NBER Publications by Ricardo J. Caballero

Contact and additional information for this authorAll papers and publicationsWorking Papers onlyWorking Papers with publication info

Working Papers and Chapters

February 2014The Safety Trap
with Emmanuel Farhi: w19927
January 2013A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
with Emmanuel Farhi: w18737
December 2012Carry Trade and Systemic Risk: Why are FX Options so Cheap?
with Joseph B. Doyle: w18644
October 2010Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome
January 2010The "Other" Imbalance and the Financial Crisis
November 2009Fire Sales in a Model of Complexity
with Alp Simsek: w15479
May 2009Complexity and Financial Panics
with Alp Simsek: w14997
January 2009Global Imbalances and Financial Fragility
with Arvind Krishnamurthy: w14688
December 2008Financial Crash, Commodity Prices and Global Imbalances
with Emmanuel Farhi, Pierre-Olivier Gourinchas: w14521
October 2008Future Rent-Seeking and Current Public Savings
with Pierre Yared: w14417
June 2008Comment on "Cyclical Budgetary Policy and Economic Growth: What Do We Learn from OECD Panel Data?"
in NBER Macroeconomics Annual 2007, Volume 22, Daron Acemoglu, Kenneth Rogoff and Michael Woodford, editors
February 2008Inflating the Beast: Political Incentives Under Uncertainty
with Pierre Yared: w13779
July 2007Trade and Capital Flows: A Financial Frictions Perspective
with Pol AntrĂ s: w13241
May 2007Persistent Appreciations and Overshooting: A Normative Analysis
with Guido Lorenzoni: w13077
March 2007Price Stickiness in Ss Models: New Interpretations of Old Results
with Eduardo M.R.A. Engel: w12945
February 2007Collective Risk Management in a Flight to Quality Episode
with Arvind Krishnamurthy: w12896
December 2006On the Macroeconomics of Asset Shortages
June 2006Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model
with Ruediger Bachmann, Eduardo M.R.A. Engel: w12336
April 2006Zombie Lending and Depressed Restructuring in Japan
with Takeo Hoshi, Anil K. Kashyap: w12129
Flight to Quality and Collective Risk Management
with Arvind Krishnamurthy: w12136
February 2006An Equilibrium Model of "Global Imbalances" and Low Interest Rates
with Emmanuel Farhi, Pierre-Olivier Gourinchas: w11996
December 2005Financial System Risk and Flight to Quality
with Arvind Krishnamurthy: w11834
September 2005Bubbles and Capital Flow Volatility: Causes and Risk Management
with Arvind Krishnamurthy: w11618
May 2005A Quantitative Model of Sudden Stops and External Liquidity Management
with Stavros Panageas: w11293
December 2004Inflation Targeting and Sudden Stops
with Arvind Krishnamurthy
in The Inflation-Targeting Debate, Ben S. Bernanke and Michael Woodford, editors
September 2004Contingent Reserves Management: An Applied Framework
with Stavros Panageas: w10786
Effective Labor Regulation and Microeconomic Flexibility
with Ricardo J. Caballero, Kevin N. Cowan, Eduardo M.R.A. Engel, Alejandro Micco: w10744
May 2004Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective
with Arvind Krishnamurthy: w10517
Speculative Growth: Hints from the US Economy
with Emmanuel Farhi, Mohamad L. Hammour: w10518
Fear of Sudden Stops: Lessons from Australia and Chile
with Kevin Cowan, Jonathan Kearns: w10519
Fiscal Policy and Financial Depth
with Arvind Krishnamurthy: w10532
March 2004Microeconomic Flexibility in Latin America
with Eduardo Engel, Alejandro Micco: w10398
Three Strikes and You're Out: Reply to Cooper and Willis
with Eduardo M.R.A. Engel: w10368
August 2003Adjustment is Much Slower than You Think
with Eduardo Engel: w9898
June 2003Hedging Sudden Stops and Precautionary Contractions
with Stavros Panageas: w9778
April 2003Inflation Targeting and Sudden Stops
with Arvind Krishnamurthy: w9599
March 2003On the International Financial Architecture: Insuring Emerging Markets
December 2002Speculative Growth
with Mohamad L. Hammour: w9381
