NBER Papers in JEL Code F4: Macroeconomic Aspects of International Trade and Finance

w23818 Nida Çakir Melek
Michael Plante
Mine K. Yücel

The U.S. Shale Oil Boom, the Oil Export Ban, and the Economy: A General Equilibrium Analysis
w23836 Fabio Ghironi
Macro Needs Micro
w23764 Kimberly A. Berg
Nelson Mark

Global Macro Risks in Currency Excess Returns
w23757 James E. Anderson
Mario Larch
Yoto V. Yotov

Trade and Investment in the Global Economy
w23705 Javier Cravino
Samuel E. Haltenhof

Real Exchange Rates, Income per Capita, and Sectoral Input Shares
w23716 Thomas Drechsel
Silvana Tenreyro

Commodity Booms and Busts in Emerging Economies
w23651 Elena Gerko
Hélène Rey

Monetary Policy in the Capitals of Capital
w23663 Jeffrey A. Frankel
Systematic Managed Floating
w23671 J. Scott Davis
Eric van Wincoop

Globalization and the Increasing Correlation between Capital Inflows and Outflows
w23675 Seth G. Benzell
Laurence J. Kotlikoff
Guillermo LaGarda

Simulating Business Cash Flow Taxation: An Illustration Based on the "Better Way" Corporate Tax Reform
w23599 Jesús Fernández-Villaverde
Tano Santos

Institutions and Political Party Systems: The Euro Case
w23612 Patrick Bolton
Haizhou Huang

The Capital Structure of Nations
w23500 Chuantian He
Chunding Li
John Whalley

General Equilibrium Trade Modelling with Canada-US Transportation Costs
w23467 Joshua Aizenman
Yothin Jinjarak
Gemma Estrada
Shu Tian

Flexibility of Adjustment to Shocks: Economic Growth and Volatility of Middle-Income Countries Before and After the Global Financial Crisis of 2008
w23474 Anusha Chari
Karlye Dilts Stedman
Christian Lundblad

Taper Tantrums: QE, its Aftermath and Emerging Market Capital Flows
w23440 Maurice Obstfeld
Alan M. Taylor

International Monetary Relations: Taking Finance Seriously
w23401 Oleg Itskhoki
Dmitry Mukhin

Exchange Rate Disconnect in General Equilibrium
w23363 Philippe Bacchetta
Eric van Wincoop

Gradual Portfolio Adjustment: Implications for Global Equity Portfolios and Returns
w23341 Woo Jin Choi
Alan M. Taylor

Precaution Versus Mercantilism: Reserve Accumulation, Capital Controls, and the Real Exchange Rate
w23293 Vahid Gholampour
Eric van Wincoop

What can we Learn from Euro-Dollar Tweets?
w23267 Yin-Wong Cheung
Menzie D. Chinn
Antonio Garcia Pascual
Yi Zhang

Exchange Rate Prediction Redux: New Models, New Data, New Currencies
w23246 Raphael A. Auer
Andrei A. Levchenko
Philip Sauré

International Inflation Spillovers Through Input Linkages
w23235 Patrick J. Kehoe
Elena Pastorino

Financial Markets and Fiscal Unions
w23217 Ellen R. McGrattan
Andrea Waddle

The Impact of Brexit on Foreign Investment and Production
w23169 Enrique Alberola
Gianluca Benigno

Revisiting the Commodity Curse: A Financial Perspective
w23205 Tamim Bayoumi
Barry Eichengreen

Aftershocks of Monetary Unification: Hysteresis with a Financial Twist
w23149 Yusuf Soner Baskaya
Julian di Giovanni
Sebnem Kalemli-Ozcan
Mehmet Fatih Ulu

International Spillovers and Local Credit Cycles
w23147 Christopher L. House
Christian Proebsting
Linda L. Tesar

Austerity in the Aftermath of the Great Recession
w23158 Martin Eichenbaum
Benjamin K. Johannsen
Sergio Rebelo

Monetary Policy and the Predictability of Nominal Exchange Rates
w23134 Ethan Ilzetzki
Carmen M. Reinhart
Kenneth S. Rogoff

Exchange Arrangements Entering the 21st Century: Which Anchor Will Hold?
w23124 Geert Bekaert
Arnaud Mehl

On the Global Financial Market Integration "Swoosh" and the Trilemma
w23135 Ethan Ilzetzki
Carmen M. Reinhart
Kenneth S. Rogoff

The Country Chronologies to Exchange Rate Arrangements into the 21st Century: Will the Anchor Currency Hold?
w23136 Sushant Acharya
Jess Benhabib
Zhen Huo

The Anatomy of Sentiment-Driven Fluctuations
w23116 Stefan Avdjiev
Bryan Hardy
Sebnem Kalemli-Ozcan
Luis Servén

Gross Capital Inflows to Banks, Corporates and Sovereigns
w23065 Karen K. Lewis
Edith X. Liu

Disaster Risk and Asset Returns: An International Perspective
w23074 Òscar Jordà
Moritz Schularick
Alan M. Taylor

Large and State-Dependent Effects of Quasi-Random Monetary Experiments
w23004 Anton Korinek
Currency Wars or Efficient Spillovers? A General Theory of International Policy Cooperation
w22971 Stephanie Schmitt-Grohé
Martín Uribe

Adjustment to Small, Large, and Sunspot Shocks in Open Economies With Stock Collateral Constraints
w22974 Robert C. Johnson
Guillermo Noguera

A Portrait of Trade in Value Added over Four Decades
w22868 Enrique G. Mendoza
Macroprudential Policy: Promise and Challenges
w22872 Joshua Aizenman
Yin-Wong Cheung
Hiro Ito

The Interest Rate Effect on Private Saving: Alternative Perspectives
w22847 Mark Aguiar
Manuel Amador
Hugo Hopenhayn
Iván Werning

Take the Short Route: Equilibrium Default and Debt Maturity
w22833 Andrés Fernández
Stephanie Schmitt-Grohé
Martín Uribe

World Shocks, World Prices, and Business Cycles: An Empirical Investigation
w22790 Tarek A. Hassan
Thomas M. Mertens
Tony Zhang

Currency Manipulation
w22751 Ricardo J. Caballero
Alp Simsek

A Model of Fickle Capital Flows and Retrenchment
w22758 Richard H. Clarida
Ildikó Magyari

International Financial Adjustment in a Canonical Open Economy Growth Model
w22737 Joshua Aizenman
Menzie D. Chinn
Hiro Ito

Balance Sheet Effects on Monetary and Financial Spillovers: The East Asian Crisis Plus 20
w22741 Kristin Forbes
Ida Hjortsoe
Tsvetelina Nenova

Current Account Deficits During Heightened Risk: Menacing or Mitigating?
w22743 Òscar Jordà
Moritz Schularick
Alan M. Taylor

Macrofinancial History and the New Business Cycle Facts
w22699 Joshua Aizenman
Yothin Jinjarak
Huanhuan Zheng

House Valuations and Economic Growth: Some International Evidence
w22705 Marina Azzimonti
The Politics of FDI Expropriation
w22645 Jose Berrospide
Ricardo Correa
Linda Goldberg
Friederike Niepmann

International Banking and Cross-border Effects of Regulation: Lessons from the United States
w22618 Pierre-Olivier Gourinchas
Hélène Rey

Real Interest Rates, Imbalances and the Curse of Regional Safe Asset Providers at the Zero Lower Bound
w22567 Assaf Razin
Steven Rosefielde

Israel and the 1990-2015 Global Developments: Riding with the Global Flows and Weathering the Storms
w22539 Yin-Wong Cheung
Menzie Chinn
Xin Nong

Estimating Currency Misalignment Using the Penn Effect: It's Not as Simple As It Looks
w22506 Craig Benedict
Mario J. Crucini
Anthony Landry

On What States Do Prices Depend? Answers From Ecuador
w22481 Stephanie Schmitt-Grohé
Martín Uribe

Is Optimal Capital-Control Policy Countercyclical In Open-Economy Models With Collateral Constraints?
w22489 Jordi Galí
Tommaso Monacelli

Understanding the Gains from Wage Flexibility: The Exchange Rate Connection
w22498 Javier Cravino
Andrei A. Levchenko

Multinational Firms and International Business Cycle Transmission
w22460 Kan Chen
Mario Crucini

Trends and Cycles in Small Open Economies: Making The Case For A General Equilibrium Approach
w22388 Olivier Blanchard
Currency Wars, Coordination, and Capital Controls
w22377 Roberto Chang
Andrés Fernández
Adam Gulan

Bond Finance, Bank Credit, and Aggregate Fluctuations in an Open Economy
w22362 Daqing Yao
John Whalley

Global Service Efficiency and the Role of Special and Differential Based Negotiation
w22370 Pierre-Olivier Gourinchas
Thomas Philippon
Dimitri Vayanos

The Analytics of the Greek Crisis
w22330 Harold Cole
Daniel Neuhann
Guillermo Ordoñez

Debt Crises: For Whom the Bell Tolls
w22295 Emmanuel Farhi
Matteo Maggiori

A Model of the International Monetary System
w22264 Stephanie Schmitt-Grohé
Martín Uribe

Multiple Equilibria in Open Economy Models with Collateral Constraints: Overborrowing Revisited
w22268 Joshua Aizenman
Hiro Ito

East Asian Economies and Financial Globalization In the Post-Crisis World
w22270 Benjamin Hébert
Jesse Schreger

The Costs of Sovereign Default: Evidence from Argentina
w22224 Gianluca Benigno
Huigang Chen
Christopher Otrok
Alessandro Rebucci
Eric R. Young

Optimal Capital Controls and Real Exchange Rate Policies: A Pecuniary Externality Perspective
w22172 Gauti B. Eggertsson
Neil R. Mehrotra
Lawrence H. Summers

Secular Stagnation in the Open Economy
w22147 Michael E. Waugh
B. Ravikumar

Measuring Openness to Trade
w22128 Matteo Cacciatore
Romain Duval
Giuseppe Fiori
Fabio Ghironi

Market Reforms in the Time of Imbalance
w22139 Olivier Jeanne
Damiano Sandri

Optimal Reserves in Financially Closed Economies
w22138 Nuno Limão
Preferential Trade Agreements
w22142 Alberto F. Cavallo
Are Online and Offline Prices Similar? Evidence from Large Multi-Channel Retailers
w22111 Alberto Cavallo
Roberto Rigobon

The Billion Prices Project: Using Online Prices for Measurement and Research
w22097 Joshua Aizenman
Optimal Currency Area: A 20th Century Idea For the 21st Century?
w22044 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Safe Asset Scarcity and Aggregate Demand
w21955 Roberto Chang
Andrés Velasco

Financial Frictions and Unconventional Monetary Policy in Emerging Economies
w21958 Carmen M. Reinhart
Vincent Reinhart
Christoph Trebesch

Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015
w21878 Jeffrey A. Frankel
International Coordination
w21885 Julian di Giovanni
Andrei A. Levchenko
Isabelle Mejean

The Micro Origins of International Business Cycle Comovement
w21898 Jonathan Heathcote
Fabrizio Perri

On the Desirability of Capital Controls
w21840 Jose Asturias
Sewon Hur
Timothy J. Kehoe
Kim J. Ruhl

The Interaction and Sequencing of Policy Reforms
w21844 Francisco J. Buera
Ezra Oberfield

The Global Diffusion of Ideas
w21852 Hélène Rey
International Channels of Transmission of Monetary Policy and the Mundellian Trilemma
w21813 Jeffrey Frankel
The Plaza Accord, 30 Years Later
w21817 Nicolas Coeurdacier
Hélène Rey
Pablo Winant

Financial Integration and Growth in a Risky World
w21805 Carmen M. Reinhart
Christoph Trebesch

The International Monetary Fund: 70 Years of Reinvention
w21784 Matteo Cacciatore
Romain Duval
Giuseppe Fiori
Fabio Ghironi

Short-Term Pain for Long-Term Gain: Market Deregulation and Monetary Policy in Small Open Economies
w21791 Michael B. Devereux
Eric R. Young
Changhua Yu

A New Dilemma: Capital Controls and Monetary Policy in Sudden Stop Economies
w21793 Joshua Aizenman
International Coordination and Precautionary Policies
w21774 Jonathan Eaton
Samuel S. Kortum
Brent Neiman

Obstfeld and Rogoff's International Macro Puzzles: A Quantitative Assessment
w21773 David Backus
Chase Coleman
Axelle Ferriere
Spencer Lyon

Pareto Weights as Wedges in Two-Country Models
w21744 Lee E. Ohanian
Paulina Restrepo-Echavarria
Mark L. J. Wright

Bad Investments and Missed Opportunities? Postwar Capital Flows to Asia and Latin America
w21722 Silvia Miranda-Agrippino
Hélène Rey

World Asset Markets and the Global Financial Cycle
w21699 Isaac Ehrlich
Jinyoung Kim

Immigration, Human Capital Formation and Endogenous Economic Growth
w21688 Christopher L. House
Linda L. Tesar

Greek Budget Realities: No Easy Options
w21670 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

