"The Bail-In Problem: Systematic Goals,
Ad Hoc Means," May 2000. A revised version was published in Economic
Systems, 2001.
"The Baring Crisis in a Mexican Mirror,"
preliminary draft, February 1997. Click for figures
1,
2,
3,
4,
5,
6,
7,
8 and
9. Revised version appears in
International Political Science Review 20, August 1999.
"Between Meltdown and Moral
Hazard: The International Monetary and Financial Policies of the Clinton
Administration" (with Brad DeLong), July 2001. Prepared for the conference
on the Economic Policies of the Clinton Administration, Kennedy School of
Government, 26-29 June 2001. A revised version apprears in a book by the
same name, edited by Jeffrey Frankel and Peter Orzag.
"A Blueprint for IMF Reform: More Than Just a Lender." International Finance 10:2
(2007).
"Bond Markets as Conduits for Capital Flows: How Does Asia Compare?" (with Pipat Luengnaruemitchai), NBER Working Paper No. 12408, August 2006.
"The Breakup of the Euro Area." For presentation to the NBER Summer Institute preconference for the project on the euro, 12 July 2007.
"Bretton Woods and the Great Inflation,"
with Michael Bordo. NBER Working Paper 14532, December 2008.
"The British Economy Between
the Wars", prepared for the third edition of The Economic History of
Britain (Roderick Floud and Paul Johnson, eds).
"Building Bond Markets in Latin America" (with Eduardo Borensztein and Ugo Panizza). Prepared for an IADB network on the growth of corporate bond markets in Latin America. Posted August 2006
"The Bush Legacy for America's International Economic Policy" (with Douglas Irwin). Prepared for the Conference on the Legacy of the Bush Years for the Next Adminstration, Miller Center for the Study of the Presidency, University of Virginia. This version August 2007.
"Can a Rapidly-Growing
Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China
from Japan's High-Growth Era" (with Mariko Hatase), NBER working paper #11625.
"Capital Account Liberalization, Financial Development and Industry Growth: A Synthetic View,"
with Rachita Gullapalli and Ugo Panizza. January 2009.
"Capital Account Liberalization and
Growth: Was Mr. Mahathir Right?" (with David Leblang), a revised version
appears in The International Journal of Finance and Economics (2003).
"Capital Account Liberalization: What
Do the Cross-Country Studies Tell Us?" preliminary version, April 2001. A
revised version appears in The World Bank Economic Review, March 2002.
"Central Bank Transparency: Causes, Consequences and Updates,"
with Nergiz Dincer. February 2009. An earlier version of this paper was presented to the conference on Money Matters: The Law, Politics and Economics of Currency, held at Tel Aviv University on 7-9 January 2009.
"Central Bank Transparency: Where, Why and with What Effects?" with Nergiz Dincer. NBER Working Paper No. 13003, March 2007.
"China and the Exports of Other Asian Countries" (with Yeongseop Rhee and Hui Tong). Review of World Economics 143:2, pp. 201-226, April 2007. An earlier draft of this paper was presented at
the KIEP/Claremont conference on East Asian regionalism, Seoul, 26-27 August 2004.
"China's Exchange Rate Regime: The Long and Short
of It", Revision of a paper for Columbia University's conference on Chinese
money and finance held in New York on February 2-3, 2006.
"Contagious Currency Crises" (with Andy Rose
and Charles Wyplosz), NBER WP 5681; CEPR DP 1453, July 1996. Revised March 1997.
Part of this paper was published in the Scandinavian Journal of
Economics 98, 1996.
"Contending with Capital Flows: What is
Different About the 1990s?" (with Albert Fishlow), Occasional Paper,
Council on Foreign Relations, 1996. Click for figures
1,
2,
3,
4,
5,
6,
7,
8 and
9; and tables
1 and
2. Revised and expanded version published in
Miles Kahler (ed.), Capital Flows and Financial Crises, Cornell
University Press, 1998.
"Counterfactual Histories of the Great
Depression" (with Peter Temin), October 2001. A revised and edited version
of this paper appears in Theo Balderston (ed.), The World Economy and
National Economies in the Interwar Years.
