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This page only reports a selection of papers by each author. A complete list of publications is usually available on the author's personal homepage. If you have written on the euro and EMU, and wish to be listed below, please send me an email specifying the address of your homepage, and a list of titles. My address is:

Economists on EMU (alphabetically listed) Back to index


  Disturbing the Fiscal Theory of the Price Level: Can it Fit the EU-15
 Disturbing the fiscal theory of the price level: Can it fit the eu-15?
 Fiscal policy sustainability: some unpleasant European evidence
 Government indebtedness and european consumers behaviour
 Non-Keynesian Effects of Fiscal Policy in the EU-15
 Understanding the Determinants of Government Debt Ratings: Evidence for the Two Leading Agencies

Global Equilibrium Exchange Rates: Euro, Dollar, 'ins', 'outs',  and Other Major Currencies in a Panel Cointegration Framework
    with Cervero, Lopez and Udibe, IMF

 Alberto Alesina
 Why Doesn't the United States Have a European-Style Welfare State?
 Endogenous Political Institutions
 Institutional Rules for Federations
 The Political Economy of International Unions
 What Does the European Union Do?
 Political Jurisdictions in Heterogeneous Communities
 Currency Unions
 Conflict, Defense Spending and the Number of Nations
 Fiscal Policy, Profits and Investment
 Redistribution Through Public Employment: The Case of Italy

Philip Arestis
    'The Causes of Euro Instability', with Andrew Brown and Malcolm  Sawyer (chapter 5 in Arestis and Sawyer's forthcoming book 'The Euro: Evolution and Prospects', Edward Elgar).
    "An Alternative Stability Pact for the European Union," with  Kevin McCauley and Malcolm  Sawyer, March 2000,  Jerome Levy Institute w.p. no. 296,
    "The Economic and Monetary Union: Current and Future Prospects" with  Malcolm  Sawyer, October 1999,  Jerome Levy Institute w.p. no. 282 282.pdf
    "From Common Market to EMU: A Historical Perspective of European Economic and Monetary Integration," with Kevin McCauley and Malcolm  Sawyer, February 1999, Jerome Levy Institute w.p. no. 263 263.pdf

Ivo Arnold
Monetary Convergence after German Reunification, Evidence from Regional Data, mimeo Universiteit Nyenrode, August 1999
The Regional Effects of Monetary Policy in Europe, mimeo Universiteit Nyenrode, November 1999
with Jan Lemmen The Vulnerability of Banks to Government default risk in the EMU  sp0115 July 1999
The Third Leg of the Stool: Financial Stability as a Prerequisite for EMU  sp0114 June 1999
Endogenous financial structure in the EMU, (with C.G. de Vries), Tinbergen Institute Discussion Paper, nr. 99021
The euro, prudent coherence?, (with C.G. de Vries), Tinbergen Institute Discussion Paper, TI 98-070/2


Philippe Bacchetta
     "A Theory of the Currency Denomination of International Trade' Eric van
     Wincoop (Nov 2001)
     "A Corporate Balance-Sheet Approach to Currency Crises" Philippe Aghion and Abhijit Banerjee (Nov 2001)
     Does exchange rate stability increase trade and welfare? with  Eric van Wincoop
     " A Simple Model of Monetary Policy and Currency Crises". with Philippe Aghion, and Abhijit Banerjee
     "Capital Markets and the Instability of Open Economies". with Philippe Aghion, and Abhijit Banerjee
     "Capital Flows to Emerging Markets: Liberalization, Overshooting and Volatility". with Eric van Wincoop

 David Backus
 Oil Prices and the Terms of Trade (with Crucini) (NBER link)

Fabio Bagliano
    see Carlo Favero

Professor Robert J. Barro
 "Is Prosperity Next to Godliness?" Dec 2001
 "Why the War Against Terror Will Boost the Economy"  Nov 2001
 "Why the U.S. Economy Will Rise Again"  Oct 2001
  "How's Bush Doing? A Six-Month Report Card"  Aug 2001
 "Argentina's Cavallo May not Play the Hero this Time"  May 2001
 "Boy, We Really Need a Tax Cut"  Feb 2001
"The Dollar Club: Why Countries Are So Keen to Join" Dec 2000
 "Privatizing Social Security: Where Both Sides go Wrong" Jul 2000
 "Is the Market Too High or Too Low? Maybe a Little of Both," Jun 2000
 "With Friends Like Opec, Who Needs..." May 2000
 "Mundell: The Man Who Laid the Groundwork for the Euro,"
 Notes on Optimal Debt Management

Charles R BEAN (LSE)
Financial frictions and the monetary transmission mechanism:  theory, evidence and policy implications,
with Jens Larsen and Kalin Nikolov, January 2002, (ECB Working  Paper No. 113), pdf 550 kB

 Beetsma, Roel M.W.J.
 Monetary and Fiscal Interactions in a Micro-founded model of a monetary union with H.Jensen    July 2002
A New Policy Mix after European Monetary Unification? with Henrik Jensen, mimeo, University of Amsterdam and University of Copenhagen.
"Why pay more? Corporate tax avoidance through transfer pricing in OECD countries"

David Begg
     The Design of EMU " Staff Studies for the World Economic Outlook, International Monetary Fund, December 1997.
__________, Jurgen von Hagen, Charles Wyplosz and Klaus Zimmerman, editors, EMU: Prospects and Challenges for the Euro, Economic Policy, No. 26, April 1998.