Global Imbalances and Currency Wars at the ZLB.
w21646 Gita Gopinath
The International Price System
w21606 Assaf Razin
Efraim Sadka

Migration State and Welfare State: Competition vs. Coordination in an Economic Union
w21574 Pablo D'Erasmo
Enrique G. Mendoza
Jing Zhang

What is a Sustainable Public Debt?
w21498 Francesco Caselli
Miklós Koren
Milan Lisicky
Silvana Tenreyro

Diversification through Trade
w21444 Joseph E. Stiglitz
Towards a General Theory of Deep Downturns
w21453 Gita Gopinath
Sebnem Kalemli-Ozcan
Loukas Karabarbounis
Carolina Villegas-Sanchez

Capital Allocation and Productivity in South Europe
w21471 Eswar Prasad
Boyang Zhang

Distributional Effects of Monetary Policy in Emerging Market Economies
w21413 Michael B. Devereux
Ben Tomlin
Wei Dong

Exchange Rate Pass-Through, Currency of Invoicing and Market Share
w21426 Olivier Blanchard
Christopher J. Erceg
Jesper Lindé

Jump Starting the Euro Area Recovery: Would a Rise in Core Fiscal Spending Help the Periphery?
w21427 Olivier Blanchard
Gustavo Adler
Irineu de Carvalho Filho

Can Foreign Exchange Intervention Stem Exchange Rate Pressures from Global Capital Flow Shocks?
w21377 James E. Anderson
Mario Larch
Yoto V. Yotov

Growth and Trade with Frictions: A Structural Estimation Framework
w21287 Michael D. Bordo
Christopher M. Meissner

Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises
w21244 Chun Chang
Kaiji Chen
Daniel F. Waggoner
Tao Zha

Trends and Cycles in China's Macroeconomy
w21253 Stephanie Schmitt-Grohé
Martín Uribe

How Important Are Terms Of Trade Shocks?
w21159 Menzie D. Chinn
Yi Zhang

Uncovered Interest Parity and Monetary Policy Near and Far from the Zero Lower Bound
w21128 Joshua Aizenman
Menzie D. Chinn
Hiro Ito

Monetary Policy Spillovers and the Trilemma in the New Normal: Periphery Country Sensitivity to Core Country Conditions
w21121 Luigi Guiso
Paola Sapienza
Luigi Zingales

Monnet's Error?
w21100 Alan J. Auerbach
Yuriy Gorodnichenko

Effects of Fiscal Shocks in a Globalized World
w21087 Klaus Desmet
Dávid Krisztián Nagy
Esteban Rossi-Hansberg

The Geography of Development: Evaluating Migration Restrictions and Coastal Flooding
w21089 Joshua Aizenman
Yothin Jinjarak
Huanhuan Zheng

Chinese Outwards Mercantilism - the Art and Practice of Bundling
w21070 Rudolfs Bems
Robert C. Johnson

Demand for Value Added and Value-Added Exchange Rates
w21039 Alan M. Taylor
Credit, Financial Stability, and the Macroeconomy
w21042 Charles Engel
Exchange Rates, Interest Rates, and the Risk Premium
w21026 Juan Carlos Conesa
Timothy J. Kehoe

Gambling for Redemption and Self-Fulfilling Debt Crises
w21010 Andrei A. Levchenko
Nitya Pandalai-Nayar

TFP, News, and "Sentiments:" The International Transmission of Business Cycles
w20987 Kristin J. Forbes
Michael W. Klein

Pick Your Poison: The Choices and Consequences of Policy Responses to Crises
w20964 Sebastian Edwards
Sovereign Default, Debt Restructuring, and Recovery Rates: Was the Argentinean "Haircut" Excessive?
w20951 Charles Engel
Macroprudential Policy in a World of High Capital Mobility: Policy Implications from an Academic Perspective
w20952 Charles Engel
International Coordination of Central Bank Policy
w20924 Daqing Yao
John Whalley

The China (Shanghai) Pilot Free Trade Zone: Background, Developments and Preliminary Assessment of Initial Impacts
w20943 Joshua Aizenman
The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China
w20898 Pranjul Bhandari
Jeffrey A. Frankel

Nominal GDP Targeting for Developing Countries
w20872 Alessandra Fogli
Fabrizio Perri

Macroeconomic Volatility and External Imbalances
w20881 Jesse Perla
Christopher Tonetti
Michael E. Waugh

Equilibrium Technology Diffusion, Trade, and Growth
w20857 Rabah Arezki
Valerie A. Ramey
Liugang Sheng

News Shocks in Open Economies: Evidence from Giant Oil Discoveries
w20860 Kristin Forbes
Marcel Fratzscher
Roland Straub

Capital Flow Management Measures: What Are They Good For?
w20822 Gurnain Pasricha
Matteo Falagiarda
Martin Bijsterbosch
Joshua Aizenman

Domestic and Multilateral Effects of Capital Controls in Emerging Markets
w20803 Markus K. Brunnermeier
Yuliy Sannikov

International Credit Flows and Pecuniary Externalities
w20805 Anton Korinek
Damiano Sandri

Capital Controls or Macroprudential Regulation?
w20771 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

Betting the House
w20726 Laura Alfaro
Anusha Chari
Fabio Kanczuk

The Real Effects of Capital Controls: Firm-Level Evidence from a Policy Experiment
w20675 Carlos A. Vegh
Guillermo Vuletin

The Road to Redemption: Policy Response to Crises in Latin America
w20612 Pablo Federico
Carlos A. Vegh
Guillermo Vuletin

Reserve Requirement Policy over the Business Cycle
w20564 Joshua Aizenman
Gunnar Gunnarsson

Fiscal Challenges in Multilayered Unions: An Overview and Case Study
w20572 Philippe Martin
Thomas Philippon

Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone
w20526 Michael B. Devereux
Changhua Yu

International Financial Integration and Crisis Contagion
w20527 Horag Choi
Steven Lugauer
Nelson C. Mark

Precautionary Saving of Chinese and U.S. Households
w20533 Daniel Riera-Crichton
Carlos A. Vegh
Guillermo Vuletin

Procyclical and Countercyclical Fiscal Multipliers: Evidence from OECD Countries
w20498 Fernando Leibovici
Michael E. Waugh

International Trade and Intertemporal Substitution
w20510 Martin Berka
Michael B. Devereux
Charles Engel

Real Exchange Rates and Sectoral Productivity in the Eurozone
w20454 Michael P. Dooley
David Folkerts-Landau
Peter M. Garber

The Revived Bretton Woods System's First Decade
w20425 Chunding Li
Jing Wang
John Whalley

Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals
w20406 Yuriy Gorodnichenko
Oleksandr Talavera

Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-border Integration
w20286 Claudia M. Buch
Linda S. Goldberg

International Banking and Liquidity Risk Transmission: Lessons from Across Countries
w20314 Seunghoon Na
Stephanie Schmitt-Grohé
Martin Uribe
Vivian Z. Yue

The Twin Ds: Optimal Default and Devaluation
w20228 Michael D. Bordo
Ehsan U. Choudhri
Giorgio Fazio
Ronald MacDonald

The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered
w20252 Michael B. Devereux
James Yetman

Globalisation, Pass-through and the Optimal Policy Response to Exchange Rates
w20242 Joshua Aizenman
The Eurocrisis: Muddling Through, or On the Way to a More Perfect Euro Union?
w20220 Kris James Mitchener
Kirsten Wandschneider

Capital Controls and Recovery from the Financial Crisis of the 1930s
w20225 Alberto Cavallo
Brent Neiman
Roberto Rigobon

The Price Impact of Joining a Currency Union: Evidence from Latvia
w20200 Enrique G. Mendoza
Linda L. Tesar
Jing Zhang

Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies
w20061 Julian di Giovanni
Andrei Levchenko
Isabelle Mejean

Firms, Destinations, and Aggregate Fluctuations
w20063 Robert C. Feenstra
Philip A. Luck
Maurice Obstfeld
Katheryn N. Russ

In Search of the Armington Elasticity
w19994 Oleg Itskhoki
Benjamin Moll

Optimal Development Policies with Financial Frictions
w20003 Ron Alquist
Olivier Coibion

Commodity-Price Comovement and Global Economic Activity
w19967 Olivier Jeanne
Macroprudential Policies in a Global Perspective
w19968 Doireann Fitzgerald
Stefanie Haller

Exporters and Shocks: Dissecting the International Elasticity Puzzle
w19934 Anusha Chari
Peter Blair Henry

Learning From the Doers: Developing Country Lessons for Advanced Economy Growth
w19924 Alan M. Taylor
The Argentina Paradox: Microexplanations and Macropuzzles
w19926 Gregory Clark
Kevin Hjortshøj O'Rourke
Alan M. Taylor

The Growing Dependence of Britain on Trade during the Industrial Revolution
w19828 Carlos A. Vegh
Guillermo Vuletin

Social Implications of Fiscal Policy Responses During Crises
w19840 Anusha Chari
Peter Blair Henry

Two Tales of Adjustment: East Asian Lessons for European Growth
w19854 Xavier Gabaix
Matteo Maggiori

International Liquidity and Exchange Rate Dynamics
w19823 Carmen M. Reinhart
Kenneth S. Rogoff

Recovery from Financial Crises: Evidence from 100 Episodes
w19739 Joshua Aizenman
Yothin Jinjarak
Nancy P. Marion

China's Growth, Stability, and Use of International Reserves
w19748 Luis Felipe Céspedes
Andrés Velasco

Was This Time Different? Fiscal Policy in Commodity Republics
w19717 Mark Aguiar
Manuel Amador

Take the Short Route: How to Repay and Restructure Sovereign Debt with Multiple Maturities
w19706 Conghui Hu
Wei Xiong

Are Commodity Futures Prices Barometers of the Global Economy?
w19676 Fernando Broner
Aitor Erce
Alberto Martin
Jaume Ventura

Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects
w19671 Andrés Fernández
Alessandro Rebucci
Martín Uribe

Are Capital Controls Prudential? An Empirical Investigation
w19668 Eswar S. Prasad
Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies
w19641 Andrei A. Levchenko
Jing Zhang

Ricardian Productivity Differences and the Gains from Trade
w19652 Carmen M. Reinhart
Takeshi Tashiro

Crowding Out Redefined: The Role of Reserve Accumulation
w19588 David Cook
Michael B. Devereux

The Optimal Currency Area in a Liquidity Trap
w19580 Olivier Accominotti
Barry Eichengreen

The Mother of All Sudden Stops: Capital Flows and Reversals in Europe, 1919-32
w19506 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

Sovereigns versus Banks: Credit, Crises, and Consequences
w19448 Joshua Aizenman
Hiro Ito

Living with the Trilemma Constraint: Relative Trilemma Policy Divergence, Crises, and Output Losses for Developing Countries
w19461 Michael W. Klein
Jay C. Shambaugh

Rounding the Corners of the Policy Trilemma: Sources of Monetary Policy Autonomy
w19388 Mark Aguiar
Manuel Amador

Sovereign Debt: A Review
w19356 Paul R. Bergin
Giancarlo Corsetti

International Competitiveness and Monetary Policy: Strategic Policy and Coordination with a Production Relocation Externality
w19362 Anton Korinek
Enrique G. Mendoza

From Sudden Stops to Fisherian Deflation: Quantitative Theory and Policy Implications
w19336 Charles Engel
Exchange Rates and Interest Parity
w19280 Mark Egan
Tomas J. Philipson

International Health Economics
w19288 Ricardo Reis
The Portuguese Slump and Crash and the Euro Crisis
w19291 Qingyuan Du
Shang-Jin Wei
Peichu Xie

Roads and the Real Exchange Rate
w19249 Thomas J. Holmes
Ellen R. McGrattan
Edward C. Prescott

Quid Pro Quo: Technology Capital Transfers for Market Access in China
w19240 Pierre-Olivier Gourinchas
Hélène Rey

External Adjustment, Global Imbalances and Valuation Effects
w19170 Thomas Chaney
Liquidity Constrained Exporters
w19093 Franziska Bremus
Claudia Buch
Katheryn Russ
Monika Schnitzer

Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity
w19062 Philippe Bacchetta
Eric van Wincoop

The Great Recession: A Self-Fulfilling Global Panic
w19072 Enrique G. Mendoza
Katherine A. Smith

Financial Globalization, Financial Crises, and the External Portfolio Structure of Emerging Markets
w19025 Matteo Cacciatore
Giuseppe Fiori
Fabio Ghironi

Market Deregulation and Optimal Monetary Policy in a Monetary Union
w18985 Linda S. Goldberg
Cédric Tille

A Bargaining Theory of Trade Invoicing and Pricing
w18956 Jonathan Heathcote
Fabrizio Perri

Assessing International Efficiency
w18963 Joshua Aizenman
Yothin Jinjarak
Donghyun Park

Fundamentals and Sovereign Risk of Emerging Markets
w18837 Ron Alquist
Rahul Mukherjee
Linda Tesar

Fire-sale FDI or Business as Usual?
w18829 Ariel Burstein
Gita Gopinath

International Prices and Exchange Rates
w18807 James E. Anderson
Mykyta Vesselovsky
Yoto V. Yotov

