Details about Richard Portes

Homepage:	http://faculty.london.edu/rportes/
Phone:	+44 20 7000 8424
Postal address:	London Business School Regent's Park London NW1 4SA United Kingdom
Workplace:	Department of Economics, London Business School (LBS), (more information at EDIRC)

Access statistics for papers by Richard Portes.

Last updated 2023-03-16. Update your information in the RePEc Author Service.

Short-id: ppo132

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Working Papers

2020

1. The global dimensions of macroprudential policy
   Report of the Advisory Scientific Committee, European Systemic Risk Board View citations (7)

2018

2. Corporate Foreign Bond Issuance and Interfirm Loans in China
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2018) View citations (11)
   IHEID Working Papers, Economics Section, The Graduate Institute of International Studies (2018) View citations (11)
3. How to Solve the Greek Debt Problem
   Policy Briefs, Peterson Institute for International Economics

2017

4. Mapping the Interconnectedness between EU Banks and Shadow Banking Entities
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (25)
   Also in ESRB Working Paper Series, European Systemic Risk Board (2017) View citations (25)
   CEPR Discussion Papers, C.E.P.R. Discussion Papers (2017) View citations (25)
5. Regime-Dependent Sovereign Risk Pricing During the Euro Crisis
   Post-Print, HAL View citations (42)
   Also in ESRB Working Paper Series, European Systemic Risk Board (2016) View citations (5)
   See also Journal Article in Review of Finance (2017)

2016

6. All's Well that Ends Well? Resolving Iceland's Failed Banks
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2014

7. Nonlinearities in Sovereign Risk Pricing: The Role of CDS Index Contracts
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (10)
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (10)
   Sciences Po publications, Sciences Po (2014) View citations (10)

2013

8. Capital controls and the resolution of failed cross-border banks: the case of Iceland
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)
9. Gambling for resurrection in Iceland: the rise and fall of the banks
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (9)

2011

10. Sovereign CDS and Bond Pricing Dynamics in the Euro-area
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (60)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2011) View citations (59)

2010

11. External Constraints on Macroeconomic Policy
    Post-Print, HAL
    Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2010)
12. Financial Crisis Issue: Introduction
    Munich Reprints in Economics, University of Munich, Department of Economics View citations (1)

2009

13. Macroeconomic Stability and Financial Regulation
    Post-Print, HAL View citations (62)
    Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2009) View citations (74)

2008

14. Costs and benefits of running an international currency
    European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission View citations (31)
15. Editors' Introduction
    Munich Reprints in Economics, University of Munich, Department of Economics
16. Editors' Introduction
    Munich Reprints in Economics, University of Munich, Department of Economics
17. Editors’ introduction
    Munich Reprints in Economics, University of Munich, Department of Economics
18. The international role of the euro: a status report
    European Economy - Economic Papers 2008 - 2015, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission View citations (23)

2007

19. Benchmark status in fixed-income asset markets
    PSE-Ecole d'économie de Paris (Postprint), HAL View citations (37)
    Also in Post-Print, HAL (2007) View citations (43)
    See also Journal Article in Journal of Business Finance & Accounting (2007)

2006

20. An Empirical Analysis of Transparency-Related Characteristics of European and US Sovereign Bond Markets
    Research Technical Papers, Central Bank of Ireland View citations (4)
21. Issues for the Europe-Asia monetary and financial dialogue
    Post-Print, HAL
22. Optimal Currency Shares in International Reserves: The Impact of the Euro and the Prospects for the Dollar
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (52)
    Also in Post-Print, HAL (2006) View citations (48)
    NBER Working Papers, National Bureau of Economic Research, Inc (2006) View citations (52)
    Working Paper Series, European Central Bank (2006) View citations (55)
    See also Journal Article in Journal of the Japanese and International Economies (2006)
23. Toward a Lender of First Resort
    IMF Working Papers, International Monetary Fund View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (2)