"Crises Now and Then: What
Lessons from the Last Era of Financial Globalization?" (with Michael Bordo),
November 2001. Prepared for a conference in honor of Charles Goodhart at the
Bank of England, 15 - 16 November 2001. A revised version appears in a
festschrfit volume edited by Paul Mizen,
Monetary History, Exchange Rates and Financial Markets (Edward Elgar 2004).
"Crisis Resolution: Next Steps" (with Kenneth Keltzer and Ashoka Mody). IMF Working Paper WP/03/196, 2003. A
revised version appears in Brookings Trade Forum 2003 (Brookings Press 2003).
"The Currency Composition of Foreign Exchange
Reserves: Retrospect and Prospect," preliminary version, January 2000. Click
for figures. Prepared for the UNU/WIDER
Conference on the Future of the International Monetary and Financial System,
Helsinki, 11 - 12 November 1999. A revised version appears in a volume edited
by Charles Wyplosz, The Impact of EMU on Europe and the Developing
Countries (Oxford University Press 2001).
"Currency Crises and Unemployment:
Sterling in 1931" (with Olivier Jeanne), preliminary draft, 1998. Revised
version appears in Paul Krugman (ed.), Currency Crises (University of
Chicago Press 2000).
"Current Account Reversals:
Always a Problem?" (with Muge Adalet) prepared for the NBER Conference on G7
Current Account Imbalances, Newport, Rhode Island, June 1-2, 2005.
"Debt Deflation and Financial Instability: Two
Historical Perspectives" (with Richard Grossman), preliminary draft, June
1994. Click for figures
1-6 and
7-11; and tables
1-4. Revised version published in Forrest
Capie and Geoffrey Wood (eds.), Asset Prices and the Real Economy (Palgrave Macmillan 1997).
"Debt Denomination and Financial
Instability in Emerging Market Economies" (with Ricardo Hausmann), editors'
introduction to Other People's Money: Debt Denomination and Financial
Instability in Emerging Market Economies (University of Chicago Press 2005).
"Democracy and Globalization" (with David Leblang) Prepared for the BIS annual research conference in Brunnen, Switzerland, June 2006.
"Dental Hygiene and Nuclear War: How
International Relations Look from Economics," preliminary draft, December
1997. Revised version appears in International Organization, Autumn
1997 and in Peter Katzenstein, Robert Keohane, and Stephen Krasner (eds),
Exploration and Contestation in the Study of World Policies, 1999. EP
Conference on Recovery from the Asian Crisis, Seoul, 18 - 19 May 2001.
"Does It Pay to Defend Against a Speculative
Attack?" (with Andrew Rose), April 2001. A revised version appears
in Managing Currency Crises in Emerging Markets, edited by Michael Dooley
and Jeffrey Frankel.
"Does Mercosur Need
a Single Currency?" prepared for the IPEA conference ALCA and MERCOSUL: The
Brazilian Economy and the Processes of Subregional and Hemispheric Integration,
Brazilia, 5 - 6 October 1998. Click for figures
1,
2,
3,
4,
A.1 and
A.2; and tables
1,
2,
3,
A.1,
A.2 and
A.3.
The Economic Impact of European Integration with Andrea Boltho. CEPR Discussion Paper No. 6820. An edited version is forthcoming in a history of the
European economy edited by Steve Broadberry and Kevin O'Rourke.
"Economics and Culture in the Writing of
Financial History," preliminary draft, May 1997. Revised version appears in
Gerald Feldman, Philip Cottrell and Jaime Reis (eds), Finance and the Making
of Modern Capitalism.
"The Empirics of
Currency and Banking Crises" (with Andrew Rose), in NBER Reporter,
1999. Revised version published in Wirtschaftspolitisches Blatter
(Austrian Economic Papers), 2000.
"The EMS Crisis in Retrospect,"
preliminary version, November 2000. Prepared for the conference celebrating the
75th anniversary of the Banco de Mexico, Mexico City, 14 - 15
November 2000. A revised version appears in a volume edited by Guillermo
Ortiz and Alejandro Werner, Stabilization and Monetary Policy: The
International Experience.
"EMU: An Outsider's Perspective," CIDER WP
C96-079, October 1996. A revised verion appears in The Irish Banking
Review, 1997.
