CURRICULUM VITAE

 

May, 2000

JACOB A. FRENKEL

Merrill Lynch, Chairman,

Sovereign Advisory Group and Global Financial Institutions Group

& Vice Chairman, Merrill Lynch International, Inc.

 

Address:             Merrill Lynch                                              Tel:                   +44-(0)20-7867-4710

                          Ropemaker Place, 10th Floor                            Fax:                  +44-(0)20-7867-3012

                           25 Ropemaker Street                                         E-mail:             jacob_frenkel@ml.com

                          London      EC2Y 9LY

                          United Kingdom

 

Date and Place of Birth: February 8, 1943, Tel‑Aviv, Israel

 

Marital Status: Married + two children

 

Academic Training:

1963‑65  Undergraduate studies, Economics and Political Science, Hebrew  University, Israel.

1966‑67  Graduate studies, Economics, Hebrew University, Israel.

1968‑70  Graduate studies, Economics, University of Chicago.

 

Degrees:

1966  BA, Economics and Political Science, Hebrew University, Israel.

1969  MA, Economics, University of Chicago.

1970  PhD, Economics, University of Chicago.

 

Positions:

1967 Maurice Falk Institute for Economic Research in Israel, Jerusalem, Israel.

1970-71 Assistant Professor of International Economics and Finance, Graduate School of Business, University of Chicago.

1971-73 Senior Lecturer in Economics, Department of Ecnomics, Tel Aviv University, Israel.

1972-73 Adjunct Senior Lecturer in Economics, Department of Economics, Hebrew University of Jerusalem, Israel.

1973-74 Assistant Professor, Department of Economics, University of Chicago.

1974-78 Associate Professor, Department of Economics, University of Chicago.

1979-82 Professor, Department of Economics, University of Chicago.

1982-90 David Rockefeller Professor of International Economics, Department of Economics, University of Chicago.

1980 Summer-Visiting Professor, Centro de Estudios Macroeconomicos de Argentina (CEMA), Buenos Aires, Argentina

1980 Fall-Visiting Professor, Department of Economics, Tel Aviv University, Israel.

1983 Fall-Visiting Professor, Department of Economics, Tel AvivUniversity, Israel.

1984 Summer-Visiting Professor, Advanced Studies in International Economic Policy.

1985 Summer-Visiting Professor, Department of Economics, Tel Aviv University, Israel.

1986 Summer-Visiting Professor, Advanced Studies in International Economic Policy Research, Institute fur Weltwirschaft, Kiel, Germany.

1987-91 Economic Counsellor and Director of Research, International Monetary Fund.

1991-94 Professor, Department of Economics, Tel Aviv University, Israel.

1994 - Weisfeld Professor of the Economics of Peace and International Relations, Berglas School of Economics, Tel Aviv University, Israel

1991-2000 Governor of the Bank of Israel. (Reappointed to second term in 1996).

2000 Chairman, Sovereign Advisory Group and Global Financial Institutions Group & Vice-Chairman, Merrill Lynch International, Inc.

 

 

Professional Activities, Honors and Decorations:

 

1975‑84 Editor, Journal of Political Economy.

1977‑84 Advisory Council Carnegie‑Rochester Conference Series on Public Policy.

1978‑84 Editorial Board, Journal of Monetary Economics.

1978 Research Associate, National Bureau of Economic Research.

1978 Fall‑‑Honorary Research Associate, Department of Economics, Harvard University.

1979 Member Program Committee, the Econometric Society.

1980 Advisor in Economics to Harvard University Press.

1980-87 Advisory Editor, Economics Letters.

1980 Guest Participant, the Securities Group International Monetary Advisory Board.

1980‑82 Member, National Science Foundation Economics Advisory Panel.

1981 Consultant‑‑The Bank of Israel.

1981 Consultant‑‑Argentine Bankers Association (ADEBA).

1981‑86 Consultant - The International Monetary Fund.

1981 Program Chairman, National Bureau of Economic Research Universitie’s Research Conference on Exchange Rates and International  Macroeconomics.

1981                                  Delivered the Henry Thornton Lecture, The City University, Centre for Banking , London.

1981                                  Member, Advisory Committee for the International Seminar on

1981-87 Macroeconomics (ISOM) Maison des Sciences de L’Homme and NBER.

1982‑ Fellow, The Econometric Society.

1983‑85 Fellow, Mortimer and Raymond Sackler Institute of Advanced Studies,Tel‑Aviv University, Israel.

1984-86 Consultant - The World Bank

1984-87 Member, Advisory Committee for Studies on Debts and Development and Trade Finance, United Nations, Commission for Latin America.

1984- Member, Advisory Committee, Institute for International Economics (IIE), Washington, D.C.

1985 Program Chairman National Bureau of Economic Research Universitie’s Research Conference on International Aspects of Fiscal Policies.

1985-90 Member, Editorial Advisory Board, The International Trade Journal.

1985-90 Board of Editors, Journal of International Economics and Economic Integration .

1985-88 Board of Editors, American Economic Review.

1986 Member, Editorial Advisory Board, Analisis Economics.

1986 Member program Committee, Annual Meetings of the American Economic Association.

1986 Delivered the Frank D. Graham Memorial Lecture, Princeton University.

1987-94 Member, Advisory Committee, Israel International Institute for Applied Economic Policy Review (III).

1987-94 Member Advisory Board, Journal of Economic Perspectives.

1988 Delivered the Harry G. Johnson Lecture, Oxford University.

1988 Delivered the Miguel Sidrauski Lecture, 8th Latin American Meeting of the Econometric Society, San Jose, Costa Rica.

1988-98 Member, Advisory Board, David Horowitz Institute for the Research of Developing Countries, Tel Aviv University, Israel.

1988- Member, Group of Thirty and Member of the Program Committee.

1989- Associate Editor, Journal of International Financial Markets, Institutions and Money.

1990- Honorary member of the Scientific Committee, Research Center, Bank  of France.

1990-95 Member, Executive Committee, Center for Economic Policy Research (CEPR), London, United Kingdom.

1991- Member, The G7 Council (G-7C) and Member of the Streeing and Program Committee.

1991 Delivered the L.K Jha Memorial Lecture, Reserve Bank of India, Bombay, India.

1991- Member, Academic Advisory Board, The Central European University (CEU), Prague.

1992 -96 Co-Chairman, Israeli Delegation Middle East, Multilateral Peace Talks on Regional Economic Delvelopment.

1992 Member, Advisory Board, World Economic Development Congress, Washington, D.C., U.S.A.

1992 - Member, Board of Governors, Ben Gurion University, Israel

1993-98 Member, Executive Committee, The Pinhas Sapir Centre for Development, Tel Aviv University, Israel.

1993- Distingushed Member, Advisory Committee, Institute for Global Economics (IGE), Seoul, Korea.

1993- Honorary President, Israel Association for Graduates in the Social Sciences and Humanities. (reappointed to second term, 1997).

1994 - Member, Board of Governors, The Academic College of Tel Aviv-Yaffo, Israel

1995-96 Chairman, Board of Governors, Inter-American Development Bank (IDB).

1996- Foreign Honorary Member of the American Academy of Arts and Sciences (AAAS).

1997 - Member, International Board of Governors, The Peres Center for Peace, Israel

1997 - Honorary Member, Japan Society of Monetary Economics (JSME).

1997 Karel Englis Prize in Economics, Prague, The Czech Republic.

1998 Recipient of the "Orden de mayo al Merito" (in the rank of Gran Cruz) Decoration from the Goverment of Argentina.

1998 Delivered the 21st Frank M. Engle Lecture in Economic Security, The American College.

1999 Member of the Executive Committee and Treasurer of the International Economic

                        Association (IEA).

1999 Delivered the 2nd Jacque de Larosiere Lecture, European Bank for Reconstruction and Development (EBRD).

1999-‏2000 Vice Chairman, Board of Governors, European Bank for Reconstruction and Development (EBRD).

1999       Doctor of Philosophy Honoris Causa from the University of Haifa, Israel

1999       Delivered the 1st Itzhak Modai Lecture, The Technion, Haifa, Israel

1999       Delivered the Aharon Katzir Memorial Lecture, Tel- Aviv‏ University and the Israeli Academy of Sciences.

1999       Member, Advisory Committee, Shmuel Neeman Institute for Advance Reserch Science and Technology.

1999          Member of the Board of the European Union/Israel Forum.

1999          Member- Friends Association of the Shaanan Teachers College, Haifa Israel.

1999                                  “Ot Hanagid” Merit Award , Shaare Zedek Medical Center, Jerusalem.

1999 Merit Award for Economic Leadership and Contributions to the Israeli Economy, The Industry and Commerce Club, Israel

1999 “YUVAL Dignitary” Decoration granted by Yuval, the Israeli Ansemble for Liturgy and Jewish Music.

1999Member of the Honorary Advisory Board,  Amutat "Shalom Beinenu"

2000       Merit Award for Contributions to the Israeli Economy, Chief Financial Officers Forum, Israel.

2000       Merit Award for Contributions to the State of Israel, the American Committee for Shaare Zedek Jerusalem Medical Center.

2000          Recipient of the Jerusalem-Fellow Decoration, the City of Jerusalem.

2000          Hugo Ramniceanu Prize in Economics, Tel-Aviv University, Israel.

2000                                  Doctor of Philosophy Honoris Causa from Ben-Gurion University, Israel.

 


Publications:

 

I.  BOOKS

 

The Economics of the Sector Owned by Organized Labor (et al. authors), Tel‑Aviv: Institute for Economic Research of the Histaudrut (Hebrew; original title: Meshek Haovdim), 1964.

 

Macroeconomics: Lecture Notes (ed. with A. Ofer), Tel‑Aviv: Mifal Hashichpul Hebrew University, Tel‑Aviv branch (Hebrew), 1965.

 

The Monetary Approach to the Balance of Payments (ed. with H.G. Johnson), London: Allen & Unwin, and Toronto: University of Toronto Press, 1976. Paperback edition, 1977.

 

The Economics of Exchange Rates: Selected Studies (ed. with H.G. Johnson), Reading, MA: Addison‑Wesley, 1978.  Paperback edition, 1978.

 

International Economic Policy: Theory and Evidence (ed. with R. Dornbusch), Baltimore, Maryland: Johns Hopkins University Press, 1979.  Paperback edition, 1979.

 

Exchange Rates and International Macroeconomics (ed.), Chicago, IL: University of Chicago Press, 1983.  Paperback edition 1986.

 

The World Economic System: Performance and Prospects (ed. with M. Mussa), Dover, MA: Huburn House Publishing Company, 1984.

 

Fiscal Policies and the World Economy (with A. Razin), Cambridge, MA: MIT Press, 1987. Paperback edition, 1988; Revised Japanese edition, 1991. Second edition, 1992. Revised Spanish edition appeared as La Politica Fiscal y la Economica Mundial, Alianza Editorial, Madrid. 1992.