2005

24. The Determinants of Cross-Border Equity Flows
    Post-Print, HAL View citations (871)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1999) View citations (104)
    CEP Discussion Papers, Centre for Economic Performance, LSE (2000) View citations (32)
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library (2000) View citations (30)
    NBER Working Papers, National Bureau of Economic Research, Inc (1999) View citations (178)
    DELTA Working Papers, DELTA (Ecole normale supérieure) (2001)
    See also Journal Article in Journal of International Economics (2005)

2004

25. Dealing with Destabilizing 'Market Discipline'
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2004) View citations (4)
26. Resolution of Sovereign Debt Crises: The New Old Framework
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (6)

2002

27. Defining Benchmark Status: An Application using Euro-Area Bonds
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (23)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (28)

2001

28. A Monetary Union in Motion: the European Experience
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
29. The Determinants of Cross-Border Equity Flows: The Geography of=20 Information
    International Finance, University Library of Munich, Germany View citations (6)
30. The Euro and the International Financial System
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    See also Chapter (2002)
31. The European Contribution to International Financial Stability
    CEPR Discussion Papers, C.E.P.R. Discussion Papers

2000

32. The Determinants of Cross-Border Equity Flows: The Geography of Information
    Center for International and Development Economics Research (CIDER) Working Papers, University of California at Berkeley View citations (24)
    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 (2000) View citations (27)

1999

33. Global Financial Markets and Financial Stability: Europe's Role
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)

1998

34. The Emergence of the Euro as an International Currency
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (158)
    Also in DELTA Working Papers, DELTA (Ecole normale supérieure) (1997)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1997) View citations (13)
    CEP Discussion Papers, Centre for Economic Performance, LSE (1998) View citations (157)
    See also Journal Article in Economic Policy (1998)

1996

35. From Halifax to Lyons: What Has Been Done About Crisis Management?
    Princeton Essays in International Economics, International Economics Section, Departement of Economics Princeton University, View citations (6)
    Also in Princeton Studies in International Economics, International Economics Section, Departement of Economics Princeton University, (1996) View citations (6)
36. The Capital Structure of Firms in Central and Eastern Europe
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (49)
    Also in DELTA Working Papers, DELTA (Ecole normale supérieure) (1996)

1992

37. Eastern Germany Since Unification: Wage Subsidies Remain a Better Way
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (28)
    See also Journal Article in The Economics of Transition (1993)
38. Enterprise Debt and Economic Transformation: Financial Restructuring of the State Sector in Central and Eastern Europe
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (56)
    See also Journal Article in The Economics of Transition (1993)

1991

39. Europe After 1992: Three Essays
    Princeton Studies in International Economics, International Economics Section, Departement of Economics Princeton University,
40. The Path of Reform in Central and Eastern Europe: An Introduction
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
41. The Transition to Convertibility in Eastern Europe and the USSR
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (4)

1990

42. International Costs and Benefits from EMU
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1990) View citations (2)
43. The Price of LDC Debt
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)

1989

44. Dealing With Debt: The 1930s and the 1980s
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    Also in Economics Working Papers, University of California at Berkeley (1989) View citations (14)
    DELTA Working Papers, DELTA (Ecole normale supérieure) (1989)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (1989) View citations (16)
    Policy Research Working Paper Series, The World Bank (1989) View citations (12)
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1989) View citations (15)
45. Effective Demands and Spillovers
    DELTA Working Papers, DELTA (Ecole normale supérieure)
    Also in Working Papers, Queen Mary University of London, School of Economics and Finance (1988)
46. Macroeconomic Policy Coordination and the European Monetary System
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (5)
    See also Chapter (1990)

1988

47. Foreign Lending in the Interwar Years: The Bondholders' Perspective
    Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley View citations (11)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1988) View citations (11)
    Economics Working Papers, University of California at Berkeley (1988) View citations (11)
48. Settling Defaults in the Era of Bond Finance
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (7)
    Also in Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley (1988) View citations (3)
    Economics Working Papers, University of California at Berkeley (1988) View citations (3)