Gravity, Scale and Exchange Rates
w18753 Mario J. Crucini
J. Scott Davis

Distribution Capital and the Short- and Long-Run Import Demand Elasticity
w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
w18699 Alberto Alesina
Johann Harnoss
Hillel Rapoport

Birthplace Diversity and Economic Prosperity
w18672 Martin Feldstein
Coordination in the European Union
w18628 Javier Bianchi
Juan Carlos Hatchondo
Leonardo Martinez

International Reserves and Rollover Risk
w18632 Rudolfs Bems
Robert C. Johnson
Kei-Mu Yi

The Great Trade Collapse
w18650 Laura Alfaro
Anusha Chari

Deregulation, Misallocation, and Size: Evidence from India
w18615 Mary Amiti
Oleg Itskhoki
Jozef Konings

Importers, Exporters, and Exchange Rate Disconnect
w18587 Javier Bianchi
Efficient Bailouts?
w18595 Daron Acemoglu
Gino Gancia
Fabrizio Zilibotti

Offshoring and Directed Technical Change
w18606 Alan M. Taylor
External Imbalances and Financial Crises
w18569 Luis Felipe Céspedes
Andrés Velasco

Macroeconomic Performance During Commodity Price Booms and Busts
w18570 Luis Felipe Céspedes
Roberto Chang
Andrés Velasco

Is Inflation Targeting Still On Target?
w18563 Alberto Cavallo
Brent Neiman
Roberto Rigobon

Currency Unions, Product Introductions, and the Real Exchange Rate
w18536 Luis Catão
Roberto Chang

Monetary Rules for Commodity Traders
w18527 Joshua Aizenman
Ilan Noy

Macroeconomic Adjustment and the History of Crises in Open Economies
w18528 Victoria Ivashina
David S. Scharfstein
Jeremy C. Stein

Dollar Funding and the Lending Behavior of Global Banks
w18532 Natalia Ramondo
Andrés Rodríguez-Clare
Milagro Saborío-Rodríguez

Trade, Domestic Frictions, and Scale Effects
w18498 Rudolfs Bems
Robert C. Johnson

Value-Added Exchange Rates
w18431 Luis Felipe Céspedes
Roberto Chang
Andrés Velasco

Financial Intermediation, Exchange Rates, and Unconventional Policy in an Open Economy
w18380 C. Bora Durdu
Enrique G. Mendoza
Marco E. Terrones

On the Solvency of Nations: Cross-Country Evidence on the Dynamics of External Adjustment
w18381 Emmanuel Farhi
Iván Werning

Fiscal Multipliers: Liquidity Traps and Currency Unions
w18366 Loukas Karabarbounis
Home Production, Labor Wedges, and International Real Business Cycles
w18372 Julien Bengui
Enrique G. Mendoza
Vincenzo Quadrini

Capital Mobility and International Sharing of Cyclical Risk
w18303 Luca Guerrieri
Matteo Iacoviello
Raoul Minetti

Banks, Sovereign Debt and the International Transmission of Business Cycles
w18285 Guillermo A. Calvo
The Price Theory of Money, Prospero's Liquidity Trap, and Sudden Stop: Back to Basics and Back
w18280 Ivan Werning
Emmanuel Farhi

Fiscal Unions
w18240 Robert C. Johnson
Trade in Intermediate Inputs and Business Cycle Comovement
w18219 Guillermo A. Calvo
Alejandro Izquierdo
Rudy Loo-Kung

Optimal Holdings of International Reserves: Self-Insurance against Sudden Stop
w18223 Stephanie Schmitt-Grohé
Martín Uribe

Pegs, Downward Wage Rigidity, and Unemployment: The Role of Financial Structure
w18191 George Alessandria
Joseph Kaboski
Virgiliu Midrigan

Trade Wedges, Inventories, and International Business Cycles
w18199 Emmanuel Farhi
Ivan Werning

Dealing with the Trilemma: Optimal Capital Controls with Fixed Exchange Rates
w18175 Carlos A. Vegh
Guillermo Vuletin

Overcoming the Fear of Free Falling: Monetary Policy Graduation in Emerging Markets
w18176 Joshua Aizenman
Yothin Jinjarak

Income inequality, tax base and sovereign spreads
w18122 Fernando Borraz
Alberto Cavallo
Roberto Rigobon
Leandro Zipitría

Distance and Political Boundaries: Estimating Border Effects under Inequality Constraints.
w18090 Chunding Li
John Whalley

China and the TPP: A Numerical Simulation Assessment of the Effects Involved
w18092 Stephanie Schmitt-Grohé
Martín Uribe

Managing Currency Pegs
w18099 Farley Grubb
Chronic Specie Scarcity and Efficient Barter: The Problem of Maintaining an Outside Money Supply in British Colonial America
w18052 Kristin Forbes
Marcel Fratzscher
Thomas Kostka
Roland Straub

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls
w18057 Tarek Alexander Hassan
Country Size, Currency Unions, and International Asset Returns
w18030 Sebnem Kalemli-Ozcan
Bent E. Sorensen

Misallocation, Property Rights, and Access to Finance: Evidence from Within and Across Africa
w18031 Stephanie Schmitt-Grohe
Martin Uribe

Prudential Policy for Peggers
w18032 Bruce A. Blonigen
Jeremy Piger
Nicholas Sly

Comovement in GDP Trends and Cycles Among Trading Partners
w18036 Javier Bianchi
Emine Boz
Enrique G. Mendoza

Macro-Prudential Policy in a Fisherian model of Financial Innovation
w18015 Carmen M. Reinhart
Vincent R. Reinhart
Kenneth S. Rogoff

Debt Overhangs: Past and Present
w17978 Mario J. Crucini
Christopher I. Telmer

Microeconomic Sources of Real Exchange Rate Variability
w17944 Pierpaolo Benigno
Federica Romei

Debt Deleveraging and The Exchange Rate
w17919 Chunding Li
John Whalley

Indirect Tax Initiatives and Global Rebalancing
w17907 Paul R. Bergin
Ju Hyun Pyun

International Portfolio Diversification and Multilateral Effects of Correlations
w17875 Yin-Wong Cheung
Menzie D. Chinn
XingWang Qian

Are Chinese Trade Flows Different?
w17872 Karen K. Lewis
Edith X. Liu

International Consumption Risk Is Shared After All: An Asset Return View
w17806 Joshua Aizenman
Hiro Ito

Trilemma Policy Convergence Patterns and Output Volatility
w17812 Mario J. Crucini
Anthony Landry

Accounting for Real Exchange Rates Using Micro-data
w17788 Yin-Wong Cheung
Michael P. Dooley
Vladyslav Sushko

Investment and Growth in Rich and Poor Countries
w17796 Michael B. Devereux
Ozge Senay
Alan Sutherland

Nominal Stability and Financial Globalization
w17749 Douglas A. Irwin
The Nixon Shock after Forty Years: The Import Surcharge Revisited
w17708 Giancarlo Corsetti
Gernot J. Müller

Multilateral Economic Cooperation and the International Transmission of Fiscal Policy
w17712 Matthieu Bussière
Giovanni Callegari
Fabio Ghironi
Giulia Sestieri
Norihiko Yamano

Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-09
w17716 Richard Baldwin
Trade And Industrialisation After Globalisation's 2nd Unbundling: How Building And Joining A Supply Chain Are Different And Why It Matters
w17681 Jing Wang
Dana Medianu
John Whalley

The Contribution of China, India and Brazil to Narrowing North-South Differences in GDP/capita, World Trade Shares, and Market Capitalization
w17682 Charles Goodhart
Global Macroeconomic and Financial Supervision: Where Next?
w17686 Eric van Wincoop
International Contagion Through Leveraged Financial Institutions
w17691 Nicolas Coeurdacier
Hélène Rey

Home Bias in Open Economy Financial Macroeconomics
w17641 Maurice Obstfeld
The International Monetary System: Living with Asymmetry
w17619 Jeffrey A. Frankel
Carlos A. Végh
Guillermo Vuletin

On Graduation from Fiscal Procyclicality
w17621 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

When Credit Bites Back: Leverage, Business Cycles, and Crises
w17603 Nuno Limao
Kamal Saggi

Size Inequality, Coordination Externalities and International Trade Agreements
w17594 Gita Gopinath
Oleg Itskhoki
Brent Neiman

Trade Prices and the Global Trade Collapse of 2008-2009
w17560 Nicolas Coeurdacier
Pierre-Olivier Gourinchas

When Bonds Matter: Home Bias in Goods and Assets
w17544 Aaron Weisbrod
John Whalley

The Contribution of Chinese FDI to Africa's Pre Crisis Growth Surge
w17549 Jiandong Ju
Kang Shi
Shang-Jin Wei

On the Connections between Intertemporal and Intra-temporal Trades
w17530 Joshua Aizenman
Brian Pinto
Vladyslav Sushko

Financial Sector Ups and Downs and the Real Sector: Up by the stairs, down by the parachute
w17513 Menzie D. Chinn
Barry Eichengreen
Hiro Ito

A Forensic Analysis of Global Imbalances
w17497 Eswar S. Prasad
Role Reversal in Global Finance
w17501 Giancarlo Corsetti
Luca Dedola
Francesca Viani

Traded and Nontraded Goods Prices, and International Risk Sharing: an Empirical Investigation.
w17502 Joshua Aizenman
Yothin Jinjarak
Donghyun Park

Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010
w17457 Mark A. Aguiar
Manuel Amador

Fiscal Policy in Debt Constrained Economies
w17420 Lee E. Ohanian
Andrea Raffo

Aggregate Hours Worked in OECD Countries: New Measurement and Implications for Business Cycles
w17427 Joshua Aizenman
Yothin Jinjarak

The Fiscal Stimulus of 2009-10: Trade Openness, Fiscal Space and Exchange Rate Adjustment
w17396 Laura Alfaro
Sebnem Kalemli-Ozcan
Vadym Volosovych

Sovereigns, Upstream Capital Flows, and Global Imbalances
w17361 Bergljot Barkbu
Barry Eichengreen
Ashoka Mody

International Financial Crises and the Multilateral Response: What the Historical Record Shows
w17362 Kathryn M.E. Dominguez
Yuko Hashimoto
Takatoshi Ito

International Reserves and the Global Financial Crisis
w17352 Philip R. Lane
Gian Maria Milesi Ferretti

External Adjustment and the Global Crisis
w17359 Andrew K. Rose
Mark M. Spiegel

Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis
w17353 Pierre-Olivier Gourinchas
Hélène Rey
Kai Truempler

The Financial Crisis and The Geography of Wealth Transfers
w17335 Julian di Giovanni
Andrei A. Levchenko

Country Size, International Trade, and Aggregate Fluctuations in Granular Economies
w17288 Michael B. Devereux
Viktoria Hnatkovska

Consumption Risk-Sharing and the Real Exchange Rate: Why does the Nominal Exchange Rate Make Such a Difference?
w17289 Michael B. Devereux
Viktoria Hnatkovska

The Extensive Margin, Sectoral Shares and International Business Cycles
w17271 Enrico Spolaore
Romain Wacziarg

Long-Term Barriers to the International Diffusion of Innovations
w17274 Laurence M. Ball
Nicolás De Roux
Marc Hofstetter

Unemployment in Latin America and the Caribbean
w17258 Joshua Aizenman
Vladyslav Sushko

Capital flows: Catalyst or Hindrance to economic takeoffs?
w17260 Martin S. Feldstein
What's Next for the Dollar?
w17224 Klaus Adam
Pei Kuang
Albert Marcet

House Price Booms and the Current Account
w17228 Joshua Aizenman
Vladyslav Sushko

Capital Flow Types, External Financing Needs, and Industrial Growth: 99 countries, 1991-2007
w17201 Fabrizio Perri
Vincenzo Quadrini

International Recessions
w17131 David Cook
Michael B. Devereux

Sharing the Burden: Monetary and Fiscal Responses to a World Liquidity Trap
w17133 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Risk, Monetary Policy and the Exchange Rate
w17074 Sebastian Edwards
Exchange Rates in Emerging Countries: Eleven Empirical Regularities from Latin America and East Asia
w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
w16958 Gita Gopinath
Brent Neiman

Trade Adjustment and Productivity in Large Crises
w16960 Ariel Burstein
Marc J. Melitz

Trade Liberalization and Firm Dynamics
w16945 Jeffrey A. Frankel
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile
w16925 Gabriel P. Mathy
Christopher M. Meissner

Trade, Exchange Rate Regimes and Output Co-Movement: Evidence from the Great Depression
w16893 Carmen M. Reinhart
M. Belen Sbrancia

The Liquidation of Government Debt
w16847 Stephanie Schmitt-Grohé
Martin Uríbe

Pegs and Pain
w16800 Shang-Jin Wei
Xiaobo Zhang

Sex Ratios, Entrepreneurship, and Economic Growth in the People's Republic of China
w16789 Marianne Baxter
International Risk Sharing in the Short Run and in the Long Run
w16805 Nicolas E. Magud
Carmen M. Reinhart
Kenneth S. Rogoff

