C.V.

CV (pdf version)

Profiled in

The 13 Women Who Transformed the World of Economics, James Bird, Business Insider, November 13, 2015.

10 Top Women in Economics, Tomas Hirst, World Economic Forum, July 23, 2015. Solving History’s Puzzles, Finance and Development, James L. Rowe Jr. Profiles Carmen M. Reinhart, June 2013, 4-7.

Carmen Reinhart to Kennedy School,  Economix, New York Times, Catherine Rampell, July 5, 2012.

Carmen Reinhart: Recovery is Right on Track, Money Magazine, David Futrelle, April 4, 2011.

Carmen Reinhart on Studying Financial Crises, Science Watch, Thompson Reuters, September 2010.

Reinhart Sees Seven More Years of High Unemployment,  Bloomberg/Businessweek, Vivien Lou Chen, August 27, 2010.

 They Did Their Homework (800 Years of It), New York Times, July 2, 2010, Catherine Rampell.

Carmen Reinhart: Debt Doyenne, Institutional Investor, June 7, 2010.

What the Woman Lived, Economic Principals, November 1, 2009, David Warsh.

Carmen M. Reinhart: NBER Profile, NBER Reporter, Summer 2005, page 17.

 Personal Information

Born in Havana, Cuba, U.S. citizen. Married to Vincent Raymond Reinhart, son, William Raymond Reinhart.

Education

Ph.D., Columbia University, New York, 1988.
Advisor:  Robert Mundell
Doctoral Dissertation: "Real Exchange Rates, Commodity Prices, and Policy Interdependence."

M. Phil., Columbia University, New York, 1981

M.A., Columbia University, New York, 1980

B.A. (Summa Cum Laude), Florida International University, Miami, 1978.  

Professional Positions

Minos A. Zombanakis Professor of the International Financial System, Harvard Kennedy School, July 2012 -

Dennis Weatherstone Senior Fellow, Peterson Institute for International Economics, Washington DC, 2011 - June 2012

Professor, Department of Economics, and Director, Center for International Economics, University of Maryland, 2009 - 2010

Professor, School of Public Policy and Department of Economics, University of Maryland, 2000 - 2009

Deputy Director and Senior Policy Advisor, Research Department, International Monetary Fund, 2001- 2003

Associate Professor
, School of Public Policy, University of Maryland, 1996 - 1999.

Director, International Security and Economic Policy Specialization, School of Public Policy, 1998 - 2001.

Senior Economist, Western Hemisphere Department, International Monetary Fund, 1995 - 1996.

Economist, Research Department, International Monetary Fund, 1988 - 1994

Chief Economist and Vice President, Research Department, Bear Stearns, New York, 1985 - 1986.

Economist, Research Department, Bear Stearns, New York, 1982 - 1985.

Visiting Positions

Distinguished Visiting Fellow, Center for the Study of Globalization, Yale University, October, 2010.

Visiting Fellow, Center for Global Development, 2006 - 2007.

Visiting Scholar, Research Department, Inter-American Development Bank, Fall 1996, Spring 1997 - Fall 1998, Winter 2001.

Visiting Scholar, International Monetary Fund, Research Department, Summer 1999

Visiting Scholar, Board of Governors of the Federal Reserve, International Finance Division, Summer 1999.

Visiting Scholar, Universidad Torcuato di Tella, Buenos Aires, Argentina, Summer 1998.

Visiting Scholar, Research Department, Federal Reserve Bank of New York, New York, Summer 1998.

Visiting Scholar and Lecturer, Universidad de los Andes, Bogotá, Colombia, Summer 1997, 1998.

Visiting Fellow, Peterson Institute for International Economics, 1997 - 1998.
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Other Professional Activities

Research Associate, National Bureau of Economic Research, 1999-

 Research Fellow, Centre for Economic Policy Research, 2008-

 Member, Council on Foreign Relations, 1997-

 Member, The Trilateral Commission, 2011-

 Governor, Smith Richardson Foundation, 2011-

 Member, Congressional Budget Office, Panel of Economic Advisers, 2010-2016.

 Member, Federal Reserve Bank of New York, Advisory Panel, 2014-

 Member, Chief Economist’s Advisory Council, The World Bank, 2011-2013.

Founding Contributor, VoxEU-CEPR.

 External Academic Evaluation Committee, School of Government, Universidad Torcuato di Tella, March 2004 –

 Comité Científico, Ensayos Sobre Política Económica, Banco de la Republica, Colombia, 2009 –

Honorary Member, Latin American and Caribbean Economic Association (LACEA), 2015-

 Forum Fellow, World Economic Forum, Davos, Switzerland, 2000, 2010-2013, 2017.

 Jury Member, Deutsche Bank Prize in Financial Economics, 2010 - 2011.

 Advisory Board, Institute for New Economic Thinking, July 2010 - 2013.

 Senior Mentor, 2004, Committee for the Status of Women in the Economics Profession, American Economic Association.

 Member, Advisory Commission on the Role of the Multilateral Development Banks in Emerging Market Economies, sponsored by the Carnegie Endowment for International Peace, Emerging Markets Partners, and the Inter-American Dialogue 2001.

 Selection Committee, Social Science Research Council Program in Applied Economics, 2000.

 Member, Overseas Development Council Working Group on The Role of the International Monetary Fund in Development, 2000.

 Member, Group of Thirty Study Group on Latin America Capital Flows, 1994.

 Executive Committee Member, Latin American and Caribbean Economic Association (LACEA), 2004-2007.
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Awards and Honors

Ranked first among Top Women Economists registered with Research Papers in Economics (RePec) From 2007 (first time rankings are published) - present.

Listed in The World's Most Influential Scientific Minds, 2014, Thomson Reuters.

Highly Cited Researchers 2014 list, Thomson Reuters.

Latin American and Caribbean Economic Association  2014 Carlos Diaz-Alejandro Prize

Doctor Honoris Causa , University of the Basque Country, Spain, 2013.

Master of Arts Honoris Causa, Harvard University, 2012.

 Foreign Policy’s Top 100 Global Thinkers of 2011.

Bloomberg Markets Most Influential 50,

Council on Foreign Relations’ Arthur Ross Book Award for Time It’s Different: Eight Centuries of Financial Folly (with Kenneth S. Rogoff), September 2011.

Alice Gorlin Distinguished Award for Excellence in International Economics, 2011.

Florida International University’s Torch Award for Outstanding Achievement, 2011.

Ranked first among Top Women Economists registered with Research Papers in Economics (RePec) From 2007 (first time rankings are published) - present.

Paul A. Samuelson Award, TIAA-CREF Institute, 2010 for This Time It's Different: Eight Centuries of Financial Folly (with Kenneth S. Rogoff). (Princeton: Princeton University Press, September 2009).

