEPR Discussion Papers, C.E.P.R. Discussion Papers
   Also in Janeway Institute Working Papers, Faculty of Economics, University of Cambridge (2021)
   Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge (2021)

2020

4. Harry Johnson's "case for flexible exchange rates"—50 years later
   Working Paper Series, Peterson Institute for International Economics View citations (1)
5. Harry Johnson’s “Case for Flexible Exchange Rates” – 50 Years Later
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
   See also Journal Article in Manchester School (2020)

2019

6. Covered Interest Parity Deviations: Macrofinancial Determinants
   IMF Working Papers, International Monetary Fund View citations (10)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2019) View citations (14)
   NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (10)
   See also Chapter (2020)
   Journal Article in Journal of International Economics (2021)
7. Global Dimensions of U.S. Monetary Policy
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)
   Also in Working Paper Series, Peterson Institute for International Economics (2019) View citations (13)
   NBER Working Papers, National Bureau of Economic Research, Inc (2019) View citations (7)
   See also Journal Article in International Journal of Central Banking (2020)
8. REVISITING THE ECONOMIC CASE FOR FISCAL UNION IN THE EURO AREA
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
   Also in IMF Departmental Papers / Policy Papers, International Monetary Fund (2018) View citations (9)
   See also Journal Article in IMF Economic Review (2019)

2018

9. China's Bond Market and Global Financial Markets
   IMF Working Papers, International Monetary Fund View citations (1)
10. Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (12)
    See also Journal Article in AEA Papers and Proceedings (2018)
11. Twenty Five Years of Global Imbalances
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)

2017

12. A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (42)
    Also in IMF Working Papers, International Monetary Fund (2017) View citations (42)
    See also Journal Article in The Review of Economics and Statistics (2019)
13. International Monetary Relations: Taking Finance Seriously
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (21)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2017) View citations (21)
    See also Journal Article in Journal of Economic Perspectives (2017)
14. Revisiting Speculative Hyperinflations in Monetary Models
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)
    See also Journal Article in Review of Economic Dynamics (2021)

2016

15. How to Improve Inflation Targeting in Canada
    IMF Working Papers, International Monetary Fund View citations (9)
16. Macroeconomic Management When Policy Space is Constrained: A Comprehensive, Consistent and Coordinated Approach to Economic Policy
    IMF Staff Discussion Notes, International Monetary Fund View citations (4)

2015

17. Trilemmas and trade-offs: living with financial globalisation
    BIS Working Papers, Bank for International Settlements View citations (86)
    See also Chapter (2021)

2014

18. In Search of the Armington Elasticity
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (62)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (122)
    See also Journal Article in The Review of Economics and Statistics (2018)
19. Never Say Never: Commentary on a Policymaker’s Reflections
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (14)
    See also Journal Article in IMF Economic Review (2014)
20. The Euro and The Geography of International Debt Flows
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2014) View citations (42)
    Working Paper Series, Federal Reserve Bank of San Francisco (2014) View citations (26)
    See also Chapter (2013)
    Journal Article in Journal of the European Economic Association (2016)

2013

21. Economie internationale, 9e édition
    Post-Print, HAL
    Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2013)
    Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2013)
22. Finance at Center Stage: Some Lessons of the Euro Crisis
    European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission View citations (61)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2013) View citations (62)
23. On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (27)
    Also in IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan (2013) View citations (26)
    See also Journal Article in Monetary and Economic Studies (2013)

2012

24. Does the Current Account Still Matter?
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (210)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (215)
    See also Journal Article in American Economic Review (2012)
25. The Case for Open-Market Purchases in a Liquidity Trap
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2012) View citations (1)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2012) View citations (1)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2004) View citations (8)
    Macroeconomics, University Library of Munich, Germany (2004) View citations (12)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (11)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (37)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2012)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (10)
    See also Journal Article in American Economic Review (2005)
26. Économie internationale
    Post-Print, HAL View citations (1)
    Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2012) View citations (1)
    Post-Print, HAL (2009)
    Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2009)
    Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL (2012) View citations (1)

2011

27. Financial Flows, Financial Crises, and Global Imbalances
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (18)
    See also Journal Article in Journal of International Money and Finance (2012)
28. International Liquidity: The Fiscal Dimension
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (28)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (31)
29. Stories of the Twentieth Century for the Twenty-First
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley View citations (20)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2011) View citations (31)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (27)
    See also Journal Article in American Economic Journal: Macroeconomics (2012)
30. The International Monetary System: Living with Asymmetry
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (5)
    See also Chapter (2013)

2009

31. Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (176)
    See also Journal Article in American Economic Review (2009)
32. Global Imbalances and the Financial Crisis: Products of Common Causes
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (220)
    See also Journal Article in Proceedings (2009)
33. International Finance and Growth in Developing Countries: What Have We Learned?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (151)
34. Lenders of Last Resort in a Globalized World
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (23)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2009) View citations (23)
35. Time of Troubles: The Yen and Japan's Economy, 1985-2008
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)

2008

36. Financial Stability, the Trilemma, and International Reserves
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (83)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (70)
    See also Journal Article in American Economic Journal: Macroeconomics (2010)

2007

37. The Renminbi's Dollar Peg at the Crossroads
    IMES Discussion Paper Series, Institute for Monetary and Economic Studies, Bank of Japan View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2006) View citations (7)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2006) View citations (2)
    See also Journal Article in Monetary and Economic Studies (2007)