Capital Controls: Myth and Reality - A Portfolio Balance Approach
w16806 Andrei A. Levchenko
Jing Zhang

The Evolution of Comparative Advantage: Measurement and Welfare Implications
w16813 Yaw Nyarko
The Returns to the Brain Drain and Brain Circulation in Sub-Saharan Africa: Some Computations Using Data from Ghana
w16788 Qingyuan Du
Shang-Jin Wei

A Darwinian Perspective on "Exchange Rate Undervaluation"
w16774 Ellen R. McGrattan
Transition to FDI Openness: Reconciling Theory and Evidence
w16778 Chang-Tai Hsieh
Ralph Ossa

A Global View of Productivity Growth in China
w16761 George-Marios Angeletos
Vasia Panousi

Financial Integration, Entrepreneurial Risk and Global Imbalances
w16681 Peter N. Ireland
Stochastic Growth in the United States and Euro Area
w16686 Chunding Li
John Whalley

Rebalancing and the Chinese VAT: Some Numerical Simulation Results
w16666 Jonathan Eaton
Samuel Kortum
Brent Neiman
John Romalis

Trade and the Global Recession
w16674 Martin S. Feldstein
The Role of Currency Realignments in Eliminating the US and China Current Account Imbalances
w16640 Fernando A. Broner
Jaume Ventura

Rethinking the Effects of Financial Liberalization
w16613 Fabio Ghironi
Viktors Stebunovs

The Domestic and International Effects of Interstate U.S. Banking
w16563 Luis Catão
Roberto Chang

World Food Prices and Monetary Policy
w16567 Òscar Jordà
Moritz Schularick
Alan M. Taylor

Financial Crises, Credit Booms, and External Imbalances: 140 Years of Lessons
w16587 Beatriz de Blas
Katheryn Russ

Understanding Markups in the Open Economy under Bertrand Competition
w16580 Timothy J. Kehoe
Kim J. Ruhl

Why Have Economic Reforms in Mexico Not Generated Growth?
w16539 Joshua Aizenman
Yothin Jinjarak

De facto Fiscal Space and Fiscal Stimulus: Definition and Assessment
w16478 Joshua Aizenman
Gurnain Kaur Pasricha

Fiscal fragility: what the past may say about the future
w16479 Ethan Ilzetzki
Enrique G. Mendoza
Carlos A. Végh

How Big (Small?) are Fiscal Multipliers?
w16432 Tamim Bayoumi
Hui Tong
Shang-Jin Wei

The Chinese Corporate Savings Puzzle: A Firm-level Cross-country Perspective
w16390 Zhi Wang
Shang-Jin Wei
Anna Wong

Does a Leapfrogging Growth Strategy Raise Growth Rate? Some International Evidence
w16362 Jeffrey A. Frankel
A Comparison of Monetary Anchor Options, Including Product Price Targeting, for Commodity-Exporters in Latin America
w16375 Erika Färnstrand Damsgaard
Per Krusell

The World Distribution of Productivity: Country TFP Choice in a Nelson-Phelps Economy
w16346 Agustín S. Bénétrix
Philip R. Lane

International Differences in Fiscal Policy During the Global Crisis
w16260 Joshua Aizenman
Michael M. Hutchison

Exchange Market Pressure and Absorption by International Reserves: Emerging Markets and Fear of Reserve Loss During the 2008-09 Crisis
w16334 Carmen M. Reinhart
Vincent R. Reinhart

After the Fall
w16269 Richard S. Grossman
Christopher M. Meissner

International Aspects of the Great Depression and the Crisis of 2007: Similarities, Differences, and Lessons
w16259 Paul Bergin
Ching-Yi Lin

The Dynamic Effects of Currency Union on Trade
w16264 S. Boragan Aruoba
Francis X. Diebold
M. Ayhan Kose
Marco E. Terrones

Globalization, the Business Cycle, and Macroeconomic Monitoring
w16236 David S. Jacks
Foreign Wars, Domestic Markets: England, 1793-1815
w16218 David K. Backus
Federico Gavazzoni
Christopher Telmer
Stanley E. Zin

Monetary Policy and the Uncovered Interest Parity Puzzle
w16174 Davin Chor
Kalina Manova

Off the Cliff and Back? Credit Conditions and International Trade during the Global Financial Crisis
w16154 Chadwick C. Curtis
Nelson Mark

Business Cycles, Consumption and Risk-Sharing: How Different Is China?
w16125 Jeffrey A. Frankel
Monetary Policy in Emerging Markets: A Survey
w16126 Roberto Chang
Constantino Hevia
Norman Loayza

Privatization and Nationalization Cycles
w16091 Javier Bianchi
Enrique G. Mendoza

Overborrowing, Financial Crises and 'Macro-prudential' Taxes
w16081 Mario J. Crucini
Mototsugu Shintani
Takayuki Tsuruga

Do Sticky Prices Increase Real Exchange Rate Volatility at the Sector Level?
w16043 John Fernald
Brent Neiman

Growth Accounting with Misallocation: Or, Doing Less with More in Singapore
w16059 George Alessandria
Joseph P. Kaboski
Virgiliu Midrigan

The Great Trade Collapse of 2008-09: An Inventory Adjustment?
w16065 Gita Gopinath
Oleg Itskhoki

In Search of Real Rigidities
w16029 Beatriz de Blas
Katheryn Niles Russ

All Banks Great, Small, and Global: Loan pricing and foreign competition
w16034 Sebnem Kalemli-Ozcan
Alex Nikolsko-Rzhevskyy

Does Trade Cause Capital to Flow? Evidence from Historical Rainfalls
w16000 Qingyuan Du
Shang-Jin Wei

A Sexually Unbalanced Model of Current Account Imbalances
w16005 Julian di Giovanni
Andrei A. Levchenko

The Risk Content of Exports: A Portfolio View of International Trade
w16006 Andrei A. Levchenko
Logan T. Lewis
Linda L. Tesar

The Collapse of International Trade During the 2008-2009 Crisis: In Search of the Smoking Gun
w16020 Emine Boz
Enrique G. Mendoza

Financial Innovation, the Discovery of Risk, and the U.S. Credit Crisis
w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis
w15958 Daron Acemoglu
Gino Gancia
Fabrizio Zilibotti

Competing Engines of Growth: Innovation and Standardization
w15938 Roberto Chang
Andrés Fernández

On the Sources of Aggregate Fluctuations in Emerging Economies
w15902 Robert J. Barro
Jong-Wha Lee

A New Data Set of Educational Attainment in the World, 1950-2010
w15907 Anton Korinek
Agustín Roitman
Carlos A. Végh

Decoupling and Recoupling
w15888 Etsuro Shioji
Taisuke Uchino

Pass-Through of Oil Prices to Japanese Domestic Prices
w15876 Joshua Aizenman
Menzie D. Chinn
Hiro Ito

Surfing the Waves of Globalization: Asia and Financial Globalization in the Context of the Trilemma
w15868 Yanping Chong
Òscar Jordà
Alan M. Taylor

The Harrod-Balassa-Samuelson Hypothesis: Real Exchange Rates and their Long-Run Equilibrium
w15842 Pierpaolo Benigno
Ester Faia

Globalization, Pass-Through and Inflation Dynamic
w15743 Jan J. J. Groen
Paolo A. Pesenti

Commodity prices, commodity currencies, and global economic developments
w15780 Graciela L. Kaminsky
Terms of Trade Shocks and Fiscal Cycles
w15749 Robert C. Feenstra
David E. Weinstein

Globalization, Markups and U.S. Welfare
w15753 Martin Berka
Michael B. Devereux

What Determines European Real Exchange Rates?
w15721 Robert W. Fogel
Further Comments on The Impact of the Asian Miracle on the Theory of Economic Growth
w15639 Carmen M. Reinhart
Kenneth S. Rogoff

Growth in a Time of Debt
w15642 Jean Boivin
Robert Clark
Nicolas Vincent

Virtual Borders: Online Nominal Rigidities and International Market Segmentation
w15624 Paul R. Bergin
Reuven Glick
Jyh-Lin Wu

The Micro-Macro Disconnect of Purchasing Power Parity
w15620 Jeffrey A. Frankel
Daniel Xie

Estimation of De Facto Flexibility Parameter and Basket Weights in Evolving Exchange Rate Regimes
w15604 Natalia Ramondo
Andrés Rodríguez-Clare

Trade, Multinational Production, and the Gains from Openness
w15592 Robert C. Feenstra
Benjamin R. Mandel
Marshall B. Reinsdorf
Matthew J. Slaughter

Effects of Terms of Trade Gains and Tariff Changes on the Measurement of U.S. Productivity Growth
w15556 Mary Amiti
David E. Weinstein

Exports and Financial Shocks
w15557 James Feyrer
Distance, Trade, and Income - The 1967 to 1975 Closing of the Suez Canal as a Natural Experiment
w15562 Joshua Aizenman
Nancy Marion

Using Inflation to Erode the U.S. Public Debt
w15528 Katheryn N. Russ
Diego Valderrama

Financial Choice in a Non-Ricardian Model of Trade
w15534 Michael D. Bordo
Christopher M. Meissner
David Stuckler

Foreign Currency Debt, Financial Crises and Economic Growth: A Long Run View
w15519 Domenico Giannone
Michele Lenza

The Feldstein-Horioka fact
w15470 Linda S. Goldberg
Cédric Tille

Micro, Macro, and Strategic Forces in International Trade Invoicing
w15448 Laura Alfaro
Anusha Chari

India Transformed? Insights from the Firm Level 1988-2005
w15452 Eduardo Borensztein
Olivier Jeanne
Damiano Sandri

Macro-Hedging for Commodity Exporters
w15454 Katheryn N. Russ
Diego Valderrama

A Theory of Banks, Bonds, and the Distribution of Firm Size
w15418 Jean Imbs
Haroon Mumtaz
Morten O. Ravn
Hélène Rey

One TV, One Price?
w15425 Guillermo A. Calvo
w15428 Diego A. Comin
Norman Loayza
Farooq Pasha
Luis Serven

Medium Term Business Cycles in Developing Countries
w15432 Enrique G. Mendoza
Vincenzo Quadrini

Financial Globalization, Financial Crises and Contagion
w15308 Joshua Aizenman
Yi Sun

The financial crisis and sizable international reserves depletion: From 'fear of floating' to the 'fear of losing international reserves'?
w15393 Lee Branstetter
Kamal Saggi

Intellectual Property Rights, Foreign Direct Investment, and Industrial Development
w15401 Kris James Mitchener
Marc D. Weidenmier

Are Hard Pegs Ever Credible in Emerging Markets? Evidence from the Classical Gold Standard
w15359 Emi Nakamura
Jón Steinsson

Lost in Transit: Product Replacement Bias and Pricing to Market
w15362 Amir E. Khandani
Andrew W. Lo
Robert C. Merton

Systemic Risk and the Refinancing Ratchet Effect
w15268 Francisco J. Buera
Yongseok Shin

Productivity Growth and Capital Flows: The Dynamics of Reforms
w15274 Joshua Aizenman
Nan Geng

Adjustment of State Owned and Foreign-Funded Enterprises in China to Economic Reforms,1980s-2007: a logistic smooth transition regression (LSTR) approach
w15225 Craig Burnside
Alexandra Tabova

Risk, Volatility, and the Global Cross-Section of Growth Rates
w15244 Horag Choi
Nelson C. Mark

Trending Current Accounts
w15250 David S. Jacks
On the Death of Distance and Borders: Evidence from the Nineteenth Century
w15204 Anusha Chari
Peter Blair Henry
Diego Sasson

Capital Market Integration and Wages
w15194 Mark Aguiar
Manuel Amador

Growth in the Shadow of Expropriation
w15173 Laurence M. Ball
Policy Responses to Exchange-Rate Movements
w15187 Yuriy Gorodnichenko
Serena Ng

Estimation of DSGE Models When the Data are Persistent
w15169 Eswar S. Prasad
Rebalancing Growth in Asia
w15123 Espen Henriksen
Finn E. Kydland
Roman Sustek

Globally Correlated Nominal Fluctuations
w15141 Galina Hale
Assaf Razin
Hui Tong

The Impact of Credit Protection on Stock Prices in the Presence of Credit Crunches
w15142 Barry Eichengreen
Douglas A. Irwin

The Slide to Protectionism in the Great Depression: Who Succumbed and Why?
w15154 David L. Hummels
Georg Schaur

Hedging Price Volatility Using Fast Transport
w15113 James Feyrer
Jay C. Shambaugh

Global Savings and Global Investment: The Transmission of Identified Fiscal Shocks
w15120 Michael P. Dooley
Michael M. Hutchison

Transmission of the U.S. Subprime Crisis to Emerging Markets: Evidence on the Decoupling-Recoupling Hypothesis
w15043 Michael Hoel
Aart de Zeeuw

Can a Focus on Breakthrough Technologies Improve the Performance of International Environmental Agreements?
w15008 Philippe Bacchetta
Eric van Wincoop