Foreign Policy
's Top100 Global Thinkers of 2010.

The Aftermath of Financial Crises (with Kenneth S. Rogoff, AER) is selected by Essential Science IndicatorsSM from Thomson Reuters as a Fast-Moving Front Paper- (most-cited paper) in the research area of Economics & Business, September 2010.

Wealth Manager, The Top 50 Women in Wealth, May 3, 2010.

Wealth Manager "Strategist of the Month," December 2008.

Fear of Floating (with Guillermo Calvo, QJE) is selected by Essential Science Indicators from Thompson Reuters as the Fast Breaking Paper (most cited paper) in Economics and Business, April 2004.

Teaching Awards, Department of Economics, University of Maryland, 1997 - 2001, 2004, 2009.

Biographee, Who's Who in America, Who's Who in Economics, and Who's Who in the World.

H.B. Earhart Fellow, Earhart Foundation, 1980.

President's Fellow, Columbia University, 1978 and 1979.
Phi Beta Kappa, Florida International University Chapter.
Outstanding Academic Achievement Award, Florida International University, 1978.

Editorial Boards

Journal of Economic Perspectives, 2012 -2015

Book Series on Central Banking, Analysis, and Economic Policies of the Central Bank of Chile, 2009 -

International Journal of Central Banking, 2004 -

American Economic Review, 2001 - 2005.

The World Bank Economic Review, 1999 - 2003.

Review of International Economics, 1998 - 2001.

Journal of International Economics, 1998 - 2001.

Economía, Journal of the Latin American and Caribbean Economic Association, 1999-2001 

Grants

Sloan Foundation Grant, 2009-2011.
The History of International Financial Crises:  A Living Data Base, (with Kenneth Rogoff).

Smith Richardson Foundation Grant, 2009-2011.

National Science Foundation Grant No. 0849224, 2009-2011.
International financial crises cycles in  historical perspective,
(with Kenneth Rogoff).

Japan Center for International Political Economy, 2000-2001The Role of Credit Rating Agencies in the International Economy.
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Selected Honorific Public Lectures

Gallatin Lecture Series on Banking, New York University, November 2016 (planned)

Per Jacobsson Lecture, International Monetary Fund Annual Meetings, Lima, October 2015.

David Finch Lecture, University of Melbourne (May, 2015).

Carlos Diaz Alejandro Prize Lecture, LACEA, Sao Paulo, November 2014.

Annual Bank Conference on Development Economics (ABCDE), World Bank, Washington, D.C., June  2014.

 Bernard Schwartz Distinguished Lecture, SAIS, Johns Hopkins University, April 2014.

Jan Tinbergen Lecture, Netherlands Royal Economic Society, October 2012.

 Walter E. Edge Lecture, Princeton University, May 2012.

Angelo Costa Lecture, XII, Rome, October 2011.

Bradbury Lecture, University of Florida, Gainesville, February 2012.

Carlos F. Díaz-Alejandro Lecture, ASCE, Washington DC, April 2011.

Alice Connor Gorlin Memorial Lecture, Detroit, 2011.

Economic Journal Lecture, Royal Economic Society, Surrey, 2010.

Keynote address, International Real Estate Capital Markets Conference, New York, 2008. Featured in CMBS Finance.

Keynote adress,  2nd Conference on Advances in Economics Research, Universidad de Navarra, Pamplona, 2006.

Keynote lecture at 75th Anniversary of the Central Bank of Turkey, Istanbul, 2006.

Plenary keynote lecture, African Economic Research Consortium, Nairobi, 2000

Books

A Decade of Debt, (with Kenneth S. Rogoff). Policy Analyses in International Economics 95 (Washington DC: Peterson Institute for International Economics, September 2011).

This Time It’s Different: Eight Centuries of Financial Folly (with Kenneth S. Rogoff). (Princeton: Princeton University Press, September 2009)Translated to 21 languages.

All Figures and Tables

Assessing Financial Vulnerability: An Early Warning System for Emerging Markets (with Morris Goldstein and Graciela Kaminsky), (Washington, DC: Institute for International Economics, 2000). Translated to Turkish.

Books Edited

Capital Mobility and Monetary Policy (with Miguel Fuentes and Claudio Raddatz, eds.) (Santiago: Banco Central de Chile, 2014).

 The First Global Financial Crisis of the Financial 21st Century: Part II, June-December, 2008 (with Andrew Felton, eds.). (London: VoxEU and CEPR, February, 2009).

The First Global Financial Crisis of the 21st Century (with Andrew Felton, eds.). (London: A VoxEU, CEPR Publication, July 2008).

Money, Crisis, and  Transition:  Essays in Honor of Guillermo A. Calvo (with Carlos A. Végh and Andrés Velasco, eds.).  (Cambridge: MIT Press, 2008).

Ratings, Rating Agencies and the Global Financial System (with Richard Levich, and Giovanni Majnoni, eds.), (New York: Kluwer Academic Press, 2002).

Accounting for Saving: Financial Liberalization, Capital Flows, and Growth in Latin America and Europe, ed. (Washington DC: John Hopkins University Press for the Inter-American Development Bank,1999).

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Academic Publications

Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015,” (with Vincent Reinhart and Christoph Trebesch).  American Economic Review, Vol. 106(5), May 2016, 574-580.

“Does Reserve Accumulation Crowd Out Investment?” (with Vincent Reinhart and Takeshi Tashiro). Journal of International Money and Finance. Vol. 63, May 2016, 89-111.

The International Monetary Fund:  Seventy Years of Reinventing Itself” (with Christoph Trebesch). Journal of Economic Perspectives, Vol. 30(1) Winter 2016, 3-28.

 “Sovereign Debt Relief and its Aftermath,” (with Christoph Trebesch). Journal of the European Economic Association, Vol. 14(1), February 2016, 215-251."Sovereign-debt relief and its aftermath: The 1930s, the 1990s, the future," VOX EU,October 21, 2014.

Sovereign Debt and Financial Crises: Theory and Historical Evidence,” (with Sebnem Kalemli-Ozcan and Kenneth Rogoff) Journal of the European Economic Association, Vol. 14(1), February 2016, 1-6.

"From Financial Repression to External Distress: The Case of Venezuela." (with Miguel Angel Santos). Emerging Markets Finance and Trade, Vol. 52(2), February 2016, 255-284.

 “The Pitfalls of External Dependence: Greece, 1829-2015,” (with Christoph Trebesch). Brookings Papers on Economic Activity, Fall 2015, 307-328.

“The Antecedents and Aftermath of Financial Crises as told by Carlos F. Díaz Alejandro. Economía Journal of the Latin American and Caribbean Economic Association, Fall 2015. Vol. 16(1), 187-217.