"EMU and Enlargement" (with Fabio
Ghironi), prepared for a conference on Economic and Monetary Union organized by
DG EcFin of the European Commission, Brussels, 21 - 22 March 2001. Revised
version appears in Marco Buti and Adre Sapir (eds),
EMU and Economic Policy in Europe
(Edward Elgar, 2003).
"The Euro as a Reserve Currency,"
preliminary draft, November 1997. Click for
figures 1-4 and
tables 1-5. Revised version appears in
The Journal of the Japanese and International Economies, December 1998.
"European Integration: What Lessons for Asia?" Prepared for the Asian Development Bank project on Asian Regionalism, and presented to the project workshop in Bangkok, July 2007.
"European Monetary Unification: A Tour
d'Horizon," preliminary draft, December 1997. Revised version published in
Oxford Review of Economic Policy, Autumn 1998.
"European Monetary Unification and International
Monetary Cooperation" (with Fabio Ghironi), preliminary draft, December 1996.
Revised version published in Politique Etrangere, 1997 (in French).
Expanded version in Barry Eichengreen (ed.), Transatlantic Economic Relations
in the Post-Cold War Era, Council on Foreign Relations Press, 1998.
"Europe's Coming Resurgence." A revised version appears in the Milken Review, March 2008.
"Europe’s External Monetary and Financial Relations since the Euro" (with Alan Ahearne). Revised version of a paper presented to a Bruegel Conference in October 2006 (this version January 2007).
"Ever Closer to Heaven? An Optimum-Currency Area
Index for European Countries" (with Tamim Bayoumi), CIDER WP C96-078, August
1996. Revised version appeared in European Economic Review and
republished in Paul de Grauwe (ed.), The Politial Economy of Monetary
Union.
Exchange Rate Regimes and Capital Mobility: How Much of the Swoboda Thesis Survives?
Prepared for the conference in honor of Alexander Swoboda, Geneva, May 2008.
"Exchange Rate Stability and Financial
Stability," preliminary draft, June 1998. Revised version appears in Open
Economies Review, Supplement, 1998.
"Exchange Rate Volatility and Intervention:
Implications of the Theory of Optimum Currency Areas" (with Tamim Bayoumi),
preliminary draft. Click for figure 1 and
tables 1-3. Revised version published in
Journal of International Economics, 1998.
"The Financial Crisis and Global Policy Reforms." Prepared for the Federal Reserve Bank of San Francisco's conference on Asia and the Financial Crisis, Santa Barbara, California, 19-21 October.
"Financial Instability," prepared
for the Copenhagen Consensus project, May 2004, and in Bjorn Lomborg (ed.),
Global Crises, Global Solutions (Cambridge University Press 2004).
"Financing Infrastructure in Developing
Countries: Lessons from the Railway Age", Economics Department WP 94-230,
October 1994. A revised version was published in Ashoka Mody (ed.),
Infrastructure Delivery: Private Initiative and the Public Good, 1996.
"Fostering Monetary and Exchange Rate Cooperation in East Asia." Prepared for the EAMC Forum Conference on "Monetary and Financial
Cooperation in Asia," Seoul, August 2007.
"From Benign Neglect to Malignant
Preoccupation: U.S. Balance-of-Payments Policy in the 1960s," preliminary
version, November 1999. Prepared for the Brookings Conference on the U.S.
Economy in the 1960s, November 1999. Published in a conference volume edited by
George Perry and James Tobin, Economic Events Ideas and Policies: The 1960s
and After (Brookings Institution Press 2000).
"From Great Depression to Great Credit Crisis: Similarities, Differences and Lessons." Presented at the 50th Economic Policy Panel Meeting, held in Tilburg on October 23-24, 2009.
"The Future of Global Financial Markets," prepared for the Conference on the
Future of Globalization at Yale University, October 2003. Appears in the conference volume edited by Ernesto Zedillo, The Future of Globalization: Explorations in Light of Recent Turbulence (Routledge 2007). This updated version is
from May 2006.
"Global Imbalances and the Lessons of Bretton Woods," in The Future of the International Monetary System
edited by Marc Uzan (Edward Elgar 2005).
"The Gold Standard and the Great
Depression" (with Peter Temin), NBER Working Paper No. 6060, 1997. Revised
version published in Contemporary European History, July 2000.
