NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Papers in International Finance and Macroeconomics


2012
w17839 John Ammer
Sara B. Holland
David C. Smith
Francis E. Warnock

U.S. International Equity Investment

w17837 Francesco Giavazzi
Michael McMahon

The Households Effects of Government Consumption

w17815 Mario J. Crucini
Mototsugu Shintani
Takayuki Tsuruga

Noisy Information, Distance and Law of One Price Dynamics Across US Cities

w17812 Mario J. Crucini
Anthony Landry

Accounting for Real Exchange Rates Using Micro-data

w17806 Joshua Aizenman
Hiro Ito

Trilemma Policy Convergence Patterns and Output Volatility

w17796 Michael B. Devereux
Ozge Senay
Alan Sutherland

Nominal Stability and Financial Globalization

w17790 Kyle Handley
Nuno Limão

Trade and Investment under Policy Uncertainty: Theory and Firm Evidence

w17788 Yin-Wong Cheung
Michael P. Dooley
Vladyslav Sushko

Investment and Growth in Rich and Poor Countries

w17756 Yun Jung Kim
Linda Tesar
Jing Zhang

The Impact of Foreign Liabilities on Small Firms: Firm-Level Evidence from the Korean Crisis

w17764 Sebastian Edwards
Is Tanzania a Success Story? A Long Term Analysis

w17763 Juan Carlos Gozzi
Ross Levine
Maria Soledad Martinez Peria
Sergio L. Schmukler

How Firms Use Domestic and International Corporate Bond Markets

w17754 Wolfgang Keller
Ben Li
Carol H. Shiue

Shanghai’s Trade, China’s Growth: Continuity, Recovery, and Change since the Opium War

w17753 Carlos A. Vegh
Guillermo Vuletin

How is Tax Policy Conducted over the Business Cycle?


2011
w17712 Matthieu Bussière
Giovanni Callegari
Fabio Ghironi
Giulia Sestieri
Norihiko Yamano

Estimating Trade Elasticities: Demand Composition and the Trade Collapse of 2008-09

w17708 Giancarlo Corsetti
Gernot J. Müller

Multilateral Economic Cooperation and the International Transmission of Fiscal Policy

w17692 Joshua Aizenman
Sebastian Edwards
Daniel Riera-Crichton

Adjustment patterns to commodity terms of trade shocks: the role of exchange rate and international reserves policies

w17691 Nicolas Coeurdacier
Hélène Rey

Home Bias in Open Economy Financial Macroeconomics

w17686 Eric van Wincoop
International Contagion Through Leveraged Financial Institutions

w17680 Arnaud Costinot
Guido Lorenzoni
Iván Werning

A Theory of Capital Controls as Dynamic Terms-of-Trade Manipulation

w17675 Andrei A. Levchenko
International Trade and Institutional Change

w17670 Nicolas E. Magud
Carmen M. Reinhart
Esteban R. Vesperoni

Capital Inflows, Exchange Rate Flexibility, and Credit Booms

w17665 Barry Eichengreen
International Policy Coordination: The Long View

w17662 Emmanuel Farhi
Gita Gopinath
Oleg Itskhoki

Fiscal Devaluations

w17645 John Whalley
Manmohan Agarwal
Jing Wang
Sean Walsh
Chen Yan

Linking External Sector Imbalances and Changing Financial Instability before the 2008 Financial Crisis

w17641 Maurice Obstfeld
The International Monetary System: Living with Asymmetry

w17621 Òscar Jordà
Moritz HP. Schularick
Alan M. Taylor

When Credit Bites Back: Leverage, Business Cycles, and Crises

w17620 Stelios Michalopoulos
Elias Papaioannou

The Long-Run Effects of the Scramble for Africa

w17619 Jeffrey A. Frankel
Carlos A. Végh
Guillermo Vuletin

On Graduation from Fiscal Procyclicality

w17617 Martin S. Feldstein
The Euro and European Economic Conditions

w17612 Faruk Balli
Sebnem Kalemli-Ozcan
Bent Sorensen

Risk Sharing through Capital Gains

w17597 Douglas A. Irwin
Anticipating the Great Depression? Gustav Cassel’s Analysis of the Interwar Gold Standard

w17593 Barry Eichengreen
Hui Tong

The External Impact of China's Exchange Rate Policy: Evidence from Firm Level Data

w17594 Gita Gopinath
Oleg Itskhoki
Brent Neiman

Trade Prices and the Global Trade Collapse of 2008-2009

w17586 Giorgia Palladini
Richard Portes

Sovereign CDS and Bond Pricing Dynamics in the Euro-area

w17581 Charles Yuji Horioka
Akiko Terada-Hagiwara

The Determinants and Long-term Projections of Saving Rates in Developing Asia

w17571 Roberto Perotti
The "Austerity Myth": Gain Without Pain?

