NBER Working Papers by Jeffrey D. Sachs

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Working Papers

April 2015Robots: Curse or Blessing? A Basic Framework
with Seth G. Benzell, Guillermo LaGarda: w21091
February 2015Robots Are Us: Some Economics of Human Replacement
with Seth G. Benzell, Laurence J. Kotlikoff, Guillermo LaGarda: w20941
October 2013Development, Structure, and Transformation: Some Evidence on Comparative Economic Growth
with Gordon C. McCord: w19512
December 2012Smart Machines and Long-Term Misery
with Laurence J. Kotlikoff: w18629
December 2007Scaling Up Malaria Control in Africa: An Economic and Epidemiological Assessment
with Awash Teklehaimanot, Gordon C. McCord: w13664
February 2007Africa's Lagging Demographic Transition: Evidence from Exogenous Impacts of Malaria Ecology and Agricultural Technology
with Dalton Conley, Gordon C. McCord: w12892
February 2003Institutions Don't Rule: Direct Effects of Geography on Per Capita Income
April 2002Geography, Economic Policy, and Regional Development in China
with Sylvie Demurger, Wing Thye Woo, Shuming Bao, Gene Chang, Andrew Mellinger: w8897

Published: Sylvie Démurger & Jeffrey D. Sachs & Wing Thye Woo & Shuming Bao & Gene Chang & Andrew Mellinger, 2002. "Geography, Economic Policy, and Regional Development in China," Asian Economic Papers, MIT Press, vol. 1(1), pages 146-197. citation courtesy of

February 2001Institutions and Geography: Comment on Acemoglu, Johnson and Robinson (2000)
with John W. McArthur: w8114
Tropical Underdevelopment
December 1998Geography and Economic Development
with John Luke Gallup, Andrew D. Mellinger: w6849


August 1998The Onset of the East Asian Financial Crisis
with Steven Radelet: w6680


February 1997Understanding China's Economic Performance
with Wing Thye Woo: w5935

Published: Jeffrey D. Sachs & Wing Thye Woo, 2001. "Understanding china's economic performance," The Journal of Policy Reform, vol 4(1), pages 1-50.

May 1996The Mexican Peso Crisis: Sudden Death or Death Foretold?
with Aaron Tornell, Andres Velasco: w5563

Published: Sachs, Jeffrey & Tornell, Aaron & Velasco, Andres, 1996. "The Mexican peso crisis: Sudden death or death foretold?," Journal of International Economics, Elsevier, vol. 41(3-4), pages 265-283, November. citation courtesy of

Financial Crises in Emerging Markets: The Lessons from 1995
with Aaron Tornell, Andres Velasco: w5576

Published: Brookings Papers on Economic Activity, 1996, No. 1 (vol. 27): 147-199 citation courtesy of

January 1996Reforms in Eastern Europe and the Former Soviet Union in Light of the East Asian Experiences

Published: Journal of the Japanese and International Economics (August 1995): 1-31.

Trends in Regional Inequality in China
with Tianlun Jian, Andrew M. Warner: w5412

Published: China Economic Review, Vol. 7, no. 1 (1996). citation courtesy of

December 1995Natural Resource Abundance and Economic Growth
with Andrew M. Warner: w5398


  • Sachs, Jeffrey D. and Andrew M. Warner. "The Big Rush, Natural Resource Booms And Growth," Journal of Development Economics, 1999, v59(1,Jun), 43-76.
  • Leading Issues in Economic Development, Oxford University Press, 2000.

June 1995The Collapse of the Mexican Peso: What Have We Learned?
with Aaron Tornell, Andres Velasco: w5142

Published: Economic Policy, no. 22 (April 1996).

February 1995Economic Convergence and Economic Policies
with Andrew M. Warner: w5039

Published: Brookings Papers on Economic Activity, ed. William Brainard and George Perry, 1:1995, 1-95, 108-118.

October 1991Fiscal Federalism and Optimum Currency Areas: Evidence for Europe From the United States
with Xavier Sala-i-Martin: w3855

Published: De Grauwe, Paul (ed.) The political economy of monetary union, Elgar Reference Collection. International Library of Critical Writings in Economics, vol. 134. Cheltenham, U.K. and Northampton, MA: Elgar, 2001.

September 1989The McKibbin-Sachs Global Model: Theory and Specifications
with Warwick J. McKibbin: w3100

Published: Brookings discussion paper #78, August 1989

April 1989Government Spending and Budget Deficits in the Industrial Economies
with Nouriel Roubini: w2919

Published: Economic Policy, No. 8, April 1989

March 1989Social Conflict and Populist Policies in Latin America

Published: Labor Relations and Economic Performance, R. Brunetta and C. Dell-Aringa (eds) Macmillan Press, 1989

August 1988Political and Economic Determinants of Budget Deficits in the IndustrialDemocracies
with Nouriel Roubini: w2682

Published: European Economic Review, vol 33 pp. 903-938, May 1989

July 1988Conditionality, Debt Relief, and the Developing Country Debt Crisis


June 1988Bolivia's Economic Crisis
with Juan Antonio Morales: w2620


The Debt Crisis: Structural Explanations of Country Performance
with Andrew Berg: w2607

