Policy Papers

“The Return of Financial Repression,” Banque de France Financial Stability Review, No. 16, April 2012, 37-48.

 "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).