"The Great Depression as a
Credit Boom Gone Wrong" (with Kris Mitchener), prepared for the BIS's
Conference on Credit Booms. Revised version appears in
Research in Economic History, Vol.22, pp. 183-237 (2004).
"Hanging Together? On Monetary and
Financial Cooperation in Asia", October 2001. Prepared for the World Bank
project on Rethinking the Asian Miracle. An earlier version was presented to a
meeting co-hosted by the World Bank and the Kennedy School of
Government in Cambridge, 2-3 October 2001. A revision appears in Shahid Yusuf
et al., Global Change and East Asian Policy Initiatives (Oxford 2003).
"Hedge Fund Leverage Before and After the
Crisis" (with Bokyeong Park). A revised version appears in The
Journal of Economic Integration (2002).
"Hedge Funds in the New International Financial
Architecture," preliminary version, 1999. Prepared for the Institute for
Developing Economies Project on Reform of the International Financial
Architecture, and presented at a symposium in Tokyo, 22 - 23 March 1999. A
revised version was published in International Finance (2000).
>
"Hegemonic Stability Theory and Economic Analysis:
Reflections on Financial Instability and the Need for an International Lender
of Last Resort", CIDER WP C96-080, October 1996. A revised version was
published in the Mershon International Studies Review (1998).
"The IMF in a World of Private Capital
Markets" (with Kenneth Kletzer and Ashoka Mody), revision of a paper
presented to an IMF/Bank of Spain conference, Madrid, June 2004.
"Innovation and Integration: Europe's Economy
Since 1945." A revised version appears in Europe since 1945 (The Short Oxford History of Europe), edited by Mary Fulbrook (Oxford University Press 2001).
"Institutions and Economic Growth in Postwar
Europe: Evidence and Conjectures" (with Pablo Vazquez), September 1999. A
revised version was published in Productivity, Technology, and Economic Growth , edited by Bart van Ark (Kluwer Academic Publishers 2000).
"Institutions and Economic Performance: Evidence
from the Labor Market" (with Torben Iversen), November 1999. A revised
version was published in a special issue of The Oxford Review of Economic
Policy, Winter 1999, on the economics of the 20th century.
"Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America?"Open Economies Review 18:1, February 2007. Presented to a FLAR-CEPAL conference in Lima, Peru, July 16-17, 2006.
"Interest Rates in the North and Capital Flows to
the South: Is There a Missing Link?" (with Ashoka Mody), preliminary draft,
June 1998. A revised version appears in International Finance 1, October
1998.
"International
Economic Policy in the Wake of the Asian Crisis," preliminary draft, August
1998. Revised version appears in Restructuring the Korean Financial Market in a Global Economy edited by Lee-Jay Cho, Yoonhyung Kim, and Inseok Shin (Korean Development Institution 2002).
"International Financial Crises:
Is the Problem Growing?" August 2001. A revised version appears in
Jahrbuch fur Wirtschaftsgeschichte (2002).
"The International Monetary Fund in the Wake
of the Asian Crisis," preliminary version of a paper presented to the Monash
University/Australian National University Conference on the Asian Crisis,
Melbourne, 17 - 18 December 1998. Revised version appears in
The Asian Financial System and the Architecture of Global Finance
edited by Greg Noble and John Ravenhill (Oxford University Press 2000).
"Is a Change in the Renminbi Exchange Rate in China's Interest?" In Asian Economic Papers 4:1 (2006).
An earlier
version was presented to the Asian Economic Panel, 12-13 April 2004. This version is March 2005.
"Is Aggregation a Problem
for Sovereign Debt Restructuring?" (with Ashok Mody), presented at the
ASSA meetings, Washington, DC, 4 March 2003. A revised version appears in
American Economic Association Papers and Proceedings (2003).
"Is Asia an Optimum Currency Area? Can It Become
One? Regional, Global and Historical Perspectives on Asian Monetary
Relations" (with Tamim Bayoumi), CIDER WP C96-081, December 1996. Revised
version published in Exchange Rate Policies in Emerging Asian Countries (Routledge Studies in the Growth Economies of Asia, 13) edited by Stefan Collignon, Jean Pisani-Ferry, and Yung Chul Park
(Routledge 1999).
"Is China's FDI Coming at the
Expense of Other Countries?" (with Hui Tong), NBER Working Paper No. 11335, May 2005.