2006

38. Implications for the Yen of Japanese Current Account Adjustment
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley View citations (4)
    See also Journal Article in Monetary and Economic Studies (2006)
39. Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)

2005

40. America’s Deficit, the World’s Problem
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley View citations (2)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2005) View citations (4)
41. Monetary Policy in the Open Economy Revisited: The Case for Exchange-Rate Flexibility Restored
    2005 Meeting Papers, Society for Economic Dynamics View citations (27)
    See also Journal Article in Journal of International Money and Finance (2008)
42. The Unsustainable US Current Account Position Revisited
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (55)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (174)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2005) View citations (51)
    Working Paper, Harvard University OpenScholar View citations (312)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2005) View citations (33)
    See also Chapter (2007)
    Journal Article in Proceedings (2005)

2004

43. External Adjustment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (76)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2004) View citations (74)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (73)
    See also Journal Article in Review of World Economics (Weltwirtschaftliches Archiv) (2004)
44. Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley View citations (36)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2004) View citations (36)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (33)
45. Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (89)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (90)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2004) View citations (91)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (89)
    International Finance, University Library of Munich, Germany (2004) View citations (72)
    See also Journal Article in IMF Staff Papers (2004)
46. Monetary and Fiscal Remedies for Deflation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    See also Journal Article in American Economic Review (2004)
47. The Trilemma in History: Trade-offs Among Exchange Rates, Monetary Policies and Capital Mobility
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (42)
    Also in Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2004) View citations (58)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2004) View citations (41)
    NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (63)
    International Finance, University Library of Munich, Germany (2004) View citations (41)
    See also Journal Article in The Review of Economics and Statistics (2005)

2003

48. Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics
    International Finance, University Library of Munich, Germany View citations (5)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2002) View citations (75)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2002) View citations (96)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2002) View citations (100)
    NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (99)
    See also Journal Article in Monetary and Economic Studies (2002)
49. Global Implications of Self-Oriented National Monetary Rules
    Macroeconomics, University Library of Munich, Germany View citations (31)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2001) View citations (34)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations (2)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2001) View citations (12)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2001) View citations (11)
    See also Journal Article in The Quarterly Journal of Economics (2002)
50. International Macroeconomics: Beyond the Mundell-Fleming Model
    International Finance, University Library of Munich, Germany View citations (5)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2001) View citations (134)
    NBER Working Papers, National Bureau of Economic Research, Inc (2001) View citations (125)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2001) View citations (108)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2001) View citations (125)
51. Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (80)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2003) View citations (51)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2003) View citations (64)
    NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (2)
    International Trade, University Library of Munich, Germany (2003) View citations (68)
    See also Journal Article in Economic Journal (2003)

2002

52. Globalization and Capital Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (155)
    See also Chapter (2003)

2001

53. Perspectives on OECD Economic Integration: Implications for US Current Account Adjustment
    International Trade, University Library of Munich, Germany View citations (26)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2000) View citations (61)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2000) View citations (85)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2000) View citations (87)
    See also Journal Article in Proceedings - Economic Policy Symposium - Jackson Hole (2000)
54. The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
    International Trade, University Library of Munich, Germany View citations (545)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2000) View citations (1580)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (2000) View citations (1566)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (2000) View citations (1357)
    Working Paper, Harvard University OpenScholar View citations (1638)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (2000) View citations (1518)
    See also Chapter (2001)

2000

55. Do We Really Need a New International Monetary Compact?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
56. EMU: Ready, or Not?
    International Trade, University Library of Munich, Germany
    Also in Princeton Essays in International Economics, International Economics Section, Departement of Economics Princeton University, (1998) View citations (15)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (6)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1998) View citations (26)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (26)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1998) View citations (29)
57. New Directions for Stochastic Open Economy Models
    International Finance, University Library of Munich, Germany View citations (586)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (52)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1999) View citations (53)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1999) View citations (55)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1999) View citations (48)
    See also Journal Article in Journal of International Economics (2000)
58. The Global Capital Market: Benefactor or Menace?
    International Finance, University Library of Munich, Germany View citations (1)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (340)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1998) View citations (308)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1998) View citations (328)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (328)
    See also Journal Article in Journal of Economic Perspectives (1998)

1999

59. A Strategy for Launching the Euro
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (8)
    See also Journal Article in European Economic Review (1998)
60. Open-Economy Macroeconomics, Developments in Theory and Policy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    Also in Working Paper, Economics Department, Queen's University (1997) View citations (7)
    See also Journal Article in Scandinavian Journal of Economics (1998)
61. Regional Nonadjustment and Fiscal Policy: Lessons for EMU
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (24)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1998) View citations (21)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (30)

1998

62. Foreign Resource Inflows, Saving, and Growth
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics View citations (9)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1998) View citations (11)
63. Risk and Exchange Rate
    Working Papers, Princeton, Woodrow Wilson School - Public and International Affairs View citations (70)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1998) View citations (231)

1997

64. Dynamic Seigniorage Theory: An Exploration
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics View citations (12)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1997) View citations (14)
    NBER Working Papers, National Bureau of Economic Research, Inc (1989) View citations (3)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (22)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1997) View citations (18)
65. Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (373)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (269)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (399)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1997) View citations (339)
    See also Journal Article in Journal of the Japanese and International Economies (1997)
66. Saving, Investment, and Gold: A Reassessment of Historical Current Account Data
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (35)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (35)
67. The Great Depression as a Watershed: International Capital Mobility over the Long Run
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (71)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1997) View citations (43)
    See also Chapter (1998)