"Financial Crises, Development, and Growth: A Long-term Perspective"  (with Vincent R. Reinhart), World Bank Economic Review, April 2015, Vol. 29 (1), 1-24.

“Dealing with Debt,” (with Vincent Reinhart and Kenneth Rogoff), Journal of International Economics, Vol. 86(1), April 2015, 543-555.

“The Liquidation of Government Debt,” (with M. Belen Sbrancia), NBER Working Paper 16893, March 2011.  Economic Policy, Vol. 30(82), March 2015, 291-333. Most recent version here.

“Capital Mobility and Monetary Policy: An Overview,” (with Miguel Fuentes and Claudio Raddatz), Journal Economía Chilena, Banco Central de Chile, Vol. 18(1), April 2015, 50-67.

This Time is Different: A Panoramic View of Eight Centuries of Financial Crises,” (with Kenneth Rogoff), Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 1065-1188, November 2014.

“Capital Inflows, Exchange Rate Flexibility, and Credit Booms” (with Nicolas E. Magud, and Esteban R. Vesperoni). Review of Development Economics, Vol. 18(3), August 2014, 415-430.

“Recovery from Financial Crises: Evidence from 100 Episodes,” (with Kenneth S. Rogoff) American Economic Review, Vol. 104(5), May 2014, 50-55.
Online Appendix and Figures, Tables, and Data

“Crowding Out Redefined: The Role of Reserve Accumulation” (with Takeshi Tashiro). In Reuven Glick and Mark Spiegel, (eds.), Prospects for Asia and the Global Economy, (San Francisco: Federal Reserve Bank of San Francisco, 2014). Also San Francisco Federal Reserve Bank’s  Proceedings, November 2013, 1-43.

“Financial and Sovereign Debt Crises: Some Lessons Learned and Those Forgotten,” (with Kenneth S. Rogoff), in Stijn Cleassens, Ayhan Kose, and Luc Laeven (eds.) Financial Crises: Causes, Consequences, and Policy Responses (Washington DC: International Monetary Fund, 2014).
Reprinted in Chinese in: Journal of Financial Market Research, Vol. 24(5), 2014, 127-139

Addicted to Dollars,” (with Kenneth S. Rogoff and Miguel A. Savastano) Annals of Economics and Finance, Society for AEF, Vol. 15(1), May 2014, pages 1-52 (lead article).
All Figures, Tables, and Data

“Banking Crises: An Equal Opportunity Menace” (with Kenneth S. Rogoff), Journal of Banking & Finance Vol. 37, November 2013, 4557–4573.
All Figures, Tables, and Data

Shifting Mandates: The Federal Reserve’s First Centennial,” (with Kenneth S. Rogoff). American Economic Review, Vol. 103(3), May 2013, 48-54.
Online Figures, Tables, and Data

Public Debt Overhangs: Advanced-Economy Episodes since 1800” (with Vincent R. Reinhart and Kenneth S. Rogoff) Journal of Economic Perspectives, Vol. 26(3), Summer 2012, 69-86.
Online Appendix and Data

“The Causes of Financial Crises, Past and Present: The Role of the This-Time-is-Different Syndrome,” (with Kenneth S. Rogoff) in Janet Byrne, (ed.) The Occupy Handbook, (New York: Little, Brown and Co., 2012), 117-132.

A Series of Unfortunate Events: Common Sequencing Patterns in Financial Crises,  in Rivista di Politica Economica, Vol No.  XII Angelo Costa Lecture, October 2011.

From Financial Crash to Debt Crisis, (with Kenneth S. Rogoff), NBER Working Paper 15795, March 2010.  American Economic Review, Vol. 101, No. 5, August, 2011, 1676-1706. 
Online Appendix and All Figures, Tables, and Data

“Limits of Monetary Policy in Theory and Practice,” (with Vincent Reinhart). Cato Journal, Vol. 31, No. 3, Fall 2011, 427-439.

The Forgotten History of Domestic Debt, (with Kenneth S. Rogoff). Economic Journal, Vol. 121, Issue 552, May 2011, 319-350.
All Figures, Tables, and Data

On Graduation from Default, Inflation and Banking Crises: Elusive or Illusion? (with Rong Qian and Kenneth S. Rogoff), NBER Working Paper 16168, forthcoming in Daron Acemoglu and Michael Woodford, eds. NBER Macroeconomics Annual 2010. Vol. 25, Cambridge, Mass: MIT Press, 2010 (lead article)

After the Fall, (with Vincent R. Reinhart), forthcoming in Federal Reserve Bank of Kansas City Economic Policy Symposium, Macroeconomic Challenges: The Decade Ahead at Jackson Hole, Wyoming, on August 26-28, 2010.
Reprinted (with prologue) as:
"Después del Colapso," El Trimestre Económico, vol. LXXVII (4), núm. 304, Octubre-Diciembre, 2010.

Growth in a Time of Debt, (with Kenneth S. Rogoff) American Economic Review, Vol. 100 No. 2, May 2010, 573-578. NBER Working Paper 15639, January 2010 and CEPR Discussion Paper 7661, January 2010. 
Selected by:
Essential Science IndicatorsSM  from Thomson Reuters as a Fast-Moving Front paper- (most-cited paper) in the research area of Economics & Business, 2010.
When the North Last Headed South: Revisiting the 1930s, (with Vincent R. Reinhart), Brookings Papers on Economic Activity,
Fall 2009, 251-272.
CEPR Discussion Paper 7835, May 2010.

The Aftermath of Financial Crises (with Kenneth S. Rogoff), American Economic Review, Vol. 99 No. 2, May 2009, 466-472.
All Figures and Data
Spanish version:
Secuelas de crisis bancarias, Bourning Markets, Spain, January 30, 2009.
Chinese version: (coming soon) in New Finance, Bank of Communications, Shanghai, China.
Selected by: ISI Essential Science Indicators (Web of Science) as the Fast Breaking Paper in Economics and Business-Comment by Carmen M. Reinhart.

 Capital Flow Bonanzas: An Encompassing View of the Past and Present, (with Vincent R. Reinhart) in Jeffrey Frankel and Francesco Giavazzi (eds.) NBER International Seminar in Macroeconomics 2008, (Chicago: Chicago University Press for NBER, 2009).
Reprinted as: "Bonanzas de Capital:  Una Mirada que Abarca el Pasado y el Presente,"Ensayos Sobre Politica Economica, No. 20, (Bogotá: Banco de la Republica), December 2009.

Is the 2007 U.S. Subprime Crisis So Different? An International Historical Comparison, (with Kenneth S. Rogoff) in American Economic Review, Vol. 98 No. 2, May 2008.
Spanish version:
¿Es tan diferente la crisis financiera sub-prime de 2007 en EEUU? una comparación histórica internacional , MPRA Working Paper 13656, 2008.