Iain Begg
     EMU and EMPLOYMENT Social models in the EMU: Convergence?      Co-existence? The role of economic and social actors Nov 2001
    The Euro: A Success Against the Odds?
    UK Jobs Dependent on the EU
    How to Pay for Europe?
    Regional Adjustment Mechanisms under EMU
    Reshaping the EU Budget: Yet another missed opportunity?
    Social Protection: the Achilles heel of EMU

Pierpaolo Benigno
Equilibrium exchnage rate and supply side performance with Thoenissen (Bank of England).August 2002.
"A Simple Approach to International Monetary Policy Coordination," forthcoming Journal of International Economics February 2000 draft
"Price Stability with Imperfect Financial Integration" Dec 2001
"Implementing Monetary Cooperation through Inflation Targeting" Oct 2001
"Inflation Persistence and Optimal Monetary Policy in the Euro Area"
"Price Stability in Open Economies"CEPR Discussion Paper No. 2757
"Optimal Monetary Policy in a Currency Area"   1999
"Managing the Public Debt in Fiscal Stabilizations: The Evidence"  2000 with A.Missale and F.Giavazzi
"How is the Debt Managed? Learning from Fiscal Stabilizations," 2000

Gianluca Benigno
see also Pierpaolo Benigno
    Real Exchange Rate Persistence with an Active Monetary Policy 1999

Helge Berger
    "How to Reduce Inflation: an Independent Central Bank or a Currency Board? The Experience of the Baltic Countries" (with Jakob de Haan and Erik van Frasssen), Emerging Markets Review, 2(3), 2001, pp.218-43. Download
"The German Political Business Cycle: Money Demand Rather Than Monetary Policy" (with Ulrich Woitek), European Journal of Political Economy, 17(3), 2001, pp. 609-31.Download
"Central Bank Independence: Update on Theory and Evidence" (with Sylvester Eijffinger and Jakob de Haan), Journal of Economic Surveys,   2001, 15(1), pp. 3-40. download
"News Management in Monetary Policy: When Central Banks Should Talk  to the Government" (with Marcel Thum), German Economic Review , 2000, 1(4), pp. 465-93. Download
    "The Bundesbank's Reaction to Policy Conflicts" (with Friedrich Schneider), in: Jakob de Haan (ed.), 50 Years of Bundesbank: Lessons for the ECB, London: Routledge (forthcoming). Download
    "A State within a State? An Event Study on the Bundesbank" (with Jakob de Haan), Scottish Journal of Political Economy (forthcoming). Download
    "The Bundesbank´s Path to Independence. Evidence from the 1950´s", Public Choice, 93, 1997, pp. 427-453."The Bundesbank´s Path to Independence. Evidence from the 1950´s", Public Choice, 93, 1997, pp. 427-453. Download

Paul Bergin
     "Fiscal Solvency and Price Level Determination in a Monetary Union" 1998

J.M. Berk and P. van Bergeijk
      Is the yield curve a useful information variable for the  Eurosystem?, February 2000, (ECB Working Paper No. 11) pdf 241 kB

Ben Bernanke
Should Central Banks Respond to  Movements in Asset Prices asset.doc
Monetary Policy in a Data-Rich Environment data.doc

Lorenzo Bini Smaghi
    How Can the ECB be Credible? (abstract)

Nils Bjorksten
     Real Convergence in the enlarged euro area a coming challenge for monetary policy 2000

Olivier Blanchard
 "The EU Enlargement, and Immigration from Eastern Europe"
 Macroeconomic Effects of Regulation and Deregulation in Goods and Labor Markets
 The Perverse Effects of Partial Labor Market Reform: Fixed Duration Contracts
 What Hides Behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets
 What Hides Behind an Unemployment Rate: Comparing Portuguese and U.S. Labor Markets
 Data Appendix
 Wage Dynamics: Reconciling Theory and Evidence
 The Aggregate Evidence
 Data and Appendix
 The Role of Shocks and Institutions in the Rise of European Unemployment
 Revisiting European unemployment: Unemployment, capital accumulation, and factor prices
 Country Adjustments within Euroland. Lessons after Two Years
 In the Footsteps of Arthur Burns: The Decrease in U.S. GDP Volatility
 Bubbles, Liquidity Traps, and Monetary Policy
 Automatic Fiscal Stabilizers
 An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output

