"Self-Fulfilling Risk
Panics," American Ecnoomic
Review, forthcoming (with C. Tille and E. van Wincoop)
"Regulating Asset Price Risk," American
Economic Review, Papers and Proceedings 101, 410-412, May 2011 (with C.
Tille and E. van Wincoop)
"Infrequent Portfolio Decisions: A Solution to
the Forward Discount Puzzle,” American Economic Review 100, 837-869,
2010 (with E. van Wincoop) Technical Appendix
“Exchange Rate Volatility
and Productivity Growth: The Role of Financial Development,” Journal of
Monetary Economics 56, 494-513, 2009 (with Ph. Aghion, R. Rancière, and K.
Rogoff)
"Predictability in Financial Markets:
What Do Survey Expectations Tell Us?" Journal
of International Money and Finance 28, 406-426, 2009 (with
“Higher Order Expectations in Asset Pricing,” Journal
of Money, Credit, and Banking 40, 837-866, 2008 (with E. van Wincoop)
“Random Walk Expectations and the Forward
Discount Puzzle,” American Economic Review, Papers and Proceedings,
97, 346-350, May 2007 (with E. van Wincoop) Version
with Technical Appendix
“Can Information Heterogeneity Explain the Exchange Rate Determination
Puzzle?” American Economic Review 96, 552-576, 2006 (with E.
van Wincoop)
“A Theory of the Currency Denomination of
International Trade,” Journal of International Economics 67,
295-319, 2005 (with E. van Wincoop)
“A Corporate Balance-Sheet Approach to Currency
Crises,” Journal of Economic Theory 119,
6-30, 2004 (with Ph. Aghion and A. Banerjee)
“A Scapegoat Model of Exchange Rate
Fluctuations,” American Economic Review, Papers and Proceedings, 94,
114-118, May 2004 (with E. van Wincoop) Version
with Technical Appendix.
“Financial Development and the Instability of
Open Economies,” Journal of Monetary Economics 51, 1077-1106, 2004 (with
Ph. Aghion and A. Banerjee)
“Why Do Consumer Prices React less than Import Prices to Exchange Rates?”
Journal of the European Economic Association, Papers
and Proceedings, 1, 662-670, 2003 (with E. van Wincoop). Version with Technical Appendix.
“Currency Crises and Monetary Policy in a
Credit-Constrained Economy,” European Economic Review 45, 1121-1150,
2001 (with Ph. Aghion and A. Banerjee)
“Does Exchange Rate Stability Increase Trade
and Welfare?” American Economic Review 90, 1093-1109, 2000
(with E. van Wincoop)
“Do Capital Market Imperfections Exacerbate
Output Fluctuations?” European Economic Review 44, 449-468, 2000
(with R. Caminal)
“Exchange-of-Information Clauses in
International Tax Treaties,” International Tax and Public Finance,
Vol. 7, No. 3, 275-294, May 2000 (with M.P. Espinosa)
“Trade in Nominal Assets and Net
International Capital Flows,” Journal of International Money and
Finance, vol. 19, No. 1, 55-72, February 2000 (with E. van Wincoop)
“A Simple Model of Monetary Policy and
Currency Crises,” European Economic Review, Papers and Proceedings,
44, 728-738, 2000 (with Ph. Aghion and A. Banerjee)
"The Impact of Monetary Policy and Bank
Lending: Some International Evidence," Applied Financial Economics
10, 15-26, 2000. (with F. Ballabriga)
“Consumption and Credit Constraints:
International Evidence,” Journal of Monetary Economics 40, 207-238,
1997 (with
“Firm Restructuring and the Optimal Speed of
Trade Reform,”
“Exchange Rate Policy and Disinflation: The
Spanish Experience in the ERM,” The World Economy, vol. 20 No. 2,
221-238, March 1997
"Capital
Controls and the Political Discount: The Spanish Experience in the Late
1980s," Open Economies Review 7, 349-369, 1996
"Information Sharing and Tax Competition
among Governments," Journal of International Economics 39,
103-121, 1995 (with M.P. Espinosa)
"Sticky Import Prices and
J-curves," Economics Letters 44, 281-285, 1994 (with
"A Note on Reserve Requirements and
Public Finance," International Review of Economics and Finance,
vol. 3, N° 1, 107-118, 1994 (with R. Caminal)
"Optimal Seigniorage and Financial
Liberalization," Journal of International Money and Finance,
Vol.11, N° 6, 518-38,
1992 (with R. Caminal).