1996

68. Destabilizing Effects of Exchange-Rate Escape Clauses
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (25)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1996) View citations (5)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1996) View citations (5)
    NBER Working Papers, National Bureau of Economic Research, Inc (1991) View citations (38)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1991) View citations (28)
    See also Journal Article in Journal of International Economics (1997)
69. Intertemporal Price Speculation and the Optimal Current-Account Deficit: Reply and Clarification
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics View citations (8)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1996) View citations (6)
    Center for International and Development Economics Research, Working Paper Series, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley (1996) View citations (6)
    See also Journal Article in Journal of International Money and Finance (1996)
70. Models of Currency Crises with Self-fulfilling Features
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (605)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1995) View citations (58)
    See also Journal Article in European Economic Review (1996)

1995

71. Evaluating Risky Consumption Paths: The Role of Intertemporal Substitutability
    NBER Technical Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article in European Economic Review (1994)
72. Exchange Rate Dynamics Redux
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1443)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1995) View citations (1420)
    NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations (13)
    Scholarly Articles, Harvard University Department of Economics (1995) View citations (1472)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1995) View citations (1490)
    See also Journal Article in Journal of Political Economy (1995)
73. The Mirage of Fixed Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (520)
    Also in Working Papers in Applied Economic Theory, Federal Reserve Bank of San Francisco (1995) View citations (481)
    See also Journal Article in Journal of Economic Perspectives (1995)

1994

74. International Capital Mobility in the 1990s
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics View citations (37)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1993) View citations (27)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1994) View citations (21)
    International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1994) View citations (7)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1994) View citations (23)
75. The Intertemporal Approach to the Current Account
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (72)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1994) View citations (75)
    NBER Working Papers, National Bureau of Economic Research, Inc (1994) View citations (132)
    See also Chapter (1995)
76. The Logic of Currency Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (548)

1993

77. Are Industrial-Country Consumption Risks Globally Diversified?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (144)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1993) View citations (41)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1993) View citations (22)
78. Model Trending Real Exchange Rates
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics View citations (86)
    Also in Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley (1993) View citations (63)
79. Risk-Taking, Global Diversification, and Growth
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (1)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1992) View citations (12)
    Discussion Paper / Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis (1992) View citations (8)
    NBER Working Papers, National Bureau of Economic Research, Inc (1992) View citations (25)
    Center for International and Development Economics Research (CIDER) Working Papers, University of California-Berkeley, Department of Economics (1993) View citations (18)
    See also Journal Article in American Economic Review (1994)

1992

80. International Adjustment with Habit-Forming Consumption: A Diagrammatic Exposition
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article in Review of International Economics (1992)
81. The Adjustment Mechanism
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (2)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1991) View citations (8)
    See also Chapter (1993)

1991

82. Exchange Rate Dynamics Under Stochastic Regime Shifts: A Unified Approach
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (109)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1989) View citations (35)
    See also Journal Article in Journal of International Economics (1991)

1990

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

1989

84. Commodity Trade and International Risk Sharing: How Much Do Financial Markets Matter?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (213)
    See also Journal Article in Journal of Monetary Economics (1991)
85. Intertemporal Dependence, Impatience, and Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article in Journal of Monetary Economics (1990)
86. Intrinsic Bubbles: The Case of Stock Prices
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    See also Journal Article in American Economic Review (1991)
87. Stochastic Process Switching: Some Simple Solutions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    See also Journal Article in Econometrica (1991)

1988

88. Competitiveness, Realignment, and Speculation: The Role of Financial Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
89. Exchange-Rate Dynamics and Optimal Asset Accumulation Revisited
    NBER Technical Working Papers, National Bureau of Economic Research, Inc
90. Fiscal Deficits and Relative Prices in a Growing World Economy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    See also Journal Article in Journal of Monetary Economics (1989)
91. The Effectiveness of Foreign-Exchange Intervention: Recent Experience
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)

1987

92. Peso Problems, Bubbles, and Risk in the Empirical Assessment of Exchange-Rate Behavior
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

1986

93. How Integrated are World Capital Markets? Some New Tests
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (28)
94. International Finance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)

1985

95. Capital Mobility in the World Economy: Theory and Measurement
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (139)
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (1986)
96. Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
97. Ruling Out Nonstationary Speculative Bubbles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

1984

98. Capital Controls, The Dual Exchange Rate, and Devaluation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Journal Article in Journal of International Economics (1986)
99. Capital Flows, the Current Account, and the Real Exchange Rate: Consequences of Liberalization and Stabilization
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
100. Rational and Self-Fulfilling Balance-of-Payments Crises
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (213)
     See also Journal Article in American Economic Review (1986)
101. Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
     See also Journal Article in Canadian Journal of Economics (1986)
102. The Capital Inflows Problem Revisited: A Stylized Model of Southern Cone Disinflation
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
     See also Journal Article in Review of Economic Studies (1985)

1983

103. Balance-of-Payments Crises and Devaluation
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
     See also Journal Article in Journal of Money, Credit and Banking (1984)
104. Exchange Rate Dynamics With Sluggish Prices Under Alternative Price-Adjustment Rules
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
     Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1983) View citations (2)
     See also Journal Article in International Economic Review (1984)
105. Exchange-Rate Dynamics
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (67)
     See also Chapter (1985)
106. Intertemporal Price Speculation and the Optimal Current-Account Deficit
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)
     See also Journal Article in Journal of International Money and Finance (1983)
107. Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?
     Scholarly Articles, Harvard University Department of Economics View citations (211)
     Also in NBER Working Papers, National Bureau of Economic Research, Inc (1982) View citations (100)
     International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1981) View citations (2)
     See also Journal Article in Journal of Political Economy (1983)
108. Two-Step Two-Stage Least Squares Estimation in Models with Rational Expectations
     NBER Technical Working Papers, National Bureau of Economic Research, Inc View citations (87)
     See also Journal Article in Journal of Econometrics (1983)