w17564 Ian Martin
The Forward Premium Puzzle in a Two-Country World

w17563 Ian Martin
The Lucas Orchard

w17560 Nicolas Coeurdacier
Pierre-Olivier Gourinchas

When Bonds Matter: Home Bias in Goods and Assets

w17552 Guido Sandleris
Mark L.J. Wright

The Costs of Financial Crises: Resource Misallocation, Productivity and Welfare in the 2001 Argentine Crisis

w17551 Daniel A. Dias
Christine J. Richmond
Mark L.J. Wright

The Stock of External Sovereign Debt: Can We Take the Data At ‘Face Value’?

w17549 Jiandong Ju
Kang Shi
Shang-Jin Wei

On the Connection between Intertemporal and Intra-temporal Trades

w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector

w17530 Joshua Aizenman
Brian Pinto
Vladyslav Sushko

Financial Sector Ups and Downs and the Real Sector: Big Hindrance, Little Help

w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions

w17515 Assaf Razin
Jackline Wahba

Welfare Magnet Hypothesis, Fiscal Burden and Immigration Skill Selectivity

w17513 Menzie D. Chinn
Barry Eichengreen
Hiro Ito

A Forensic Analysis of Global Imbalances

w17506 Alp Simsek
Speculation and Risk Sharing with New Financial Assets

w17501 Giancarlo Corsetti
Luca Dedola
Francesca Viani

Traded and Nontraded Goods Prices, and International Risk Sharing: an Empirical Investigation.

w17497 Eswar S. Prasad
Role Reversal in Global Finance

w17490 Francis X. Diebold
Kamil Yilmaz

On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms

w17318 Barry Eichengreen
Raul Razo-Garcia

How Reliable are De Facto Exchange Rate Regime Classifications?

w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis

w17457 Mark A. Aguiar
Manuel Amador

Fiscal Policy in Debt Constrained Economies

w17427 Joshua Aizenman
Yothin Jinjarak

The Fiscal Stimulus of 2009-10: Trade Openness, Fiscal Space and Exchange Rate Adjustment

w17424 Yuriy Gorodnichenko
Anna Mikusheva
Serena Ng

Estimators for Persistent and Possibly Non-Stationary Data with Classical Properties

w17421 S. Boragan Aruoba
Francis X. Diebold
Jeremy Nalewaik
Frank Schorfheide
Dongho Song

Improving GDP Measurement: A Forecast Combination Perspective

w17415 Christoph Moser
Andrew K. Rose

Who Benefits from Regional Trade Agreements? The View from the Stock Market

w17407 Joshua Aizenman
Michael M. Hutchison
Yothin Jinjarak

What is the Risk of European Sovereign Debt Defaults? Fiscal Space, CDS Spreads and Market Pricing of Risk

w17401 Barry Eichengreen
Nergiz Dincer

Who Should Supervise? The Structure of Bank Supervision and the Performance of the Financial System

w17396 Laura Alfaro
Sebnem Kalemli-Ozcan
Vadym Volosovych

Sovereigns, Upstream Capital Flows and Global Imbalances

w17391 Emi Nakamura
Jón Steinsson

Fiscal Stimulus in a Monetary Union: Evidence from U.S. Regions

w17379 Maurice Obstfeld
International Liquidity: The Fiscal Dimension

w17363 Mahvash S. Qureshi
Jonathan D. Ostry
Atish R. Ghosh
Marcos Chamon

Managing Capital Inflows: The Role of Capital Controls and Prudential Policies

w17362 Kathryn M.E. Dominguez
Yuko Hashimoto
Takatoshi Ito

International Reserves and the Global Financial Crisis

w17361 Bergljot Barkbu
Barry Eichengreen
Ashoka Mody

International Financial Crises and the Multilateral Response: What the Historical Record Shows

w17360 Stijn Claessens
Hui Tong
Shang-Jin Wei

From the Financial Crisis to the Real Economy: Using Firm-level Data to Identify Transmission Channels

w17359 Andrew K. Rose
Mark M. Spiegel

Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis

w17358 Claudio Raddatz
Sergio L. Schmukler

On the International Transmission of Shocks: Micro-Evidence from Mutual Fund Portfolios

w17357 Marcel Fratzscher
Capital Flows, Push versus Pull Factors and the Global Financial Crisis