1987

49. Money and the Consumption Goods Market in China
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
    See also Journal Article in Journal of Comparative Economics (1987)
50. The Anatomy of Financial Crises
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (40)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1986) View citations (3)

1986

51. Finance, Trade and Development: Issues in Transatlantic Cooperation
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (1)
52. Sovereign borrowing, debt and default: the lessons of history for current projects
    Working Papers, School of Economics, University College Dublin
53. The Theory and Measurement of Macroeconomic Disequilibrium in Centrally Planned Economies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1986) View citations (6)

1985

54. Debt and Default in the 1930s: Causes and Consequences
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (1985) View citations (3)
    See also Journal Article in European Economic Review (1986)

1983

55. Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article in Econometrica (1987)
56. Planning the Consumption Goods Market: Preliminary Disequilibrium Estimates for Poland, 1955-1980
    NBER Working Papers, National Bureau of Economic Research, Inc

1981

57. Central Planning and Monetarism: Fellow Travelers?
    NBER Working Papers, National Bureau of Economic Research, Inc
58. Macroeconomic Adjustment and Foreign Trade of Centrally Planned Economies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

1978

59. Wirtschaftsbeziehungen zwischen Ost und West: Perspektiven und Probleme
    Kiel Discussion Papers, Kiel Institute for the World Economy (IfW Kiel)

1971

60. The Labor Market Under Central Planning: The Case of Hungary
    Working Papers, Princeton University, Department of Economics, Industrial Relations Section.
    See also Journal Article in Oxford Economic Papers (1972)

Journal Articles

2021

1. THE EUROPEAN SYSTEMIC RISK BOARD IN “CRISIS MODE”
   Financial Stability Review, 2021, 39-48

2018

2. Interconnectedness: mapping the shadow banking system
   Financial Stability Review, 2018, (22), 25-34 View citations (2)

2017

3. Regime-Dependent Sovereign Risk Pricing During the Euro Crisis
   Review of Finance, 2017, 21, (1), 363-385 View citations (42)
   See also Working Paper (2017)

2016

4. Secular Stagnation, Growth, and Real Interest Rates
   IMF Economic Review, 2016, 64, (4), 575-580 View citations (4)

2012

5. Monetary Policies and Exchange Rates at the Zero Lower Bound
   Journal of Money, Credit and Banking, 2012, 44, (s1), 157-163
   Also in Journal of Money, Credit and Banking, 2012, 44, 157-163 (2012) View citations (12)

2007

6. Benchmark Status in Fixed‐Income Asset Markets
   Journal of Business Finance & Accounting, 2007, 34, (9‐10), 1615-1634 View citations (10)
   See also Working Paper (2007)

2006

7. Optimal currency shares in international reserves: The impact of the euro and the prospects for the dollar
   Journal of the Japanese and International Economies, 2006, 20, (4), 508-547 View citations (56)
   See also Working Paper (2006)

2005

8. The determinants of cross-border equity flows
   Journal of International Economics, 2005, 65, (2), 269-296 View citations (886)
   See also Working Paper (2005)
9. Trade Invoicing in the Accession Countries: Are They Suited to the Euro? [with Comments]
   NBER International Seminar on Macroeconomics, 2005, 2005, (1), 357 - 402

2001

10. Information and capital flows: The determinants of transactions in financial assets
    European Economic Review, 2001, 45, (4-6), 783-796 View citations (296)

1998

11. The Euro and International Equity Flows
    Journal of the Japanese and International Economies, 1998, 12, (4), 406-423 View citations (25)
12. The emergence of the euro as an international currency
    Economic Policy, 1998, 13, (26), 306-343 View citations (133)
    See also Working Paper (1998)

