Published Research Articles

Journal of International Money and Finance 105, April 2020

Replicating and Projecting the Path of COVID-19 with a Model-Implied Reproduction Number

Infectious Disease Modelling 5, 2020, 635-651 (with Shelby Buckman, Kevin Lansing, Nicolas Petrosky-Nadeau, and Lily Seitelman)

Unconventional Monetary Policy and the Dollar: Conventional Signs, Unconventional Magnitudes

International Journal of Central Banking 14(5), December 2018, 103-152 (with Sylvain Leduc)

Currency Unions and Regional Trade Agreements: EMU and EU Effects of Trade

Comparative Economic Studies 59(2), June 2017, 194-209

Conditional PPP and Real Exchange Rate Convergence in the Euro Area

Journal of International Money and Finance 73, May 2017, 78-92 (with Paul Bergin and Jyh-Lin Wu)

Currency Unions and Trade: A Post-EMU Reassessment

European Economic Review 87, August 2016, 78-91 (with Andrew Rose)

Mussa Redux and Conditional PPP

Journal of Monetary Economics 68, November 2014, 101-114 (with Paul Bergin and Jyh-Lin Wu)

Asset Class Diversification and Delegation of Responsibilities between Central Banks and Sovereign Wealth Funds

International Journal of Central Banking 10(3), September 2014, 129-161 (with Joshua Aizenman)

China’s Financial Openness and Asset Return Linkages in East Asia

In Oxford Handbook of the Economics of the Pacific Rim, ed. by Inderjit Kaur and Nirvikar Singh, Oxford University Press, 2014, Ch. 25 (with Michael Hutchison)

Models of Currency Crises

In The Evidence and Impact of Financial Globalization, ed. by Gerard Caprio, Elsevier, December, 2013, Ch. 33 (with Michael Hutchison).

China’s Financial Linkages with Asia and the Global Financial Crisis

Journal of International Money and Finance 39, December 2013, 186-206 (with Michael Hutchison)

The Micro-Macro Disconnect of Purchasing Power Parity

Review of Economics and Statistics 95(3), May 2013, 798-812 (with Paul Bergin and Jyh-Lin Wu)

Central Bank Announcements of Asset Purchases and the Impact on Global Financial and Commodity Markets

Journal of International Money and Finance 31(8), December 2012, 2078-2101 (with Sylvain Leduc)

The Illusive Quest: Do International Capital Controls Contribute to Currency Stability?

International Review of Economics and Finance 20(1), January 2011, 59-70 (with Michael Hutchison)

The Emerging Market Architecture: What's Old and What's New?

Journal of International Money and Finance 29(4), June 2010 (with Joshua Aizenman and James Lothian)

Endogenous Tradability and Some Macroeconomic Implications

Journal of Monetary Economics 56(8), November 2009, 1086-1095 (with Paul Bergin)

Sterilization, Monetary Policy, and Global Financial Integration

Review of International Economics 17(4), September 2009, 777-801 (with Joshua Aizenman)

Navigating the Trilemma: Capital Flows and Monetary Policy in China

Journal of Asian Economics 20(3), May 2009, 205-224 (with Michael Hutchison)

Sovereign Wealth Funds: Stylized Facts about their Determinants and Governance

International Finance 12(3), Winter 2009, 351-386 (with Joshua Aizenman)

Macroeconomic Effects of International Trade

In The New Palgrave Dictionary of Economics, ed. by Steven Durlauf and Lawrence Blume, Palgrave Macmillan, 2008, 2nd ed.

Pegged Exchange Rate Regimes–A Trap?

Journal of Money, Credit, and Banking 40(4), June 2008, 817-835 (with Joshua Aizenman)

A Model of Endogenous Nontradability and its Implications for the Current Account

Review of International Economics 15(5), November 2007, 916-931 (with Paul Bergin)

Tradability, Productivity, and International Economic Integration

Journal of International Economics 73(1), September 2007, 128-151 (with Paul Bergin)

Global Price Dispersion: Are Prices Converging or Diverging?

Journal of International Money and Finance 26(5) , September 2007, 703-729 (with Paul Bergin)

Currency Crises, Capital Account Liberalization, and Selection Bias

Review of Economics and Statistics 88(4), November 2006, 698-714 (with Xueyan Guo and Michael Hutchison)

Productivity, Tradability, and the Long-Run Price Puzzle

Journal of Monetary Economics 53(8), November 2006, 2041-2066 (with Paul Bergin and Alan Taylor)

Military Expenditure, Threats, and Growth

Journal of International Trade and Economic Development 15(2), June 2006, 129-155 (with Joshua Aizenman)

Capital Controls and Exchange Rate Instability in Developing Countries

Journal of International Money and Finance 24(3), April 2005, 387-412 (with Michael Hutchison)

Does a Currency Union Affect Trade? The Time Series Evidence

European Economic Review 46(6), June 2002, 1125-1151 (with Andrew Rose)

Is Money Still Useful for Policy in East Asia?

In Inflation Targeting: Theories, Empirical Models, and Implementation in Pacific Basin Economies, Proceedings of 14th Pacific Basin Central Bank Conference, Bank of Korea, 2002 (with Ramon Moreno)

Fixed versus Flexible Exchange Rates: Is It Possible to Manage in the Middle?

In Financial Markets and Policies in East Asia, ed. by Gordon de Brouwer, New York: Routledge Press, 2001

Banking and Currency Crises: How Common Are Twins?

In Financial Crises in Emerging Markets, ed. by Reuven Glick, Ramon Moreno, and Mark Spiegel, New York: Cambridge University Press, 2001, Ch. 2, 35-69 (with Michael Hutchison)

Foreign Reserve and Money Dynamics with Asset Portfolio Adjustment: International Evidence

Journal of International Financial Markets, Institutions, and Money 10(3-4), December 2000, 229-247 (with Michael Hutchison)

Contagion and Trade: Why Are Currency Crises Regional?

Journal of International Money and Finance 18(4), August 1999 (Andrew K. Rose)

Money and Credit, Competitiveness, and Currency Crises in Asia and Latin America

In Monetary Policy and the Structure of the Current Account. Proceedings of 13th Pacific Basin Central Bank Conference, Mexico City: Bank of Mexico, 1999 (with Ramon Moreno)

Thoughts on the Origins of the Asia Crisis: Impulses and Propagation Mechanisms

In The Asian Financial Crisis: Origins, Implications, and Solutions, ed. by William Hunter, George Kaufman, and Thomas Krueger, Boston: Kluwer Academic Publishers, 1999, Ch. 5, 35-61

Contagion and Trade: Explaining the Incidence and Intensity of Currency Crises

In The Asian Financial Crises: Causes, Contagion, and Consequences, ed. by Richard Agenor, Marcus Miller, David Vines, and Axel Weber, New York: Cambridge University Press, 1999 (with Andrew Rose)

Is Pegging the Exchange Rate a Cure for Inflation? East Asian Experiences

In Exchange Rate Policies for Emerging Market Economies, ed. by Richard Sweeney, Clas Wihlborg, and Thomas Willett, Westview Press, 1999 (with Michael Hutchison and Ramon Moreno)

The East Asian Miracle: Growth Because of Government Intervention and Protectionism or in Spite of It?

Business Economics, April 1997 (with Ramon Moreno)

Exchange Rate Regimes and International Trade

In International Trade and Finance: New Frontiers for Research, Essays in Honor of Peter B. Kenen, ed. by Benjamin Cohen, New York: Cambridge University Press, 1997 (with Clas Wihlborg)

Real Exchange Rate Effects of Monetary Disturbances under Different Degrees of Exchange Rate Flexibility: An Empirical Analysis

Journal of International Economics 38(3-4), May 1995 (with Peter Kretzmer and Clas Wihlborg)

Global versus Country-Specific Productivity Shocks and the Current Account

Journal of Monetary Economics 35(1), February 1995 (with Ken Rogoff)

Capital Flows and Monetary Policy in East Asia

In Monetary and Exchange Rate Management with International Capital Mobility: Experiences of Countries and Regions along the Pacific Rim. Proceedings of 11th Pacific Basin Central Bank Conference, Hong Kong: Hong Kong Monetary Authority, 1995 (with Ramon Moreno),

Foreign Exchange Intervention and Sterilization Dynamics in Japan

In International Financial Markets in Northeast Asia: Assessments and Prospects, ed. by Sang-Woo Nam and Hak-Kil Pyo, Korea Development Institute and Institute of World Economy, 1994

Monetary Policy, Intervention, and Exchange Rates in Japan

In Exchange Rate Policy and Interdependence: Perspectives from the Pacific Basin, ed. by Reuven Glick and Michael Hutchison, New York: Cambridge University Press, 1994 (with Michael Hutchison)

Fiscal Policy in Monetary Unions: Implications for Europe

Open Economies Review 4(1), January 1993 (with Michael Hutchison)

Fiscal Constraints and Incentives with Monetary Coordination: Implications for Europe 1992

In Financial Regulation and Monetary Arrangements after 1992, ed. by Clas Wihlborg, Michele Fratianni, and Thomas Willett, Amsterdam: North-Holland, 1992 (with Michael Hutchison),

Equilibrium Adjustment with Endogenous Information and Inventories

International Economic Review, November 1991 (with Clas Wihlborg)

Japanese Capital Outflows in the 1980s

FRBSF Economic Review, Spring 1991

New Results in Support of the Fiscal Policy Ineffectiveness Proposition

Journal of Money, Credit, and Banking, August 1990 (with Michael Hutchison)

Real Exchange Rate Effects of Monetary Shocks under Fixed and Flexible Exchange Rates

Journal of International Economics, May 1990 (with Clas Wihlborg)

Financial Liberalization in the Pacific Basin: Implications for Real Interest Rate Linkages

Journal of the Japanese and International Economies, March 1990 (with Michael Hutchison)

Economic Integration and Fiscal Policy Transmission: Implications for Europe 1992

FRBSF Economic Review, Winter 1990 (with Michael Hutchison)