Published: Journal of Development Economics 29 1988, 271-306translation in Trimestre Economica Vol. LVI, July 1989, Mexico citation courtesy of

Japanese Structural Adjustment and the Balance of Payments
with Peter Boone: w2614

Published: Journal of Japanese and International Economics, Vol, 1988

Default and Renegotiation of Latin American Foreign Bonds in the Interwar Period
with Erika Jorgensen: w2636

Published: A Long Run Perspective on the Debt Crisis, B. Eichengreen and P. Lindert (eds) 1989

December 1987U.S. Commercial Banks and the Developing Country Debt Crisis
with Harry Huizinga: w2455

Published: Sachs, Jeffrey and Harry Huizinga. "U.S. Commercial Banks and the Developing-Country Debt Crisis." Brookings Papers on Economic Activity, 1987:2, pp. 555-606. citation courtesy of

August 1987Sources of Macroeconomic Imbalances in the World Economy: A Simulation Approach
with Nouriel Roubini: w2339

Published: Toward a World of Economic Stability, (ed) Yoshio Suzuki and Mitsuaki Okabe University of Tokyo Press: Tokyo, Japan, 1988.

June 1987International Policy Coordination: The Case of the Developing Country Debt Crisis

Published: International Economic Cooperation, Martin Feldstein, NBER and UCP, 1988

May 1987Institutional Aspects of High Unemployment in the Federal Republic of Germany
with Michael C. Burda: w2241

Published: World Economy, 1988 Fall

Capital Controls and the Timing of Exchange Regime Collapse
with Daekuen Park: w2250

Published: Daekeun Park & Jeffrey D. Sachs, 1996. "The Timing Of Exchange Regime Collapse Under Capital Controls," International Economic Journal, Korean International Economic Association, vol. 10(4), pages 123-141, December.

April 1987Trade and Exchange Rate Policies in Growth-Oriented Adjustment Programs

Published: Growth Oriented Adjustment Programs, Washington DC IMF and World Bank Vittorio Corbo and M Khan and G. Goldstein eds., Spanish Translation in Revista de Economica Politica, Vol 8, No. 2, (30), April - June 1988

Dynamic Optimization in Two-Party Models
with Warwick J. McKibbin, Nouriel Roubini: w2213
November 1986The Bolivian Hyperinflation and Stabilization

Published: AEA Papers and Proceedings, Vol 77, No. 2, May 1987

Contractionary Devaluation, and Dynamic Adjustment of Exports and Wages
with Felipe Larrain: w2078
September 1986Comparing the Performance of Alternative Exchange Arrangements
with Warwick J. McKibbin: w2024

Published: Journal of Policy Modelling (1998).

June 1986Political Parties and the Business Cycle in the United States, 1948-1984
with Alberto Alesina: w1940

Published: Alesina, Alberto and Jeffrey Sachs, "Political Parties and the Business Cycle in the United States, 1948-1984." Journal of Money Credit and Banking, Vol. 20, No. 1, February 1988, pp. 63-82. citation courtesy of

February 1986High Unemployment in Europe: Diagnosis and Policy Implications

Published: Unemployment in Europe, C-H Siven ed, September 1985, SAF, Stockholm, SWEDE N

1986Coordination of Monetary and Fiscal Policies in the OECD
with Warwick J. McKibbin: w1800

Published: McKibbin, Warwick and Jeffrey D. Sachs "Coordination of Monetary and Fiscal Policies in the OECD," International Aspects of Fiscal Policies, ed. J. Frenkel, Chicago: UCP, 1988.

September 1985Growth and External Debt Under Risk of Debt Repudiation
with Daniel Cohen: w1703


June 1985The Dollar and the Policy Mix: 1985


  • Sachs, Jeffrey D. "The Dollar And The Policy Mix: 1985," Brookings Papers, 1985, v16(1), 117-185.
  • Phelps, Edmund (ed.) Recent Developments in Macroeconomics. Glasgow: Edward Elgar Publishing, 1991.

Macroeconomic Interdependence of Japan and the United States: Some Simulation Results
with Naoko Ishii, Warwick J. McKibbin: w1637

Published: Journal of Policy Modelling, Winter 1985, 533-572

1985Macroeconomic Policies in the OECD and LDC External Adjustmemt
with Warwick J. McKibbin: w1534
November 1984Exchange Rates and Economic Recovery in the 1930s
with Barry J. Eichengreen: w1498


  • Eichengreen, Barry and Jeffrey Sachs. "Exchange Rates and Economic Recovery in the 1930s," Journal of Economic History, Vol. XLV, No. 4, (December 1 985), pp. 925-946.*Reprinted in Depressions & New Deal, Burwood, Stephen, ed., Garland, 1989. citation courtesy of
  • *Reprinted in The Disintegration of the World Economy Between the Wars, Thomas, Mark, ed., Edward Elgen, 1995.