Tito Boeri
Lectures on European Labor Market (2001):
 Enlargement to the East, Policy Options in the West PDF
 Political Constraints to Reforms and Institutional Trade-offs PDF
 Regional/International mobility of labour PDF
 How different from the US? Power point
 Taxes and Labour PDF
 From Welfare to Work Power point
 Less Pension, More Welfare with Perotti
  EMU Labour Markets Two Years On: Microeconomics Tensions and Instutional Evolution with Bertola
 Social Policy Models in Transition: Why so Much Different One of Another?
 Eastern Enlargement and EU-Labour Markets: Perceptions, Challenges and Opportunities with Brucker
 Structural Change, Welfare Systems and Labour Reallocation,

Michael Bordo
     International Rescues versus Bailouts: An Historical Perspective (Cato Institute, 10 98)

Bill Brainard
    A classic: "Uncertainty and the Effectiveness of Policy", AER 1967  Article

Claus Brand
Estimating the trend of M3 income velocity underlying the  reference value for monetary growth,with D. Gerdesmeier and B. Roffia,May 2002 (ECB Occasional Paper No. 3), pdf 331 kB
A money demand system for euro area M3, Claus Brand and Nuno  Cassola, November 2000, (ECB Working Paper No. 39 pdf 1080 kB

Willem Hendrik Buiter
    "Optimal Currency Areas: Why Does the Exchange Rate Regime Matter? With an Application to UK Membership in EMU" October 26 1999
    "Monetary Misconceptions" a speech given at the Aberdeen Chamber of Commerce, October 27, 1999.
    "Six Months in the Life of the Euro; What Have We Learnt?"
    The EMU and the NAMU: What is the Case for North American Monetary Union?
    "Liquidity Traps: How to Avoid Them and How to Escape Them"
    Reply to Dr. Issing's letter (on tranparency)
    Sunday Telegraph Article
    Britain and EMU
    Alice in Euroland dealing with procedural and other challenges facing the ECB/ECSB.  The piece contains at least twenty policy recommendations and is written in a robust style.

Michael Burda
     European Labor Markets and the Euro:
     "Product Market Regulation and Labor Market Outcomes: How can Deregulation Create Jobs?"
     "Wages and Worker Displacement in Germany"

Marco Buti
    EMU's fiscal Rules: What can and cannot be exported. with Gabriele Giudice,April 2002.
    Public Finances in EMU-2000 (May 2000)
    M. Buti and A. Sapir (eds.), Economic Policy in EMU A Study by the European Commission Services (OUP, 1998)
    Palgrave: Catalogue Page - The Behaviour of Fiscal Authorities: Stabilisation, Growth and Institutions A book by Marco Buti with Jürgen von Hagen and Carlos Martinez Mongay
    Palgrave: Catalogue Page - The Stability and Growth Pact: he Architecture of Fiscal Policy in EMU Abook by Marco Buti with Anne Brunila and Daniele Franco


Lars Calmfors
    "Unemployment, Labour-Market Reform and Monetary Union", (PDF)
    "Macroeconomic Policy, Wage Setting and Employment - What Difference Does the EMU Make?", (PDF)
     "Monetary Union and Precautionary Labour-Market Reform", (PDF)

Guillermo Calvo
     Notes on Price Stickiness: With Special Reference to Liability Dollarization and Credibility Dec 2000
     Capital Market And The Exchange Rate With Special Reference to the Dollarization Debate in Latin America. Apr 2000
     Fear of Floating (with C. Reinhart) Sep 2000
     Testimony On Dollarization  Jun 2000
     The Case for Hard Pegs
     Capital Flow Reversals, the Exchange Rate Debate, and Dollarization (with C. Reinhart), September 1999
     When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options (with C. Reinhart), June 29, 1999
     Public Debt And The Macroeconomy 1999
     Contagion In Emerging Markets: when Wall Street is a carrier 1999 technical supplement to Understanding The Russian Virus (with special reference to Latin America) 1998
     Argentina's Dollarization Project: A Primer
     Rational Contagion and the Globalization of Securities Markets (with E.Mendoza)
     Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops July 20, 1998

Matthew B. Canzoneri
     Productivity Trends in Europe Implications for Real Exchange  Rates, Real Interest Rates & Inflation, (with R. Cumby, B. Diba, and G. Eudey), Current Draft: May 2000.
     Interest Rate Rules and Price Determinacy  the Role of Transactions Services of Bonds," (with B. Diba), Current Draft: Nov. 2000.
     Monetary Policy in Models with Sticky Prices and Non-Ricardian           Fiscal Policy, (with B. