NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Papers in International Finance and Macroeconomics


2015
w21054 Karen K. Lewis
Do Foreign Firm Betas Change During Cross-listing?

w21042 Charles Engel
Exchange Rates, Interest Rates, and the Risk Premium

w21040 Takatoshi Ito
Satoshi Koibuchi
Kiyotaka Sato
Junko Shimizu

Exchange Rate Exposure and Risk Management: The case of Japanese Exporting Firms

w21026 Juan Carlos Conesa
Timothy J. Kehoe

Gambling for Redemption and Self-Fulfilling Debt Crises

w21021 Christina D. Romer
David H. Romer

New Evidence on the Impact of Financial Crises in Advanced Countries

w21019 Joshua Aizenman
Eduardo Cavallo
Ilan Noy

Precautionary Strategies and Household Saving

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

w20970 Andrés Fernández
Michael W. Klein
Alessandro Rebucci
Martin Schindler
Martín Uribe

Capital Control Measures: A New Dataset

w20964 Sebastian Edwards
Sovereign Default, Debt Restructuring, and Recovery Rates: Was the Argentinean “Haircut” Excessive?

w20963 Stefano Giglio
Bryan T. Kelly
Seth Pruitt

Systemic Risk and the Macroeconomy: An Empirical Evaluation

w20957 Jennifer N. Carpenter
Fangzhou Lu
Robert F. Whitelaw

The Real Value of China's Stock Market

w20952 Charles Engel
International Coordination of Central Bank Policy

w20951 Charles Engel
Macroprudential Policy in a World of High Capital Mobility: Policy Implications from an Academic Perspective

w20943 Joshua Aizenman
The Internationalization of the RMB, Capital Market Openness, and Financial Reforms in China

w20924 Daqing Yao
John Whalley

The China (Shanghai) Pilot Free Trade Zone: Background, Developments and Preliminary Assessment of Initial Impacts

w20917 Joshua Aizenman
Yothin Jinjarak
Donghyun Park

Financial Development and Output Growth in Developing Asia and Latin America: A Comparative Sectoral Analysis

w20901 Daqing Yao
John Whalley

An Evaluation of the Impact of the China (Shanghai) Pilot Free Trade Zone (SPFTZ)

w20898 Pranjul Bhandari
Jeffrey A. Frankel

Nominal GDP Targeting for Developing Countries

w20896 Yan Bai
Seon Tae Kim
Gabriel P. Mihalache

The Maturity and Payment Schedule of Sovereign Debt

w20893 Sebastian Edwards
Monetary Policy Independence under Flexible Exchange Rates: An Illusion?

w20872 Alessandra Fogli
Fabrizio Perri

Macroeconomic Volatility and External Imbalances

w20863 Ross Levine
Chen Lin
Wensi Xie

Spare Tire? Stock Markets, Banking Crises, and Economic Recoveries

w20860 Kristin Forbes
Marcel Fratzscher
Roland Straub

Capital Flow Management Measures: What Are They Good For?

w20857 Rabah Arezki
Valerie A. Ramey
Liugang Sheng

News Shocks in Open Economies: Evidence from Giant Oil Discoveries

w20827 Alberto Alesina
Omar Barbiero
Carlo Favero
Francesco Giavazzi
Matteo Paradisi

Austerity in 2009-2013

w20822 Gurnain Pasricha
Matteo Falagiarda
Martin Bijsterbosch
Joshua Aizenman

Domestic and Multilateral Effects of Capital Controls in Emerging Markets

w20821 Era Dabla-Norris
Yan Ji
Robert M. Townsend
D. Filiz Unsal

Distinguishing Constraints on Financial Inclusion and Their Impact on GDP and Inequality

w20820 Agustín S. Bénétrix
Philip R. Lane
Jay C. Shambaugh

International Currency Exposures, Valuation Effects, and the Global Financial Crisis


2014
w20819 Yuriy Gorodnichenko
Viacheslav Sheremirov
Oleksandr Talavera

Price Setting in Online Markets: Does IT Click?

w20806 Assaf Razin
Efraim Sadka
Benjarong Suwankiri

The Welfare State and Migration: A Dynamic Analysis of Political Coalitions

w20805 Anton Korinek
Damiano Sandri

Capital Controls or Macroprudential Regulation?