1982

109. Can We Sterilize? Theory and Evidence
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)
     See also Journal Article in American Economic Review (1982)
110. Exchange Rates, Inflation and the Sterilization Problem: Germany, 1975-1981
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
     See also Journal Article in European Economic Review (1983)
111. International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates: A Review of Recent Evidence
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
     See also Chapter (1984)
112. Transitory Terms-of-Trade Shocks and the Current Account: The Case of Constant Time Preference
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
     Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1981)

1981

113. Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
     See also Journal Article in The Quarterly Journal of Economics (1982)
114. Capital Mobility and the Scope for Sterilization: Mexico in the 1970s
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
     Also in International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) (1981) View citations (4)
     See also Chapter (1983)
115. Inflation, Real Interest, and the Determinacy of Equilibrium in an Optimizing Framework
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
116. Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
     See also Journal Article in Econometrica (1982)

1980

117. Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
     See also Journal Article in American Economic Review (1981)
118. Exchange-Rate Expectations and Nominal Interest Differentials: A Test ofthe Fisher Hypothesis
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
119. Imperfect Asset Substitutability and Monetary Policy under Fixed Exchange Rates
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
     See also Journal Article in Journal of International Economics (1980)
120. Intermediate Imports, the Terms of Trade, and the Dynamics of the Exchange Rate and Current Account
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
     See also Journal Article in Journal of International Economics (1980)
121. Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
     See also Journal Article in Journal of Political Economy (1981)
122. Sterilization and Offsetting Capital Movements: Evidence from West Germany, 1960-1970
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
123. The Capitalization of Income Streams and the Effects of Open Market Policy under Fixed Exchange Rates
     NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
     See also Journal Article in Journal of Monetary Economics (1982)

Undated

124. Perspectives on OECD Capital Market Integration: Implications for U.S. Current Account Adjustment
     Working Paper, Harvard University OpenScholar View citations (9)

Journal Articles

2021

1. Covered interest parity deviations: Macrofinancial determinants
   Journal of International Economics, 2021, 130, (C) View citations (4)
   See also Working Paper (2019)
   Chapter (2020)
2. Globalization and nationalism: Retrospect and prospect
   Contemporary Economic Policy, 2021, 39, (4), 675-690 View citations (2)
3. Reprint: Two challenges from globalization
   Journal of International Money and Finance, 2021, 114, (C) View citations (3)
4. Revisiting speculative hyperinflations in monetary models
   Review of Economic Dynamics, 2021, 40, 1-11 View citations (2)
   See also Working Paper (2017)
5. Two challenges from globalization
   Journal of International Money and Finance, 2021, 110, (C) View citations (3)

2020

6. Comment
   NBER Macroeconomics Annual, 2020, 34, (1), 380 - 388
7. Global Dimensions of U.S. Monetary Policy
   International Journal of Central Banking, 2020, 16, (1), 73-132 View citations (8)
   See also Working Paper (2019)
8. Globalization Cycles
   Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, 2020, 6, (1), 1-12
9. Harry Johnson's “Case for flexible exchange rates”—50 years later
   Manchester School, 2020, 88, (S1), 86-113 View citations (1)
   See also Working Paper (2020)

2019

10. A Tie That Binds: Revisiting the Trilemma in Emerging Market Economies
    The Review of Economics and Statistics, 2019, 101, (2), 279-293 View citations (51)
    See also Working Paper (2017)
11. Revisiting the Economic Case for Fiscal Union in the Euro Area
    IMF Economic Review, 2019, 67, (3), 657-683 View citations (5)
    See also Working Paper (2019)

2018

12. Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets
    AEA Papers and Proceedings, 2018, 108, 499-504 View citations (12)
    See also Working Paper (2018)
13. In Search of the Armington Elasticity
    The Review of Economics and Statistics, 2018, 100, (1), 135-150 View citations (52)
    See also Working Paper (2014)

2017

14. International Monetary Relations: Taking Finance Seriously
    Journal of Economic Perspectives, 2017, 31, (3), 3-28 View citations (21)
    See also Working Paper (2017)

2016

15. THE EURO AND THE GEOGRAPHY OF INTERNATIONAL DEBT FLOWS
    Journal of the European Economic Association, 2016, 14, (1), 115-144 View citations (67)
    Also in Journal of the European Economic Association, 2016, 14, (1), 115-144 (2016) View citations (62)
    See also Working Paper (2014)
    Chapter (2013)
16. The Initial Economic Impact of Brexit: An Update to Early December 2016
    Brookings Papers on Economic Activity, 2016, 47, (2 (Fall)), 359-366 View citations (1)

2014

17. Guest Editors’ Preface to the Special Issue on International Financial Linkages and Crises
    Scandinavian Journal of Economics, 2014, 116, (1), 1-4
18. Never Say Never: Commentary on a Policymaker’s Reflections
    IMF Economic Review, 2014, 62, (4), 656-693 View citations (14)
    See also Working Paper (2014)
19. On the use of open economy new Keynesian models to evaluate policy rules
    Journal of Economic Dynamics and Control, 2014, 49, (C), 31-34 View citations (3)