On the Unstable Relationship between Exchange Rates and Macroeconomic Fundamentals
w15018 Joshua Aizenman
Financial Crisis and the Paradox of Under- and Over-Regulation
w15020 Yuko Hashimoto
Takatoshi Ito

Effects of Japanese Macroeconomic Announcements on the Dollar/Yen Exchange Rate: High-Resolution Picture
w14992 Pravin Krishna
Mine Zeynep Senses

International Trade and Labor Income Risk in the United States
w14965 Pravin Krishna
Andrei A. Levchenko

Comparative Advantage, Complexity and Volatility
w14938 Gita Gopinath
Pierre-Olivier Gourinchas
Chang-Tai Hsieh
Nicholas Li

Estimating the Border Effect: Some New Evidence
w14935 Marcela Eslava
John C. Haltiwanger
Adriana D. Kugler
Maurice Kugler

Trade Reforms and Market Selection: Evidence from Manufacturing Plants in Colombia
w14910 James Feyrer
Trade and Income -- Exploiting Time Series in Geography
w14916 M. Ayhan Kose
Eswar S. Prasad
Ashley D. Taylor

Thresholds in the Process of International Financial Integration
w14874 Yuriy Gorodnichenko
Enrique G. Mendoza
Linda L. Tesar

The Finnish Great Depression: From Russia with Love
w14875 Jesús Fernández-Villaverde
Pablo A. Guerrón-Quintana
Juan Rubio-Ramírez
Martín Uribe

Risk Matters: The Real Effects of Volatility Shocks
w14829 Charles Engel
Currency Misalignments and Optimal Monetary Policy: A Reexamination
w14835 Mario J. Crucini
Mototsugu Shintani
Takayuki Tsuruga

The Law of One Price Without the Border: The Role of Distance Versus Sticky Prices
w14843 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Financial Openness and Productivity
w14816 Maurice Obstfeld
Time of Troubles: The Yen and Japan's Economy, 1985-2008
w14826 Maurice Obstfeld
Jay C. Shambaugh
Alan M. Taylor

Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008
w14794 Michael B. Devereux
Alan Sutherland

Valuation Effects and the Dynamics of Net External Assets
w14795 Michael B. Devereux
Gregor W. Smith
James Yetman

Consumption and Real Exchange Rates in Professional Forecasts
w14802 Geert Bekaert
Campbell R. Harvey
Christian Lundblad
Stephan Siegel

What Segments Equity Markets?
w14691 Maurice Obstfeld
International Finance and Growth in Developing Countries: What Have We Learned?
w14696 Martin S. Feldstein
Reflections on Americans' Views of the Euro Ex Ante
w14694 Sambit Bhattacharyya
Jeffrey G. Williamson

Commodity Price Shocks and the Australian Economy since Federation
w14658 Eswar S. Prasad
Some New Perspectives on India's Approach to Capital Account Liberalization
w14662 Andrew B. Bernard
J. Bradford Jensen
Stephen J. Redding
Peter K. Schott

The Margins of U.S. Trade (Long Version)
w14636 Indrit Hoxha
Sebnem Kalemli-Ozcan
Dietrich Vollrath

How Big are the Gains from International Financial Integration?
w14547 Alejandro Justiniano
Bruce Preston

Can Structural Small Open Economy Models Account for the Influence of Foreign Disturbances?
w14558 M. Ayhan Kose
Eswar S. Prasad
Marco E. Terrones

Does Openness to International Financial Flows Raise Productivity Growth?
w14519 Ulf Söderström
Re-Evaluating Swedish Membership in EMU: Evidence from an Estimated Model
w14529 Domenico Giannone
Michele Lenza
Lucrezia Reichlin

Business Cycles in the Euro Area
w14533 Joshua Aizenman
Menzie D. Chinn
Hiro Ito

Assessing the Emerging Global Financial Architecture: Measuring the Trilemma's Configurations over Time
w14542 Jeffrey A. Frankel
The Estimated Effects of the Euro on Trade: Why Are They Below Historical Effects of Monetary Unions Among Smaller Countries?
w14510 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Monetary Policy Trade-Offs in an Estimated Open-Economy DSGE Model
w14493 Sibylle H. Lehmann
Kevin H. O'Rourke

The Structure of Protection and Growth in the Late 19th Century
w14437 Caroline M. Betts
Timothy J. Kehoe

Real Exchange Rate Movements and the Relative Price of Non-traded Goods
w14444 Enrique G. Mendoza
Sudden Stops, Financial Crises and Leverage: A Fisherian Deflation of Tobin's Q
w14395 Timothy J. Kehoe
Kim J. Ruhl

Sudden Stops, Sectoral Reallocations, and the Real Exchange Rate
w14372 Michael B. Devereux
Alan Sutherland

Country Portfolios in Open Economy Macro Models
w14292 M. Ayhan Kose
Christopher Otrok
Eswar S. Prasad

Global Business Cycles: Convergence or Decoupling?
w14379 Alon Binyamini
Assaf Razin

Inflation-Output Tradeoff as Equilibrium Outcome of Globalization
w14380 Mario J. Crucini
M. Ayhan Kose
Christopher Otrok

What Are the Driving Forces of International Business Cycles?
w14384 Sebastian Edwards
Sequencing of Reforms, Financial Globalization, and Macroeconomic Vulnerability
w14390 Cédric Tille
Eric van Wincoop

International Capital Flows under Dispersed Information: Theory and Evidence
w14264 Antoni Estevadeordal
Alan M. Taylor

Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s
w14242 Matthew Canzoneri
Robert E. Cumby
Behzad Diba
David Lopez-Salido

The Macroeconomic Implications of a Key Currency
w14217 Maurice Obstfeld
Jay C. Shambaugh
Alan M. Taylor

Financial Stability, the Trilemma, and International Reserves
w14200 Gita Gopinath
Oleg Itskhoki

Frequency of Price Adjustment and Pass-through
w14175 Menzie D. Chinn
Michael J. Moore

Private Information and a Macro Model of Exchange Rates: Evidence from a Novel Data Set
w14190 Jean Boivin
Marc P. Giannoni
Benoît Mojon

How Has the Euro Changed the Monetary Transmission?
w14191 Ethan Ilzetzki
Carlos A. Vegh

Procyclical Fiscal Policy in Developing Countries: Truth or Fiction?
w14168 Yin-Wong Cheung
Menzie D. Chinn
Eiji Fujii

Pitfalls in Measuring Exchange Rate Misalignment: The Yuan and Other Currencies
w14139 David S. Jacks
Krishna Pendakur

Global Trade and the Maritime Transport Revolution
w14126 Paul R. Bergin
Ching-Yi Lin

Exchange Rate Regimes and the Extensive Margin of Trade
w14071 Kenneth S. Rogoff
Vania Stavrakeva

The Continuing Puzzle of Short Horizon Exchange Rate Forecasting
w14092 Malin Adolfson
Stefan Laséen
Jesper Lindé
Lars E.O. Svensson

Optimal Monetary Policy in an Operational Medium-Sized DSGE Model
w14077 Gregory Clark
Kevin H. O'Rourke
Alan M. Taylor

Made in America? The New World, the Old, and the Industrial Revolution
w14051 Eswar S. Prasad
Raghuram Rajan

A Pragmatic Approach to Capital Account Liberalization
w14016 Jeffrey A. Frankel
Shang-Jin Wei

Estimation of De Facto Exchange Rate Regimes: Synthesis of the Techniques for Inferring Flexibility and Basket Weights
w14026 Guillermo A. Calvo
Alejandro Izquierdo
Luis-Fernando Mejía

Systemic Sudden Stops: The Relevance Of Balance-Sheet Effects And Financial Integration
w13889 Frederic S. Mishkin
Exchange Rate Pass-Through And Monetary Policy
w13965 Emi Nakamura
Pass-Through in Retail and Wholesale
w13948 Frederic S. Mishkin
Globalization, Macroeconomic Performance, and Monetary Policy
w13908 Kristin J. Forbes
Why do Foreigners Invest in the United States?
w13910 Jón Steinsson
The Dynamic Behavior of the Real Exchange Rate in Sticky Price Models
w13925 Viktoria Hnatkovska
Amartya Lahiri
Carlos A. Vegh

Interest Rates and the Exchange Rate: A Non-Monotonic Tale
w13901 Yu-Chin Chen
Kenneth Rogoff
Barbara Rossi

Can Exchange Rates Forecast Commodity Prices?
w13876 Christopher D. Carroll
Jiri Slacalek
Martin Sommer

International Evidence on Sticky Consumption Growth
w13880 Peter Blair Henry
Diego Sasson

Capital Account Liberalization, Real Wages, and Productivity
w13853 Joshua Aizenman
Jaewoo Lee

The Real Exchange Rate, Mercantilism and the Learning by Doing Externality
w13846 Robert Dekle
Jonathan Eaton
Samuel Kortum

Global Rebalancing with Gravity: Measuring the Burden of Adjustment
w13814 Charles Engel
Jian Wang

International Trade in Durable Goods: Understanding Volatility, Cyclicality, and Elasticities
w13820 Linda S. Goldberg
Cédric Tille

Macroeconomic Interdependence and the International Role of the Dollar
w13792 Selim Elekdag
Rene Lalonde
Douglas Laxton
Dirk Muir
Paolo Pesenti

Oil Price Movements and the Global Economy: A Model-Based Assessment
w13795 Giancarlo Corsetti
Philippe Martin
Paolo Pesenti

Varieties and the Transfer Problem: The Extensive Margin of Current Account Adjustment
w13807 Juan Carlos Hallak
Peter K. Schott

Estimating Cross-Country Differences in Product Quality
w13734 Joshua Aizenman
Yi Sun

Globalization and the Sustainability of Large Current Account Imbalances: Size Matters
w13736 Jean Boivin
Marc Giannoni

Global Forces and Monetary Policy Effectiveness
w13731 Ariel Burstein
Christopher Kurz
Linda Tesar

Trade, Production Sharing, and the International Transmission of Business Cycles
w13662 Andres Rodriguez-Clare
Trade, Diffusion and the Gains from Openness
w13619 Eswar S. Prasad
Raghuram G. Rajan
Arvind Subramanian

Foreign Capital and Economic Growth
w13620 Paul R. Bergin
Robert C. Feenstra

Pass-through of Exchange Rates and Competition Between Floaters and Fixers
w13613 Christopher J. Erceg
Christopher Gust
David López-Salido

The Transmission of Domestic Shocks in the Open Economy
w13591 Juan Carlos Conesa
Timothy J. Kehoe
Kim J. Ruhl

Modeling Great Depressions: The Depression in Finland in the 1990s
w13602 Pierre-Olivier Gourinchas
Olivier Jeanne

Capital Flows to Developing Countries: The Allocation Puzzle
w13659 Katheryn Niles Russ
Exchange Rate Volatility and First-Time Entry by Multinational Firms
w13577 Michael D. Bordo
Christopher M. Meissner

Foreign Capital and Economic Growth in the First Era of Globalization
w13571 Horag Choi
Nelson C. Mark
Donggyu Sul

Endogenous Discounting, the World Saving Glut and the U.S. Current Account
w13586 Li Wang
John Whalley

The Impacts of Renminbi Appreciation on Trades Flows and Reserve Accumulation in a Monetary Trade Model
w13544 Giancarlo Corsetti
Luca Dedola
Sylvain Leduc

Optimal Monetary Policy and the Sources of Local-Currency Price Stability
w13517 Benjamin Malin
Dirk Krueger
Felix Kubler

Computing Stochastic Dynamic Economic Models with a Large Number of State Variables: A Description and Application of a Smolyak-Collocation Method
w13515 Ellen McGrattan
Edward C. Prescott

Openness, Technology Capital, and Development
w13483 Jonathan Heathcote
Fabrizio Perri

The International Diversification Puzzle Is Not As Bad As You Think
t0345 Benjamin Malin
Dirk Krueger
Felix Kubler

Computing Stochastic Dynamic Economic Models with a Large Number of State Variables: A Description and Application of a Smolyak-Collocation Method
w13463 Stephen Cameron
Shubham Chaudhuri
John McLaren

Trade Shocks and Labor Adjustment: Theory
w13467 Julian di Giovanni
Jay C. Shambaugh

The Impact of Foreign Interest Rates on the Economy: The Role of the Exchange Rate Regime
w13440 Mehmet Fatih Ekinci
Sebnem Kalemli-Ozcan
Bent Sorensen

Financial Integration within EU Countries: The Role of Institutions, Confidence and Trust
w13424 Nicolas Coeurdacier
Robert Kollmann
Philippe Martin

International Portfolios with Supply, Demand and Redistributive Shocks
w13432 Gita Gopinath
Oleg Itskhoki
Roberto Rigobon

Currency Choice and Exchange Rate Pass-through
w13412 Enrique G. Mendoza
Vincenzo Quadrini
José-Victor Ríos-Rull

On the Welfare Implications of Financial Globalization without Financial Development
w13403 Kris James Mitchener
Marc D. Weidenmier

The Baring Crisis and the Great Latin American Meltdown of the 1890s
w13388 Jiandong Ju
Shang-Jin Wei