w20803 Markus K. Brunnermeier
Yuliy Sannikov

International Credit Flows and Pecuniary Externalities

w20796 Lars E.O. Svensson
Forward Guidance

w20786 Raquel Fernández
Alberto Martin

The Long and the Short of It: Sovereign Debt Crises and Debt Maturity

w20771 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

Betting the House

w20769 Joel M. David
Espen Henriksen
Ina Simonovska

The Risky Capital of Emerging Markets

w20758 Martin Goetz
Luc Laeven
Ross Levine

Does the Geographic Expansion of Bank Assets Reduce Risk?

w20751 Raphael Corbi
Elias Papaioannou
Paolo Surico

Federal Transfer Multipliers. Quasi-Experimental Evidence from Brazil

w20726 Laura Alfaro
Anusha Chari
Fabio Kanczuk

The Real Effects of Capital Controls: Financial Constraints, Exporters, and Firm Investment

w20685 Sebastian Edwards
Economic Development and the Effectiveness of Foreign Aid: A Historical Perspective

w20682 Kewei Hou
Chen Xue
Lu Zhang

A Comparison of New Factor Models

w20675 Carlos A. Vegh
Guillermo Vuletin

The Road to Redemption: Policy Response to Crises in Latin America

w20663 George Alessandria
Horag Choi
Kim Ruhl

Trade Adjustment Dynamics and the Welfare Gains from Trade

w20646 Joshua Aizenman
Daniel Riera-Crichton

Liquidity and Foreign Asset Management Challenges for Latin American Countries

w20616 George Alessandria
Horag Choi
Joseph P. Kaboski
Virgiliu Midrigan

Microeconomic Uncertainty, International Trade, and Aggregate Fluctuations

w20612 Pablo Federico
Carlos A. Vegh
Guillermo Vuletin

Reserve Requirement Policy over the Business Cycle

w20606 Loukas Karabarbounis
Brent Neiman

Capital Depreciation and Labor Shares Around the World: Measurement and Implications

w20577 Carmen M. Reinhart
Christoph Trebesch

A Distant Mirror of Debt, Default, and Relief

w20576 Alberto Cavallo
Guillermo Cruces
Ricardo Perez-Truglia

Inflation Expectations, Learning and Supermarket Prices: Evidence from Field Experiments

w20573 Lant Pritchett
Lawrence H. Summers

Asiaphoria Meets Regression to the Mean

w20572 Philippe Martin
Thomas Philippon

Inspecting the Mechanism: Leverage and the Great Recession in the Eurozone

w20571 John D. Burger
Rajeswari Sengupta
Francis E. Warnock
Veronica Cacdac Warnock

U.S. Investment in Global Bonds: As the Fed Pushes, Some EMEs Pull

w20567 Brent Glover
Seth Richards-Shubik

Contagion in the European Sovereign Debt Crisis

w20564 Joshua Aizenman
Gunnar Gunnarsson

Fiscal Challenges in Multilayered Unions: An Overview and Case Study

w20545 Richard Clarida
Monetary Policy in Open Economies: Practical Perspectives for Pragmatic Central Bankers

w20533 Daniel Riera-Crichton
Carlos A. Vegh
Guillermo Vuletin

Procyclical and Countercyclical Fiscal Multipliers: Evidence from OECD Countries

w20527 Horag Choi
Steven Lugauer
Nelson C. Mark

Precautionary Saving of Chinese and U.S. Households

w20526 Michael B. Devereux
Changhua Yu

International Financial Integration and Crisis Contagion

w20518 John Fernald
Mark M. Spiegel
Eric T. Swanson

Monetary Policy Effectiveness in China: Evidence from a FAVAR Model

w20510 Martin Berka
Michael B. Devereux
Charles Engel

Real Exchange Rates and Sectoral Productivity in the Eurozone

w20498 Fernando Leibovici
Michael E. Waugh

International Trade and Intertemporal Substitution

w20494 Andrew K. Rose
The Bond Market: An Inflation-Targeter's Best Friend

w20490 Javier Bianchi
Saki Bigio

Banks, Liquidity Management and Monetary Policy

w20475 Sebastian Edwards
Alvaro Garcia Marin

Constitutional Rights and Education: An International Comparative Study

w20468 Matthias Efing
Harald Hau
Patrick Kampkötter
Johannes Steinbrecher

Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German, and Swiss Banks

w20454 Michael P. Dooley
David Folkerts-Landau
Peter M. Garber

The Revived Bretton Woods System's First Decade

w20450 Assaf Razin
Efraim Sadka

Migration and Welfare State: Why is America Different from Europe?