 

International Aspects of Fiscal Policies (ed.), Chicago, IL: University of Chicago Press, 1988.

 

Analytical Issues in Debt (ed. with M. Dooley and P. Wickham), Washington, D.C.: International Monetary Fund, 1989.

 

Macroeconomic Policies in an Interdependent World (ed. with R. Bryant, D. Currie, P. Masson, and R. Portes), Washington, D.C.: International  Monetary Fund, 1989.

 

International Policy Coordination and Exchange Rate Fluctuations (ed. with W. Branson and M. Goldstein), Chicago, IL: University of Chicago Press, 1990.

 

International Financial Policy: Essays in Honor of Jacques J. Polak (ed. with M. Goldstein), Washington, D.C.: International Monetary Fund and De Nederlandsche Bank, l99l.

 

International Taxation in an Integrated World (with A. Razin and E. Sadka), Cambridge, MA: MIT Press, 1991.

 

The International Monetary System: Key Analytical Issues (ed. with M. Goldstein), 2 Volumes, Washington, D.C.: International Monetary Fund , 1996.

 

Fiscal Policies and Growth in the World Economy, third edition, (with A. Razin and C. Yuen) MIT Press, 1996.

 

Optimum Currency Areas: New Analytical and Policy Developments (ed. with M. Blejer, L. Leiderman and A. Razin), Washington D.C.: International Monetary Fund, 1997.

 

Economic Stablization and Transformation in the Era of Globalization,  The 1997 Karel Englis Prize, Brno, Masaryk University, 1999.

 

 


II.  ARTICLES

 

       1.       "The Theoretical Implications of the Assumptions Used by the Institute for the Study of Incomes and Productivity," Manuscript, Hebrew University of  Jerusalem, 1967 (Hebrew).

 

       2.       "Hume's Price Specie Flow and the Distribution of Wealth in the World Economy,"  Center For Mathematical Studies in Business and Economics,University of Chicago, Report No. 7062, December 1970.

 

       3.       "Capital Mobility, Wealth Effects and Macroeconomic Policy," presented at the Chicago Symposium on Trade, Growth and the Balance of Payments, University of Chicago, December 1970.

 

       4.       "A Theory of Money, Trade and the Balance of Payments in a Model of Accumulation,"  Journal of International Economics I, No. 2, May 1971.

 

       5.       "On Domestic Demand and Ability to Export," Journal of Political Economy 79, No. 3, May/June l97l.

 

       6.       “Notes on Assets and Debt‑Service in an Open Economy" (with R. Dornbusch), Center for Mathematical Studies in Business and Economics, University of Chicago, Report No. 7113, May 1971.

 

       7.        Aspects of Adjustment Policies and Mechanisms During the 1847 Crisis  in Britain" (with R.    Dornbusch), Economic History Workshop, University of Chicago, Report No. 7172‑3, October 1971.

 

       8.       "International Capital Movements along Balance Growth Paths: Comments and Extentions" (with S. Fischer), Economic Record XLVIII, June 1972.

 

       9.       "The Nature of the Equilibrium of the Interest Parity Theory," Kyklos XXV. No. 2, 1972.

 

     10.     "Regulation and Excess Demand: A General Equilibrium Approach" (with P. Pashigian),      Journal of Business 45, July 1972.

 

     11.     "Tariffs, Subsidies and Community Indifference Curves," Southern Economic Journal  XXXIX, No. 1, July 1972.

 

     12.     "Investment, the Two‑Sector Model and Trade in Debt and Capital Goods"  (with S. Fischer), Journal of International Economics II, No. 3, August 1972. Reprinted in J. Bhagwati (ed.) International Trade: Selected Readings, Cambridge, MA: MIT Press, 1981, second edition, 1987.

 

13.          "Money Wealth and the Balance of Payments in a Model of Accumulation," Abstract of doctoral dissertation, Journal of Finance XXVII, No. 5, December 1972.

 

14.          "Inflation and Economic Growth: Alternative Approaches" (with R.Dornbusch), Journal of  Money, Credit and Banking V, No. 1, Part I, February 1973.

 

15.          "Elasticities and the Interest Parity Theory," Journal of Political Economy 81, No. 3, May/June 1973.

 

16.          "The International Monetary System and the Role of the Dollar," The Economics Quarterly No. 77, Am Oved, Tel-Aviv, April 1973, Pp. 76-83 (Hebrew).

 

17.          "Economic Growth and Stages of the Balance of Payments: A Theoretical Model" (with S. Fischer), in G. Horwich and P.A. Samuelson (eds.), Trade Stability and Macroeconomics: Essays in Honour of L.A. Metzler, New York: Academic Press, 1974.

 

18.          "Openness and the Demand for International Reserves," in R.Z. Aliber (ed.), National Monetary Policies and the International Financial System, University of Chicago Press, 1974.

 

19.          "The Demand for International Reserves by Developed and Less‑Developed Countries," Economica 41, No. 161, February 1974.Reprinted in theUSIA Economic Portfolio.

 

20.          "Non‑Traded Goods and Immiserizing Growth" (with A. Razin), Economic Record 50, No. 130, June 1974.

 

21.          "Interest Rate Equalization and Patterns of Production Trade and Consumption in a Two‑Country Growth Model" (with S. Fischer), Economic Record 50, December 1974. "Errata," Economic Record 51, September 1975.

 

22.          "Variable Factor Supplies and the Production Possibility Frontier"  (with A. Razin), Southern Economic Journal 41, No. 3, January 1975.

 

23.          "More on Tariffs vs. Subsidies," Kyklos XXVIII, Fasc. 1, 1975.

 

24.          "Covered Interest Arbitrage: Unexploited Profits?" (with R. Levich),  Journal of  Political  Economy 83, No. 2, April 1975.  Reprinted in R. MacDonald and M. Taylor (eds.) Exchange Rate Economics, Vol. II, London: Edward Edgar Publishing Limited, 1992.

 

25.          "Comments on the Phenomenon of Worldwide Inflation: A Study in Interna­- tional Market Integra­tion," in D.I. Meiselman and A.B. Laffer (ed.) The Phenomenon of Worldwide Inflation, American Enterprise Institute,    Washingt­on, D.C., 1975.

 

26.          "Wealth Effects and the Dynamics of Inflation," (with C. Rodriguez),  Journal of Money, Credit and Banking VII, No. 2, May 1975.

 

27.          "Reflections on European Monetary Integration," WeltwirtschaftlichesArchive 111, No. 2, 1975.Reprinted in UMBC Economic Review XI, No.2, 1975 and in Business Standard, Calcutta, Annual, 1981.

 

28.          "Portfolio Equilibrium and the Balance of Payments: A Monetary Approach" (with C. Rodriguez), American Economic Review LXV, No. 4, September 1975.  Reprinted in the USIA Economic Portfolio.  A Spanish translation appeared as "Equilibrio en la Seleccion de Activos y Balanza de Pagos: Un Enfoque Monetario," Revista Espanola deEconomica VI, No. 3, September/December 1976.

 

29.          "Inflation and the Formation of Expectations," Journal of Monetary Economics 1, No. 4, October 1975.

 

30.          "Inflationary Expectations and Some Dynamic Aspects of the Welfare   Cost," in M. Parkin and G. Zis (eds.), Inflation in the World Economy, Manchester:  Manchester University Press, 1976.

 

31.          "Adjustment Mechanisms and the Monetary Approach to the Balance of Payments:  A Doctrinal Perspective," in E. Claassen and P. Salin (eds.), Recent Issues in International Monetary Economics, Amsterdam: North‑Holland, 1976.

 

32.           "Preface" (with H.G. Johnson) in J.A. Frenkel and H.G. Johnson (eds.), The Monetary Approach to the Balance of Payments, London: Allen & Unwin and Toronto: University of Toronto Press, 1976.

 

33.           "The Monetary Approach to the Balance of Payments: Essential Concepts and Historical Origins," (with H.G. Johnson) in J.A. Frenkel and H.G. Johnson (eds.), The Monetary Approach to the Balance of Payments, London: Allen & Unwin and Toronto: University of Toronto Press, 1976.

 

34.           "A Dynamic Analysis of the Balance of Payments in a Model of  Accumulation," in J.A. Frenkel and H.G. Johnson (eds.), The Monetary Approach to the Balance of Payments, London: Allen & Unwin and Toronto: University of Toronto Press, 1976.

 

35.           "Some Dynamic Aspects of the Welfare Cost of Inflationary Finance," in R.I. McKinnon (ed.), Money and Finance in Economic Growth, Essays in Honor of E.S. Shaw, New York: Marcel Dekker, Inc., 1976 [a modified version of (30) above].

 

36.           "An Analysis of the Conditions Necessary for a Return to Greater Fixity of Exchange Rates," Report for the Department of State, U.S. Government, Contract No. 1722‑520100, April 1977.

 

37.           "A Monetary Approach to the Exchange Rate: Doctrinal Aspects and Empirical Evidence," Scandinavian Journal of Economics 78, No. 2, May 1976.  Reprinted in J. Herin, A. Lindbeck and J. Myhrman (eds.), Flexible Exchange Rates and Stabilization Policy, London: Macmillan and Boulder: Westview Bros., 1977.  Also reprinted in J.A. Frenkel  and H.G. Johnson (eds.), The Economics of Exchange Rates: Selected Studies, Reading, MA: Addison‑Wesley, 1978, and in D.R. Lessard  (ed.), International Financial Management: Theory and Application, New York: Warren, Gorham and Lamont, 1979.  An Italian translation appeared as "Un Approccio Monetario al Tasso di Cambio: Aspecti    Theorici ed Evidenza Empiricia'" in Cohen, Remi and Giavazzi, Francesco (eds.), La Fluttuazione del Cambi: Modelli Theorici e Regolarita Empiriche, Milano: Etas Libri, 1982.  Reprinted in R. MacDonald and M. Taylor (eds.) Exchange Rate Economics, Vol. I, London: Edward Edgar Publishing Limited, 1992.

 

38.           "The Forward Exchange Rate, Expectations and the Demand for Money: The German Hyperinflation," American Economic Review 67, No. 4, September 1977. 

 

39.           "Notes on Output and Expectations in the Process of Inflation," (with C. Rodriguez), Weltwirtschaftliches Archiv 113, No. 3, September 1977.

 

40.           "Transaction Costs and Interest Arbitrage: Tranquil versus Turbulent Periods," (with R. Levich), Journal of Political Economy 85, No. 6 December 1977.  Reprinted in the USIA Economic Portfolio.  Also reprinted in D.R. Lessard (ed.), International Financial Management:   Theory and Application, New York: Warren, Gorham and Lamont, 1979. This is a condensed and revised version of an earlier paper with the same title which appears in Proceedings of the Seminar on the Analysis of Security Prices, Center for Research in Security Prices, Graduate School of Business, University of Chicago, May 1976. Reprinted in R. MacDonald and M. Taylor (eds.) Exchange Rate Economics, Vol. II, London: Edward Edgar Publishing Limited, 1992.

 

41.           "Comments on International Exchange Rates and the Macroeconomics of  Open‑Economies," presented at the American Economic Association meetings, New York, December 1977.

 

42.           "Some Personal Memories of Harry G. Johnson," presented at the Harry G. Johnson Memorial Service, University of Chicago, February 1978.

 

43.           "Purchasing Power Parity: Doctrinal Perspective and Empirical Evidence from the 1920's,"  Journal of International Economics 8, No. 2, May 1978. Reprinted in R. MacDonald and M.Taylor (eds.), Exchange Rate   Economics, Vol. II, London: Edward Elgar Publishing Limited, 1992.

 

44.           "International Exchange Rates and Macroeconomics of Open Economies: Discussion," American Economic Review 68, No. 2, May 1978.

 

45.           "Preface," in J.A. Frenkel and H.G. Johnson (eds.), The Economics of Exchange Rates: Selected Studies, Reading, MA: Addison‑Wesley, 1978.

 

46.           "International Reserves: Pegged Exchange Rates and Managed Float," in  K. Brunner and A.H. Meltzer (eds.), Economic Policies in Open Economies, Vol. 9 of the Carnegie‑Rochester Conference Series on Public Policy, a Supplementary Series to the Journal of Monetary Economics, 1978.

 

47.           "`New Cambridge' Macroeconomics and Global Monetarism: A Comment," in K. Brunner and A.H. Meltzer (eds.), Economic Policies in Open Economies, Vol  9. of the Carnegie‑Rochester Conference Series on Public Policy, a Supplementary Series to the Journal of Monetary Economics, 1978.

 

48.           "Alternative Approaches to International Surveillance of Exchange Rate Policies: Discussion," in Managed Exchange‑Rate Flexibility: The Recent Experience, Conference Series No. 20, Federal Reserve Bank of  Boston, 1978.

 

49.           "Further Evidence on Expectations and the Demand for Money During the German Hyperinflation," Journal of Monetary Economics 5, No. 1, February 1979.  Abstract in NBER Reporter, Winter 1978.

 

50.           "Covered Interest Arbitrage and Unexploited Profits: Reply," (with R. Levich), Journal of Political Economy 87, No. 2, May 1979.

 

51.          "Transaction Costs and the Efficiency of International Capital Markets: Tranquil versus Turbulent Periods," (with R. Levich), in K. Brunner and J.J.M. Neumann (eds.), Inflation, Unemployment and Monetary Policy 1973‑76, Berlin: Duncker and Humblot, supplement to Kredit und Kapital, Heft 5, 1979.  [A modified version of (40) above.]  Also reprinted in Giorgio Szego and Marshall Sarnat (eds.), International Finance and Trade, Vol. I, Cambridge, MA: Ballinger, 1979.

 

52.           "Comments on Exchange Rate Flexibility and Currency Areas," in E.M. Claassen and P. Salin (eds.), Exchange Rate Regimes and Currency Areas Zeitschrift fur Wirtschafts und zialwissenschaften 99, Heft 1/2, 1979.

 

53.           "Chicago's Contribution to International Monetary Economics,"manuscript, University of Chicago, May 1979.

 

54.           "Preface" (with R. Dornbusch) in R. Dornbusch and J.A. Frenkel (eds.), International Economic Policy: Theory and Evidence, Baltimore, Maryland: Johns Hopkins University Press, 1979.

 

55.           "Dynamic Adjustment and the Demand for International Reserves," (with J.F.O. Bilson), NBER, Working Paper Series, No. 497, 1979.

 

56.           "International Reserves: Adjustment Dynamics" (with J.F.O. Bilson),  Economics Letters 4, No. 3, 1979.

 

57.           "Efficiency and Volatility of Exchange Rates and Prices in the 1970's," The Columbia Journal of World Business 14, No. 4, Winter 1979.

 

58.           "The Demand for International Reserves Under Pegged and Flexible Exchange Rate Regimes and Aspects of the Economics of Managed Float,"in H. Frisch and Schwodianer (eds.), The Economics of Flexible Exchange Rates, Berlin: Duncker and Humblot, supplement to Kredit und Kapital, Heft 6, 1980.  Also reprinted in D. Bigman and T. Taya (eds.), The Functioning of Flexible Exchange Rates: Theory Evidence and Policy Implications, Cambridge, MA:  Ballinger, 1980, and in D.Bigman and T. Taya (eds.), Floating Exchange Rates and the State of World Trade and Payments, Cambridge, MA: Ballinger, 1984.  Abstract  in NBER Reporter, Winter 1980.

 

59.           "Harry G. Johnson" (with Jagdish N. Bhagwati), InternationalEncyclopedia of the Social Science‑‑Biographical Supplement, New York: The Free Press, 1980.

 

60.           "International Reserves Under Pegged Exchange Rates and Managed Float: Corrections and Extentions," Journal of Monetary Economics 6, No. 2, April 1980. "Erratum" Journal of Monetary Economics 6, No. 4, October 1980.

 

61.           "The Efficiency of Foreign Exchange Markets and Measures of  Turbulence," (with M. Mussa), American Economic Review 70, No. 2, May  1980.  Reprinted in Commodity Journal, 16, No. 5, July/August 1981. Also reprinted in USIA Economic Portfolio.  A Spanish translation  appeared as "Eficiencia de los mercados de divisas y medidas de inestabilidad cambiara," Cuadernos Economicos de ICE Publicados por informacion comercial Espanola, No. 19, 1982.

 

62.           "Exchange Rates, Prices and Money: Lessons from the 1920's," American Economic Review 70, No. 2, May 1980.  Abstract in NBER Reporter, Spring 1980.

 

63.           "Exchange Rates, Money and Relative Prices:  The Dollar‑Pound in the 1920's,"  (with K.W. Clements), Journal of International Economics  10, No. 2, May 1980.  Abstract in NBER Reporter, Spring 1980.

 

64.           "Flexible Exchange Rates in the 1970's," in Stabilization Policy: Lessons from the 1970's and Implications for the 1980's, St. Louis,  Missouri: Federal Reserve Bank of St. Louis and the Center for the Study of American Business Washington University, 1980. [An extended  version of (57) above.]  Abstract in NBER Reporter, spring 1980.

 

65.           "On Transactions and Precautionary Demand for Money," (with B. Jovanovic), Quarterly Journal of Economics 94, No. 3, August 1980. Abstract in NBER Reporter, winter 1980.

 

66.           "The Forward Exchange Rate, Expectations, and the Demand for Money‑‑The German Hyperinflation: Reply," American Economic Review 70, No. 4, September 1980.

 

67.           "A Synthesis of `Monetary' and `Keynesian' Approaches to Short‑Run Balance of Payments Theory," (with T. Gylfason and J.F. Helliwell),  The Economic Journal 89, September 1980.

 

68.           "Monetary Policy‑‑Goals and Conduct for the 1980'," Statement before  the Subcommittee on Domestic Monetary Policy and the Subcommittee on  International Trade, Investment and Monetary Policy of the Committee on Banking, Finance and Urban Affairs, United States House of Represen­tatives. Ninety‑­sixth Congress, First session. Serial No.96‑38, U.S. Government Printing Office, Washingt­on, 1980.

 

69.           "Economic Theory and IMF Policies: A Comment," in K. Brunner and A.H. Meltzer (eds.), Monetary Institutions and the Policy Process, Vol. 13 of the Carnegie‑Rochester Conference Series on Public Policy, a  Supplementary Series to the Journal of Monetary Economics, 1980.

 

70.           "The Fluctuating U.S. Dollar: Causes, Consequences and Policy Implications,"  in Issues in Monetary Policy: Three Financial Forums, Salomon Brothers Center for the Study of Financial Institutions, New York University, Occasional Paper No. 3, 1980.

 

71.           "Un Analisis de las Propiedades Dinamicas Del Tipo De Cambio Flexible,"(with C.A. Rodriguez), Centro deo Estudios Macroeconomics de Argentina, Buenos Aires, 1980.  Reprinted in Economica 28, No. 1‑2,  January‑August, 1982.

 

72.           "Country Specific and Time‑Specific Factors in the Demand for International Reserves," (with C.S. Hakkio), Economics Letters 5, No. 1, 1980.

 

73.           "Stochastic Prices and Tests of Efficiency of Foreign Exchange Markets," (with A. Razin), Economics Letters 6, No. 2, 1980.

 

74.          "Who is Afraid of Flexible Exchange Rates?" Ksafim, the Israeli Economics Weekly 25,December 1980 (Hebrew).  Reprinted as Chapter 9 in Razin, Assaf (ed.) Economists on Economics, Tel‑Aviv: amot Press,  1985.

 

75.           "The Collapse of Purchasing Power Parities in the 1970's", European Economic Review 16, No. 1, May 1981.

 

76.           "Monetary and Fiscal Policies in an Open Economy," (with M. Mussa), American Economic Review 71, No. 2, May 1981.  Reprinted in Commodity Journal 16, No. 7, November/December 1981.

 

77.          "Optimal International Reserves: A Stochastic Framework," (with B. Jovanovic), The Economic Journal 90, June 1981.

 

78.          "Flexible Exchange Rates, Prices and the Role of `News': Lessons from  the 1970's," Journal of Political Economy 89, No. 4, August 1981. Reprinted in R. Batchelor and G.E. Wood (eds.), Exchange Rate Policy, London: Macmillan, 1982.  A condensed version is reprinted in J.S. Bhandari and B.H. Putman (eds.), Economic Interdependence and Flexible Exchange Rates, Cambridge, MA: MIT Press, 1983, and in D.RLessard (ed.) International Financial Management: Theory and Applications, second edition New York, N.Y.: John Wiley and Co., 1985.  Reprinted in R. MacDonald and M. Taylor (eds.) Exchange Rate Economics, Vol. I, London: Edward Elgar Publishing Limited, 1992.

 

79.          "Covered Interest Arbitrage in the 1970's" (with R.M. Levich), Economics Letters 8, No. 3, 1981.

 

80.          "Adjustment Lags versus Information Lags: A Test of Alternative Explanations of the Phillips Curve Phenomenon: A Comment," Journal of Money, Credit and Banking, 13, No. 4, November 1981.

 

81.           "Explanations of Exchange‑Rate Volatility and Other Regularities in Some Popular Models of the Foreign Exchange Market: A Comment," in K.Brunner and A.H. Meltzer (eds.), The Costs and Consequences of Inflation Vol. 15 of the Carnegie‑Rochester Conference Series on Public Policy, a Supplementary Series to the Journal of Monetary Economics, 1981.

 

82.           "The Morning After," Ksafim, the Israeli Economics Weekly 55, July 1981 (Hebrew).