Current Account Adjustment: Some New Theory and Evidence
w13364 Hiro Ito
Menzie Chinn

East Asia and Global Imbalances: Saving, Investment, and Financial Development
w13366 Stijn Van Nieuwerburgh
Laura Veldkamp

Information Immobility and the Home Bias Puzzle
w13313 Barry Bosworth
Susan M. Collins
Gabriel Chodorow-Reich

Returns on FDI: Does the U.S. Really Do Better?
w13318 Charles Engel
Nelson C. Mark
Kenneth D. West

Exchange Rate Models Are Not as Bad as You Think
w13329 Michael Woodford
Globalization and Monetary Control
w13328 Morten O. Ravn
Stephanie Schmitt-Grohé
Martín Uribe

Explaining the Effects of Government Spending Shocks on Consumption and the Real Exchange Rate
w13277 Joshua Aizenman
Large Hoarding of International Reserves and the Emerging Global Economic Architecture
w13280 Assaf Razin
Alon Binyamini

Flattened Inflation-Output Tradeoff and Enhanced Anti-Inflation Policy: Outcome of Globalization?
w13241 Pol Antràs
Ricardo J. Caballero

Trade and Capital Flows: A Financial Frictions Perspective
w13244 Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Joseph E. Stiglitz

Net Worth, Exchange Rates, and Monetary Policy: The Effects of a Devaluation in a Financially Fragile Environment
w13216 Laura Alfaro
Fabio Kanczuk

Optimal Reserve Management and Sovereign Debt
w13197 Michael P. Dooley
Peter M. Garber
David Folkerts-Landau

The Two Crises of International Economics
w13205 Philippe Bacchetta
Eric van Wincoop

Random Walk Expectations and the Forward Discount Puzzle
w13173 Pierpaolo Benigno
Portfolio Choices with Near Rational Agents: A Solution of Some International-Finance Puzzles
w13177 Guillermo A. Calvo
Interest Rate Rules, Inflation Stabilization, and Imperfect Credibility: The Small Open Economy Case
w13184 Robert W. Fogel
Capitalism and Democracy in 2040: Forecasts and Speculations
w13170 James E. Rauch
Development Through Synergistic Reform
w13144 Paul R. Bergin
Robert C. Feenstra
Gordon H. Hanson

Outsourcing and Volatility
w13154 Amartya Lahiri
Rajesh Singh
Carlos A. Vegh

Segmented Asset Markets and Optimal Exchange Rate Regimes
w13123 Ceyhun Bora Durdu
Enrique G. Mendoza
Marco E. Terrones

Precautionary Demand for Foreign Assets in Sudden Stop Economies: An Assessment of the New Merchantilism
w13111 Timothy J. Kehoe
Kim J. Ruhl

Are Shocks to the Terms of Trade Shocks to Productivity?
w13073 Ariel Burstein
Alexander Monge-Naranjo

Foreign Know-How, Firm Control, and the Income of Developing Countries
w13077 Ricardo J. Caballero
Guido Lorenzoni

Persistent Appreciations and Overshooting: A Normative Analysis
w13048 John Romalis
Market Access, Openness and Growth
w13035 Robert Dekle
Jonathan Eaton
Samuel Kortum

Unbalanced Trade
w12947 Enrique G. Mendoza
Jonathan D. Ostry

International Evidence on Fiscal Solvency: Is Fiscal Policy "Responsible"?
w12937 Fabio Ghironi
Jaewoo Lee
Alessandro Rebucci

The Valuation Channel of External Adjustment
w12943 Barry Bosworth
Susan M. Collins

Accounting for Growth: Comparing China and India
w12916 Craig Burnside
Martin Eichenbaum
Sergio Rebelo

The Returns to Currency Speculation in Emerging Markets
w12925 Olivier Blanchard
Current Account Deficits in Rich Countries
w12901 Barry Bosworth
Susan M. Collins
Arvind Virmani

Sources of Growth in the Indian Economy
w12909 Enrique G. Mendoza
Vincenzo Quadrini
Jose-Victor Rios-Rull

Financial Integration, Financial Deepness and Global Imbalances
w12850 Yin-Wong Cheung
Menzie D. Chinn
Eiji Fujii

The Overvaluation of Renminbi Undervaluation
w12856 Eric Van Wincoop
Cedric Tille

International Capital Flows
w12861 Andrew Atkeson
Ariel Burstein

Pricing-to-Market in a Ricardian Model of International Trade
w12750 Joshua Aizenman
Kenneth Kletzer
Brian Pinto

Economic Growth with Constraints on Tax Revenues and Public Debt: Implications for Fiscal Policy and Cross-Country Differences
w12806 Romain Ranciere
Aaron Tornell
Frank Westermann

Decomposing the Effects of Financial Liberalization: Crises vs. Growth
w12753 Ricardo J. Caballero
On the Macroeconomics of Asset Shortages
w12734 Joshua Aizenman
International Reserves Management and the Current Account
w12718 Joshua Aizenman
Jaewoo Lee

Financial Versus Monetary Mercantilism-Long-run View of Large International Reserves Hoarding
w12728 Eric van Wincoop
Francis E. Warnock

Is Home Bias in Assets Related to Home Bias in Goods?
w12729 Michael W. Klein
Jay C. Shambaugh

The Nature of Exchange Rate Regimes
w12731 Morten Ravn
Stephanie Schmitt-Grohe
Martin Uribe

Pricing to Habits and the Law of One Price
w12703 Douglas Laxton
Papa N'Diaye
Paolo Pesenti

Deflationary Shocks and Monetary Rules: an Open-Economy Scenario Analysis
w12704 Hamid Faruqee
Douglas Laxton
Dirk Muir
Paolo Pesenti

Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis
w12708 Alessandra Fogli
Fabrizio Perri

The "Great Moderation" and the US External Imbalance
w12697 Karen K. Lewis
Is the International Diversification Potential Diminishing? Foreign Equity Inside and Outside the US
w12698 Peter Blair Henry
Capital Account Liberalization: Theory, Evidence, and Speculation
w12699 Maurice Obstfeld
Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate
w12673 Richard E. Baldwin
Virginia Di Nino

Euros and Zeros: The Common Currency Effect on Trade in New Goods
w12684 Amartya Lahiri
Rajesh Singh
Carlos A. Vegh

Optimal exchange rate regimes: Turning Mundell-Fleming's dictum on its head
w12652 Eliot A. Jamison
Dean T. Jamison
Eric A. Hanushek

The Effects of Education Quality on Income Growth and Mortality Decline
w12629 Javier García-Cicco
Roberto Pancrazi
Martín Uribe

Real Business Cycles in Emerging Countries?
w12580 Christopher M. Meissner
Alan M. Taylor

Losing our Marbles in the New Century? The Great Rebalancing in Historical Perspective
w12564 Enrique G. Mendoza
Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints:A Fisherian Deflation of Tobin's Q
w12566 Claustre Bajona
Timothy J. Kehoe

Demographics in Dynamic Heckscher-Ohlin Models: Overlapping Generations Versus Infinitely Lived Consumers
w12567 Claustre Bajona
Timothy J. Kehoe

Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model
w12547 Jose Manuel Campa
Linda S. Goldberg

Pass Through of Exchange Rates to Consumption Prices: What has Changed and Why?
w12551 Jianhuai Shi
Are Currency Appreciations Contractionary in China?
w12543 Alan M. Taylor
Janine L. F. Wilson

International Trade and Finance under the Two Hegemons: Complementaries in the United Kingdom 1870-1913 and the United States 1920-30
w12522 Laura Alfaro
Areendam Chanda
Sebnem Kalemli-Ozcan
Selin Sayek

How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages
w12516 Richard Baldwin
Daria Taglioni

Gravity for Dummies and Dummies for Gravity Equations
w12512 Christian Broda
Joshua Greenfield
David Weinstein

From Groundnuts to Globalization: A Structural Estimate of Trade and Growth
w12495 Linda S. Goldberg
Cédric Tille

The International Role of the Dollar and Trade Balance Adjustment
w12481 Menzie D. Chinn
Ron Alquist

Conventional and Unconventional Approaches to Exchange Rate Modeling and Assessment
w12483 Giancarlo Corsetti
Luca Dedola
Sylvain Leduc

Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism Among G7 Countries
w12484 M. Ayhan Kose
Eswar Prasad
Kenneth S. Rogoff
Shang-Jin Wei

Financial Globalization: A Reappraisal
w12448 Roberto Chang
Electoral Uncertainty and the Volatility of International Capital Flows
w12395 Takatoshi Ito
Kiyotaka Sato

Exchange Rate Changes and Inflation in Post-Crisis Asian Economies: VAR Analysis of the Exchange Rate Pass-Through
w12373 Lee Branstetter
Nicholas Lardy

China's Embrace of Globalization
w12328 Alberto Alesina
William Easterly
Janina Matuszeski

Artificial States
w12271 Robert E. Lipsey
Measuring International Trade in Services
w12260 Martín Uribe
Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome
w12249 John Whalley
Xian Xin

China's FDI and Non-FDI Economies and the Sustainability of Future High Chinese Growth
w12213 Michael B. Devereux
Charles Engel

Expectations and Exchange Rate Policy
w12214 Charles Engel
Akito Matsumoto

Portfolio Choice in a Monetary Open-Economy DSGE Model
w12215 Michael B. Devereux
Charles Engel

Expenditure Switching vs. Real Exchange Rate Stabilization: Competing Objectives for Exchange Rate Policy
w12219 Pierpaolo Benigno
Are Valuation Effects Desirable from a Global Perspective?
w12229 Sebastian Edwards
Monetary Unions, External Shocks and Economic Performance: A Latin American Perspective
w12198 Eiji Ogawa
Junko Shimizu

Stabilization of Effective Exchange Rates Under Common Currency Basket Systems
w12193 Richard H. Clarida
Manuela Goretti
Mark P. Taylor

Are There Thresholds of Current Account Adjustment in the G7?
w12194 Richard H. Clarida
G7 Current Account Imbalances: Sustainability and Adjustment
w12168 Martin Feldstein
The 2006 Economic Report of the President: Comment on Chapter One (The Year in Review) and Chapter Six (The Capital Account Surplus)
w12173 Peter K. Schott
The Relative Sophistication of Chinese Exports
w12154 Sebastian Edwards
The U.S. Current Account Deficit: Gradual Correction or Abrupt Adjustment?
w12163 Sebastian Edwards
The Relationship Between Exchange Rates and Inflation Targeting Revisited
w12121 Linda S. Goldberg
José Manuel Campa

Distribution Margins, Imported Inputs, and the Sensitivity of the CPI to Exchange Rates
w12101 Guillermo A. Calvo
Alejandro Izquierdo
Ernesto Talvi

Phoenix Miracles in Emerging Markets: Recovering without Credit from Systemic Financial Crises
w12038 Marcos Chamon
Michael Kremer

Economic Transformation, Population Growth and the Long-Run World Income Distribution
w11996 Ricardo J. Caballero
Emmanuel Farhi
Pierre-Olivier Gourinchas

An Equilibrium Model of "Global Imbalances" and Low Interest Rates
w11966 Enrique G. Mendoza
Lessons From the Debt-Deflation Theory of Sudden Stops
w11921 Charles Engel
John H. Rogers

The U.S. Current Account Deficit and the Expected Share of World Output
w11913 Martin Uribe
On Overborrowing
w11901 Laura Alfaro
Sebnem Kalemli-Ozcan
Vadym Volosovych

Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation
w11853 Menzie D. Chinn
Jaewoo Lee

Three Current Account Balances: A "Semi-Structuralist" Interpretation
w11815 Jordi Gali
Tommaso Monacelli

Optimal Monetary and Fiscal Policy in a Currency Union
w11823 Caroline Freund
Frank Warnock

Current Account Deficits in Industrial Countries: The Bigger They are, the Harder They Fall?
w11787 Roberto Chang
Linda Kaltani
Norman Loayza

Openness Can be Good for Growth: The Role of Policy Complementarities
w11791 Amartya Lahiri
Carlos A. Vegh

Output Costs, Currency Crises, and Interest Rate Defense of a Peg
w11795 Natalia Chernyshoff
David S. Jacks
Alan M. Taylor

Stuck on Gold: Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard
w11761 Menzie D. Chinn
Hiro Ito

Current Account Balances, Financial Development and Institutions: Assaying the World "Savings Glut"
w11748 Martin D. D. Evans
Richard K. Lyons

Understanding Order Flow
w11719 Menzie D. Chinn
Supply Capacity, Vertical Specialization and Tariff Rates: The Implications for Aggregate U.S. Trade Flow Equations
w11706 Yuriy Gorodnichenko
Linda Tesar

A Re-Examination of the Border Effect
w11713 William H. Branson
Conor N. Healy

Monetary and Exchange Rate Policy Coordination in ASEAN 1
w11696 Laura Alfaro
Sebnem Kalemli-Ozcan
Vadym Volosovych

Capital Flows in a Globalized World: The Role of Policies and Institutions
w11691 Enrique G. Mendoza
Real Exchange Rate Volatility and the Price of Nontradables in Sudden-Stop-Prone Economies
w11652 Joshua Aizenman
Reuven Glick