w20433 Kent Daniel
Robert J. Hodrick
Zhongjin Lu

The Carry Trade: Risks and Drawdowns

w20406 Yuriy Gorodnichenko
Oleksandr Talavera

Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-border Integration

w20391 Peter Benczur
Cosmin L. Ilut

Evidence for Relational Contracts in Sovereign Bank Lending

w20386 Joshua Aizenman
Yin-Wong Cheung
Hiro Ito

International Reserves Before and After the Global Crisis: Is There No End to Hoarding?

w20352 Solomon M. Hsiang
Amir S. Jina

The Causal Effect of Environmental Catastrophe on Long-Run Economic Growth: Evidence From 6,700 Cyclones

w20346 Helios Herrera
Guillermo Ordoñez
Christoph Trebesch

Political Booms, Financial Crises

w20336 Tatiana Didier
Ross Levine
Sergio L. Schmukler

Capital Market Financing, Firm Growth, Firm Size Distribution

w20316 Barry Eichengreen
Ugo Panizza

A Surplus of Ambition: Can Europe Rely on Large Primary Surpluses to Solve its Debt Problem?

w20314 Seunghoon Na
Stephanie Schmitt-Grohé
Martin Uribe
Vivian Z. Yue

A Model of the Twin Ds: Optimal Default and Devaluation

w20286 Claudia M. Buch
Linda S. Goldberg

International Banking and Liquidity Risk Transmission: Lessons from Across Countries

w20294 Tarek A. Hassan
Rui C. Mano

Forward and Spot Exchange Rates in a Multi-currency World

w20285 Ricardo Correa
Linda S. Goldberg
Tara Rice

Liquidity Risk and U.S. Bank Lending at Home and Abroad

w20277 Mark Aguiar
Manuel Amador
Emmanuel Farhi
Gita Gopinath

Coordination and Crisis in Monetary Unions

w20275 Weerachart T. Kilenthong
Robert M. Townsend

A Market Based Solution to Price Externalities: A Generalized Framework

w20228 Michael D. Bordo
Ehsan U. Choudhri
Giorgio Fazio
Ronald MacDonald

The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered

w20267 Barry Eichengreen
Arnaud J. Mehl
Livia Chițu
Gary Richardson

Mutual Assistance between Federal Reserve Banks, 1913-1960 as Prolegomena to the TARGET2 Debate

w20252 Michael B. Devereux
James Yetman

Globalisation, Pass-through and the Optimal Policy Response to Exchange Rates

w20247 Mario J. Crucini
Gregor W. Smith

Geographic Barriers to Commodity Price Integration: Evidence from US Cities and Swedish Towns, 1732-1860

w20246 Marcin Kacperczyk
Jaromir B. Nosal
Luminita Stevens

Investor Sophistication and Capital Income Inequality

w20244 Angus Deaton
Bettina Aten

Trying to Understand the PPPs in ICP2011: Why are the Results so Different?

w20242 Joshua Aizenman
The Eurocrisis: Muddling Through, or On the Way to a More Perfect Euro Union?

w20236 Nikhil Patel
Zhi Wang
Shang-Jin Wei

Global Value Chains and Effective Exchange Rates at the Country-Sector Level

w20225 Alberto Cavallo
Brent Neiman
Roberto Rigobon

The Price Impact of Joining a Currency Union: Evidence from Latvia

w20220 Kris James Mitchener
Kirsten Wandschneider

Capital Controls and Recovery from the Financial Crisis of the 1930s

w20200 Enrique G. Mendoza
Linda L. Tesar
Jing Zhang

Saving Europe?: The Unpleasant Arithmetic of Fiscal Austerity in Integrated Economies

w20188 Dani Rodrik
An African Growth Miracle?