1997

13. Managing financial crises in emerging markets
    Proceedings - Economic Policy Symposium - Jackson Hole, 1997, 193-225 View citations (9)
14. The costs and benefits of eastern enlargement: the impact on the EU and central Europe
    Economic Policy, 1997, 12, (24), 125-176 View citations (216)

1996

15. Convertibility and exchange rate policy
    The Economics of Transition, 1996, 4, (1), 135-136
16. Implementing EMU
    American Economic Review, 1996, 86, (2), 139-42 View citations (3)

1994

17. Transformation Traps
    Economic Journal, 1994, 104, (426), 1178-89 View citations (27)

1993

18. EMS and EMU After the Fall
    The World Economy, 1993, 16, (1), 1-15 View citations (13)
19. EMS and EMU After the Fall: A Reply
    The World Economy, 1993, 16, (3), 381-383 View citations (4)
20. Eastern Germany since unification: wage subsidies remain a better way
    The Economics of Transition, 1993, 1, (4), 383-400 View citations (8)
    See also Working Paper (1992)
21. Enterprise debt and economic transformation (Financial restructuring of the state sector in Central and Eastern Europe)
    The Economics of Transition, 1993, 1, (1), 116-117 View citations (11)
    See also Working Paper (1992)
22. Enterprise debt and financial restructuring in Central and Eastern Europe
    European Economic Review, 1993, 37, (2-3), 396-407 View citations (34)

1992

23. Structural reform in Central and Eastern Europe
    European Economic Review, 1992, 36, (2-3), 661-669 View citations (3)

1990

24. The Interwar Debt Crisis and Its Aftermath
    The World Bank Research Observer, 1990, 5, (1), 69-94 View citations (17)

1989

25. Economic reforms, international capital flows and the development of the domestic capital market in CPEs
    European Economic Review, 1989, 33, (2-3), 466-471
26. Macroeconomic disequilibrium in centrally planned economies: Comment
    Journal of Comparative Economics, 1989, 13, (4), 576-579 View citations (1)

1988

27. Tests of the Chronic Shortage Hypothesis: The Case of Poland
    The Review of Economics and Statistics, 1988, 70, (2), 288-95 View citations (2)

1987

28. Investment and the inflation-unemployment tradeoff in a macroeconomic rationing model with monopolistic competition: By H.R. Sneessens
    European Economic Review, 1987, 31, (3), 812-815
29. Macroeconomic Planning and Disequilibrium: Estimates for Poland, 1955-1980
    Econometrica, 1987, 55, (1), 19-41 View citations (5)
    See also Working Paper (1983)
30. Money and the consumption goods market in China
    Journal of Comparative Economics, 1987, 11, (3), 354-371 View citations (18)
    See also Working Paper (1987)

1986

31. Debt and default in the 1930s: Causes and consequences
    European Economic Review, 1986, 30, (3), 599-640 View citations (80)
    See also Working Paper (1985)

1981

32. 'Disequilibrium dynamics with inventories and anticipatory price-setting' by Green and Laffont
    European Economic Review, 1981, 16, (1), 229-232
33. Macroeconomic Equilibrium and Disequilibrium in Centrally Planned Economies
    Economic Inquiry, 1981, 19, (4), 559-78 View citations (11)

1980

34. 'International adjustment with wage rigidity' by Branson and Rotemberg
    European Economic Review, 1980, 13, (3), 339-341 View citations (2)
35. Disequilibrium Estimates for Consumption Goods Markets in Centrally Planned Economies
    Review of Economic Studies, 1980, 47, (1), 137-159 View citations (27)
36. Effects of the World Economic Crisis on the East European Economies
    The World Economy, 1980, 3, (1), 13-52 View citations (2)

1979

37. Effets de la crise sur les pays de l'Est
    Revue Économique, 1979, 30, (6), 1067-1114 View citations (1)
38. Internal and external balance in a centrally planned economy
    Journal of Comparative Economics, 1979, 3, (4), 325-345 View citations (5)
39. SOVMOD: A Macroeconometric Model of the Soviet Union: Review Article
    Economic Journal, 1979, 89, (355), 669-72