 

83.           "Recent Issues Arising From the Current Inflation in Israel'" (with S.Fischer), report prepared for the Bank of Israel, 1981.

 

84.           "Stabilization Policy in Israel," (with S. Fischer), report prepared for the Bank of Israel, 1981.Hebrew translation appeared in Economics Quarterly 29, No. 114, September 1982.

 

85.           "Macro‑Economic Policy in an Open Economy," in Estudios Monetarios VII: Alternativas De Politicas Financieras en Economias Pequenas Y Aoiertas al Exterior, Santiago: Direcion de Politica Financiera, Banco Central de Chile, 1981

 

86.           "Reply to Comments," in Estudios Monetarios VII: Alternativas De Politicas Financieras en Economias Pequenas Y Aoiertas al Exterior, Santiago: Drecion de Politica Financiera, Banco Central de Chile, 1981.

 

87.           "Comments on Indicators of Performance in Monetary Policy in OpenEconomies: The Historical Record" in Estudios Monetarios VII: Alternativas De Politicas Financieras en Economias Pequenas Y Aoiertas al Exterior, Santiago: Direcion de Politica Financiera, Banco Central de Chile, 1981.

 

88.           "Exchange Rates in the 1920's: A Monetary Approach," (with K.WClements), in M.J. Flanders and A. Razin (eds.), Development in an Inflationary World, New York: Academic Press, 1982. Abstract in NBER Reporter, winter 1978.

 

89.           "Exchange Rate Dynamics and the Overshooting Hypothesis," (with C. Rodriguez), IMF, Staff Papers 29, No. 1, March 1982.

 

90.          "Comments on Domestic and Foreign Expectations and the Demand for Money During the German Inflation 1920‑1923," in C.P. Kindelberger and J.P. Laffargue (eds.), Financial Crisis: Theory, History, and Policy, NewYork:  Cambridge University Press, 1982.

 

91.          "Comments on Exchange Rate Volatility and Purchasing Power Parities," in J. Dreyer, G. Haberler and T. Willett (eds.), The InternationalMonetary System: A Time of Turbulence, American Enterprise Institute for Public Policy Research, Washington, D.C., 1982.

 

92.           "Comments on Relative Price Variability and Inflation in the UnitedStates and Germany," European Economic Review 18, No. 1/2, May/June 1982.

 

93.           "A Note on Money and Prices in Cassel's PPP Theory," History of Political Economy 14, No. 2, Summer 1982.

 

94.           "Aspects of the Optimal Management of Exchange Rates," (with J.Aizenman) Journal of International Economics 13, November 1982. Reprinted in M. Connolly (ed.), The International Monetary System: Choices For the Future, New York: Praeger, 1982.  Also reprinted inE. Claassen and P. Salin (eds.), Recent Issues in the Theory of Flexible Exchange Rates, Amsterdam: North Holland, 1983.

 

95.           "Turbulence in the Market for Foreign Exchange and Macroeconomic Policies, The Henry Thornton Lecture, The City University, Centre for Banking and International Finance, London, England 1982. Reprinted in a revised and abridged form in D. Bigman and T. Taya (eds.), Exchange Rate and Trade Instability: Causes, Consequences and Remedies, Cambridge, MA: Ballinger, 1983.  Reprinted in L Melamed (ed.) The Merits of Flexible Exchange Rates: An Anthology, Blacksburg, VA: George Mason University  Press, 1988.  Reprinted in Capie and G.E. Wood (eds.) Monetary Economics in the 1980s: The Henry Thornton Lectures Numbers 1-8, London: Macmillam, 1989.

 

96.          "The Order of Economic Liberalization: Lessons from Chile and Argentina: A Comment," in K. Brunner and A.H. Meltzer (eds.), Economic Policy in a Changing World Vol. 17 of the Carnegie‑Rochester Conference Series on Public Policy, a supplementary series to the Journal of Monetary Economics, 1982.

 

97.           "U.S. Inflation and the Dollar" in Robert E. Hall (ed.), Inflation: Causes and Consequences, Chicago, IL: University of Chicago Press, 1982. A Summary is included in the NBER Summary Report: Conferences on Inflation, 1982.

 

98.          "Exchange Rates and Prices: Lessons from the 1920's and the 1970's,"The Lehrman Institute Seminar Series, March 1982.

 

99.           "The Fluctuating U.S. Dollar: Causes, Consequences, and Policy Implications," The Third Annual NBER 1981 Research Conference; a summary, appears in the NBER 1981 Research Conference: A Summary,Cambridge, MA:  National Bureau of Economic Research, 1982.

 

100.       "Comments on `The Franc'" also appearing in French as "Commentaire `A Propos du Franc'," Annales de l'INSEE, 47, 48, July‑December, 1982 Reprinted in J. Melitz and C. Wyplosz (eds.) The French Economy Theory and Policy, Boulder, CO: Westview Press, 1985.

 

101.            "Roundtable Discussion" also appearing in French as "Table Ronde," Annales de l'INSEE,      47, 48, July‑December, 1982.  Reprinted in J Melitz and C. Wyplosz (eds.) The French      Economy Theory and Practice, Boulder, CO: Westview Press, 1985.

 

102.       "Interest Rates, Exchange Rates and the Emerging Strength of the U.S. Dollar," The Lehrman Institute Seminar Series, October 1982.

 

103.       From Rambouillet to Versailles: A Symposium (with F. Bergston, R. Dornbusch, S. Kolhagen, L. Spavente and T. Willett), Essays in International Finance, No. 149, Princeton, NJ: Princeton University, International Finance Section, December 1982.  Reprinted as "Reflections on Versailles" in Consensus, A Journal of Strategic and International Affairs 1, No. 1, Winter 1983.

 

104.       "Comments on Exchange Risk and the Macroeconomics of Exchange Rate Determination," in      R. Hawkins, R.M. Levich and C. Wihlborg (eds.) Internationalization of Financial Markets and National Economic Policy, Greenwich, CT: JAI Press, 1983.

 

105.       "Comments on Capital Mobility and the Scope for Sterilization: Mexico in the 1970's," in P. Aspe, R. Dornbusch and M. Obstfeld (eds.), Financial Policies and the World Capital Market: The Problem of Latin American Countries, Chicago, IL: University of Chicago Press, 1983.

 

106.       "Comments on Exchange Rate Regimes and U.S. ‑ European Policy Inter-dependence," IMF Staff Papers 30, No. 1, March 1983. Reprinted in A.W. Hooke (ed.) Exchange Rate Regimes and Policy Interdependence, W­ashington, D.C.: International Monetary Fund, 1983.

 

107.       "Panel Discussion on Southern Cone," IMF Staff Papers 30, No. 1, March  Reprinted in A.W. Hooke (ed.) Exchange Rate Regimes and Policy Interdependence, Washington, D.C.: International Monetary Fund, 1983.

 

108.       "Comments on Exchange Rates, Inflation and the Sterilization Problem: German 1975‑81," European Economic Review 21, No. 1/2, March/April 1983.

 

109.       "Preface" in Jacob A. Frenkel (ed.) Exchange Rates and International Macroeconomics, Chicago, IL:  University of Chicago Press, 1983.

 

110.       "An Introduction to Exchange Rates and International Macroeconomics," in Jacob A. Frenkel (ed.) Exchange Rates and International Macroeconomics, Chicago, IL:  University of Chicago Press, 1983.

 

111.       "Monetary Policy: Domestic Targets and International Constraints,"American Economic Review 73, No. 2, May 1983.

 

112.       "Testimony on International Monetary Arrangements", House of Commons, Fourth Report from the Treasury and Civil Service Committee, Session 1982‑83, Volume II, Minutes of Evidence, Wednesday, 5 January, 1983, London, Her Majesty's Stationary Office.

 

113.       "International Liquidity and Monetary Control," in von Furstenberg, George M. (ed.) International Money and Credit: The Policy Roles, Washington, D.C.: International Monetary Fund, 1983.  Reprinted in Kaushik, S.K. (ed.) International Banking and Global Financing, New York, NY: Institute of International Banking, Lubin School of Business, Pace University, 1983.

 

114.       "Wage Indexation and the Optimal Exchange Rate Regime" (with J.Aizenman), NBER Summer Institute, August 1983.

 

115.       "Dollarization: The Dangerous Dream That Almost Came True" (with A. Razin), Yediot Aharonot, October 18, 1983, (Hebrew). Reprinted as Chapter 2 in Razin, Assaf (ed.) Economists on Economics, Tel‑Aviv:  Ramot Press, 1985.

 

116.       "Unlinked Bonds: A Positive Step Towards Shekelization" Yediot Aharonot, December 20, 1983, (Hebrew).  Reprinted as Chapter 3 in Razin, Assaf (ed.) Economists on Economics, Tel‑Aviv: Ramot Press, 1985.

 

117.       "Good and Bad Fixing, Good and Bad Flexing" in Kemp, Jack and Robert A. Mundell (eds.) A Monetary Agenda For World Growth, Boston: Quantum, 1983.

 

118.       "Economic Liberalization and Stabilization Programs," in N. Ardito Barletta, M. Blejer and L. Landau (eds.) Economic Liberaliza of the Monetary Approach to the Balance of Payments, Washington, D.C.:  The World Bank, 1983.

 

 

 

119.       "The Gold Standard Crisis of 1847," (with R. Dornbusch), Journal of International Economics 16, No. 1/2, February, 1984.  An extended version of this paper appears as "The Gold Standard and the Bank of England in the Crisis of 1847," in Michael Bordo and Anna Schwartz (eds.) A Retrospec­tive on the Gold Standard, 1821‑1931, Chicago, IL University of Chicago Press, 1984.

 

120.       "Comments on the Theory of Exchange Rate Determination," in John F.O. Bilson and Richard Marston (eds.), Exchange Rate Theory and Policy, Chicago, IL:  University of Chicago Press, 1984.

 

121.       "Comments on the Operation and Maintenance of a Flexible Exchange, Multiple Reserve Currency System," in T. Agmon, R.G. Hawkins, and R.M. Levich, (eds.) The Future of the International Monetary System, Lexington, MA:  D.C. Heath & Company, 1984.

 

122.       "Introduction" (with M. Mussa) in Jacob A. Frenkel and Michael Mussa (eds.), The World Economic System: Performance and Prospects, Dover, MA: Huburn House Publishing Co., 1984.

 

123.       "Capital Mobility and Exchange Rate Overshooting" (with J.S. Bhandari and R. Driskill), European Economic Review 24, No. 3, April 1984.

 

124.       "Comments on `Does Devaluation Improve the Current Account?'," European Economic Review 25, No. 1, June 1984.

 

125.       "Comments on the Economy of Israel" in K. Brunner and A.H. Meltzer (eds.) Monetary and Fiscal Policy and Their Application, Vol. 20 of the Carnegie‑Rochester Conference Series on Public Policy, a supplementary series to the Journal of Monetary Economics, Spring

 

 

126.       "Flexible Exchange Rates: The State of Research and Implications for Macroeconomic Policy," in Symposium on Floating Exchange Rates In An  Interdependent World, United States General Accounting Office, Washington, D.C., GAO/NSIAD‑84‑68A, 1984.

 

127.       "Comments on Exchange Rate Arrangements in the `Eighties'" in The International Monetary System: Forty Years After Bretton Woods, Federal Reserve Bank of Boston, 1984.  A slightly modified version is reprinted under the title "The Exchange Rate System: If It Ain't              Broke Don't Fix It" as Appendix 4 in The Strong Dollar: Causes, Consequences and Policy Implications.  Proceedings of a Conference co‑sponsored by the Joint Economic Committee, Congress of the United States and the Congressional Research Service, Library of Congress,           99th Congress, 1st Session, Serial No. 99‑100, U.S. Government Printing Office, Washington, D.C.: 1985.

 

128.       "Asset Markets, Exchange Rates and the Balance of Payments", (with M. Mussa) in R.W. Jones and P.B. Kenen (eds), Handbook of International Economics, Vol. II Amsterdam: North‑Holland and New York: Elsevier Science Publication Co. Inc., 1985.

 

129.       "Fiscal Expenditures and International Economic Interdependence" (with A. Razin) in Willem Buiter and Richard C. Marston (eds.) International Economic Policy Coordination, Cambridge: Cambridge University Press, 1985. This is a revision of "Fiscal Policies, Debt and International Economic Interdependence" (with A. Razin), NBER Working Paper Series, No. 1266, January 1984; also printed by The Mortimer and Raymond Sackler Institute of Advanced Studies, Tel‑Aviv University, Israel, IAS 813‑84.

 

130.       "On The Tradeoff Between Wage Indexation and Foreign Exchange Intervention" (with J. Aizenman), Weltwirtschaftliches Archiv, 121, No. 1, 1985.

 

131.       "Optimal Wage Indexation, Foreign Exchange Intervention and Monetary Policy" (with J. Aizenman), American Economic Review 75, No. 3, June 1985.

 

132.       "A Note on `the Good Fix' and `the Bad Fix'" European Economic Review, 28 No. 1‑2, June‑July 1985.

 

133.       "Comments on `Fiscal Policy and Exchange Rate in the Big Seven: Transmission of U.S. Government Spending Shocks'," European Economic Review 28, No. 1‑2, June‑July 1985.

 

134.       "Comments on Inflation and Indexation in Israel" in John Williamson (ed.) Inflation and Indexation: Argentina, Brazil and Israel, Washington, D.C.:Institute for International Economics and  Cambridge MA: MIT Press 1985.

 

135.       "Real and Nominal Exchange Rates, Fiscal Policies and the Wage Structure" (with J. Aizenman).  Presented at a conference on "The Foreign‑Exchange Rate in Inflation and Stabilization," The Hebrew University of Jerusalem, Israel, June 1985.

 

136.       "Government Spending, Debt and International Economic Interdependence" (with A. Razin), The Economic Journal 95, September 1985."Errata," The Economic Journal 96, September 1986.

 

137.       "The Causes of the Strong Dollar" in The Strong Dollar: Causes Consequences and Policy Implications.  Proceedings of a Conference co‑sponsored by the Joint Economic Committee, Congress of the United States and the Congressional Research Service, Library of Congress,           99th Congress, 1st Session, Session, Serial No. 99‑100, U.S. Government Printing Office, Washington, D.C., 1985.

 

138.       "Commentary on Causes of Appreciation and Volatility of the Dollar" in The U.S. Dollar ‑ Recent Developments, Outlook, and Policy Options. A symposium sponsored by the Federal Reserve Bank of Kansas City, Kansas City, MO:  Federal Reserve Bank of Kansas City, 1985.

 

139.       "Round Table External Sector Policy Options: The Case of Latin America," Santiago: United Nations Economic Commission for Latin America and the Caribbean (ECLAC), LC/R. 447, August 1985.

 

140.       "Comments on Hodrick and Srivastava's Paper" Journal of International Money and Finance 5, Supplement, March 1986.

 

141.       "The International Transmission and Effects of Fiscal Policies" (with A. Razin) American Economic Review 76, No. 2, May 1986.

 

142.       "Fiscal Policies in the World Economy" (with A. Razin) Journal of Political Economy 94, No. 3, June 1986.  Earlier versions were printed by The Mortimer and Raymond Sackler Institute of Advanced Studies, Tel‑Aviv University, Israel, IAS 829‑85 and as "Budget Deficits and Rates of Interest in the World Economy," NBER Working Paper Series, No. 1354, May 1984.

 

143.       "Real Exchange Rates, Interest Rates and Fiscal Policies" (with A. Razin) The Economic Studies Quarterly 37, No. 2, June 1986.

 

144.       "Comments on Some International Parity Conditions: An Empirical Investigation," European Economic Review 30, No. 3, June 1986.

 

145.       "Supply Shocks, Wage Indexation and Monetary Accommodation" (with J.Aizenman) Journal of Money Credit and Banking XVIII, No. 3, August 1986.

 

146.       "Targeting Rules for Monetary Policy" (with J. Aizenman) Economics Letters 21, 1986.

 

147.       "International Interdependence and the Constraints on Macroeconomic Policies," Weltwirtschaftliches Archiv 122, No. 4, 1986.  Also reprinted in R.H. Hafar (ed.) How Open is the U.S. Economy?, Boston, MA: Lexington Books, 1986.

 

148.       "A Guide to Target Zones" (with M. Goldstein), International Monetary Fund, Staff Papers 33, No. 4, December 1986.  Reprinted in L. Melamed (ed.) The Merits of Flexible Exchange Rates: An Anthology, Blacksburg, VA: George Mason University Press, 1988.  Also reprinted in S.K. Kaushik (ed.) Managing International Financial Systems, Prager, 1989.

 

149.       "Wage Indexation, Supply Shocks and Monetary Policy for a Small Open Economy" (with J. Aizenman), in S. Edwards and L. Ahamed (eds.) Economic Adjustment and Exchange Rates in Developing Countries, Chicago, IL: University of Chicago Press, 1986.

 

150.       "Seeking Solution Through Policy Coordination" in Makin, John, (ed.) in Exchange Rate Targets‑‑Desirable or Disastrous, Washington, D.C.: American Enterprise Institute, 1986.

 

151.       "Exchange Rate Misalignment and Market Volatility" in 1986 Capital Markets Seminar, New York, Nomura Securities International, Inc.,  1986.

 

152.       "Aspects of Dual Exchange‑Rate Regimes" (with A. Razin), Institute for International Economic Studies, Stockholm Sweden, Seminar Paper No. 335, September 1985. A revision appears as "The Limited Viability of Dual Exchange‑Rate Regimes," NBER Working Paper No. 1902, April 1986.

 

153.       "The International Transmission of Fiscal Expenditures and Budget Deficits in the World Economy" (with A. Razin), in E. Sadka and A. Razin (eds.) Economic Policy in Theory and Practice, London: Macmillan, 1987.

 

154.       "Comments on Optimal Currency Substitution Policy and Public Finance," in E. Sadka and A. Razin (eds.) Economic Policy in Theory and Practice, London:  Macmillan, 1987.

 

155.       "The International Monetary System: Should it be Reformed?" American Economic Review, 77, No. 3, May 1987.  Reprinted in P. King (ed.) International Economics and International Economic Policy:  A Reader, New York: McGraw Hill, 1990.  A Japanese translation appears in Economics Today, No. 9, Spring 1988.

 

156.       "Is the European Community an Optimal Currency Area?: Some Comments" in Levich, Richard and Andrea Sommariva (eds.)  The ECU Market‑Current Developments and Future Prospects of the European Currency Unit, Massachusetts: Lexington Books, 1987. 

 

157.       "Harry G. Johnson" The New Palgrave: A Dictionary of Economic Theory and Doctrine, London: The Macmillan Press Ltd.

 

158.        "The Monetary Approach to the Balance of Payments" (with M. Blejer) The New Palgrave: A Dictionary of Economic Theory and Doctrine, London: The Macmillan Press Ltd.

 

159.       "The Foreign Exchange Markets: Spot and Forward (with R. Levich), The New Palgrave: A Dictionary of Economic Theory and Doctrine, London: The Macmillan Press Ltd.

 

160.       "Don't be Nasty in Dealing with the International Monetary System" (in Japanese) The Weekly Toyo Keizai, Vol. 8, No. 28, 1987.

 

161.       "Comments on Economic Growth and Economic Policy" in V. Corbo, M. Goldstein and M. Khan (eds.) Growth‑Oriented Adjustment Programs, Washington, D.C.: International Monetary Fund and the World Bank, 1987, Pp. 226-236.

 

162.       "The Mundell‑Fleming Model: A Quarter Century Later" (with A. Razin), IMF Staff Papers, 34, No. 4, December 1987.

 

163.       "Sectorial Wages and the Real Exchange Rate" (with J. Aizenman) Journal of International Economics 24, No. 1/2, February 1988.

 

164.       "Fiscal Policies and Real Exchange Rates in the World Economy" (with A. Razin).  The World Bank Discussion Paper, DRD202, October 1986, and NBER Working Paper Series No. 2065, November 1986.

 

165.       "Capital Mobility and Exchange Rate Overshooting: Reply" (with J.S. Bhandari and R. Driskill) European Economic Review 32, 1988.

 

166.       "Preface" in Jacob A. Frenkel (ed.) International Aspects of Fiscal Policies, Chicago, IL: University of Chicago Press, 1988.

 

167.       "An Introduction to International Aspects of Fiscal Policies" in Jacob A. Frenkel (ed.)  International Aspects of Fiscal Policies, Chicago, IL: University of Chicago Press, 1988.

 

168.       "International Aspects of Budget Deficits with Distortionary Taxes" (with A. Razin) in E. Helpman, A. Razin and E. Sadka (eds.) Economic Effects of the Government Budget,
Cambridge, MA: MIT Press, 1988.

 

169.        "Spending, Taxes and Real Exchange Rates" (with A. Razin), IMF Working Paper Series No. 87/62, September 1987.

 

170.       "The International Monetary System:  Developments and Prospects" (with M. Goldstein), Cato Journal, 8, No. 2, Fall 1988.  Reprinted in Dorn J.A. and Niskanen W.A. (eds.), Dollars, Deficits and Trade, Norwell  MA: Kluwer Academic Publishers, 1989.  A modified version is   reprinted as "Fundamental Issues in the Functioning of the  International Monetary System" in The International Monetary System  and Economic Development, proceeding of the Malente Symposium VII,  edition Drהger--Stiftung, Band 12, Baden-Baden Nomos Verlagsgessell,  1988, and "The International Monetary System:  Recent Developments  and Key Issues" in D.E. Fair and C. de Boissieu (eds.) The  International Adjustment Process, New Perspectives, Recent Experience  and Future Challenges for the Financial System, Dordrecht, Kluwer  Academic Publishers, 1989.