2013

20. Crises and the International System
    International Economic Journal, 2013, 27, (2), 143-155 View citations (6)
21. On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability
    Monetary and Economic Studies, 2013, 31, 25-38 View citations (20)
    See also Working Paper (2013)

2012

22. Does the Current Account Still Matter?
    American Economic Review, 2012, 102, (3), 1-23 View citations (210)
    See also Working Paper (2012)
23. Financial flows, financial crises, and global imbalances
    Journal of International Money and Finance, 2012, 31, (3), 469-480 View citations (112)
    See also Working Paper (2011)
24. Stories of the Twentieth Century for the Twenty-First
    American Economic Journal: Macroeconomics, 2012, 4, (1), 226-65 View citations (479)
    See also Working Paper (2011)

2011

25. Expansión de las posiciones brutas de activos y el sistema monetario internacional
    Boletín, 2011, LVII, (1), 31-39
26. Keynote Speech: International Liquidity: The Fiscal Dimension
    Monetary and Economic Studies, 2011, 29, 33-48 View citations (16)

2010

27. Expanding gross asset positions and the international monetary system
    Proceedings - Economic Policy Symposium - Jackson Hole, 2010, 463-478 View citations (2)
28. Financial Stability, the Trilemma, and International Reserves
    American Economic Journal: Macroeconomics, 2010, 2, (2), 57-94 View citations (225)
    See also Working Paper (2008)
29. The immoderate world economy
    Journal of International Money and Finance, 2010, 29, (4), 603-614 View citations (13)

2009

30. 2009 International Conference "Financial System and Monetary Policy Implementation," Keynote Speech, Lenders of Last Resort in a Globalized World
    Monetary and Economic Studies, 2009, 27, (1), 35-52 View citations (4)
31. Asia, the financial crisis, and global economic governance - closing remarks
    Proceedings, 2009, (Oct), 347-353
32. Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
    American Economic Review, 2009, 99, (2), 480-86 View citations (182)
    See also Working Paper (2009)
33. Global imbalances and the financial crisis: products of common causes
    Proceedings, 2009, (Oct), 131-172 View citations (127)
    See also Working Paper (2009)
34. International Finance and Growth in Developing Countries: What Have We Learned&quest
    IMF Staff Papers, 2009, 56, (1), 63-111 View citations (149)

2008

35. Concluding Remarks
    Monetary and Economic Studies, 2008, 26, 49-58
36. Monetary policy in the open economy revisited: The case for exchange-rate flexibility restored
    Journal of International Money and Finance, 2008, 27, (6), 949-957 View citations (51)
    See also Working Paper (2005)

2007

37. The Fourteenth International Conference "Growth, Integration and Monetary Policy in East Asia," Concluding Panel Discussion: Growth, Integration, and Monetary Policy in East Asia
    Monetary and Economic Studies, 2007, 25, (S1), 233-260
38. The Renminbi's Dollar Peg at the Crossroads
    Monetary and Economic Studies, 2007, 25, (S1), 29-56 View citations (1)
    See also Working Paper (2007)

2006

39. Implications for the Yen of Japanese Current Account Adjustment
    Monetary and Economic Studies, 2006, 24, (S1), 27-38 View citations (4)
    See also Working Paper (2006)
40. The Thirteenth International Conference "Financial Markets and the Real Economy in a Low Interest Rate Environment," Concluding Panel Discussion: Financial Markets and the Real Economy in a Low Interest Rate Environment
    Monetary and Economic Studies, 2006, 24, (S1), 235-272

2005

41. America's Deficit, the World's Problem: Keynote Speech
    Monetary and Economic Studies, 2005, 23, (S1), 25-35 View citations (3)
42. Comment on: "Rational speculation and exchange rates"
    Journal of Monetary Economics, 2005, 52, (1), 31-33
43. Global Current Account Imbalances and Exchange Rate Adjustments
    Brookings Papers on Economic Activity, 2005, 36, (1), 67-146 View citations (423)
44. Optimal fiscal policy in a monetary union - comments
    Proceedings, 2005
45. The Case for Open-Market Purchases in a Liquidity Trap
    American Economic Review, 2005, 95, (1), 110-137 View citations (133)
    Also in Proceedings, 2003, (Mar) (2003) View citations (30)
    See also Working Paper (2012)
46. The Trilemma in History: Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility
    The Review of Economics and Statistics, 2005, 87, (3), 423-438 View citations (387)
    See also Working Paper (2004)
47. The Twelfth International Conference "Incentive Mechanisms for Economic Policymakers," Concluding Panel Discussion: Macroeconomic Policy and Central Banking
    Monetary and Economic Studies, 2005, 23, (S1), 233-260
48. The unsustainable U.S. current account position revisited
    Proceedings, 2005 View citations (35)
    Also in Proceedings, 2005, (Feb) (2005) View citations (41)
    See also Chapter (2007)
    Working Paper (2005)

2004

49. "Challenges for Sustained Economic Growth under Changing Economic, Social, and International Environments," Concluding Panel Discussion: Sustained Economic Growth and Central Banking
    Monetary and Economic Studies, 2004, 22, (S1), 217-248
50. External adjustment
    Review of World Economics (Weltwirtschaftliches Archiv), 2004, 140, (4), 541-568 View citations (39)
    See also Working Paper (2004)
51. Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies: Keynote Speech
    Monetary and Economic Studies, 2004, 22, (S1), 29-55 View citations (23)
52. Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period
    IMF Staff Papers, 2004, 51, (s1), 75-108 View citations (91)
    See also Working Paper (2004)
53. Monetary and Fiscal Remedies for Deflation
    American Economic Review, 2004, 94, (2), 71-75 View citations (11)
    See also Working Paper (2004)