"Liberalization of Capital
Movements and of the Domestic Financial Sector," Economica,
59, 465-74, 1992
"Fiscal Deficits, Capital
Controls, and the Dual Exchange Rate," Revista Española de
Economía, Vol.9, No. 1, 31-51, 1992
"Temporary Capital Controls in a
Balance-of Payments Crisis", Journal of International Money and
Finance, Vol. 9, No.
3, 246-257, 1990
“Can Parameter Instability Explain the Meese-Rogoff
Puzzle?” in NBER International Seminar on Macroeonomics 2009,
125-173, 2010 (with E. van Wincoop and T. Beutler)
“Capital
Flows to Emerging Markets: Liberalization, Overshooting, and Volatility,” in S.
Edwards (ed.), Capital Flows and the Emerging Economies – Theory, Evidence,
and Controversies, The University of
“Capital
Flows, Output Volatility, and Financial Crises in Emerging Markets,” in Governance,
Equity and Global Markets – Proceedings of the Annual Bank Conference on
Development Economics in
“Financial
Liberalization and Volatility in Emerging Market Economies,” in P.R. Agénor, M.
Miller, D. Vines, and A. Weber (eds.), The Asian Financial Crises: Causes,
Contagion and Consequences,
"
"The
Lessons from Fiscal Reform in Democratic
"Abolishing
Capital Controls in
"National
Saving and International Investment", in D. Bernheim and J. Shoven
(eds.), National Saving and Economic Performance,
"How Far
Has the Dollar Fallen ?" Business Economics, October 1987,
35-39 (with M. Feldstein)
“Política monetaria con deuda
denominada en moneda extranjera,” Moneda y Crédito, No. 210, 69-105,
2000.
“La desaparición de la peseta:
aspectos macroeconómicos,” in A. Mas-Colell and M. Motta (eds), Nuevas
Fronteras de la Politica Economica, CREI, 1998, 77-110. (with M. Sebastián)
“La relación ahorro-inversión en
el proceso de integración económica y monetaria,” Papeles de Economía
Española, 70, 186-195, 1997. (with R. Martínez)
"Inversión regional y
crecimiento en la comunidad europea," in J.M. Esteban y X. Vives (eds.), Crecimiento
y convergencia regional en España y Europa, Vol. 2, Instituto de Análisis
Económico, 405-449, 1994.
"Transmisión de información
fiscal entre gobiernos por motivos estratégicos," Hacienda Pública
Española, 1994. (with M.P. Espinosa)
"Por que es necesaria una
devaluación de la peseta," in J. Pérez-Campanero (ed.), El
tipo de cambio de la peseta ante el Mercado Unico y la Unión Monetaria Europea,
Fedea y Ediciones Mundi-Prensa, Madrid, 47-62, 1992.
"Es deseable la coordinación
internacional de la imposición sobre el capital?," Moneda y Crédito,
No. 192, 1991. (with R. Caminal)
"La política presupuestaria
en la Unión Económica y Monetaria," Papeles de Economía Española,
48, 1991. (with R. Caminal)
"Ahorro, inversión y
movilidad de capitales," Moneda y Crédito, No. 191, 13-40, 1990.
"Política macroeconómica y
mercado único," Hacienda Pública Española, April 1990. (with
R. Caminal).
Edited
volumes and journals
“Taxation of
Financial Income,” Journal of Public Economics 87, Jan. 2003. Edited with
Roger Gordon
“Lessons of
Intranational Economics for International Economics,” Journal of
International Economics 55, October 2001. Edited with Andy Rose and Eric
van Wincoop
Economic
Policy in
"Mercados y Tipos de Cambio
- Presentación," Cuadernos Económicos de ICE 53, 1993.