 

171.       "International Coordination of Economic Policies:  Scope, Method and Effects" (with M. Goldstein and P. Masson), in W. Guth (ed.) Economic Policy Coordination, IMF, HWWA-Institute für Wirtschaftsforschung, Hamburg, 1988.

 

172.       "Budget Deficits Under Alternative Tax Systems" (with A. Razin), IMF Staff Papers, 35, No. 2, June 1988.

 

173.       "The Evolution of the International Monetary System and the Choice Between Fixed and Flexible Exchange Rates" (with M. Goldstein), (in Spanish), Infor­macion Comercial Espanola, No. 657, May l988.

 

174.       "Target Zones:  An Appraisal" (with M. Goldstein), Journal of Foreign Exchange and International Finance, l988.

 

175.       "Exchange Rate Volatility and Misalignment: Evaluating Some Proposals for Reform" (with M. Goldstein) in Financial Market Volatility, Federal Reserve Bank of Kansas City, 1988.

 

176.       Spending, Taxes and Deficits: International-Intertemporal Approach (with A. Razin), Princeton: Princeton Studies in International Finance No. 63, December 1988.

 

177.       "Swiss and World Economic Outlook" in International Banking Symposium 1988, Lugano: Banconia Ticihese, Lugano and Cittב di Lugano, 1989.

 

178.       "Simulating the Effects of Some Simple Coordinated versus Uncoordinated Policy Rules" (with M. Goldstein and P. Masson) in R.C. Bryant, D. Currie, J.A. Frenkel, P. Masson and R. Portes (eds.) Macroeconomic Policies in an Interdependent World, Washington, D.C.: International Monetary Fund, 1989.

 

179.       "Introduction to Macroeconomic Policies in an Interdependent World" (with R.C. Bryant, D. Currie, P. Masson and R. Portes) in R.C. Bryant, D. Currie, J.A. Frenkel, P. Masson and R. Portes (eds.)  Macroeconomic Policies in an Interdependent World, Washington, D.C.: International Monetary Fund, 1989.

 

180.  "International Dimensions of Monetary Policy: Coordination versus Autonomy" (with M. Goldstein and P. Masson), in Monetary Policy Issues in the 1990s, Federal Reserve Bank of Kansas City, 1989, Chapter 7, 183-232. . Reprinted in R. MacDonald and M. Taylor (eds.) Fiscal and Monetary Policy, Vol. II, London: Edward Edgar Publishing Limited, 1995.

 

181.       "Exchange Rate Management Viewed as Tax Policies" (with A. Razin) European "International Effects of Tax Reforms" (with A. Razin),  The Economic Journal, 99, No. 395, Supplement, 1989.

 

182.       "The World Economy: Prospects and Challenges for Economic Policy," in Europe l992: Lessons for Israel and the World, The Economics Quarterly, No. l42 October 1989, Published by Am Oved, Tel-Aviv, Pp. 199-202 (Hebrew).

 

183.       "Commentary: Currency Convertibility in Eastern Europe" in Central Banking Issues in Emerging Market-Oriented Economies, Federal Reserve Bank of Kansas City, 1990.

 

184.       "Adjustment Policies and Economic Development" (with M.S. Khan) American Journal of Agricultural Economics, 72, No. 3, August 1990.

 

185.       "Introduction" (with W.H. Branson and M. Goldstein) in W.H. Branson, J.A. Frenkel, and M. Goldstein (eds.) International Policy Coordination and Exchange Rate Fluctuations, Chicago IL: University of Chicago Press, 1990.

 

186.       "The Rationale for, and Effects of, International Policy Coordination" (with M. Goldstein and P.R. Masson) in W.H. Branson, J.A. Frenkel, and M. Goldstein (eds.) International Policy Coordination and Exchange Rate Fluctuations, Chicago, IL:  University of Chicago Press, l990.

 

187.       "The World Economy, Reform, and Hungary," in Opportunities in Hungary, Proceedings of Euromoney Conference, co-hosted by the National Bankof Hungary, December l990, Budapest, London: Euromoney Publications.

 

188.       "International Spillovers of Taxation" (with A. Razin and S. Symansky) in Razin, A. and Slemrod, J. (eds.), Taxation in the Global Economy, Chicago IL.: University of Chicago Press, 1990.

 

189.       "International Economic Policy Issues" in Hans Stoll (ed.) International Finance and Financial Policy, Westport CT: Quorum Books, 1990.

 

190.       "Comments on 'The Fiscal Deficit and the External Deficit: Siblings but not Twins'" in R. Penner (ed.) The Great Fiscal Experiment, Washington, D.C.: The Urban Institute, 1990.

 

191.       "Comments on 'What Future for the International Monetary System'?" in Y. Suzuki, J. Miyake and M. Okabe (eds.) The Evolution of the International Monetary System, Tokyo: University of Tokyo Press, 1990.

 

192.       "Monetary Policies, Capital Market Integration, and the Exchange Rate Regime" (with M. Goldstein) in Cahiers Economiques et Monיtaires, La politique monיtaire dans son environement international, IIe volume, Paris: Bank of France, No. 37, 1990.

 

193.       "Monetary Policies, Capital Market Integration and the Exchange Rate Regime" (talk of Jacob Frenkel), Cahiers ֹconomiques et Monetaires, La politique monetaire dans son environment international, Ier volume, Paris: Bank of France, No. 36, 1990.

 

194.       "La politique monetaire dans une union Economique et monetaire naissante" (with M. Goldstein) in Ministere de l'ֹEconomie des Finances et du Budget, Vers l'union economique et monetaire europeenne, Paris:  La Documentation Francaise, 1990.

 

195.       "Une strategie de l'Union Economique et Monetaire" in Ministere de l'Eֹconomie des Finances et du Budget, Vers l'union economique et monetaire europיenne, Paris: La Documentation Francaise, 1990.

 

196.       "Simulations of Global Effects of VAT Harmonization" (with A. Razin and S. Symansky) in H. Siebert (ed.) Reforming Capital Income Taxation, Kiel: Institute für Weltwirtschaft an der Universitהt Kiel, 1990.

 

197.       Comments on C.A.E. Goodhart, "International Considerations in the Formulation of Monetary Policy" in Pigott, Charles A. (ed.) International Financial Integration and the Conduct of U.S. Monetary Policy, New York:  Federal Reserve Bank of New York, 1990.

 

198.       "International Coordination of Economic Policies: Issues and Answers" (with M. Goldstein and P. Masson) in R. Dornbusch and J. Marcus (eds.) International Money and Debt, ICS Press, San Francisco, California, 1991.

 

199.       "Europe's Emerging Economic and Monetary Union" (with M. Goldstein), Finance & Development 28, No. l, March l99l.

 

200.       "Monetary Policy in an Emerging European Economic and Monetary Union Key Issues" (with M. Goldstein), IMF Staff Papers Vol. 38, No. 2, International Monetary Fund, June 1991 Pp. 356-373.

 

201.       "From Centrally Planned to Market Economies: The Road from CPE to PCPE" (with G. Calvo), IMF Staff Papers Vol. 38, No. 2, International Monetary Fund , June 1991.

 

202.       "Obstacles to Transforming Centrally-Planned Economies: The Role of  Capital Markets" (with G. Calvo) in P. Marer and S. Zecchini (eds.) The Transition to a Market Economy in Central and Eastern Europe, Paris: OECD, 1991.   

 

203.       "Credit Markets, Credibility and Economic Transformation" (with G. Calvo), Journal of Economic Perspectives, Fall 1991.

 

204.       "Transformation of Centrally-Planned Economies: Credit Markets and Sustainable Growth" with G. Calvo in G. Winckler (ed.) Central and Eastern Europe: Roads to Growth, Washington, D.C.: International Monetary Fund Austrian National Bank, 1991, Pp. 111-137. (Based on papers presented at a seminar held in Baden, Austria).

 

205.       "Developments and Prospects in the World Economy and Some Key Policy Issues" in S.K.  Kaushik (ed.) Future of World Finance:  Globalism vs. Regionalism vs...? New York: NYIF, 1991.

 

206.       "Major Themes in the Work of Jacques J. Polak (with M. Goldstein and M. Khan) in Frenkel, J.A. and M. Goldstein (eds.),  International Financial Policy: Essays in Honor of Jacques J. Polak, Washington, D.C.: International Monetary Fund and De Nederlandsche Bank, l99l.

 

207.       "Panel Discussion: What's New Since Toledo?" in M. Bruno, S. Fischer and E. Helpman (eds.), Lessons of Economic Stabilization and its Aftermath, Cambridge, MA:  MIT Press, 1991.

 

208.       "Intervention, Coordination, and Crises" in Martin Feldstein (ed.) The Risk of Economic  Crisis, Chicago, Ill.: University of Chicago Press, 1991.

 

209.       Characteristics of a Successful Exchange Rate System (with M. Goldstein and P. Masson), Occasional Paper No. 82, International   Monetary Fund, l99l.

 

210.       "Key Issues in the International Coordination of Economic Policies" (with M. Goldstein and P. Masson) in Hans Blommestein (ed.), The Reality of International Economic Policy Coordination, Amsterdam, North-Holland Publishing Co., l99l, Pp. 28-54.

 

211.       "What Liquidity Crisis?" in World Link, The Magazine of the World Economic Forum, No. 3, 1991.

 

212.       "The Potential Contribution of EMU to the Evolving International Monetary System" in European Monetary Union in a Turbulent World Economy, The Association for the Monetary Union of Europe, published as a special issues of DEPECUNIA, June l99l.

 

213.       "L'Union economique et monetaire et le systeme monetaire international: Principes fondamentaux" (with M. Camdessus), Lettre d'Information of the Mouvement Europeen, Association Paris Ile-de-France, l99l.    

 

214.       "International VAT Harmonization: Macroeconomic Effects" (with A. Razin and S. Symansky), IMF Staff Papers Vol. 38, No. 4, International Monetary Fund, December 1991, Pp. 789-827.

 

215.       "Foreword" in M.S. Khan, P.J. Montiel and N.V. Haque (eds.), Macroeconomic Models for Adjustment in Developing Countries, Washington, D.C.: International Monetary Fund, l99l.

 

216.       "Macroeconomic Policy Implicatins of Currency Zones" with Morris Goldstein, in Policy Implications of Trade and Currency Zones, a Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 1991, Federal Reserve Bank of Kansas City, 1991, pp. 157-211.

 

217.       "Fiscal Policy in Open Economies" (with A. Razin) in Peter Newman (ed.) The New Palgrave Dictionary of Money and Finance, London: Macmillan Press,

 

218.       “Monetary Overhang, Non-performing Loans and Fiscal Pressures”, (with G. Calvo), in P. Marer and S. Zecchini (eds.) The Transition to a Market Economy, Vol. II, OECD, Paris 1991 Pp. 443-455.