"Is Globalization Today Really Different than
Globalization a Hundred Years Ago?" (with Michael Bordo and Douglas Irwin),
preliminary version, 1999. Prepared for the Brookings Trade Policy Forum on
Governing in a Global Economy, Washington, DC, 15 - 16 April 1999. Revised
version published in Brookings Trade Policy Forum, 1999.
"Is Greater Private-Sector Burden Sharing
Impossible?" preliminary version, 1999. Prepared for the IMF conference on
Key Issues in Reform of the International Monetary and Financial System. Revised
version published in Peter Kenen and Alexander Swoboda (eds.), Reforming the
International Monetary and Financial System (2000).
"Is Our Current International Economic
Environment Unusually Crisis Prone?" (with Michael Bordo), preliminary
version, 1999. Click for figures.
Prepared for the Reserve Bank of Australia Conference on Private Capital Flows,
Sydney, 9 - 10 August 1999. A revised version was published in David Gruen and
Luke Gower (eds.), Capital Flows and the International Financial System
(1999).
"Is Regionalism Simply a Diversion?
Evidence from the EU and EFTA" (with Tamim Bayoumi), preliminary draft,
December 1995. Revised version published in Takatoshi Ito and Anne Krueger
(eds.), Regionalism versus Multilateral Trade Arrangements (University of
Chicago Press, 1998).
"Is the Crisis Problem Growing More
Severe?" (with Michael Bordo, Daniela Klingebiel and Maria Soledad
Martinez-Peria), January 2001. Click for figures
1,
2,
3,
4,
5,
6,
7,
8,
9,
10 and
11. A revised version appears in Economic
Policy April 2001.
"The Keynesian Revolution and the Nominal
Revolution: Was There a Paradigm Shift in Economic Policy in the 1930s?",
March 1999. A revised version appears in Valerio Castronovo (ed.), Storia
dell-economia mondiale (A History of the World Economy), Volume 4: Between
Expansion and Recession (1850-1930) (2000).
"Lending Booms, Reserves and the Sustainability
of Short-Term Debt: Inferences from the Pricing of Syndicated Bank Loans"
(with Ashoka Mody), 1998. Prepared for the Interamerican Seminar on
Macroeconomics, Rio de Janeiro, 3 - 5 December 1998. A revised version appears
in the Journal of Development Economics (2000).
"Managing Capital Inflows: Eastern Europe
in an Asian Mirror" (with Omar Choudry), prepared for the Turkish Central
Bank/Center for European Integration Studies conference on Macroeconomic Policies
for EU Accession, Ankara, 6-7 May 2005.
"Managing Financial Crises in Emerging
Markets" (with Richard Portes), preliminary draft, August 1997. Revised
version published in Federal Reserve Bank of Kansas City, Managing Financial
Instability (1998).
"Managing the World Economy in the 1990s," prepared for the Duke
University/University of North Carolina Conference on the Economic History of
the 1990s, 26-27 March 2004.
"Monetary and Financial Reform in Two Eras
of Globalization (and In Between)" (with Harold James), May 2001. Prepared
for the NBER Conference on Globalization and History, Santa Barbara, 4 - 6 May
2001. Revised September 2001. A revised version appears in Globalization in Historical Perspective, Michael Bordo,
Alan Taylor, and Jeffrey Williamson (eds.), (University of Chicago Press, 2005).
"The Mystery of Original Sin" (with
Ricardo Hausmann and Ugo Panizza), August 2003. Revision of a paper presented to a
conference at the Inter-American Development Bank, November 2002. This version
appears in Barry Eichengreen and Ricardo Hausmann (eds.), Other People's
Money: Debt Denomination and Financial Instability in Emerging Market Economics (University of Chicago Press, 2004)
"On the Links Between Monetary and Political
Integration," CIDER WP #C96-077, December 1996. A revised version was
published in the Swiss Political Science Review, Spring 1997.
"Original Sin: The Road to
Redemption" (with Ricardo Hausmann), August 2003. Revision of a paper
presented to a conference at the Inter-American Development Bank
(November 2002). This version appears in Barry Eichengreen and Ricardo
Hausmann (eds.), Other People's Money: Debt Denomination and Financial
Instability in Emerging Market Economics (University of Chicago Press, 2004).