January 2002A Dual Liquidity Model for Emerging Markets
with Arvind Krishnamurthy: w8758
August 2001Smoothing Sudden Stops
with Arvind Krishnamurthy: w8427
A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-ante Problems
with Arvind Krishnamurthy: w8428
February 2001International Liquidity Illusion: On the Risks of Sterilization
with Arvind Krishnamurthy: w8141
October 2000International and Domestic Collateral Constraints in a Model of Emerging Market Crises
with Arvind Krishnamurthy: w7971
August 2000Creative Destruction and Development: Institutions, Crises, and Restructuring
with Mohamad L. Hammour: w7849
July 2000Macroeconomic Volatility in Latin America: A View and Three Case Studies
Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment
with Arvind Krishnamurthy: w7792
June 2000International Liquidity Management: Sterilization Policy in Illiquid Financial Markets
with Arvind Krishnamurthy: w7740
May 2000Institutions, Restructuring, and Macroeconomic Performance
with Mohamad L. Hammour: w7720
September 1999The Cost of Recessions Revisited: A Reverse-Liquidationist View
with Mohamad L. Hammour: w7355
December 1998Emerging Market Crises: An Asset Markets Perspective
with Arvind Krishnamurthy: w6843
September 1998Improper Churn: Social Costs and Macroeconomic Consequences
with Mohamad L. Hammour: w6717
February 1998Nonlinear Aggregate Investment Dynamics: Theory and Evidence
with Eduardo M.R.A. Engel: w6420
November 1997Aggregate Investment
October 1997Jobless Growth: Appropriability, Factor Substitution, and Unemployment
with Mohamad L. Hammour: w6221
September 1996The Macroeconomics of Specificity
with Mohamad L. Hammour: w5757
March 1996Fixed Costs: The Demise of Marginal q
with John V. Leahy: w5508
February 1996The "Fundamental Transformation" in Macroeconomics
with Mohamad L. Hammour: w5471
July 1995On the Ills of Adjustment
with Mohamad L. Hammour: w5198
February 1995Aggregate Employment Dynamics: Building From Microeconomic Evidence
with Eduardo M.R.A. Engel, John Haltiwanger: w5042
October 1994Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,s) Approach
with Eduardo M.R.A. Engel: w4887
June 1994On the Timing and Efficiency of Creative Destruction
with Mohamad L. Hammour: w4768
September 1993Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment
with Giuseppe Bertola: w4472
May 1993How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth
with Adam B. Jaffe: w4370
January 1993How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth
with Adam B. Jaffe
in NBER Macroeconomics Annual 1993, Volume 8, Olivier Jean Blanchard and Stanley Fischer, editors
September 1992Uncertainty, Investment, and Industry Evolution
with Robert S. Pindyck: w4160
Microeconomic Rigidities and Aggregate Price Dynamics
with Eduardo M.R.A. Engel: w4162
June 1992Microeconomic Adjustment Hazards and Aggregate Dynamics
with Eduardo M.R.A. Engel: w4090
Price Rigidities, Asymmetries, and Output Fluctuations
with Eduardo M.R.A. Engel: w4091
March 1992Near-Rationality, Heterogeneity and Aggregate Consumption
December 1991The Cleansing Effect of Recessions
with Mohamad L. Hammour: w3922
October 1991Irreversibility and Aggregate Investment
with Giuseppe Bertola: w3865
August 1991Short and Long Run Externalities
with Eric J. Bartelsman, Richard K. Lyons: w3810
June 1991Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy
with Eduardo M.R.A. Engel: w3729
Dynamic (S,s) Economies
with Eduardo M.R.A. Engel: w3734
A Fallacy of Composition
Durable Goods: An Explanation for Their Slow Adjustment
January 1990Kinked Adjustment Costs and Aggregate Dynamics
with Giuseppe Bertola
in NBER Macroeconomics Annual 1990, Volume 5, Olivier Jean Blanchard and Stanley Fischer, editors
July 1989The Role of External Economies in U.S. Manufacturing
with Richard K. Lyons: w3033

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