 

219.       "Major Themes in the Writings of Jacques J. Polak" (with M. Goldstein) in Frenkel, J.A. and M. Goldstein (eds.) International Financial Policy: Essays in Honor of Jacques J. Polak, Washington, D.C., International Monetary Fund and De Nederlandsche Bank, 1991.

 

220.       "Coordination of Monetary Policies in the World Economy" (with M.Goldstein and P. Masson) in Japanese in J.A. Frankel and A. Hattori (eds.) International Policy Coordination in the l990s. Japanese title: Senkyuhyaku Kyuiunendaino Seisakukyocho. Tokyo: Doubunkan, l99l.

 

221.       "The IMF's Adjustment Policies and Economic Development" (with M.Khan) in D.K. Das (ed.), Floating Targets: Current Issues in International Finance, Oxford University Press, l99l.

 

222.       “The Collapse of Purchasing Power Parities in the 1970’s” in G. de Menil  and R. J. Gordon (eds.) International Volatility and Economic Growth: The First Ten Years of the International Seminar on Macroeconomics, North Holland, 1991, Pp. 217-237.

 

223.       "Inaugural Address" in Quarterly Banking Review, The Association of Banks in Israel Vol. XXX, No. 117, The Association of Banks in Israel, September 1991, Pp. 24-25 (Hebrew).

 

224.       "The Government Budget for 1992-94", The Economic Quarterly, No. 150, December 1991, Published by Am Oved, Tel-Aviv, 1991 Pp. 405-415 (Hebrew).

 

225.       “Do not Change Sharply the Target of a Heavy Tanker” Published in Hatasiaynim, No. 20, January 1992 (Hebrew).

 

226.       "Economic and Monetary Union and the Evolving International Monetary System", With Michel Camdessus in Osterreiches Wirtschafts und Wihrungespolitick auf dem Weg nach Europa, Festshrift für Maria Schaumayer, Vienna: Austrian National Bank, 1992, Pp. 9-16.

 

227.       Statement by the Governor of the Bank of Israel, delivered at the EBRD Board of Governors, published at the “Proceedings of the 1st Annual Meeting of the board of Governors”, European Bank for Reconstruction and Development, Budapest April 1992

 

228.       "Macroeconomic Issues of Soviet Reform" (with S. Fischer) American Economic Review, Vol. 82, No. 2, May 1992.

 

229.       “The Man Who Was The Israeli Economy” an article in memory of Prof. Eitan Berglas in Yedioth Ahronoth newspapers, Israel  August 14, 1992. (Hebrew)

 

230.       "Overview Panelists" in Policies for Long-Run Economic Growth, A Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 1992, Federal Reserve Bank of Kansas City, 1992, pp. 237-241.

 

231.       The Governor’s Statement at The Annual Meeting of the Board of Governors - The World Bank Group and International Monetary Fund Summary Proceeding, International Monetary Fund, World Bank Group, Washington, September, 1992.

 

232.       Address at the Annual General Assembly of the Association of Banks in Israel 1992, in Quarterly Banking Review, Vol. XXXI, No. 121, The Association of Banks in Israel October 1992 Pp. 13-20 (Hebrew).

 

233.       “The Israeli Economy at the Crossroads" Lecture at The Second European Regional Conference of the Board of Governors, Tel-Aviv University, Arosa, Switzerland, January, 1993.

 

234.       Statement by the Governor of the Bank of Israel, delivered at the EBRD Board of Governors, published at the “Proceedings of the 2nd Annual Meeting of the board of Governors”, European Bank for Reconstruction and Development, London, April 1993.

 

235.       "Economic Policies and the Changing Europe - What Next?" (with Leo Leiderman, Daniel Cohen, Richard Portes and Lars Svenson), The Economic Quarterly, Symposium on Capital Mobility sponsored by the Sapir Center, Tel-Aviv University, the Bank of Israel and the CEPR, London, Tel-Aviv, May 1993 (Hebrew).

 

236.       "Economic Policy" in Economic Targets, Economic Policy and the Government Budget, Proceeding Caesarea Conference, Israel Democracy Institute, Jerusalem, June 1993 (Hebrew).

 

237.       "Money Demand and Inflation in Yugoslavia 1980-89" (with Mark P. Taylor) in Journal of Macroeconomics, Vol. 15 No. 3, Published for the College of Business Administration Louisiana State University Press, Summer 1993 Pp. 455-481.

 

238.        "Overview Panelists" in Changing Capital Markets: Implicatons for Monetary Policy, a Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August  1993, Federal Reserve Bank of Kansas City, 1993, pp. 389-397.

 

239.       "The Strategy of Economic Adjustment", in Reserve Bank of India Bulletin, Second L.K. Jha Memorial Lecture, Bombay, September 1993.

 

240.       "The Israeli Economy - Goals and Possibilities" in Israel Association of Graduates in the Social Sciences and Humanities Journal, September 1993 (Hebrew).

 

241.       Address at the Annual General Assembly of the Association of Banks in Israel 1993, in Quarterly Banking Review, Vol. XXXII, No. 125, The Association of Banks in Israel Pp. 11-19 October 1993 (Hebrew).

 

242.       "Key Issues in the Economy of Israel and in Economic Policy Making" Interview in The Region, Federal Reserve Bank of Minneapolis, December 1993.

 

243.       “Top Economist Ponders a Changing World," Interview in Finance and Development, IMF and World Bank, Washington, D.C., December 1993. (Published also in Arabic, Chinese, French, German, Portugese, Spanish).

 

244.       “The state of Israeli Economy”, Toward budget Discussions for 1995, Proceeding Caesarea Conference, Israel Democracy Institute, June 1994 (Hebrew).

 

245.       “The Man at the Helm”, Euromoney Israel – a Supplement to Euromoney, September 1994.

 

246.       The Governor’s Statement at The 49th Annual Meeting of the Board of Governors - The World Bank Group and International Monetary Fund  Summary Proceeding, International Monetary Fund, Washington, October 4-6, 1994.

 

247.       Lahi-idan veturi Interview with the Governor in Lenita Airisto (ed.) Menestrys, (Finnish).

 

248.       “Message from the Governor of the Bank of Israel”, La Camara, revista de La Camara Comercio Israel – America Latina,  Israel,  January 1995, Pp 7-8

 

249.       “Israel Economy at a Crossroads” The Challenges of the New Europe, Morris E. Curiel Center for International Studies, Tel-Aviv University, 1995.

 

250.       Statement by the Governor of the Bank of Israel, delivered at the EBRD Board of Governors, published at the “Proceedings of the 4th Annual Meeting of the board of Governors”, European Bank for Reconstruction and Development, London, April 1995.

 

251.       “The Past and Future of Money”, Die Zukunft des Geldes das Geld der Zukunft, National Bank of Austria, May 16-17, 1995.

 

252.       "The Global Economy" interview in Economics Third Edition, Michael Parkin, University of Western Ontario, Addison-Wesley Publishing Company, May 1995, Pp. 881-884.

 

253.       “Israel and the World Economic System: Challenges and Prospects”, Global Asset Management Speeches Presented at the GAM Conference, Jerusalem 1995, Global Asset Management, Jerusalem, 1995. Pp. 9-18.

 

254.       “The Monetary Policy’s dilemmas in 1996”, Toward budget Discussions for 1996 Proceeding Caesarea Conference, Israel Democracy Institute, June 1995 (Hebrew).

 

255.       “Building a New Middle East” Key note address at the Institutional Investor’s Executive Summary  “European Infrastructure and Beyond Rome Italy, June 1995.

 

256.       “The Father of the Israeli Economy” article in memory of Dan Patinkin in Yedioth Ahronoth newspapers, Israel, August 8, 1995(Hebrew).

 

257.       A word from Governor Frenkel, Evening for the memory of Dan Patinkin (30 days), The Israeli National Academy for Science, August, 1995. (Hebrew).

 

258.       “General Discussion: Public Sector Deficits and Macroeconomic Stability in Developing Economies”, Chairman: Jacob A. Frenkel, Budget Deficits and Debt: Issues and Options, a Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 1995, Federal Reserve Bank of Kansas City, 1995 pp. 397-401.

 

259.       “Surveillance and the International Monetary System”, IN James M. Boughton and K. Sarwar Lateef (eds.) Fifty Years after Bertton Woods The Future of the IMF and the World Bank, (Proceeding of a conference held in Madrid) International Monetary Fund, Washington 1995. Pp. 238-242.

 

260.       “Challenges to the Israeli Economy: Saving, Growth, Inflation and the Balance of Payments”, Quarterly Banking Review  based on an address at the Annual General Assembly of the Association of Banks in Israel 1995, Vol. XXXIII No. 132, The Association of Banks in Israel November 1995, Pp. 7-15  (Hebrew).

 

261.       “Yizhak Rabin That I Knew” an article in Maariv Newspapers, November 10, 1995 (Hebrew).

 

262.       “Czech-Israeli Economic Co-operation and the Prospects of the Economic Development in the Middle East in the Light of the Peace Process”, The Bohemiae Foundation Discussion Forums and Lectures, Ceskoslovenska Obchodni Banka, January 1996, Pp. 79-85.

 

263.       Conclusion to Part I & II, Volatile Capital Flows - Taming Their Impact on Latin America Edited by Ricardo Hausmann and Liliana Rojas-Suarez, Published by the Inter-American Development Bank by The Johns Hopkins University Press, Washington D.C. 1996, Pp. 58-59 Pp. 105-107.

 

264.       Statement by the Governor, at the First Plenary Session, Annual Meeting Inter-American Development Bank and Inter-American Inestment Corporation, Mars 1996.

 

265.       “Attracting Outside Investment”, Center Peace ,Remarks from Second Conclusion on the New Middle East Center for Middle East Peace and Economic Cooperation Washington DC April 1996.

 

266.       “Economic Goals in the light of the Inflation-Growth-Budget debate” Challenges for the Israeli Economy at the verge of the New Millennium Proceeding 4th Caesarea Conference, Israel Democracy Institute, July 1996 (Hebrew).

 

267.       “Israel Experience with Inflation” a lecture delivered at the Federal Reserve Bank of Kansas City Symposium, published in “Achieving Price Stability” Federal Reserve Bank of Kansas City, Jackson Hole Wyoming, August 1996. Pp. 139-146.

 

268.       "The Israeli Economy at a Crossroads", A lecture delivered at the Annual Dinner of the Chicago Committee for the Weizman Institute of Science, Chicago, September 8, 1996.

 

269.       The Governor’s Statement at The Annual Meeting of the Board of Governors - The World Bank Group and International Monetary Fund  Summary Proceeding, International Monetary Fund, World Bank Group, Washington, October 1-3, 1996.

 

270.       “Watching the margins” Article by the Governor, Published at the Finance International Magazine Autumn/Winter 1996.