All Figures and Data
Serbian version: Da li je američka sub-prime finansijska kriza iz 2007. godine tako različita? Medunarodna istorijska komparacija, πανoeconomicscus, 2009. 3, 291-299.

The Center and the Periphery: The Globalization of Financial Shocks, (with Graciela  L. Kaminsky) NBER Working Paper 9479, February 2003 forthcoming in Carmen M. Reinhart, Carlos A. Végh and Andres Velasco eds. Capital Flows, Crisis, and Stabilization:  Essays in Honor of Guillermo A. Calvo. (Cambridge: MIT Press, 2008).
Reprinted in : H. Peter Gray and John R. Dilyard, eds. Globalization and International Economic Instability (Camberley: Edward Elgar,).

 Capital Controls: An Evaluation (with Nicolas Magud), in Sebastian Edwards (ed.), Capital Controls and Capital Flows in Emerging Economies: Policies, Practices, and Consequences (Chicago: Chicago University Press for the NBER, 2007).

When In Peril Retrench: Testing the Portfolio Channel of Contagion, (with Fernando Broner and Gaston Gelos). Journal of International Economics, Vol. 6 No. 1, June 2006, 203-230.

Serial Default and Its Remedies, (with Kenneth S. Rogoff). Miguel Centeno, Harold James, and J. Londregan, eds. The Political Economy of Recurrent Debt. (Princeton, NJ: Princeton Institute for International and Regional Studies Monograph Series, Number 3, 2005). 4-18 (lead article).

When It Rains, It Pours: Procyclical Capital Flows and Policies, with (Graciela L. Kaminsky and Carlos A.Végh). in Mark Gertler and Kenneth S. Rogoff, eds. NBER Macroeconomics Annual 2004.  Cambridge, Mass: MIT Press, 11-53 (lead article).
Reprinted in:  
Revista de Ciencias Empresariales y Economia, Vol. 3, (Uruguay: Universidad de Montevideo, 2004), 9-54 (lead article).
Full dataset

Serial Default and the “Paradox” of Rich-to-Poor Capital Flows, (with Kenneth S. Rogoff).  American Economic Review, Vol. 94, No. 2, May 2004, 53-59.
Reprinted in: Hans Visser,ed. The International Library of Critical Writings in Economics, Edward Elgar Publishers,2011).

The Modern History of Exchange Rate Arrangements: A Reinterpretation (with Kenneth S. Rogoff). NBER Working Paper 8963, May 2002. Quarterly Journal of Economics, Vol. CXIX No. 1, February 2004, 1-48 (lead article).

The Unholy Trinity of Financial Contagion (with Graciela L. Kaminsky and Carlos A. Végh), Journal of Economic Perspectives, Vol. 17 No. 4, Fall 2003, 51-74.
Reprinted in: 
ICFAI Journal of International Finance (Andhra Pradesh, India: ICFAI University Press, 2004).
Reprinted in:
Mardi Dungey and Demosthenes Tambakis, Identifying International Financial Contagion: Progress and Challenges (New York: Oxford University Press, July 2005).
Reprinted in:
Franklin Allen and Douglas Gale, Financial Crises, (Cheltenham: Edward Elgar Publishing Ltd., 2007 forthcoming).

Debt Intolerance, (with Kenneth S. Rogoff and Miguel A. Savastano), Brookings Papers on Economic Activity, Vol.1 Spring 2003, 1-74 (lead article).
Reprinted as:  La Intolerancia a la Deuda, El Trimestre Económico, Mexico, Vol. LXXVI (4), Issue 304, (octubre-diciembre, 2009), 811-884 (lead article).

Twin Fallacies About Exchange Rate Policy in Emerging Markets,  (with Vincent R. Reinhart), Moneda y Crédito Vol. 216, 2003, 11-29 (lead article).
Reprinted in (abridged): Ekonomika, Bulletin of the Malaysian Economic Association, August 2003. 

Financial Liberalisation: The African Experience, (with Ioannis Tokatlidis), Journal of African Economies, Vol. 12 Supplement 2, 2003, 53-88. 

Fear of Floating, (with Guillermo A. Calvo). Quarterly Journal of Economics, Vol. CXVII No. 2, May 2002, 379-408, (lead article).
Selected by: ISI Essential Science Indicators (Web of Science) as the Fast Breaking Paper in Economics and Business-Comment by Carmen M. Reinhart, April 2004.

Financial Markets in Times of Stress, (with Graciela L. Kaminsky), Journal of Development Economics, Vol. 69 No. 2, December 2002, 451-470.
Default, Currency Crises, and Sovereign Credit Ratings, World Bank Economic Review, Vol. 16 No. 2, 2002, 151-170 (lead article).

FDI to Africa: The Role of Price Stability and Currency Instability (with Kenneth S. Rogoff), in Boris Pleskovic and Nicholas Stern, eds. Annual World Bank Conference on Development Economics 2002: The New Reform Agenda, (Washington, DC:  World Bank/Oxford University Press), 247-82.

Temporary Controls on Capital Inflows, (with R.Todd Smith), Journal of International Economics, Vol. 57. No. 2, August 2002, 327-351.

Ratings, Rating Agencies and the Global Financial System:  Summary and Policy Implications, (with Richard Levich and Giovanni Majnoni) in Richard Levich, Giovanni Majnoni, and Carmen M. Reinhart eds. Ratings, Rating Agencies and the Global Financial System  (New York: Kluwer Academic Press, 2002), 1-16.

Sovereign Credit Ratings Before and After Financial Crises, in Richard Levich, Giovanni Majnoni, and Carmen M. Reinhart, eds. Ratings, Rating Agencies and the Global Financial System, (New York: Kluwer Academic Press, 2002), 251-268.
Reprinted as: Tsao Rong Xiang, ed. Country Risk and Economic Stabilization in Developing Countries, (China: Social Sciences Documentation Publishing House, 2003).

Stopping Hot Money, (with Hali Edison) Journal of Development Economics, Vol. 66 No. 2, December 2001, 533-553.
Reprinted in: Hans Singer, Neelambar Hatti  and Rameshwar Tandon eds. New World Order Series Vol. 23 Newly Industrializing Countries After the Asian Crisis, (New Delhi: BR Publishing Co., December 2004).

Capital Controls During Financial Crises: The Case of Malaysia and Thailand, (with Hali Edison), in Reuven Glick ed. Financial Crises in Emerging Markets (Cambridge: Cambridge University Press, 2001), 427-456.

What Hurts Most: G-3 Exchange Rate or Interest Rate Volatility? (with Vincent R. Reinhart) in Sebastian Edwards and Jeffrey Frankel, eds. Preventing Currency Crises in Emerging Markets (Chicago: University of Chicago Press for the NBER, 2001), 73-99.

Fixing for Your Life, (with Guillermo A. Calvo) in Susan Collins and Dani Rodrik, eds. Brookings Trade Forum 2000 (Washington, DC: Brookings Institution, 2000), 1-39, (lead article).

Reflections on Dollarization, (with Guillermo A. Calvo), in Alberto Alesina and Robert Barro (eds.), Currency Unions (Stanford: Hoover Institute Press, 2001), 39-47.

The Dynamics of Capital Movements to Emerging Economies During the 1990s (with Peter Montiel) in Stephany Griffith-Jones, Manuel Montes, and Anwar Nasution eds. Short-term Capital Flows and Economic Crises, (Oxford: Oxford University Press, 2001), 3-28 (lead article).

Bank Lending and Contagion: Evidence from the Asian Crisis, (with Graciela L. Kaminsky), in Takatoshi Ito and Anne Krueger, eds. Regional and Global Capital Flows: Macroeconomic Causes and Consequences, (Chicago: University of Chicago Press for the NBER, 2001), 73-99.

On Crises, Contagion, and Confusion, (with Graciela L. Kaminsky), Journal of International Economics, Vol. 51 No. 1, June 2000, 145-168.
Reprinted in:  Dilip K. Das, ed. An International Finance Reader, (London and New York: Routledge Press, 2003).
Reprinted in: Geert Bekaert and Campbell Harvey, eds. Emerging Markets (Camberley: Edward Elgar Publishing, Ltd., 2004).
Reprinted in: 
Hans Singer, Neelambar Hatti, and Rameshwar Tandon eds. New World Order Series Vol. 23
Newly Industrializing Countries After the Asian Crisis, (New Delhi: BR Publishing Co., December 2004).

The Mirage of Floating Exchange Rates, American Economic Review, Vol. 90, No. 2, May 2000, 65-70.
Reprinted in:
Jorge F. Pérez-López, and José F. Alonso, eds. Cuba in Transition, Vol. 10, Papers and Proceedings of Association for the Study of the Cuban Economy (Washington DC: ASCE, 2000), 48-53.
Reprinted in:
Revisiting the Case for Flexible Exchange Rates, (Ottawa: Bank of Canada, November 2000), 351-360.

When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options, (with Guillermo A. Calvo) in Peter Kenen and Alexandre Swoboda, eds. Reforming the International Monetary and Financial System, (Washington DC: International Monetary Fund, 2000), 175-201.

Do Capital Controls Influence the Volume and Composition of Capital Flows? Evidence from the 1990s, (with Peter Montiel), Journal of International Money and Finance, Vol. 18 No. 4, August 1999, 619-635.

The Twin Crises: The Causes of Banking and Balance of Payments Problems, (with Graciela L. Kaminsky), Board of Governors of the Federal Reserve System International Finance Discussion Paper No. 544 (March 1996), American Economic Review, Vol. 89 No. 3, June 1999, 473-500.
Reprinted as:
Las crisis gemelas: las causas de los problemas bancarios y de balanza de pagos, Manuel Guitián and Félix Varela, eds. Sistemas Financieros ante la Globalización (Madrid: Ediciones Pirámide, 2000), 63-110.
Reprinted in:
Global Financial Crisis and Reforms: Cases and Caveats, B.N. Gosh ed., (London: Routledge Press, 2001), 9-47.
Reprinted in:
The Political Economy of Financial Crises, Roy E. Allen, ed., (Camberley: Edward Elgar Publishing, Ltd., November 2004).
Reprinted in:
New International Financial Architecture, Nouriel Roubini and Marc Uzan, eds. (Camberley: Edward Elgar Publishing, Ltd., 2006).
Reprinted in:
Franklin Allen and Douglas Gale, Financial Crises, (Cheltenham: Edward Elgar Publishing Ltd., 2007).
Full dataset

Saving in Latin America and Lessons from Europe: An Overview, (with William Plies), in Carmen M. Reinhart ed. Accounting for Saving: Financial Liberalization, Capital Flows, and Growth in Latin America and Europe (Washington DC: John Hopkins University Press for the Inter-American Development Bank, 1999), 3-47.

On the Use of Reserve Requirements in Dealing with the Capital-Flow Problem, (with Vincent R. Reinhart), International Journal of Finance and Economics, Vol. 4  No.1, January 1999, 27-54.

Measuring Intertemporal Substitution: The Role of Durable Goods, (with Masao Ogaki), Journal of Political Economy, Vol. 106 No. 5, October 1998, 1078-1098.

Intertemporal Substitution and Durable Goods: Long-Run Data, (with Masao Ogaki), Economics Letters, Vol. 61 No. 1, October 1998, 85-90.

Capital Flows and Saving in Latin America and Asia: A Reinterpretation, (with ErnestoTalvi),  Journal of Development Economics, Vol. 57 No. 1, October 1998, 45-66.

Too Much of a Good Thing: the Macroeconomic Effects of Taxing Capital Inflow, (with R.Todd Smith), in Reuven Glick, ed. Managing Capital Flows and Exchange Rates: Perspectives from the Pacific Basin, (Cambridge: Cambridge University Press, 1998), 436-464.

Some Lessons for Policy Makers Who Deal with the Mixed Blessing of Capital Inflows, (with Vincent R. Reinhart) in Miles Kahler, ed. Capital Flows and Financial Crises, Council on Foreign Relations Book (Ithaca, NY: Cornell University Press, 1998), 93-127.

Financial Crises in Asia and Latin America Different: Then and Now, (with Graciela L. Kaminsky),  American Economic Review, Vol. 88, May 1998, 444-449.
Reprinted in: Merrill Lynch Emerging Markets Debt Monthly, September 1998.
Reprinted as: Crisis financiera en Asia y Latinoamérica: ahora y entonces, Manuel Guitián and Félix Varela, eds. Sistemas Financieros ante la Globalización (Madrid: Ediciones Pirámide, 2000), 113-121.
Reprinted in: Nagendra V. Chowdhary ed. Financial Sector Reforms: An Indian Perspective  (India:  ICFAI University Press, 2006).

Leading Indicators of Currency Crises, (with Graciela L. Kaminsky and J. Saul Lizondo), IMF Working Paper WP/97/79, July 1997. IMF Staff Papers, Vol. 45 No. 1, March 1998, 1-48, (lead article).

Le Prix del’Argent: How (Not) to Deal with Capital Inflows, (with Patrick Asea),  Journal of African Economies, Vol. 5 No. 3, Supplement Part I, October 1996, 231-271.

Saving Behavior in Low- and Middle-Income Developing Countries: A Comparison, (with Masao Ogaki and Jonathan Ostry), IMF Staff Papers, Vol. 43 No. 1, March 1996, 38-71.

