|
| Financial Crises and Sudden Stops |
|
|
Quantitative
Implications of a Debt-Deflation Theory of Sudden Stops and Asset Prices
(with Katherine A. Smith) (Journal of International Economics,
September 2006) |
|
Margin Calls, Trading Cost,
and Asset Prices in Emerging Markets: The Financial Mechanics of the
'Sudden Stop' Phenomenon
(with Katherine A. Smith, extended working paper version of the JIE
paper) |
|
Are Asset Price
Guarantees Useful for Preventing Sudden Stops?: A Quantitative
Investigation of the Globalization Hazard-Moral Hazard Tradeoff
(with Ceyhun Bora Durdu, Journal of International Economics, June 2006) |
|
Lessons from the
Debt Deflation Theory of Sudden Stops
(American Economic Review Papers & Proceedings, May 2006) |
|
Real Exchange Rate
Volatility and the Price of Nontradables in Sudden-Stop Prone Economies
(Economia, Fall 2005) |
|
On the Instability of
Variance Decompositions of the Real Exchange Rate across Exchange Rate
Regimes: Evidence from Mexico & the United States
(NBER working paper with details on the variance analysis of real
exchange rates documented in the Economia, Fall 2005 article) |
Credit
Frictions and 'Sudden Stops' in Small Open Economies:An Equilibrium
Business Cycle Framework for Emerging Markets Crises
(with Cristina Arellano)
(Ch. 7 of Dynamic Macroeconomic Analysis: Theory and
Policy in General Equilibrium ed. by S. Altug, J. Chadha and C. Nolan,
Cambridge U. Press, 2003, working paper version)
|
|
Credit,
Prices and Crashes: Business Cycles with a Sudden Stop
(Ch. 7 of Preventing Currency Crises in Emerging Markets ed. by S.
Edwards and J. Frankel, NBER, U. of Chicago Press, 2002, working paper
version) |
|
The Benefits of
Dollarization when Stabilization Policy Lacks Credibility and Financial
Markets are Imperfect
(Journal of Money, Credit and Banking, vol. 33, May 2001,
working paper version) |
|
Capital Markets
Crises and Economic Collapse in Emerging Markets: An Informational
Frictions Approach
(with Guillermo A. Calvo) (American Economic Review, Papers &
Proceedings, May 2000, working paper version) |
The Business Cycles of
Balance-of-Payments Crises: A Revision of A Mundellian Framework
(with Martin Uribe)
(Published in Money, Capital Mobility, and Trade: Essays in Honor
of Robert A. Mundell, ed. by G. Calvo, R. Dornbusch and M.
Obstfeld,
MIT Press, Cambridge:MA, 2000, working paper version) |
|
Empirical
Puzzles of Chilean Stabilization Policy, (Chile: Recent Policy Lessons
and Emerging Challenges, World Bank,1999)
(with Guillermo A. Calvo) |
|
Mexico's
balance-of-payments crisis: a chronicle of a death foretold (Journal of
International Economics, 1996)
(En Español: "La crisis de la balanza de pagos
de
México: crónica de una muerte anunciada," Economia
Mexicana, LVII 219
Enero-Marzo, 1997)
|
|
Petty
Crime and Cruel Punishment: Lessons from the Mexican Debacle (AER, 1996)
(with Guillermo A. Calvo) |
|
| Fiscal
Policy |
| |
|
International
Evidence on Fiscal Solvency: Is Fiscal Policy 'Responsible'?
(with Jonathan Ostry, Journal of
Monetary Economics, v.55, 2008, pp. 1081-1093 )
Why Hasn't Tax Competition
Triggered a Race to the Bottom? Some Quantitative Lessons from the EU
(with Linda Tesar, Journal of Monetary Economics, 2005, v.
52, p. 163-204, Carnegie-Rochester Conference Series on Public Policy) |
|
A
Quantitative Analysis of Tax Competition V. Tax Coordination under
Perfect Capital Mobility
(NBER working paper of the first version of the above paper) |
|
The International
Macroeconomics of Taxation and the Case Against European Tax
Harmonization
(published in Economic Policy in the International Economy,
ed. by E. Helpman and E. Sadka, Cambridge University Press, 2003,
working paper version) |
|
The International
Ramifications of Tax Reforms; Supply-Side Economics in a Global Economy
(with Linda Tesar)
(American Economic Review, 1998, v. 88, p. 226-245) |
|
On the Ineffectiveness of
Tax Policy in Altering Long-Run Growth: Harberger's Superneutrality
Conjecture (with Gian Maria Milesi-Ferretti and P. Asea, Journal of Public Economics, 1997)
Estimates
for 18 OECD Countries, 1965-1992 used in Mendoza, Milesi-Ferretti and
Asea (JPubE 1997)
|
|
Effective Tax Rates in
Macroeconomics: Cross Country Estimates of Tax Rates on Factor Incomes
and Consumption (with Assaf Razin and Linda Tesar, Journal of Monetary Economics, 1994)
|
|
| Financial Globalization |
|
|
Rational Contagion and
the Globalization of Securities Markets
(with Guillermo A. Calvo) (Journal of International Economics,
June 2000, working paper version) |
|
The robustness of macroeconomic
indicators of capital mobility
(Sapir Volume) |
|
Capital Controls
and the Gains from Trade in a Business Cycle Model of a Small Open
Economy
(IMF Staff papers, 1991) |
|
| Real
Business Cycle Models |
|
|
Devaluation Risk and The
Business Cycle Implications of Exchange Rate Management (with
Martin Uribe)
(Carnegie Rochester Conference Series on Public Policy, V. 53,
2001, working paper version) |
|
Terms of Trade Uncertainty
and Economic Growth: Are Risk Indicators Significant in Growth
Regressions
(Journal of Development Economics, 1997) |
|
The Terms of Trade, The Real
Exchange Rate and Economic Fluctuations
(International Economic Review, 1995) |
|
Trade Reforms of
Uncertain Duration and Real Uncertainty: A First Approximation
(with with Guillermo A. Calvo) (IMF Staff Papers, 1994) |
|
Dynamic Gains from North
American Free Trade in an Equilibrium Model of the Current Account
(North American Journal of Economics & Finance, 1994) |
|
The Balassa-Samuelson Model: A
General-Equilibrium Appraisal
(with Patrick K. Asea) (Review of International Economics, 1994) |
|
The Effects of
Macroeconomic Shocks in a Basic EquilibriumFramework
(IMF Staff Papers, 1992) |
|
Real Business Cycles
in a Small Open Economy
(American Economic Review, September 1991) |
|
| Articles in Spanish |
|
|
Porqué las
Economías Emergentes Deberian Renunciar a las Monedas
Nacionales: Un
Caso para la Sustitución de Instituciones?
(El Trimestre Económico v. LXXI (1), no. 281, Enero-Marzo 2004,
versión
en pruebas tipográficas antes de edición final) |
|
La crisis de la balanza de
pagos de México: crónica de una muerte anunciada
(Investigacion Económica, LVII 219 Enero-Marzo, 1997) |