Pegged Exchange Rate Regimes -- A Trap?
w11653 Linda Goldberg
Trade Invoicing in the Accession Countries: Are They Suited to the Euro?
w11655 Russell Cooper
Hubert Kempf
Dan Peled

Is It Is or Is It Ain't My Obligation? Regional Debt in a Fiscal Federation
w11669 Sebastian Edwards
The End of Large Current Account Deficits, 1970-2002: Are There Lessons for the United States?
w11632 José Manuel Campa
Linda S. Goldberg
José M. González-Mínguez

Exchange-Rate Pass-Through to Import Prices in the Euro Area
w11637 Paul R. Bergin
Reuven Glick

Tradability, Productivity, and Understanding International Economic Integration
w11640 Ilan Goldfajn
André Minella

Capital Flows and Controls in Brazil: What Have We Learned?
w11618 Ricardo J. Caballero
Arvind Krishnamurthy

Bubbles and Capital Flow Volatility: Causes and Risk Management
w11583 Hamid Faruqee
Douglas Laxton
Dirk Muir
Paolo Pesenti

Smooth Landing or Crash? Model-Based Scenarios of Global Current Account Rebalancing
w11580 Zsolt Darvas
Andrew K. Rose
György Szapáry

Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic
w11550 Philippe Martin
Hélène Rey

Globalization and Emerging Markets: With or Without Crash?
w11541 Sebastian Edwards
Is the U.S. Current Account Deficit Sustainable? And If Not, How Costly is Adjustment Likely To Be?
w11521 Menzie D. Chinn
A Primer on Real Effective Exchange Rates: Determinants, Overvaluation, Trade Flows and Competitive Devaluation
w11524 Laura Bottazzi
Giovanni Peri

The International Dynamics of R&D and Innovation in the Short and in the Long Run
w11492 Guillermo A. Calvo
Alejandro Izquierdo
Rudy Loo-Kung

Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects
w11490 Mark Aguiar
Manuel Amador
Gita Gopinath

Efficient Fiscal Policy and Amplification
w11473 Filippo Altissimo
Pierpaolo Benigno
Diego Rodriguez Palenzuela

Long-Run Determinants of Inflation Differentials in a Monetary Union
w11369 Basant K. Kapur
Capital Flows and Exchange Rate Volatility: Singapore's Experience
w11370 Menzie D. Chinn
Hiro Ito

What Matters for Financial Development? Capital Controls, Institutions, and Interactions
w11353 Kathryn M.E. Dominguez
Linda L. Tesar

International Borrowing and Macroeconomic Performance in Argentina
w11366 Joshua Aizenman
Jaewoo Lee

International Reserves: Precautionary versus Mercantilist Views, Theory and Evidence
w11341 Giancarlo Corsetti
Paolo Pesenti

The Simple Geometry of Transmission and Stabilization in Closed and Open Economies
w11312 Torben G. Andersen
Tim Bollerslev
Francis X. Diebold
Clara Vega

Real-Time Price Discovery in Stock, Bond and Foreign Exchange Markets
w11293 Ricardo Caballero
Stavros Panageas

A Quantitative Model of Sudden Stops and External Liquidity Management
w11296 Jaume Ventura
A Global View of Economic Growth
w11301 Sebnem Kalemli-Ozcan
Ariell Reshef
Bent Sorensen
Oved Yosha

Why Does Capital Flow to Rich States?
w11305 Guillermo A. Calvo
Crises in Emerging Market Economies: A Global Perspective
w11306 Eswar Prasad
Shang-Jin Wei

The Chinese Approach to Capital Inflows: Patterns and Possible Explanations
w11272 Justin M. Dubas
Byung-Joo Lee
Nelson C. Mark

Effective Exchange Rate Classifications and Growth
w11249 Martin Feldstein
The Euro and the Stability Pact
w11220 Richard K. Lyons
Michael J. Moore

An Information Approach to International Currencies
w11209 Charles Engel
Equivalence Results for Optimal Pass-Through, Optimal Indexing to Exchange Rates, and Optimal Choice of Currency for Export Pricing
w11178 Ceyhun Bora Durdu
Enrique G. Mendoza

Are Asset Price Guarantees Useful for Preventing Sudden Stops?: A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff
w11199 Jeffrey A. Frankel
David C. Parsley
Shang-Jin Wei

Slow Passthrough Around the World: A New Import for Developing Countries?
w11165 Giancarlo Corsetti
Philippe Martin
Paolo A. Pesenti

Productivity Spillovers, Terms of Trade and the "Home Market Effect"
w11171 Torsten Persson
Forms of Democracy, Policy and Economic Development
w11145 Joshua Aizenman
Financial Liberalization in Latin-America in the 1990s: A Reassessment
w11153 Guillermo A. Calvo
Ernesto Talvi

Sudden Stop, Financial Factors and Economic Collpase in Latin America: Learning from Argentina and Chile
w11127 Linda S. Goldberg
Cedric Tille

Vehicle Currency Use in International Trade
w11131 Assaf Razin
Yona Rubinstein

Evaluation of Exchange-Rate, Capital Market, and Dollarization Regimes in the Presence of Sudden Stops
w11133 V.V. Chari
Patrick Kehoe
Ellen R. McGrattan

Sudden Stops and Output Drops
w11137 Olivier Blanchard
Francesco Giavazzi
Filipa Sa

The U.S. Current Account and the Dollar
w11092 Ozge Senay
Alan Sutherland

Can Endogenous Changes in Price Flexibility Alter the Relative Welfare Performance of Exchange Rate Regimes?
w11061 Nelson C. Mark
Changing Monetary Policy Rules, Learning, and Real Exchange Rate Dynamics
w11076 Romain Ranciere
Aaron Tornell
Frank Westermann

Systemic Crises and Growth
w11077 Menzie D. Chinn
Guy Meredith

Testing Uncovered Interest Parity at Short and Long Horizons during the Post-Bretton Woods Era
w11041 Martin D.D. Evans
Richard K. Lyons

Do Currency Markets Absorb News Quickly?
w11042 Martin D.D. Evans
Richard K. Lyons

Meese-Rogoff Redux: Micro-Based Exchange Rate Forecasting
w11045 Francesco Caselli
Silvana Tenreyro

Is Poland the Next Spain?
w11056 Bennett T. McCallum
A Monetary Policy Rule for Automatic Prevention of a Liquidity Trap
w10995 Charles Engel
Kenneth D. West

Taylor Rules and the Deutschmark-Dollar Real Exchange Rate
w10940 Enrique G. Mendoza
Katherine A. Smith

Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices
w10942 Eswar S. Prasad
Kenneth S. Rogoff
Shang-Jin Wei
M. Ayhan Kose

Financial Globalization, Growth and Volatility in Developing Countries
w10945 John F. Helliwell
Demographic Changes and International Factor Mobility
w10957 Jeffrey A. Frankel
Eduardo A. Cavallo

Does Openness to Trade Make Countries More Vulnerable to Sudden Stops, Or Less? Using Gravity to Establish Causality
w10907 Jeffrey A. Frankel
Shang-Jin Wei

Managing Macroeconomic Crises
w10866 Robert C. Feenstra
Alan Heston
Marcel P. Timmer
Haiyan Deng

Estimating Real Production and Expenditures Across Nations: A Proposal for Improving the Penn World Tables
w10869 Maurice Obstfeld
Kenneth Rogoff

The Unsustainable US Current Account Position Revisited
w10843 Maurice Obstfeld
External Adjustment
w10827 Andres Velasco
Roberto Chang

Monetary Policy and the Currency Denomination of Debt: A Tale of Two Equilibria
w10785 Mihir A. Desai
C. Fritz Foley

The Comovement of Returns and Investment Within the Multinational Firm
w10786 Ricardo J. Caballero
Stavros Panageas

Contingent Reserves Management: An Applied Framework
w10790 Enrique G. Mendoza
Ceyhun Bora Durdu

Putting the Brakes on Sudden Stops: The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees
w10768 Barry Eichengreen
Yeongseop Rhee
Hui Tong

The Impact of China on the Exports of Other Asian Countries
w10780 Graciela L. Kaminsky
Carmen M. Reinhart
Carlos A. Vegh

When it Rains, it Pours: Procyclical Capital Flows and Macroeconomic Policies
w10781 Robert Dekle
Financing Consumption in an Aging Japan: The Role of Foreign Capital Inflows in Immigration
w10749 Ha Yan Lee
Luca Antonio Ricci
Roberto Rigobon

Once Again, is Openness Good for Growth?
w10750 Roberto Rigobon
Dani Rodrik

Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships
w10751 Ricardo Hausmann
Ugo Panizza
Roberto Rigobon

The Long-Run Volatility Puzzle of the Real Exchange Rate
w10725 Marianne Baxter
Michael A. Kouparitsas

Determinants of Business Cycle Comovement: A Robust Analysis
w10731 Mark Aguiar
Gita Gopinath

Defaultable Debt, Interest Rates and the Current Account
w10734 Mark Aguiar
Gita Gopinath

Emerging Market Business Cycles: The Cycle is the Trend
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Ashoka Mody
Kenneth S. Rogoff

Exchange Rate Regime Durability and Performance in Developing Countries Versus Advanced Economies
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P. Marcelo Oviedo

Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America: The Cases of Brazil, Colombia, Costa Rica, and Mexico
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Mark P. Taylor

The Purchasing Power Parity Debate
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Yona Rubinstein

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Reuven Glick
Alan M. Taylor

Productivity, Tradability, and the Long-Run Price Puzzle
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Marc J. Melitz

International Trade and Macroeconomic Dynamics with Heterogeneous Firms
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Jay C. Shambaugh
Alan M. Taylor

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Jay C. Shambaugh
Alan M. Taylor

The Trilemma in History: Tradeoffs among Exchange Rates, Monetary Policies, and Capital Mobility
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Richard K. Lyons

A New Micro Model of Exchange Rate Dynamics
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w10318 Anusha Chari
Peter Blair Henry

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Peter Blair Henry

Helping the Poor to Help Themselves: Debt Relief or Aid
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Patrick J. Kehoe

On the Desirability of Fiscal Constraints in a Monetary Union
w10238 Ariel Burstein
Joao C. Neves
Sergio Rebelo

Investment Prices and Exchange Rates: Some Basic Facts
w10217 Serkan Arslanalp
Peter Blair Henry

Is Debt Relief Efficient?
w10152 Romain Wacziarg
Karen Horn Welch

Trade Liberalization and Growth: New Evidence
w10110 Willem Buiter
Anne C. Sibert

Cross-Border Tax Externalities: Are Budget Deficits Too Small?
w10018 Martin Uribe
Vivian Z. Yue

Country Spreads and Emerging Countries: Who Drives Whom?
w9900 Paul R. Bergin
Ivan Tchakarov

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w9862 Stephanie Schmitt-Grohe
Martin Uribe

Anticipated Ramsey Reforms and the Uniform Taxation Principle: the Role of International Financial Markets
w9864 Guillermo A. Calvo
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w9828 Guillermo A. Calvo
Alejandro Izquierdo
Ernesto Talvi

Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability: Argentina's Lessons
w9808 Guillermo Calvo
Frederic S. Mishkin

The Mirage of Exchange Rate Regimes for Emerging Market Countries
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Stavros Panageas

Hedging Sudden Stops and Precautionary Contractions
w9739 Paul R. Bergin
Reuven Glick

Endogenous Tradability and Macroeconomic Implications
w9746 Enrique G. Mendoza
Linda L. Tesar

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w9618 Joshua Aizenman
Reuven Glick

Military Expenditure, Threats, and Growth
w9543 Michael B. Devereux
Charles Engel
Peter E. Storgaard

Endogenous Exchange Rate Pass-through when Nominal Prices are Set in Advance
w9521 Menzie D. Chinn
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w9514 Sebastian Edwards
Igal Magendzo

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w9498 Eric van Wincoop
Philippe Bacchetta

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w9435 Silvana Tenreyro
Robert J. Barro

Economic Effects of Currency Unions
w9436 Kenn Ariga
Kenji Matsui

Mismeasurement of the CPI
w9393 Yin-Wong Cheung
Menzie D. Chinn
Antonio Garcia Pascual

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w9372 Jean Imbs
Haroon Mumtaz
Morton O. Ravn
Helene Rey

PPP Strikes Back: Aggregation and the Real Exchange Rate
w9352 Philippe Bacchetta
Eric van Wincoop

Why Do Consumer Prices React less than Import Prices to Exchange Rates?
w9292 Jonathan Heathcote
Fabrizio Perri

Financial Globalization and Real Regionalization
w9294 Martin Uribe
Real Exchange Rate Targeting and Macroeconomic Instability
w9286 Enrique G. Mendoza
Katherine A. Smith

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w9288 Philippe Martin
Helene Rey

Financial Globalization and Emerging Markets: With or Without Crash?
w9270 Stephanie Schmitt-Grohe
Martin Uribe

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w9039 Philippe Bacchetta
Eric van Wincoop