2003

54. Sovereign risk, credibility and the gold standard: 1870-1913 versus 1925-31
    Economic Journal, 2003, 113, (487), 241-275 View citations (63)
    See also Working Paper (2003)

2002

55. "Exchange Rate Regimes in the 21st Century," Concluding Panel Discussion: The Role of Central Banks in Exchange Rate Regimes in the 21st Century
    Monetary and Economic Studies, 2002, 20, (S1), 241-274
56. Exchange Rates and Adjustment: Perspectives from the New Open- Economy Macroeconomics
    Monetary and Economic Studies, 2002, 20, (S1), 23-46 View citations (91)
    See also Working Paper (2003)
57. Global Implications of Self-Oriented National Monetary Rules
    The Quarterly Journal of Economics, 2002, 117, (2), 503-535 View citations (301)
    See also Working Paper (2003)
58. Inflation-Targeting, Exchange-Rate Pass-Through, and Volatility
    American Economic Review, 2002, 92, (2), 102-107 View citations (25)

2000

59. New directions for stochastic open economy models
    Journal of International Economics, 2000, 50, (1), 117-153 View citations (596)
    See also Working Paper (2000)
60. Perspectives on OECD economic integration: implications for U.S. current account adjustment
    Proceedings - Economic Policy Symposium - Jackson Hole, 2000, 169-208 View citations (40)
    See also Working Paper (2001)

1998

61. A strategy for launching the Euro
    European Economic Review, 1998, 42, (6), 975-1007 View citations (13)
    See also Working Paper (1999)
62. Financial shocks and business cycles: lessons form outside the United States
    Conference Series ; [Proceedings], 1998, 42, (Jun), 187-193
63. Open‐Economy Macroeconomics: Developments in Theory and Policy
    Scandinavian Journal of Economics, 1998, 100, (1), 247-275
    See also Working Paper (1999)
64. Regional non-adjustment and fiscal policy
    Economic Policy, 1998, 13, (26), 206-259 View citations (174)
65. The Global Capital Market: Benefactor or Menace?
    Journal of Economic Perspectives, 1998, 12, (4), 9-30 View citations (328)
    See also Working Paper (2000)

1997

66. DYNAMIC SEIGNIORAGE THEORY
    Macroeconomic Dynamics, 1997, 1, (3), 588-614 View citations (22)
67. Destabilizing effects of exchange-rate escape clauses
    Journal of International Economics, 1997, 43, (1-2), 61-77 View citations (87)
    See also Working Paper (1996)
68. Europe's Gamble
    Brookings Papers on Economic Activity, 1997, 28, (2), 241-317 View citations (31)
69. Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited
    Journal of the Japanese and International Economies, 1997, 11, (4), 441-479 View citations (434)
    See also Working Paper (1997)

1996

70. Intertemporal price speculation and the optimal current-account deficit: reply and clarification
    Journal of International Money and Finance, 1996, 15, (1), 141-147 View citations (7)
    See also Working Paper (1996)
71. Models of currency crises with self-fulfilling features
    European Economic Review, 1996, 40, (3-5), 1037-1047 View citations (628)
    See also Working Paper (1996)

1995

72. Exchange Rate Dynamics Redux
    Journal of Political Economy, 1995, 103, (3), 624-60 View citations (1439)
    See also Working Paper (1995)
73. Intenational Currency Experience: New Lessons and Lessons Relearned
    Brookings Papers on Economic Activity, 1995, 26, (1, 25th Anniversary Issue), 119-220 View citations (9)
74. The Mirage of Fixed Exchange Rates
    Journal of Economic Perspectives, 1995, 9, (4), 73-96 View citations (523)
    See also Working Paper (1995)

1994

75. Evaluating risky consumption paths: The role of intertemporal substitutability
    European Economic Review, 1994, 38, (7), 1471-1486 View citations (184)
    See also Working Paper (1995)
76. Risk-Taking, Global Diversification, and Growth
    American Economic Review, 1994, 84, (5), 1310-29 View citations (719)
    See also Working Paper (1993)

1992

77. International Adjustment with Habit-Forming Consumption: A Diagrammatic Exposition
    Review of International Economics, 1992, 1, (1), 32-48 View citations (14)
    See also Working Paper (1992)
78. International risk sharing and capital mobility: another look
    Journal of International Money and Finance, 1992, 11, (1), 115-121 View citations (12)

1991

79. A model of currency depreciation and the debt-inflation spiral
    Journal of Economic Dynamics and Control, 1991, 15, (1), 151-177 View citations (15)
    See also Working Paper (1990)
80. Commodity trade and international risk sharing: How much do financial markets matter?
    Journal of Monetary Economics, 1991, 28, (1), 3-24 View citations (691)
    See also Working Paper (1989)
81. Exchange-rate dynamics under stochastic regime shifts: A unified approach
    Journal of International Economics, 1991, 31, (3-4), 203-229 View citations (99)
    See also Working Paper (1991)
82. Intrinsic Bubbles: The Case of Stock Prices
    American Economic Review, 1991, 81, (5), 1189-214 View citations (294)
    See also Working Paper (1989)
83. Stochastic Process Switching: Some Simple Solutions
    Econometrica, 1991, 59, (1), 241-50 View citations (50)
    See also Working Paper (1989)