Capital Flows to Latin America: Is There Evidence of Contagion Effects? (with Sara Calvo), in Guillermo A. Calvo, Morris Goldstein, Eduard Hochreiter, eds. Private Capital Flows to Emerging Markets After the Mexican Crisis (Washington, DC: Institute for International Economics, 1996), 151-171.
First very different working paper version.
Reprinted in: New World Order Series Vol. 18 Adjustment in Latin America. Hans Singer, N.Hatti, Rameshwar Tandon eds., (New Dehli: Indus Publishing Co., 1998).

Capital Flows to Developing Countries in the 1990s: Causes and Effects (with Guillermo A. Calvo and Leonardo Leiderman), Journal of Economic Perspectives, Vol.10 No. 2, Spring 1996, 123-139.
Reprinted in:
Chris Milner ed., Developing and Newly Industrialising Countries, (United Kingdom: Edward Elgar Publishing Ltd., 1998), 135-151.
Reprinted in: Hans Visser,ed. The International Library of Critical Writings in Economics, Edward Elgar Publishers, 2011).

Capital Inflows to Latin America with Reference to the Asian Experience, (with Guillermo A. Calvo and Leonardo Leiderman), in Sebastian Edwards, ed. Capital Controls, Exchange Rates and Monetary Policy in the World Economy, (Cambridge: Cambridge University Press, 1995), 339-382.

Devaluation, Relative Prices, and International Trade: Evidence from Developing Countries, IMF Staff Papers, Vol. 42 No. 2, June 1995, 290-312.

The Demand for Money in Developing Countries: Assessing the Role of Financial Innovation, (with Patricio Arrau, José De Gregorio, and Peter Wickham), Journal of Development Economics, Vol. 46, 1995, 317-340.

Targeting the Real Exchange Rate: Theory and Evidence, (with Guillermo A. Calvo and Carlos A. Végh), Journal of Development Economics, Vol. 47, June 1995, 97-133. 
Reprinted  as: La Tasa de Cambio Real Como Meta de Política: Teoría y Evidencia, Ensayos Sobre Politica Economica, (Bogotá: Banco de la Republica, 1995), 1-24.

Nominal Interest Rates, Consumption Booms, and Lack of Credibility: A Quantitative Examination, (with Carlos A.Végh), Journal of Development Economics, Vol. 46 No. 2, April 1995, 357-378.

The Capital Inflows Problem: Concepts and Issues, (with Guillermo A. Calvo and Leonardo Leiderman), Contemporary Economic Policy, Vol. XII No. 3, July 1994, 54-66.
Reprinted in:  
International Center for Economic Growth Occasional Papers Number 56, (Panama City, Panama, ICS Press, August 1994).
Reprinted as:
“El Problema de la Afluencia de Capital,” Roberto Steiner, ed. Afluencia de Capitales y Estabilización en América Latina, (Bogotá: Tercer Mundo Editores, 1995), 1-24.

The Macroeconomic Determinants of Commodity Prices, (with Eduardo Borensztein), IMF Staff Papers, Vol. 41 No. 2, June 1994, 236-261.

Commodity Prices: Cyclical Weakness or Secular Decline? (with Peter Wickham), IMF Staff Papers, Vol. 41 No. 2, June 1994, 175-213 (lead article).

Capital Inflows to Latin America: The 1970s and 1990s,  (with Guillermo A. Calvo and Leonardo Leiderman), in Edmar Bacha, ed. Economics in a Changing World, Vol. 4 Development, Trade and the Environment, (London: Macmillan Press, 1994), 123-148.

Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors (with Guillermo A. Calvo and Leonardo Leiderman), IMF Staff Papers, Vol. 40 No. 1, March 1993, 108-151.
Reprinted as: "Afluencia de Capital y Apreciación del Tipo de Cambio Real en América Latina: El Papel de Factores Externos" in Mauricio Cárdenas and Luis Jorge Garay, eds. Macroeconomia de los Flujos de Capital en Colombia y América Latina, (Bogotá, Colombia: Tercer Mundo Editores, 1993), 15-84

Private Saving and Terms of Trade Shocks: Evidence from Developing Countries, (with Jonathan Ostry), IMF Staff Papers, Vol. 39 No. 3, September 1992, 495-517.

Output Fluctuations and Monetary Shocks: Evidence from Colombia, (with Vincent R. Reinhart), IMF Staff Papers, Vol. 38 No. 4, December 1991, 705-735.
Reprinted as: Fluctuaciones del Producto y Choques Monetarios: Evidencia Colombiana, Ensayos Sobre Politica Economica, No. 20, (Bogotá: Banco de la Republica, December 1991), 53-86.

Fiscal Policy, the Real Exchange Rate, and Commodity Prices, IMF Staff Papers, Vol. 38 No. 3, September 1991, 506-524.

A Model of Adjustment and Growth: An Empirical Analysis, in Mohsin S. Khan, Peter Montiel, and Nadeem Ul Haque, eds. Macroeconomic Models for Adjustment in Developing Countries, (Washington, DC: International Monetary Fund, 1991), 10-37 (lead article). 

A Model of Adjustment and GrowthIMF Staff Papers, Vol. 37 No. 1, March 1990, 168-182.

Private Investment and Economic Growth, (with Mohsin S. Khan), World Development, Vol. 18 No. 1, January 1990, 19-27.
Reprinted in: Hans Singer, Neelambar Hatti, Rameshwar Tandon eds. New World Order Series Vol. 11 Foreign Direct Investments, (New Delhi: Indus Publishing Co., 1991), 243-258.
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Project Syndicate Columns

The Perils of Debt Complacency, September 2016.

The Easy Money Contagion, August 2016.

What’s New About Today’sLow Interest Rates?, July 2016


Brexit’s Blow to Globalization, June 2016.


Argentina’s Eternal Debt Problem, May 2016.

The Post-Crisis Economy’s Long Debt Hangover, April 2016.

China’s Incompatible Goal, March 2016

Whose QE Was It Anyway?, February 2016.

The Return of the Currency Crash, January 2016

A year of Sovereign Defaults?, December 2015.

The Commodity Rollercoaster, November 14, 2015.

The Hidden Debt Burden of Emerging Markets, October 9, 2015.

Inflation, the Fed, and the Big Picture, September 3, 2015.

Venezuela’s Spectacular Underperformance, (with Kenneth S Rogoff), October 13, 2014.

Other Short Articles and Op-Eds

The Consequences of a Brexit, June 20. 2016.

What Greece Can Expect?’ Bloomberg View, July 9, 2015.

Are Negative Real Interest Rates the "New Normal"? Nikkei Asian Review, March 5, 2015.

"Sovereign-debt relief and its aftermath: The 1930s, the 1990s, the future," (with Christoph Trebesch), VOX EU, October 21, 2014.

“Debt, Growth, Interest Rates, and History, Bloomberg View, November 5, 2013.