1978

40. Macroeconomic Models with Quantity Rationing
    Economic Journal, 1978, 88, (352), 788-821 View citations (68)
41. The Demand for Money and for Consumption Goods in Centrally Planned Economies
    The Review of Economics and Statistics, 1978, 60, (1), 8-18 View citations (12)

1977

42. The supply of consumption goods in centrally planned economies
    Journal of Comparative Economics, 1977, 1, (4), 351-365 View citations (5)

1974

43. The `tax on wage increases': A theoretical analysis
    Journal of Public Economics, 1974, 3, (2), 113-132 View citations (8)

1972

44. The Labour Market under Central Planning: The Case of Hungary
    Oxford Economic Papers, 1972, 24, (2), 241-58
    See also Working Paper (1971)
45. The strategy and tactics of economic decentralization
    Europe-Asia Studies, 1972, 23, (4), 629-658

1971

46. Decentralized Planning Procedures and Centrally Planned Economies
    American Economic Review, 1971, 61, (2), 422-29
47. Long-Run Scale Adjustments of a Perfectly Competitive Firm and Industry: An Alternative Approach
    American Economic Review, 1971, 61, (3), 430-34 View citations (2)

1970

48. Economic Reforms in Hungary
    American Economic Review, 1970, 60, (2), 307-13 View citations (1)

1969

49. The Enterprise under Central Planning
    Review of Economic Studies, 1969, 36, (2), 197-212 View citations (3)

Books

2002

1. Making Sense of Globalization: A Guide to the Economic Issues
   Monographs in Economics, University of Munich, Department of Economics View citations (19)

1987

2. Threats to International Financial Stability
   Cambridge Books, Cambridge University Press View citations (85)

Edited books

2013

1. The Social Value of the Financial Sector:Too Big to Fail or Just Too Big?
   World Scientific Books, World Scientific Publishing Co. Pte. Ltd.

2010

2. External Constraints on Macroeconomic Policy
   Cambridge Books, Cambridge University Press

1991

3. External Constraints on Macroeconomic Policy
   Cambridge Books, Cambridge University Press View citations (40)

1987

4. Global Macroeconomics: Policy Conflict and Cooperation
   International Economic Association Series, Palgrave Macmillan View citations (38)

1971

5. Planning and Market Relations
   International Economic Association Series, Palgrave Macmillan View citations (3)

Chapters

2021

1. The European “Postwar Consensus” and the Birth of the EEC
   Springer

2013

2. Policy Panel
   A chapter in Liquidity and Funding Markets, 2013 View citations (4)
3. The Eurozone Crisis
   Chapter 23 in The Role of Central Banks in Financial Stability How Has It Changed?, 2013, pp 423-431

2011

4. The Internationalization of Iceland’s Financial Sector
   Palgrave Macmillan

2010

5. Comment on "Why the European Securities Market Is Not Fully Integrated"
   A chapter in Europe and the Euro, 2010, pp 283-286

2008

6. Discussion of 'The Unfolding Turmoil of 2007–2008: Lessons and Responses'
   A chapter in Lessons from the Financial Turmoil of 2007 and 2008, 2008

2005

7. 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 399-402 View citations (1)

2002

8. The Euro and the International Financial System
   Chapter 13 in EMU and Economic Policy in Europe, 2002
   See also Working Paper (2001)

1990

9. Macroeconomic Policy Coordination and the European Monetary System
   Palgrave Macmillan View citations (1)
   See also Working Paper (1989)

1987

10. Introduction
    Palgrave Macmillan View citations (1)
11. The Impact of External Shocks on Centrally Planned Economies: Theoretical Considerations
    Palgrave Macmillan

1981

12. East, West, and South: the Role of the Centrally Planned Economies in the International Economy
    Palgrave Macmillan

1971

13. Discussion of the Paper by Mr Opie
    Palgrave Macmillan