w17356 Galina Hale
Bank Relationships, Business Cycles, and Financial Crises

w17355 Nicola Cetorelli
Linda S. Goldberg

Liquidity management of U.S. global banks: Internal capital markets in the great recession

w17354 Sebnem Kalemli-Ozcan
Bent Sorensen
Sevcan Yesiltas

Leverage Across Firms, Banks, and Countries

w17353 Pierre-Olivier Gourinchas
Hélène Rey
Kai Truempler

The Financial Crisis and The Geography of Wealth Transfers

w17352 Philip R. Lane
Gian Maria Milesi Ferretti

External Adjustment and the Global Crisis

w17351 Kristin J. Forbes
Francis E. Warnock

Capital Flow Waves: Surges, Stops, Flight, and Retrenchment

w17350 Carol Bertaut
Laurie Pounder DeMarco
Steven B. Kamin
Ralph W. Tryon

ABS Inflows to the United States and the Global Financial Crisis

w17335 Julian di Giovanni
Andrei A. Levchenko

Country Size, International Trade, and Aggregate Fluctuations in Granular Economies

w17331 Athanasios Geromichalos
Ina Simonovska

Asset Liquidity and International Portfolio Choice

w17301 Andreas Fuster
Benjamin Hebert
David Laibson

Natural Expectations, Macroeconomic Dynamics, and Asset Pricing

w17289 Michael B. Devereux
Viktoria Hnatkovska

The Extensive Margin, Sectoral Shares and International Business Cycles

w17288 Michael B. Devereux
Viktoria Hnatkovska

Consumption Risk-Sharing and the Real Exchange Rate: Why does the Nominal Exchange Rate Make Such a Difference?

w17278 Craig Burnside
Carry Trades and Risk

w17277 François Gourio
Michael Siemer
Adrien Verdelhan

International Risk Cycles

w17274 Laurence M. Ball
Nicolás De Roux
Marc Hofstetter

Unemployment in Latin America and the Caribbean

w17272 Carlo Favero
Francesco Giavazzi
Jacopo Perego

Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy

w17271 Enrico Spolaore
Romain Wacziarg

Long-Term Barriers to the International Diffusion of Innovations

w17261 Karen K. Lewis
Global Asset Pricing

w17260 Martin S. Feldstein
What's Next for the Dollar?

w17252 Pierre-Olivier Gourinchas
Maurice Obstfeld

Stories of the Twentieth Century for the Twenty-First

w17239 Jeffrey A. Frankel
Over-optimism in Forecasts by Official Budget Agencies and Its Implications

w17224 Klaus Adam
Pei Kuang
Albert Marcet

House Price Booms and the Current Account

w17201 Fabrizio Perri
Vincenzo Quadrini

International Recessions

w17184 Stelios Michalopoulos
Elias Papaioannou

Divide and Rule or the Rule of the Divided? Evidence from Africa

w17151 Enrique G. Mendoza
Vivian Z. Yue

A General Equilibrium Model of Sovereign Default and Business Cycles

w17150 Òscar Jordà
Alan M. Taylor

Performance Evaluation of Zero Net-Investment Strategies

w17141 Laura Alfaro
Maggie Chen

Surviving the Global Financial Crisis: Foreign Ownership and Establishment Performance

w17136 Viral V. Acharya
Itamar Drechsler
Philipp Schnabl

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk

w17133 Gianluca Benigno
Pierpaolo Benigno
Salvatore Nisticò

Risk, Monetary Policy and the Exchange Rate

w17131 David Cook
Michael B. Devereux

Sharing the Burden: Monetary and Fiscal Responses to a World Liquidity Trap

w17126 Martin Berka
Michael B. Devereux
Thomas Rudolph

Price Setting in a Leading Swiss Online Supermarket

w17121 Geert Bekaert
Michael Ehrmann
Marcel Fratzscher
Arnaud J. Mehl

Global Crises and Equity Market Contagion

w17116 Charles Engel
The Real Exchange Rate, Real Interest Rates, and the Risk Premium

w17090 Lieven Baele
Geert Bekaert
Seonghoon Cho
Koen Inghelbrecht
Antonio Moreno

Macroeconomic Regimes

w17074 Sebastian Edwards
Exchange Rates in Emerging Countries: Eleven Empirical Regularities from Latin America and East Asia