September 1984Developing Country Debt and the Market Value of Large Commercial Banks
with Steven C. Kyle: w1470
August 1984International Policy Coordination in Dynamic Macroeconomic Models
with Gilles Oudiz: w1417


  • Oudiz, Gilles and Jeffrey Sachs. "Macroeconomic Policy Coordination Among The Industrial Economies," Brookings Papers, 1984, v15(1), 1-64.
  • Oudiz, Gilles and Jeffrey Sachs. "International Policy Coordination Dynamic Macroeconomic Models." International Economic Policy Coordination, edited by Willem H. Buiter and Richard C. Marston, pp. 274-319, Cambridge University Press (London), 1985
  • International Policy Coordination in Dynamic Macroeconomic Models, Gilles Oudiz, Jeffrey Sachs. in International Economic Policy Coordination, Buiter and Marston. 1985

Borrowing Abroad: The Debtor's Perspective
with Richard N. Cooper: w1427

Published: Cooper, Richard N. and Jeffrey D. Sachs. "Borrowing Abroad: The Debtor's Perspective." International Debt and Developing Countries, edited by Gordon W. Smith and John T. Cuddington. Washington: World Bank Symposium, (March 1985), Washington: D.C.

1984Real Exchange Rate Effects of Fiscal Policy
with Charles Wyplosz: w1255
August 1983Theoretical Issues in International Borrowing
July 1983International Policy Coordination in a Dynamic Macroeconomic Model
June 1983Multiple Shooting in Rational Expectations Models
with David Lipton, James M. Poterba, Lawrence H. Summers: t0003

Published: Lipton, D., J. Poterba, J. Sachs, and L. Summers. "Multiple Shooting in Rational Expectations Models." Econometrica, Vol. 50, (1982), pp. 1329-1333.

August 1982Anticipations, Recessions and Policy: An Intertemporal Disequilibrium Model
with Olivier J. Blanchard: w0971

Published: Blanchard, Olivier J. and Jeffrey Sachs. "Anticipations, Recessions and Policy: An Intertemporal Disequilibrium Model." Annales De L'Insee, Vol. 47/48 , (December 1982), pp. 117-144.

July 1982LDC Borrowing with Default Risk
with Daniel Cohen: w0925

Published: Kredit and Kapital, 1985

February 1982Input Price Shocks and the Slowdown in Economic Growth: The Case of U.K.Manufacturing
with Michael Bruno: w0851


Energy and Resource Allocation: A Dynamic Model of the "Dutch Disease"
with Michael Bruno: w0852

Published: Bruno, Michael and Jeffrey Sachs. "Energy and Resources Allocation: A Dynamic Model of the "Dutch Disease."" Review of Economic Studies, Vol. 51, No. 159, (1982), pp. 845-859.

Aspects of the Current Account Behavior of OECD Economies
LDC Debt in the 1980s: Risk and Reforms

Published: LDC Debt: Problems and Prospects", P. Watchel Ed., Crisis in Economic and Financial Structure, (Lexington Books, 1982)

Stabilization Policies in the World Economy: Scope and Skepticism

Published: Sachs, Jeffrey. "Stabilization Policies in the World Economy: Scope and Skepticism." The American Economic Review, Vol. 72, No. 2 (May 1982), pp. 56-6 0.

November 1981The Current Account in the Eacroeconomic Adjustment Process

Published: Scandanavian Journal of Economics Volume 84, No. 2, 1982

September 1981The International Economics of Transitional Growth: The Case of the United States
with Laurence J. Kotlikoff, Edward E. Leamer: w0773

Published: RECD, Vol. 2, no. 3 (July 1999): 532-574.

November 1980Energy and Growth under Flexible Exchange Rates: A Simulation Study

Published: Sachs, Jeffrey. "Energy and Growth under Flexible Exchange Rates: A Simulation Study." Economic Interdependence and Flexible Exchange Rates, edited by J. S. Bhandari and B. H. Putnam, pp. 191-220. Cambridge: MIT Press, 1983.

October 1980Accumulation and Growth in a Two-Country Model: A Simulation Approach
with David Lipton: w0572


  • with D. Lipton, Journal of International Economics, 15(1/2), 135-159 August 1983
  • Lipton, David and Jeffrey Sachs. "Accumulation and Growth in a Two-Country Model: A Simulation Approach." Journal of Economic Literature, Vol. 22, No. 1, (March 1984).

August 1980Wages, Profits, and Macroeconomic Adjustment: A Comparative Study

Published: Sachs, Jeffrey D. "Wages, Profits, and Macroeconomic Adjustment: A Comparative Study." Brookings Papers on Economic Inquiry, edited by Arthur M. Okunand George L. Perry, Vol. 2, pp. 269-332. Washington, D.C.: The Brookings Institution, 1979.

August 1979Supply vs. Demand Approaches to the Problem of Stagflation
with Michael Bruno: w0382

Published: H. Giersch (ed.), Macroeconomic Policies for Growth and Stability,(Kiel: Institut fur Weltwirtschaft, 1981

April 1979Macro-Economic Adjustment With Import Price Shocks: Real and Monetary Aspects
with Michael Bruno: w0340
December 1978The Changing Cyclical Behavior of Wages and Prices: 1890-1976

Published: Sachs, Jeffrey. "The Changing Cyclical Behavior of Wages and Prices: 1890-1 976." American Economic Review (March 1980).

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