"Out of the Box Thoughts about the International Financial Architecture."
1 May 2009. IMF Working Paper No. 09/116.
"The Pain of Original Sin" (with
Ricardo Hausmann and Ugo Panizza), August 2003. Revision of paper presented to a
conference at the Inter-American Development Bank (November 2002). This version
appears in Barry Eichengreen and Ricardo Hausmann (eds.), Other People's
Money: Debt Denomination and Financial Instability in Emerging Market Economics (University of Chicago Press, 2004).
"Policy Making in an Integrated World: From
Surveillance to...?" preliminary version, 1999. Prepared for the Federal
Reserve Bank of Boston's Conference on Policy Making in an Interdependent World,
Cape Cod, 7 - 9 June 1999. A revised version appears in Jane Little and Giovanni
Olivei (eds.), Rethinking the International Monetary System (1999)and
in Andrew Hughes Hallet, et al. (eds.), Challenges for
Economic Policy Coordination within European Monetary Union (2001).
"The Political Economy of European Integration," prepared for The Oxford
Handbook of Political Economy, edited by Donald Wittman and Barry R. Weingast (Oxford University Press 2006).
"The Political Economy of European Monetary
Unification: An Analytical Introduction" (with Jeffry Frieden), February
2000. Preliminary version of editors' introduction to the second edition of
Barry Eichengreen and Jeffry Frieden, The Political Economy of European
Monetary Unification, Second Edition (Westview Press, 2000).
"Predicting and Preventing
Financial Crises: Where Do We Stand? What Have We Learned?" prepared for
the Kiel Week annual conference, Kiel, Germany, 24 - 25 June 2002. Click for
figures. Revised version
appears in Horst Siebert (ed.), Global Governance: An Architecture for the
World Economy (2003).
"Plumbing for Latin American Capital Markets" with Sudarat Ananchotikul. Appears in BIS Papers No. 26, "New Financing Trends in Latin America: A Bumpy Road Towards Stability," February 2008.
"The Real Exchange Rate and Economic Growth." Background paper for the World Bank Growth Commission, presented to the Commission meeting in New York City, 9 April 2007.
"Restructuring Sovereign Debt," an edited version appears in the
Journal of Economic Perspectives vol. 17(4), pages 75-98 (2003).
"The Rise and Fall of a Barbarous Relic: The
Role of Gold in the International Monetary System" (with Michael Bordo),
preliminary draft, January 1998. Click for
figures 1-5,
tables 1-8; appendices
1,
2 and
3; and
appendix figures. Revised version appears in
Guillermo Calvo, Rudiger Dornbusch and Maurice Obstfeld (eds.), Money, Capital
Mobility, and Trade: Essays in Honor of Robert Mundell (2000).
The Rise and Fall of the Dollar, or When Did the Dollar Replace Sterling as the Leading Reserve Currency?
with Marc Flandreau. Prepared for the conference in honor of Peter Temin, Cambridge, 9 May 2008. A longer version was presented to the Past, Present and Policy Panel, Genoa, Italy, 28-29 March 2008.
"The Role of History in Bilateral
Trade Flows" (with Douglas Irwin), preliminary draft, May 1996. Revised
version published in Jeffrey Frankel (ed.), The Regionalization of the World
Economy (University of Chicago Press, 1998).
"Saving Europe's Automatic Stabilizers,"
CIDER WP #C96-082, November 1996. Revised version published in National
Institute of Economic and Social Research (NIESR) Review, December 1996.
Also appears in Mark Baimbridge, Brian Burkitt, and Philip Whyman (eds.), The
Impact of the Euro: Debating Britain's Future (2000).
"The Slide to Protectionism in the Great Depression: Who Succumbed and Why?" with Douglas A. Irwin. July 2009. NBER Working Paper No. 15142.
"Speculative Attacks on
Pegged Exchange Rates: An Empirical Exploration with Special Reference to the
European Monetary System" (with Andy Rose and Charles Wyplosz), preliminary
draft, October 1994. Revised version published in Matthew Canzoneri, Wilfred
Ethier and Vittorio Grilli (eds.), The New Trans-Atlantic Economy (Cambridge University Press, 1996).
