NBER Working Papers by Enrique G. Mendoza

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

Working Papers

June 2014Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
with Linda L. Tesar, Jing Zhang: w20200
December 2013Optimal Time-Consistent Macroprudential Policy
with Javier Bianchi: w19704
September 2013Distributional Incentives in an Equilibrium Model of Domestic Sovereign Default
with Pablo D'Erasmo: w19477
August 2013From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications
with Anton Korinek: w19362
May 2013Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets
with Katherine A. Smith: w19072
September 2012On the Solvency of Nations: Cross-Country Evidence on the Dynamics of External Adjustment
with C. Bora Durdu, Marco E. Terrones: w18380
An Anatomy of Credit Booms and their Demise
with Marco E. Terrones: w18379
Capital Mobility and International Sharing of Cyclical Risk
with Julien Bengui, Vincenzo Quadrini: w18372
May 2012Macro-Prudential Policy in a Fisherian model of Financial Innovation
with Javier Bianchi, Emine Boz: w18036
June 2011A General Equilibrium Model of Sovereign Default and Business Cycles
with Vivian Z. Yue: w17151
February 2011Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies
with Atish R. Ghosh, Jun I. Kim, Jonathan D. Ostry, Mahvash S. Qureshi: w16782
October 2010How Big (Small?) are Fiscal Multipliers?
with Ethan Ilzetzki, Carlos A. Végh: w16479
June 2010Overborrowing, Financial Crises and 'Macro-prudential' Taxes
with Javier Bianchi: w16091
May 2010Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis
with Emine Boz: w16020
October 2009Financial Globalization, Financial Crises and Contagion
with Vincenzo Quadrini: w15432
April 2009The Finnish Great Depression: From Russia with Love
with Yuriy Gorodnichenko, Linda L. Tesar: w14874
October 2008Sudden Stops, Financial Crises and Leverage: A Fisherian Deflation of Tobin's Q
May 2008An Anatomy Of Credit Booms: Evidence From Macro Aggregates And Micro Data
with Marco E. Terrones: w14049
March 2008A Solution to the Disconnect between Country Risk and Business Cycle Theories
with Vivian Z. Yue: w13861
September 2007On the Welfare Implications of Financial Globalization without Financial Development
with Vincenzo Quadrini, José-Victor Ríos-Rull: w13412
May 2007Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Merchantilism
with Ceyhun Bora Durdu, Marco E. Terrones: w13123
March 2007International Evidence on Fiscal Solvency: Is Fiscal Policy "Responsible"?
with Jonathan D. Ostry: w12947
February 2007Financial Integration, Financial Deepness and Global Imbalances
with Vincenzo Quadrini, Jose-Victor Rios-Rull: w12909
October 2006Fiscal Policy and Macroeconomic Uncertainty in Developing Countries: The Tale of the Tormented Insurer
with P. Marcelo Oviedo: w12586
Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints:A Fisherian Deflation of Tobin's Q
January 2006Lessons From the Debt-Deflation Theory of Sudden Stops
October 2005Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies
March 2005Are Asset Price Guarantees Useful for Preventing Sudden Stops?: A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff
with Ceyhun Bora Durdu: w11178
December 2004Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices
with Katherine A. Smith: w10940
September 2004Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees
with Ceyhun Bora Durdu: w10790
July 2004Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico
with P. Marcelo Oviedo: w10637
October 2003Winners and Losers of Tax Competition in the European Union
with Linda L. Tesar: w10051
June 2003A Quantitative Analysis of Tax Competition v. Tax Coordination under Perfect Capital Mobility
with Linda L. Tesar: w9746
October 2002Margin Calls, Trading Costs, and Asset Prices in Emerging Markets: The Finanical Mechanics of the 'Sudden Stop' Phenomenon
with Katherine A. Smith: w9286
May 2002Why Should Emerging Economies Give up National Currencies: A Case for 'Institutions Substitution'
April 2002Credit Frictions and 'Sudden Stops' in Small Open Economies: An Equilibrium Business Cycle Framework for Emerging Markets Crises
with Cristina Arellano: w8880
June 2001Credit, Prices, and Crashes: Business Cycles with a Sudden Stop
April 2001The International Macroeconomics of Taxation and the Case Against European Tax Harmonization
August 2000On the Benefits of Dollarization when Stabilization Policy is not Credible and Financial Markets are Imperfect
June 2000On the Instability of Variance Decompositions of the Real Exchange Rate across Exchange-Rate-Regimes: Evidence from Mexico and the United States
June 1999Regional Contagion and the Globalization of Securities Markets
with Guillermo A. Calvo: w7153
March 1999Devaluation Risk and the Syndrome of Exchange-Rate-Based Stabilizations
with Martin Uribe: w7014
The Business Cycles of Balance-of-Payment Crises: A Revision of Mundellan Framework
with Martin Uribe: w7045
April 1995Supply-Side Economics in a Global Economy
with Linda L. Tesar: w5086
September 1994Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption
with Assaf Razin, Linda L. Tesar: w4864

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

NBER Videos

National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email:

Contact Us