A Theory of the Currency Denomination of International Trade
w9030 Aart Kraay
Jaume Ventura

Current Accounts in the Long and Short Run
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w8988 Anusha Chari
Peter Blair Henry

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Hiro Ito

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Jong-Wha Lee

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w8930 Stanley Fischer
Ratna Sahay
Carlos A. Vegh

Modern Hyper- and High Inflations
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Linda S. Goldberg

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Tommaso Monacelli

Monetary Policy and Exchange Rate Volatility in a Small Open Economy
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Enrique G. Mendoza

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Charles Engel

Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect
w8837 Martin Feldstein
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Andres Velasco

Dollarization: Analytical Issues
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Menzie D. Chinn

Productivity and the Euro-Dollar Exchange Rate Puzzle
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Efraim Sadka
Tarek Coury

Trade Openness and Investment Instability
w8783 Giancarlo Corsetti
Paolo Pesenti

Self-Validating Optimum Currency Areas
w8712 David Hummels
Peter J. Klenow

The Variety and Quality of a Nation's Trade
w8721 Eric Parrado
Andres Velasco

Optimal Interest Rate Policy in a Small Open Economy
w8725 Charles Engel
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I. Igal Magendzo

Dollarization, Inflation and Growth
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Ignazio Angeloni
Federico Etro

The Political Economy of International Unions
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James C. Morley

The Adjustment of Prices and the Adjustment of the Exchange Rate
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Beverly Lapham

Real Exchange Rate Fluctuations and the Dynamics of Retail Trade Industries on the U.S.-Canada Border
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Charles Engel

Endogenous Currency of Price Setting in a Dynamic Open Economy Model
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Dorsey D. Farr

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Helene Rey

Financial Super-Markets: Size Matters for Asset Trade
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Alan M. Taylor

Australian Growth: A California Perspective
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Alan C. Stockman

Current Accounts and Exchange Rates: A New Look at the Evidence
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Alan C. Stockman

Rational Speculation and Exchange Rates
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International Macroeconomics: Beyond the Mundell-Fleming Model
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Jong-Wha Lee

Recovery and Sustainability in East Asia
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Carlos A. Vegh

Living with the Fear of Floating: An Optimal Policy Perspective
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Dorsey Farr

Variable Factor Utilization and International Business Cycles
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Kenneth M. Kletzer

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Peter Blair Henry

Stock Market Liberalizations and the Repricing of Systematic Risk
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Joseph Tracy

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Samuel Kortum

Trade in Capital Goods
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Jaume Ventura

The World Income Distribution
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Jaume Ventura

Comparative Advantage and the Cross-section of Business Cycles
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A Century of Purchasing-Power Parity
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Roberto Rigobon

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Kenneth M. Kletzer

International Capital Inflows, Domestic Financial Intermediation and Financial Crises under Imperfect Information
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Shang-Jin Wei

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Roberto Chang
Andres Velasco

Balance Sheets and Exchange Rate Policy
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Andrew K. Rose

Estimating the Effect of Currency Unions on Trade and Output
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Joao C. Neves
Sergio Rebelo

Distribution Costs and Real Exchange Rate Dynamics During Exchange-Rate-Based-Stabilizations
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Kenneth Rogoff

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Macroeconomic Volatility in Latin America: A View and Three Case Studies
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Carlos A. Vegh

Delaying the Inevitable: Optimal Interest Rate Policy and BOP Crises
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Joshua Aizenman

Savings and the Terms of Trade Under Borrowing Constraints
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Shang-Jin Wei

Quality of Bureaucracy and Open-Economy Macro Policies
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John Whalley

State-Owned Enterprises, Shirking and Trade Liberalization
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Charles Engel

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Eswar S. Prasad

Medium-Term Determinants of Current Accounts in Industrial and Developing Countries: An Empirical Exploration
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Holger Wolf
Yi Wu

The Growth Costs of Malaria
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Martin Eichenbaum
Sergio T. Rebelo

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Michael A. Kouparitsas

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Scott Schuh
Robert K. Triest

Job Creation, Job Destruction, and the Real Exchange Rate
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Carlos A. Vegh

Tax Base Variability and Procyclical Fiscal Policy
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Charles Engel
Cedric Tille

Exchange Rate Pass-Through and the Welfare Effects of the Euro
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Giovanni Olivei

Capital Account Liberalization, Financial Depth and Economic Growth
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Menzie D. Chinn
Eiji Fujii

Market Structure and the Persistence of Sectoral Real Exchange Rates
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Andres Velasco

Short-Term Capital Flows
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Kenneth Rogoff

New Directions for Stochastic Open Economy Models
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Mark P. Moore

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Andres Velasco

Can Capital Mobility be Destabilizing?
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Roberto Rigobon

No Contagion, Only Interdependence: Measuring Stock Market Co-movements
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Andres Velasco

Liquidity Crises in Emerging Markets: Theory and Policy
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Open-Economy Macroeconomics, Developments in Theory and Policy
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Giovanni Peri

Regional Nonadjustment and Fiscal Policy: Lessons for EMU
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Tanguy van Ypersele

Capital Mobility, Distributive Conflict, and International Tax Coordination
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J. Bradford Jensen

Exporting and Productivity
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Martin Eichenbaum
Sergio Rebelo

Hedging and Financial Fragility in Fixed Exchange Rate Regimes
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On the Foreign-Exchange Risk Premium in Sticky-Price General Equilibrium Models
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Alan M. Taylor

Business Cycles in International Historical Perspective
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Charles Engel

The Optimal Choice of Exchange-Rate Regime: Price-Setting Rules and Internationalized Production
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Raman Uppal

Global Diversification, Growth and Welfare with Imperfectly Integrated Markets for Goods
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Robert C. Feenstra

Pricing to Market, Staggered Contracts, and Real Exchange Rate Persistence
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Martin Uribe

The Business Cycles of Balance-of-Payment Crises: A Revision of Mundellan Framework
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Carlos A. Vegh

Inflation Stabilization and BOP Crises in Developing Countries
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Fabrizio Zilbotti

Productivity Differences
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Paolo Pesenti
Nouriel Roubini
Cedric Tille

Competitive Devaluations: A Welfare-Based Approach
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Philippe Martin

Two Waves of Globalisation: Superficial Similarities, Fundamental Differences
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Ataman Ozyildirim
Norman R. Swanson

Trade, Investment, and Growth: Nexus, Analysis, and Prognosis
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Carlos A. Vegh

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Charles Engel

Fixed vs. Floating Exchange Rates: How Price Setting Affects the Optimal Choice of Exchange-Rate Regime
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Michael W. Klein

Risky Habits: On Risk Sharing, Habit Formation, and the Interpretation of International Consumption Correlations
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On the Won and Other East Asian Currencies
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Kenneth Rogoff

Risk and Exchange Rates
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Mario J. Crucini

Oil Prices and the Terms of Trade
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Campbell R. Harvey

Capital Flows and the Behavior of Emerging Market Equity Returns
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International Trade and Per Capita Income Convergence: A Difference-in-Differences Analysis
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The Global Capital Market: Benefactor or Menace?
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Trade Policy and Economic Performance in Sub-Saharan Africa
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The Current Account and the Real Exchange Rate: A Structural VAR Analysis of Major Currencies
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Philip R. Lane

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Rikard Forslid

Incremental Trade and Endogenous Growth: A q-Theory Approach
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Helene Rey

The Emergence of the Euro as an International Currency
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International Home Bias in International Finance and Business Cycles
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Jordi Gali
Mark Gertler

Monetary Policy Rules in Practice: Some International Evidence
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Enrico Spolaore
Romain Wacziarg

Economic Integration and Political Disintegration
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James Rauch

Openness, Specialization, and Productivity Growth in Less Developed Countries
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Alan M. Taylor

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Ignacio Hernando

Does Inflation Harm Economic Growth? Evidence for the OECD
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TFPG Controversies, Institutions, and Economic Performance in East Asia
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Allan Drazen

Uncertain Duration of Reform: Dynamic Implications
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Anne-Marie Gulde
Jonathan D. Ostry
Holger C. Wolf

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Patrick J. Kehoe
Ellen R. McGrattan

Monetary Shocks and Real Exchange Rates in Sticky Price Models of International Business Cycles
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Policy Signaling in the Open Economy: A Re-Examination
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Youngsun Koh

Liberalization of Capital Flows in Korea: Big-Bang or Gradualism?
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Convergence and International Factor Flows in Theory and History
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Seongjun Kim

International R&D Spillovers, Trade and Productivity in Major OECD Countries
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Sources of Convergence in the Late Nineteenth Century
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A Model of Foreign Exchange Rate Indetermination
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Chang-Jin Kim

The Long-Run U.S./U.K. Real Exchange Rate
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Andrew K. Rose

The Endogeneity of the Optimum Currency Area Criteria
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Louis Johnston

Real Exchange Rate Levels, Productivity and Demand Shocks: Evidence from a Panel of 14 Countries
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Francis T. Lui

Hong Kong's Currency Board and Changing Monetary Regimes
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Elena Seghezza

Trade-Induced Investment-led Growth
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Understanding Financial Crises: A Developing Country Perspective
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Economic Growth and Social Capital in Asia
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Elena Seghezza

Testing for Trade-Induced Investment-Led Growth
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Nancy Marion

Volatility, Investment and Disappointment Aversion
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Accounting for U.S. Real Exchange Rate Changes
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John H. Rogers

Regional Patterns in the Law of One Price: The Roles of Geography vs. Currencies
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Menzie Chinn

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Rikard Forslid
Jan Haaland

Investment Creation and Investment Diversion: Simulation Analysis of theSingle Market Programme
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Vittorio Grilli

Liquidity Models in Open Economies: Theory and Empirical Evidence
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Jose-Victor Rios-Rull

The Balance of Payments and Borrowing Constraints: An Alternative View of the Mexican Crisis
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Michael Dooley

Asia-Pacific Capital Markets: Measurement of Integration and the Implications for Economic Activity
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Carlos A. Vegh

Real Effects of Exchange Rate-Based Stabilization: An Analysis of Competing Theories
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Linda L. Tesar

Supply-Side Economics in a Global Economy
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Samuel Kortum

Trade in Ideas: Patenting and Productivity in the OECD
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Jose De Gregorio
Jong-Wha Lee

How Does Foreign Direct Investment Affect Economic Growth?
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Urban J. Jermann

The International Diversification Puzzle is Worse Than You Think
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International Trade and Business Cycles
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Samuel Kortum

International Patenting and Technology Diffusion
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Assaf Razin
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Effective Tax Rates in Macroeconomics: Cross-Country Estimates of Tax Rates on Factor Incomes and Consumption
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Craig S. Hakkio

The Distribution of Exchange Rates in the EMS
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Ricardo Hausmann

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Holger C. Wolf

Terms of Trade, Productivity, and the Real Exchange Rate
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Joshua Aizenman

Macroeconomic Adjustment with Segmented Labor Markets
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Kenneth Rogoff

Exchange Rate Dynamics Redux
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Edward L. Glaeser

Evidence on Growth, Increasing Returns and the Extent of the Market
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Capital Goods Imports and Long-Run Growth
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Dominique Simard
Eugene White

France and the Bretton Woods International Monetary System: 1960-1968
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John H. Rogers

Relative Returns on Equities in Pacific Basin Countries
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Balanced and Unbalanced Growth
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Zvi Eckstein

Cities and Growth: Theory and Evidence from France and Japan
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Lee E. Ohanian

Short-Run Independence of Monetary Policy Under Pegged Exchange Rates and Effects of Money on Exchange Rates and Interest Rates
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The Dependent Economy Model with Both Traded and Non-Traded Capital Goods
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International Capital Mobility, Public Investment and Economic Growth
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Alberto Giovannini

International Evidence on Tradables and Nontradable Inflation
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Mark P. Taylor

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Peter Isard

Resource Allocation During the Transition to a Market Economy: Political Implications of Supply Bottlenecks and Adjustment Costs
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The Political Economy of Infaliton and Stabilization in Developing Countries
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The Dollar and the Trade Deficit in the 1980s: A Personal View
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Some Empirical Evidence on the Effects of Monetary Policy Shocks on Exchange Rates
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Specification of Policy Rules and Performance Measures in Multicountry Simulation Studies
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Patrick J. Kehoe
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Dynamics of the Trade Balance and the Terms of Trade: The S-Curve
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Chi-Wa Yuen

Convergence in Growth Rates: The Role of Capital Mobility and International Taxation
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Permanent International Productivity Growth Differentials in an Integrated Global Economy
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Macroeconomic Adjustment Under Bretton Woods and the Post-Bretton Woods Float: An Impulse-Response Analysis
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The International Transmission of Tax Policies in a Dynamic World Economy
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Sequencing and Welfare: Labor Markets and Agriculture
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Inflation and Social Welfare in a Model With Endogenous Financial Adaptation
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Empirical Linkages Between Democracy and Economic Growth
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Alan Chung

Convergence and Growth Linkages Between North and South
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External Shocks, Politics and Private Investment: Some Theory and Empirical Evidence
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Halting Inflation in Italy and France After World War II
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