 “Sorry, US Recoveries Aren’t Really Different,” (with Kenneth S Rogoff), Bloomberg View, October 15, 2012.

 Financial Repression Has Come Back to Stay  Bloomberg View, March 12, 2012.

“Europe in the Decade After the Fall,” Intereconomics: Review of European Economics Policy, Vol 46 No. 6, November 2011, 308-311.

“Financial Repression Redux”, Finance and Development, (with Jacob Kirkeegard and Belen Sbrancia), Vol. 48 No.2, June 2011.

“Japan Must Dip Into Its Rainy Day Fund,” (with Vincent R. Reinhart), Financial Times, March 24, 2011.

“Time to End the Denial Over Mortgage Debt,” (with Vincent R. Reinhart), Financial Times, Opinion, November 4, 2010.

Beware of Those Who Think the Worst is Past, (with Vincent R. Reinhart), Financial Times, Opinion, August 30, 2010.

5 Myths About the European Debt Crisis , (with Vincent R. Reinhart), Washington Post, May 9, 2010.

IMF roundtable: One promising feature,  The Economist Blog, February 21, 2010.

Why we should expect low growth amid debt, (with Kenneth Rogoff ), Financial Times,  ‎January 28, 2010‎. 

Why the banking crisis is far from over, (with Kenneth S. Rogoff), Newsweek, March 21, 2009

Rule of Four, New York Times Opinion, February 28, 2009

Playing down the price tag of the fiscal stimulus (with Vincent R. Reinhart), Washington Post, February 10, 2009

What Other Financial Crises Tell Us, (with Kenneth Rogoff), Wall Street Journal, February 2, 2009.

Calling for an International Regulator, (with Kenneth Rogoff) Financial Times, November 19, 2008.

Beware of Europeans Bearing Proposals, ( with Vincent Reinhart ) Baltimore Examiner, November 13, 2008

Watch Out for Sovereign Debt Risk, (with Kenneth S. Rogoff), Wall Street Journal: Opinion, June 24, 2008 and Livemint (WSJ India).

Some Perspectives on Capital Flows to Emerging Market Economies, NBER Reporter, Summer 2005, 8-10 and NBER profile.

The Realities of Modern Hyperinflation (with Miguel A. Savastano), Finance and Development, (Washington DC: International Monetary Fund, June 2003), 20-23.
Reprinted in: Inflation: Concepts and Experiences in Shilpa Rao, ed. (Dehli: The Institute of Chartered Financial Analysts of India, 2005).

Is a G-3 Target Zone on Target for Emerging Markets? (with Vincent R. Reinhart), Finance and Development, Vol. 39 No. 1, (Washington DC: International Monetary Fund, March 2002), 17-19.

Financial Crises, Credit Ratings, and Bank Failures: An Introduction, World Bank Economic Review, Vol. 16 No. 2, 2002, 149-151.

Capital Flow Reversals, The Exchange Rate Debate, and Dollarization, (with Guillermo A. Calvo), Finance and Development, Vol. 36 No.3, (Washington DC: International Monetary Fund, September 1999), 13-15.

Economic Growth and the Consequences of External Shocks in Sub-Saharan Africa: An Introduction, (with Patrick Asea), Journal of African Economies, Vol. 5  No. 3, Supplement Part I, October 1996, 1-6.

Saving and the Real Interest Rate in Developing Countries, (with Jonathan Ostry), Finance and Development, Vol. 32 No. 4, (Washington DC: International Monetary Fund, December 1995), 16-18.

Formulating a Policy Response: Reply to Snowden, (with Guillermo A. Calvo and Leonardo Leiderman), IMF Staff Papers, Vol. 40 No. 4, (December 1993), 865-868.

Output Fluctuations and Monetary Shocks: Evidence from Colombia: A Reply to García, (with Vincent R. Reinhart), IMF Staff Papers, Vol. 40 No. 4, (December 1993), 876-878.
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Vox EU

Lessons for Greece: Forcible Currency Conversions, 1982-2015, Vox EU, July 9, 2015.

 Sovereign-debt relief and its aftermath: The 1930s, the 1990s, the future? (with Christoph Trebesch), October 21, 2014.

Investment after crises: Asia 15 years later  (with Takeshi Tashiro), December 17,  2013.

The Capital Inflow "Problem" Revisited, (with Vincent R. Reinhart), VoxEU, February 25, 2011.

The Decade After the Fall: Diminished Expectations, Double Dips, and External Shocks (with Vincent R. Reinhart), September 13, 2010.

Do countries "graduate" from crises? Some historical perspective, (with Qian Rong, and Kenneth Rogoff), August 31, 2010.

Debt and Growth Revisited, (with Kenneth Rogoff) August 11, 2010.

Fiscal Stimulus for Debt Intolerant Countries? (with Vincent R. Reinhart), August 22, 2009.

The Economic and Fiscal Consequences of Financial Crises, January 26, 2009.
Reprinted in: Türkiye Ekonomi Kurumu,  January 29, 2009.

Is the US Too Big to Fail? (with Vincent R. Reinhart),. November 17, 2008.
Reprinted in: Türkiye Ekonomi Kurumu, November 23, 2008.

From Capital  Flow Bonanza to Financial Crash (with Vincent R. Reinhart), October 23, 2008.
Reprinted in: Türkiye Ekonomi Kurumu,  October 23, 2008.

The Next (but not new) Frontier for Sovereign Default, May 22, 2008.
Reprinted in: RGE Monitor, July 17, 2008.

Eight Hundred Years of Financial Folly, April 19, 2008.
Reprinted in: Economist's View, April 19, Market Pipeline, April 20, and Telos, April 24, and Journal of Regulation and Risk North Asia, Vols. II and II. Summer/Autumn, 71-75

Reflections on the International Dimensions and Policy Lessons of the U.S. Subprime Crisis, March 17, 2008.
Reprinted in:  The Turkish Weekly March 17, 2008.

Policy Papers

Investment after crises: Asia 15 years later  (with Takeshi Tashiro), December 17,  2013. Policy

Policy Papers

The Return of Financial Repression, in Banque de France Financial Stability Review  No.16, April, 2012

"Entrada de capitales y acumulación de reservas: evidencia reciente," (with Vincent R. Reinhart), Banco Central de Reserva del Perú, Revista Estudios Económicos 20, 48 - 11 (Diciembre 2010). Updated version of Capital Inflows and Reserve Accumulation:  The Recent Evidence, (with Vincent R. Reinhart), NBER Working Paper 13842, March 2008. 
Featured in:  NBER Digest, (Cambridge: NBER, November, 2008).

"Financial Turmoil: Systemic or Regional?" (with Graciela L. Kaminsky). Risk Measurement and Systemic Risk, Proceedings of the Third Joint Central Bank Research Conference, (Basle: Bank of International Settlements, October 2002).