w17073 Andrew K. Rose
Tomasz Wieladek

Financial Protectionism: the First Tests

w17024 Michael D. Bordo
Peter L. Rousseau

Historical Evidence on the Finance-Trade-Growth Nexus

w16998 Gianni De Nicolò
Marcella Lucchetta

Systemic Risks and the Macroeconomy

w16994 Douglas W. Diamond
Raghuram Rajan

Illiquid Banks, Financial Stability, and Interest Rate Policy

w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data

w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects

w16962 Shin-ichi Fukuda
Market-specific and Currency-specific Risk During the Global Financial Crisis: Evidence from the Interbank Markets in Tokyo and London

w16960 Ariel Burstein
Marc J. Melitz

Trade Liberalization and Firm Dynamics

w16958 Gita Gopinath
Brent Neiman

Trade Adjustment and Productivity in Large Crises

w16945 Jeffrey A. Frankel
A Solution to Fiscal Procyclicality: The Structural Budget Institutions Pioneered by Chile

w16941 Isil Erel
Brandon Julio
Woojin Kim
Michael S. Weisbach

Macroeconomic Conditions and Capital Raising

w16925 Gabriel P. Mathy
Christopher M. Meissner

Trade, Exchange Rate Regimes and Output Co-Movement: Evidence from the Great Depression

w16919 Barry Eichengreen
Donghyun Park
Kwanho Shin

When Fast Growing Economies Slow Down: International Evidence and Implications for China

w16916 Craig Doidge
G. Andrew Karolyi
René M. Stulz

The U.S. Left Behind: The Rise of IPO Activity Around the World

w16905 Kalina Manova
Shang-Jin Wei
Zhiwei Zhang

Firm Exports and Multinational Activity Under Credit Constraints

w16904 Ariel Burstein
Jonathan Vogel

Factor Prices and International Trade: A Unifying Perspective

w16899 Patrick Bolton
Olivier Jeanne

Sovereign Default Risk and Bank Fragility in Financially Integrated Economies

w16893 Carmen M. Reinhart
M. Belen Sbrancia

The Liquidation of Government Debt

w16847 Stephanie Schmitt-Grohé
Martin Uríbe

Pegs and Pain

w16831 Assaf Razin
Jackline Wahba

Free vs. Controlled Migration: Bilateral Country Study

w16828 Chadwick C. Curtis
Steven Lugauer
Nelson C. Mark

Demographic Patterns and Household Saving in China

w16827 Carmen M. Reinhart
Kenneth S. Rogoff

A Decade of Debt

w16815 Carmen M. Reinhart
Vincent Reinhart

Pride Goes Before a Fall: Federal Reserve Policy and Asset Markets

w16806 Andrei A. Levchenko
Jing Zhang

The Evolution of Comparative Advantage: Measurement and Welfare Implications

w16805 Nicolas E. Magud
Carmen M. Reinhart
Kenneth S. Rogoff

Capital Controls: Myth and Reality - A Portfolio Balance Approach

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

w16788 Qingyuan Du
Shang-Jin Wei

Sex Ratios and Exchange Rates

w16787 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession

w16782 Atish R. Ghosh
Jun I. Kim
Enrique G. Mendoza
Jonathan D. Ostry
Mahvash S. Qureshi

Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies

w16779 Joshua Aizenman
Gurnain Kaur Pasricha

Net Fiscal Stimulus During the Great Recession

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

w16760 Alberto Cavallo
Roberto Rigobon

The Distribution of the Size of Price Changes

w16757 Barry Eichengreen
Poonam Gupta

The Service Sector as India's Road to Economic Growth

w16754 Assaf Razin
Steven Rosefielde

Currency and Financial Crises of the 1990s and 2000s

w16726 Bernard Dumas
Karen K. Lewis
Emilio Osambela

Differences of Opinion and International Equity Markets

w16712 Harrison Hong
Motohiro Yogo

What Does Futures Market Interest Tell Us about the Macroeconomy and Asset Prices?

w16707 Olivier Coibion
Yuriy Gorodnichenko

Why Are Target Interest Rate Changes So Persistent?

w16677 Stephanie E. Curcuru
Charles P. Thomas
Francis E. Warnock
Jon Wongswan

U.S. International Equity Investment and Past and Prospective Returns

w16674 Martin S. Feldstein
The Role of Currency Realignments in Eliminating the US and China Current Account Imbalances

w16670 Assaf Razin
Efraim Sadka

Tax Competition and Migration: The Race-to-the-Bottom Hypothesis Revisited

w16667 Allan Drazen
Ethan Ilzetzki

Kosher Pork

w16666 Jonathan Eaton
Samuel Kortum
Brent Neiman
John Romalis

Trade and the Global Recession


Generated Tue Feb 14 00:00:45 2012

 
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