1990

84. Intertemporal dependence, impatience, and dynamics
    Journal of Monetary Economics, 1990, 26, (1), 45-75 View citations (169)
    See also Working Paper (1989)
85. Time Consistency of Fiscal and Monetary Policy: A Comment
    Econometrica, 1990, 58, (5), 1245-47 View citations (14)

1989

86. Fiscal deficits and relative prices in a growing world economy
    Journal of Monetary Economics, 1989, 23, (3), 461-484 View citations (49)
    See also Working Paper (1988)
87. U.S. International capital flows: Perspectives from rational maximizing models: A comment
    Carnegie-Rochester Conference Series on Public Policy, 1989, 30, (1), 289-300

1988

88. Optimal Time-Consistent Fiscal Policy with Finite Lifetimes
    Econometrica, 1988, 56, (2), 411-32 View citations (141)
89. The advantage of tying one's hands: EMS discipline and Central Bank credibility: Francesco Giavazzi and Marco Pagano
    European Economic Review, 1988, 32, (5), 1077-1082 View citations (2)

1986

90. Capital controls, the dual exchange rate, and devaluation
    Journal of International Economics, 1986, 20, (1-2), 1-20 View citations (26)
    See also Working Paper (1984)
91. Capital mobility in the world economy: Theory and measurement
    Carnegie-Rochester Conference Series on Public Policy, 1986, 24, (1), 55-103 View citations (256)
    See also Working Paper (1985)
92. Overshooting Agricultural Commodity Markets and Public Policy: Discussion
    American Journal of Agricultural Economics, 1986, 68, (2), 420-421 View citations (4)
93. Rational and Self-fulfilling Balance-of-Payments Crises
    American Economic Review, 1986, 76, (1), 72-81 View citations (471)
    See also Working Paper (1984)
94. Ruling out divergent speculative bubbles
    Journal of Monetary Economics, 1986, 17, (3), 349-362 View citations (70)
95. Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments
    Canadian Journal of Economics, 1986, 19, (1), 1-22 View citations (51)
    See also Working Paper (1984)

1985

96. Floating Exchange Rates: Experience and Prospects
    Brookings Papers on Economic Activity, 1985, 16, (2), 369-464 View citations (118)
97. The Capital Inflows Problem Revisited: A Stylized Model of Southern Cone Disinflation
    Review of Economic Studies, 1985, 52, (4), 605-625 View citations (31)
    See also Working Paper (1984)

1984

98. Balance-of-Payments Crises and Devaluation
    Journal of Money, Credit and Banking, 1984, 16, (2), 208-17 View citations (58)
    See also Working Paper (1983)
99. Exchange Rate Dynamics with Sluggish Prices under Alternative Price-Adjustment Rules
    International Economic Review, 1984, 25, (1), 159-74 View citations (46)
    See also Working Paper (1983)
100. Multiple Stable Equilibria in an Optimizing Perfect-Foresight Model
     Econometrica, 1984, 52, (1), 223-28 View citations (21)

1983

101. Exchange rates, inflation, and the sterilization problem: Germany, 1975-1981
     European Economic Review, 1983, 21, (1-2), 161-189 View citations (22)
     See also Working Paper (1982)
102. Intertemporal price speculation and the optimal current-account deficit
     Journal of International Money and Finance, 1983, 2, (2), 135-145 View citations (34)
     See also Working Paper (1983)
103. Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?
     Journal of Political Economy, 1983, 91, (4), 675-87 View citations (229)
     See also Working Paper (1983)
104. Two-step two-stage least squares estimation in models with rational expectations
     Journal of Econometrics, 1983, 21, (3), 333-355 View citations (90)
     See also Working Paper (1983)

1982

105. Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?
     The Quarterly Journal of Economics, 1982, 97, (2), 251-270 View citations (275)
     See also Working Paper (1981)
106. Can We Sterilize? Theory and Evidence
     American Economic Review, 1982, 72, (2), 45-50 View citations (30)
     See also Working Paper (1982)
107. Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight
     Econometrica, 1982, 50, (5), 1219-42 View citations (7)
     See also Working Paper (1981)
108. The capitalization of income streams and the effects of open-market policy under fixed exchange rates
     Journal of Monetary Economics, 1982, 9, (1), 87-98 View citations (11)
     See also Working Paper (1980)

1981

109. A Note on Exchange-Rate Expectations and Nominal Interest Differentials: A Test of the Fisher Hypothesis
     Journal of Finance, 1981, 36, (3), 697-703 View citations (66)
110. Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations
     American Economic Review, 1981, 71, (2), 217-21 View citations (33)
     See also Working Paper (1980)
111. Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation
     Journal of Political Economy, 1981, 89, (6), 1142-61 View citations (113)
     See also Working Paper (1980)

1980

112. Imperfect asset substitutability and monetary policy under fixed exchange rates
     Journal of International Economics, 1980, 10, (2), 177-200 View citations (18)
     See also Working Paper (1980)
113. Intermediate imports, the terms of trade, and the dynamics of the exchange rate and current account
     Journal of International Economics, 1980, 10, (4), 461-480 View citations (19)
     See also Working Paper (1980)

Books

2020

1. How the G20 can hasten recovery from COVID-19
   PIIE Briefings, Peterson Institute for International Economics View citations (1)

2008

2. International Finance and Growth in Developing Countries
   World Bank Publications - Books, The World Bank Group View citations (27)

2005

3. Global Capital Markets
   Cambridge Books, Cambridge University Press View citations (68)
   Also in Cambridge Books, Cambridge University Press (2004) View citations (447)