Growth and External Financing in Latin America (with Guillermo A. Calvo, Eduardo Fernandez-Arias, and Ernesto Talvi), IDB Working Paper 457. Prepared for What is Holding Back Growth in Latin America and the Caribbean? What Should Governments Do? Annual Meetings of the Board of Governors, Inter-American Development Bank and Inter-American Investment Corporation, Santiago de Chile, March 18, 2001.

The Growth-Interest Rate Cycle in the United States and its Consequences for Emerging Markets, (with Guillermo Calvo, Eduardo Fernández-Arias, and Ernesto Talvi, Prepared for  What is Holding Back Growth in Latin America and the Caribbean? What Should Governments Do? Annual Meetings of the Board of Governors, Inter-American Development Bank and Inter-American Investment Corporation, Santiago de Chile, March 18, 2001

The Consequences and Management of Capital Inflows: Lessons for Sub-Saharan Africa, (with Guillermo A. Calvo), Expert Group on Development Issues Series, 1998:2, (Stockholm: Almqvist and Wiksell International, 1999).

Dealing with Capital Flows: Are There Any Lessons? (with Steven Dunaway), United Nations University/WIDER Research for Action 28, 1996.

Capital Flows in the APEC Region, (with Mohsin S. Khan), IMF Occasional Paper 122, (Washington DC: International Monetary Fund, April 1995).

The Behavior of Non-Oil Commodity Prices, (with Eduardo Borensztein, Mohsin S. Khan, and Peter Wickham), IMF Occasional Paper 112, (Washington, DC: International Monetary Fund, August 1994).

Capital Inflows to Latin America, (with Leonardo Leiderman) in A Study Group Report-Latin America Capital Flows: Living with Volatility, (Washington DC: Group of Thirty, 1994).

Comments

Financial Crash, Commodity Prices and Global Imbalances (by Ricardo Caballero, Emmanuel Farhi, Pierre-Olivier Gourinchas) Brookings Papers on Economic Activity, 9.

For Better or for Worse? Job and Earnings Mobility in Nine Middle- and Low-Income Countries (by Suzanne Duryea, Gustavo Márquez, Carmen Pagés, and Stefano Scarpetta) in Brookings Trade Forum 2006, Susan Collins and Carol Graham, eds. (Washington DC:  Brookings Institution, 2006), 204-207.

Fiscal Solvency and Macroeconomic Uncertainty in Emerging Markets:  The Tale of the tormented Insurer (slides) (by Enrique Mendoza) and Currency Mismatch, Uncertainly and Debt Structure," (by Matthieu Bussiere and Marcel Fratzscher) in Dollars, Debts, and Deficits: 60 Years After Bretton Woods (Madrid: Banco de España).

New Approaches to Crisis Resolution: Weighing the Options, (by Barry Eichengreen, Kenneth Kletzer, and Ashoka Mody), in Brookings Trade Forum 2003, Susan Collins and Dani Rodrik, eds., (Washington DC:  Brookings Institution, 2003), 338-348.

Fundamental Determinants of the Asian Crisis: The Role of Financial Fragility and External Imbalances, (by Giancarlo Corsetti, Paolo Pesenti, and Nouriel Roubini), in Takatoshi Ito and Anne Krueger, eds. Regional and Global Capital Flows: Macroeconomic Causes and Consequences, (Chicago: University of Chicago Press for the NBER, 2001), 42-45.

Private inflows when crises are anticipated: a case study of Korea, (by Michael Dooley and Inseok Shin) in Reuven Glick ed. Financial Crises in Emerging Markets (Cambridge: Cambridge University Press, 2001).

Capital Flows to Emerging Markets: Liberalization, Overshooting and Volatility, (by Philippe Bachetta and Eric Van Wincoop) in Sebastian Edwards, ed. Capital Flows and the Emerging Economies: Theories, Evidence, and Controversies, (Chicago: University of Chicago Press for the NBER, 2000), 98-103.

Political Contagion in Currency Crises, (by Alan Drazen) in Paul Krugman, ed., Currency Crises (Chicago: University of Chicago Press for the NBER, 2000), 67-70.

Capital Flows to Developing Economies: Implications for Saving, Investment, and Growth," (by Barry Bosworth and Susan Collins) Brookings Papers on Economic Activity, No. 1, June 1999, 170-176.

Some Parallels Between Currency and Banking Crises, (by Nancy Marion) in Peter Isard, Assaf Razin and Andrew Rose, eds. International Finance and Financial Crises:  Essays in Honor of Robert P. Flood Jr., (London: Kluwer Academic Press, 1999), 19-23.

Book Reviews

The Fearful Rise of Markets: A Short View of Global Bubbles and Synchonised Meltdowns, (by John Authers), Financial Times , June 5, 2010.

Straining at the Anchor:  The Argentine Currency Board and the Search for Macroeconomic Stability, 1880-1935, (by Gerardo de la Paolera and Alan M. Taylor), Journal of Economic Literature, Vol. XLII, No. 1, March 2004, 187-226.
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Working Papers, Current Research, and Chartbooks

Do Exchange Rate Based Stabilizations Carry the Seeds of Their Own Destruction?, (with Carlos A. Végh).  MPRA Paper 8952, University Library of Munich, Germany.

Intertemporal Consumption Substitution and Inflation Stabilization: An Empirical Investigation. (with Carlos A.Végh), University of Maryland, Papers in International Economics No. 3, 1993.

Real Exchange Rates and Commodity Prices in a Neoclassical Model, IMF Working Paper WP/88/55, June 1988.

Current Research and Chartbooks

"Two Hundred Years of Sovereign Haircuts," (with Josefin Meyer and Christoph Trebesch).

“The International Monetary Fund:  Seventy Years of Reinventing Itself” (with Christoph Trebesch) paper being prepared for the Journal of Economic Perspectives.

"Capital Controls: Myth and Reality, A Portfolio Approach" (with Nicolas Magud and Kenneth S. Rogoff), NBER Working Paper 16805, February 2011. Under revision.

"From Financial Repression to External Distress: The Case of Venezuela." (with Miguel Angel Santos), HKS Faculty Research Working Paper Series RWP15-018, April 2015.


“Does Reserve Accumulation Crowd Out Investment?” (with Vincent Reinhart and Takeshi Tashiro), HKS Faculty Research Working Paper Series RWP15-038, July 2015.

 Asia Chartbook: Crises, Credit and Debt, 1835-2013, NBER Working Paper 19645, November 2013. Companion piece to NBER WP 19642.

This Time is Different Chartbook: Country Histories on Debt, Default, and Financial Crises, NBER Working Paper 15815, March 2010. in a Decade of Debt, (Washington, DC: Peterson Institute for International Economics, 2011).
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