 

271.       Interview, in Central Banking Special Issue Bank of Israel, Vol. VII No. 3, Winter 1996/7, Central Banking London, Pp. 50-57.

 

272.       A word from Prof. Frenkel, honorary President at The 40th years celebrations of the Israel Graduates Social Sciences & Humanities, Israel Graduates Social Sciences & Humanities November 1996 (Hebrew).

 

273.       "Fixed Versus Floating Exchange Rates: What's new in the Debate?" in Mario I. Blejer, Jacob A. Frenkel, Leonardo Leiderman and Assaf Razin (eds.) Optimum Currency Areas, International Monetary Fund, 1997 , Pp. 54-57. (Based on remarks at Conference in honor of Prof. Robert Mundell, Jerusalem, 1996).

 

274.       "Capital Mobility and its Impacts on the Operations of a Central Bank", Banking Soundness and Monetary Policy, Issues and Experiences in the Global Economy Ed. By Charles Enoch and John H. Green International Monetary Fund, Washington DC 1997.

 

275.       "Equivalence Relations in International Texation" (with Alan Auerbach and Assaf Razin), in M. I. Blejer and T. Ter-Minassian (Eds.) Macroeconomic Dimensions of Public Finance - Essays in honor of Vito Tanzi, Routledge, March 1997, Pp. 146-163.

 

276.       Roundtable on Lessons of European Monetary Integration for the International System, EMU and the International Monetary System, proceeding of a conference held in Washington DC on March 17-18, 1997, International Monetary Fund, 1997.

 

277.       “Lessons from Economic Stabilization”, Banco de Investimentos Garantia - Economic letter, Banco de Investimentos Garantia, Brazil,  July 1997. based on a Lecture delivered at Banco Garantia, Brazil, May 1997.

 

278.       “The State of the Economy”, The State of the Economy, Guidelines for the National Budget for 1998 and Considerations Towards a Tax Reform, proceeding the Fifth Ceasrea Conference, Israel Democracy Institute, June 1997, Pp. 48-52.

 

279.       “General Discussion: Overview Panel” Chairman: Jacob A. Frenkel, in Maintaining Financial Stability in a Global Economy, a Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, August 1997, Federal Reserve Bank of Kansas City, 1997 pp. 345-358.

 

280.       Central Bank Statement, Christopher Holloway (eds.) Global Banking and Financial Policy Review 1997/1998, A Euromoney Institutional Investor Publication, UK, September 1997, Pp. 80.

 

281.       The Governor’s address, Inauguration - First Annual Meeting of the International Board of Governor, The Peres Center For Peace, Israel October 1997.

 

282.       Address at the Annual General Assembly of the Association of Banks in Israel 1997, in Quarterly Banking Review, Vol. XXXV No. 139 the Association of Banks in Israel November 1997 Pp. 4-12 (Hebrew).

 

283.       “Growth, Inflation and Economy Stability”, in R. Melnik and Z. Shifer (eds.) Articles Collections on the Israeli Economy, in Memory of Michael Bruno, Israel November, 1997 (Hebrew).

 

284.       "The Israeli Economy: Setting the Stage For the Next Millennium", Israel: Economic Prospects into the Next Millennium,  A lecture delivered at the Euromoney Conference, Tel Aviv, May 18-19, 1998.

 

285.       “Globalization, Instability, and the World Financial System” The Frank M. Engle Lecture 1998, The American College, USA 1998, based on an address given at the 21st Frank M. Engle Lecture in Economic Security at the American College, Philadelphia, May 1998.

 

286.       A word from the Governor in HAYAHALOM Journal of the Israel Diamond Industry and Trade, No. 154, Israel Diamond Institute Publication, Israel, June 1998 Pp. 18 & 239 

 

287.       “Economy–History and Challenges”, (with Daniel Gottlieb) Israel at 50 1948-1998 – History and Economy, IMCE, Paris, 1998, Pp. 121-127.

 

288.       “A Young Economy Meeting the Challenge”, Israel at Fifty 1948- 1998, Euro-Mediterranean Partnership Vol. 3, Issue II, 1998 Pp. 6-9.

 

289.       Central Bank Statement, Peter Drew (eds.) Global Banking and Financial Policy Review 1998/1999, A Euromoney Institutional Investor Publication, UK, September 1998, Pp. 102.

 

290.       The Governor’s Statement at The 53rd Annual Meeting of the Board of Governors - The World Bank Group and International Monetary Fund  Summary Proceeding, International Monetary Fund, Washington, October 6-8, 1998.

 

291.       Statement by the Governor, Israel-British Trade The Journal of the Israel-British Chamber of Commerce, Israel-British Trade Israel, Autumn 1998, pp. 16.

 

292.       Opening Statement IMF Reform: Proposals to Stabilize the International Finance System, Hearing before the Joint Economic Committee Congress of the United States, International Monetary Fund, Washington 1998.

 

293.       "Central Bank Independence and Monetary Policy" Review of Monetary and Financial Studies, Japan Society of Monetary Economics, Hitotsubashi University, Vol. 15 October 1998.

 

294.       "Stability and Exchange Rate Policy", Hitotsubashi Journal of Commerce & Management, The Hitotsubashi Academy Hitotsubashi University, Vol. 33 No. 1 October 1998.

 

295.       “The Israeli Economy in the Globalization Era” Address at the Annual General Assembly of The Association of Banks in Israel 1998 in Quarterly Banking Review, The Association of Banks in Israel Vol. XXXVI No. 141 November 1998, Pp. 5-15 (Hebrew).

 

296.       “The International Experience of Monetary and Exchange Rate Management in Small Open Economies” Central Bank of Malta Quarterly Review Vol. 31 No. 4 Pp. 76-92, Central Bank of Malta, December 1998.

 

297.       “Stabilization, Growth and Transition”, The Economic Quarterly No. 3, Symposium in memory of Michael Bruno, Hebrew University, Am Oved, Tel-Aviv, December 1998, Pp. 643-646 (Hebrew).

 

298.       Address from the Governor, published in the “KENES HATIKVA 1998”, Israel 1998, Pp. 84-88. (Hebrew).

 

299.       “Liberalization and Financial Reforms: Lessons from the Israeli Experience”, in Mario Blejer and Marko Skreb (eds.) “Financial Sector Transformation Lessons from Economies in Transition, Cambridge University Press, 1999, Pp. 368-380.

 

300.       Statement by the Governor of the Bank of Israel, delivered at the EBRD Board of Governors, published at the “Proceedings of the Eighth Annual Meeting of the board of Governors”, European Bank for Reconstruction and Development, London, 19-20 April 1999

 

301.       “The International Role of the Deutsche Mark” With Morris Goldstein, Fifty Years of the Deutsche Mark, Ed. by Deutsche Bundesbank, Oxford University Press, 1999, Pp. 685-729. Also Published in German Funfzig Jahre Deutsche Mark, Notenbank und Wahrung in Deutschland seit 1948, Deutsche Bundesbank 1999.

 

302.       “Financial Crises: What Have We Learned from Theory and Experience, in Isard Peter, Assaf Razin and Androw K. Rose (eds.)  International Finance and Financial Crisis: Essays in Honor of bobert P. Flood JR.”, Washington: IMF & Boston: Kluwer Academic Press, 1999, pp. 63-70.

 

303.       Central Bank Statement, in Sslly Hodget (eds.) Global Banking and Financial Policy Review 1999/2000, A Euromoney Institutional Investor Publication, UK, September 1999, Pp. 102.

 

304.       “Globalization, Central Bank Independence and Monetary Policy”, published in Zeitschrift fur das gesamte Kreditwesen, Article in honor of Professor Hans Tietmeyer upon his retirement as President of the Deutsche Bundesbank, Germany, October 1999, Pp. 898-903.

 

305.       “Central Bank Independence and Monetary Policy” Zagreb Journal of Economics, Vol. 3 No. 3, Zagreb Journal of Economics, 1999. Pp. 3-22.

 

306.       “Central-Bank Independence and Monetary Policy” in Mario I. Blejer and Marko Skreb (eds.)  Central Banking, Monetary Policies and the Implications for Transition Economies”, Massachusetts, Kluwer Academic Publishers, 1999, Pp. 11-30.

 

307.       “Challenges for the Israeli Economy in the Era of Globalization Towards the Third Millennium”, Quarterly Banking Review, The Association of Banks in Israel, Vol. XXXVI No. 143, November 1999, Pp. 4-15. (Hebrew).

 

308.       “Conclusion remarks on: Challenges of financial Globalization” in Challenges of financial Globalization, Laying of the Corner Stone of the Berglas School of Economics, Tel-Aviv University, December 1999. (Hebrew).

 

309.       “Central Bank Independence and Monetary Policy” in Leonardo Leiderman (ed.) Inflation and Disinflation in Israel” Bank of Israel, Research Department, December 1999, Pp. 9-26 (Hebrew).

 

310.       “Key Issues in the World Economic System” a lecture delivered in the International Conference of Private Business Organizations, Dresden Germany 1999 (forthcoming).

 

311.       “Globalization: The Challenge for Economic Policy Making” lecture delivered at the 3rd Devis Services Conference: “Services in the Age of Global Markets” Berlin Germany, 1999 (forthcoming) 

 

312.       “Globalization, Financial Stress & Transition”, Ten Years of Transition: What Have we Learned and What Lies Ahead, based on a lecture delivered at the Fifth Dubrovnik Conference on Transition economies, 1999, (forthcoming)

 

313.       Globalization and Financial Markets: A Challenge for Economic PolicyA lecture delivered at the Economic Department of the University of Zagreb, June 1999 (Forthcoming)

 

314.       “The state of the Israeli Economy”, a lecture delivered at The Ceasrea Conference, Israel Democracy Institute 1999, (forthcoming) (Hebrew).

 

315.       Remarks at the Jackson Hole Symposium: “New Challenges for Monetary Policy” a Symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming, Federal Reserve Bank of Kansas City, 1999 (forethcoming).

 

316.       “Globalization: Challenges & Opportunities – Israeli Perspective”, lecture at the international monetary symposium: “Globalization and Regional Integration: the Consequences for Monetary Policy conduct”, Banque de France,  October 1999 (forthcoming).

 

317.       “Global Financial architecture: What is the new role of the IMF and the changes to the exchange rate system” Speech given at the ZURICH seminar: “The Recovery of Asian Economy and Its Impact to China” Beijing, October 1999 (forthcoming)

 

318.       “Central Bank Independence and Monetary Policy”, Essay in honor of M. Zanbar (Hebrew) (Forthcoming)

 

319.       “Balance of Payments, Exchange Rates and Competitiveness: Lessons for Transition Economies from the Israeli Experience” in Mario I Blejer and Marko Skreb (eds) Balance of Payments, Exchange Rates and Competitiveness in Transition Economies, Massachusetts, Kluwer Academic Publishers, 1999, pp. 403-18.