w20174 Francesco Giavazzi
Ivan Petkov
Fabio Schiantarelli

Culture: Persistence and Evolution

w20154 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

No-Bubble Condition: Model-free Tests in Housing Markets

w20105 Emmanuel Farhi
Iván Werning

Labor Mobility Within Currency Unions

w20099 Paul Bergin
Ling Feng
Ching-Yi Lin

Financial Frictions and Firm Dynamics

w20086 Robert Townsend
Weerachart Kilenthong

Segregated Security Exchanges with Ex Ante Rights to Trade: A Market-Based Solution to Collateral-Constrained Externalities

w20073 Greg Kaplan
Giovanni L. Violante
Justin Weidner

The Wealthy Hand-to-Mouth

w20063 Robert C. Feenstra
Philip A. Luck
Maurice Obstfeld
Katheryn N. Russ

In Search of the Armington Elasticity

w20061 Julian di Giovanni
Andrei Levchenko
Isabelle Mejean

Firms, Destinations, and Aggregate Fluctuations

w20046 Kamran Bilir
Davin Chor
Kalina Manova

Host-Country Financial Development and Multinational Activity

w20042 Graciela L. Kaminsky
Pablo Vega-García

Varieties of Sovereign Crises: Latin America 1820-1931

w20033 Galina Hale
Maurice Obstfeld

The Euro and The Geography of International Debt Flows

w20003 Ron Alquist
Olivier Coibion

Commodity-Price Comovement and Global Economic Activity

w20002 Julian di Giovanni
Andrei Levchenko
Francesc Ortega

A Global View of Cross-Border Migration

w19994 Oleg Itskhoki
Benjamin Moll

Optimal Development Policies with Financial Frictions

w19985 Anne-Laure Delatte
Julien Fouquau
Richard Portes

Nonlinearities in Sovereign Risk Pricing: The Role of CDS Index Contracts

w19980 Joshua Aizenman
Mahir Binici
Michael M. Hutchison

The Transmission of Federal Reserve Tapering News to Emerging Financial Markets

w19974 Yongheng Deng
Xin Liu
Shang-Jin Wei

One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?

w19970 Anton Korinek
Alp Simsek

Liquidity Trap and Excessive Leverage

w19968 Doireann Fitzgerald
Stefanie Haller

Exporters and Shocks: Dissecting the International Elasticity Puzzle

w19967 Olivier Jeanne
Macroprudential Policies in a Global Perspective

w19963 Stephanie E. Curcuru
Charles P. Thomas
Francis E. Warnock
Jon Wongswan

Uncovered Equity Parity and Rebalancing in International Portfolios

w19958 Roger Farmer
Asset Prices in a Lifecycle Economy

w19951 Nicholas Bloom
Paul M. Romer
Stephen J. Terry
John Van Reenen

Trapped Factors and China's Impact on Global Growth

w19941 Dennis Novy
Alan M. Taylor

Trade and Uncertainty

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

w19917 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

Foreign Ownership of U.S. Safe Assets: Good or Bad?

w19914 Sebnem Kalemli-Ozcan
Emiliano E. Luttini
Bent Sorensen

Debt Crises and Risk Sharing: The Role of Markets versus Sovereigns

w19909 Juan Carlos Conesa
Timothy J. Kehoe

Is It Too Late to Bail Out the Troubled Countries in the Eurozone?

w19893 Emi Nakamura
Jón Steinsson
Miao Liu

Are Chinese Growth and Inflation Too Smooth? Evidence from Engel Curves

w19864 Fatih Guvenen
Greg Kaplan
Jae Song

How Risky Are Recessions for Top Earners?

w19854 Xavier Gabaix
Matteo Maggiori

International Liquidity and Exchange Rate Dynamics

w19840 Anusha Chari
Peter Blair Henry

Two Tales of Adjustment: East Asian Lessons for European Growth

w19828 Carlos A. Vegh
Guillermo Vuletin

Social Implications of Fiscal Policy Responses During Crises

w19823 Carmen M. Reinhart
Kenneth S. Rogoff

Recovery from Financial Crises: Evidence from 100 Episodes

w19791 Matthieu Bussière
Gong Cheng
Menzie D. Chinn
Noëmie Lisack

For a Few Dollars More: Reserves and Growth in Times of Crises

w19786 Geert Bekaert
Campbell R. Harvey
Christian T. Lundblad
Stephan Siegel

Political Risk Spreads


Generated Wed Apr 1 00:00:14 2015

 
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