Also available as NBER Working Paper No. 4898 and CEPR Discussion Paper No. 1060.
"The Stability Pact: More Than a
Minor Nuisance?" (with Charles Wyplosz), preliminary draft, October 1997.
Revised version published in Economic Policy 26, Spring 1998. Also
appears in David Begg, Juergen von Hagen, Charles Wyplosz and Klaus Zimmermann
(eds), EMU: Propsects and Challenges for the Euro (1998).
"Staying Afloat When the
Wind Shifts: External Factors and Emerging-Market Banking Crises" (with
Andy Rose). A working draft is available as a PDF file; the STATA data is also
available. Also see NBER Working Paper No. 6370 and CEPR Discussion Paper No. 1828. A revised version is published in
Guillermo Calvo, Rudiger Dornbusch and Maurice Obstfeld (eds), Trade,
Capital Mobility, and Growth: Essays in Honor of
Robert Mundell (2000).
"Sterling's Past, Dollar's Future:
Historical Perspectives on Reserve Currency Competition," text of the Tawney
Lecture, delivered to the Economic History Society, Leicester, 10 April 2005.
"Still Fettered After All These
Years," 2002. Originally prepared as revised version that appeared in
Canadian Journal of Economics.
"Stock Market Volatility and
Monetary Policy: What the Historical Record Shows" (with Hui Tong), prepared
for the Annual Research Conference of the Reserve Bank of Australia, Sydney, August 2003.
"Sudden Stops and IMF Programs" (with Poonam Gupta and Ashoka Mody).
An earlier version of this paper was presented to the Interamerican Seminar on Macroeconomics in Rio,
1-3 December 2005. This version is from 5 May 2006.
"Sui Generis EMU." Presented to the European Commission's workshop "EMU@10: Achievements and
Challenges," Brussels, 27 November 2007.
"Thirteen Questions about the Subprime Crisis." Prepared for a conference of the Tobin Project, "Toward a New Theory of Financial Regulation," White Oak Conference and Residency Center, Yulee, Florida, 1-3 February 2008.
"Two Cases for Sand in the Wheels of
International Finance" (with Charles Wyplosz and J. Tobin), preliminary
draft, May 1994. Revised version published in Economic Journal 105,
January 1995.
"Understanding West German economic growth in the 1950s," with Albrecht Ritschl. Cliometrica, Vol. 3, No. 3, October 2009.
"Unemployment and the Structure of Labor
Markets: The Long View." A revised version appears in Herbert Giersch (ed.),
Unemployment: A Problem in Europe (1996).
"What Explains the Changing Spreads
on Emerging Market Debt?" (with Ashoka Mody), preliminary draft, February
1998. Revised version appears in Sebastian Edwards (ed.), The Economics of
International Capital Flows (University of Chicago Press, 2000).
"What to Do with the Chiang Mai
Initiative," prepared for the Asian Economic Panel Meeting in Tokyo, May
2002. Click for figures.
A revised version appears in Asian Economic Papers (2003).
"When Does Capital Account
Liberalization Help More Than it Hurts?" (with Carlos Arteta and Charles
Wyplosz, March 2000. Prepared for the conference celebrating
Assaf Razin's 60th birthday, held at Tel Aviv University, 25 - 26
March 2001. Updated July 2001. Revised version appears in Elhanan Helpman and Efraim Sadka (eds.),
Economic Policy in the International Economy (Cambridge University Press,
2003).
"Why Doesn't Asia Have Bigger Bond Markets?" (with Pipat Luengnaruemitchai),
for presentation to the Korea University/BIS Conference on Asian Bond Market
Research, Seoul, 21-23 March 2004. Revised version appears as NBER Working Paper No. 10576, June 2004; as HKIMR Working Paper No. 24/2004; and as
BIS Paper No. 30, part 7, November 2006.
"Why Has There Been Less Financial
Integration in Asia than in Europe?" (with Yung Chul Park), presented to a
conference on finacial market development in Asia, held in Honolulu, Hawaii,
February 2003.
"Would Collective Action Clauses Raise
Borrowing Costs?" (with Ashoka Mody), World Bank Policy Research Working Paper No. 2363, November 1999. See also May 2000 version. Revised version appears
in Economic Journal, 114:495, April 2004.