1996

4. Foundations of International Macroeconomics, vol 1
   MIT Press Books, The MIT Press View citations (2852)

1983

5. Financial Policies and the World Capital Market: The Problem of Latin American Countries
   NBER Books, National Bureau of Economic Research, Inc View citations (75)

Edited books

2021

1. Bringing supply chains back to Mexico: Opportunities and obstacles
   PIIE Briefings, Peterson Institute for International Economics
2. Economic Policy in a Pandemic Age: How the World Must Prepare
   PIIE Briefings, Peterson Institute for International Economics

2012

3. Global Economic Crisis
   Books, Edward Elgar Publishing View citations (26)

2009

4. Financial Policies and the World Capital Market
   National Bureau of Economic Research Books, University of Chicago Press View citations (1)

2004

5. Money, Capital Mobility, and Trade: Essays in Honor of Robert A. Mundell, vol 1
   MIT Press Books, The MIT Press View citations (5)

Chapters

2021

1. Trilemmas and Tradeoffs: Living with Financial Globalization
   Chapter 2 in THE ASIAN MONETARY POLICY FORUM Insights for Central Banking, 2021, pp 16-84 View citations (4)
   Also in Chapter 02 in Global Liquidity, Spillovers to Emerging Markets and Policy Responses, 2015, vol. 20, pp 013-078 (2015) View citations (102)
   See also Working Paper (2015)

2020

2. Covered Interest Parity Deviations: Macrofinancial Determinants
   A chapter in NBER International Seminar on Macroeconomics 2020, 2020 View citations (3)
   See also Working Paper (2019)
   Journal Article in Journal of International Economics (2021)

2019

3. Comment on "Special Deals with Chinese Characteristics "
   A chapter in NBER Macroeconomics Annual 2019, volume 34, 2019, pp 380-388

2013

4. The Euro and the Geography of International Debt Flows
   A chapter in Sovereign Debt and Financial Crises, 2013 View citations (8)
   See also Working Paper (2014)
   Journal Article in Journal of the European Economic Association (2016)
5. The International Monetary System: Living with Asymmetry
   A chapter in Globalization in an Age of Crisis: Multilateral Economic Cooperation in the Twenty-First Century, 2013, pp 301-336 View citations (14)
   See also Working Paper (2011)

2012

6. Introduction and Overview
   Chapter 1 in Global Economic Crisis, 2012
7. Liquidity and the International Monetary System
   Chapter 23 in In the Wake of the Crisis: Leading Economists Reassess Economic Policy, 2012, vol. 1, pp 111-123

2007

8. The Unsustainable US Current Account Position Revisited
   A chapter in G7 Current Account Imbalances: Sustainability and Adjustment, 2007, pp 339-376 View citations (74)
   See also Journal Article in Proceedings (2005)
   Working Paper (2005)

2006

9. Monetary and Fiscal Policy in a Liquidity Trap
   Chapter 8 in Long-run Growth and Short-run Stabilization, 2006

2003

10. Globalization and Capital Markets
    A chapter in Globalization in Historical Perspective, 2003, pp 121-188 View citations (85)
    See also Working Paper (2002)

2001

11. The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?
    A chapter in NBER Macroeconomics Annual 2000, Volume 15, 2001, pp 339-412 View citations (485)
    See also Working Paper (2001)

1998

12. The Great Depression as a Watershed: International Capital Mobility over the Long Run
    A chapter in The Defining Moment: The Great Depression and the American Economy in the Twentieth Century, 1998, pp 353-402 View citations (83)
    See also Working Paper (1997)

1995

13. The intertemporal approach to the current account
    Chapter 34 in Handbook of International Economics, 1995, vol. 3, pp 1731-1799 View citations (362)
    See also Working Paper (1994)

1993

14. The Adjustment Mechanism
    A chapter in A Retrospective on the Bretton Woods System: Lessons for International Monetary Reform, 1993, pp 201-268 View citations (26)
    See also Working Paper (1992)

1990

15. The Effectiveness of Foreign-Exchange Intervention: Recent Experience, 1985- 1988
    A chapter in International Policy Coordination and Exchange Rate Fluctuations, 1990, pp 197-246 View citations (10)

1986

16. Capital Flows, the Current Account, and the Real Exchange Rate: Some Consequences of Stabilization and Liberalization
    A chapter in Economic Adjustment and Exchange Rates in Developing Countries, 1986, pp 201-232 View citations (10)

1985

17. Exchange-rate dynamics
    Chapter 18 in Handbook of International Economics, 1985, vol. 2, pp 917-977 View citations (22)
    See also Working Paper (1983)

1984

18. International Interest Rate and Price Level Linkages under Flexible Exchange Rates: A Review of Recent Evidence
    A chapter in Exchange Rate Theory and Practice, 1984, pp 121-152 View citations (153)
    See also Working Paper (1982)

1983

19. Capital Mobility and the Scope for Sterilization: Mexico in the 1970s
    A chapter in Financial Policies and the World Capital Market: The Problem of Latin American Countries, 1983, pp 245-276 View citations (10)
    See also Working Paper (1981)
20. Introduction to "Financial Policies and the World Capital Market: The Problem of Latin American Countries"
    A chapter in Financial Policies and the World Capital Market: The Problem of Latin American Countries, 1983, pp 1-4 View citations (16)

Undated

21. Global Economic Recovery in the Face of COVID-19
    Economic Research Institute for ASEAN and East Asia (ERIA)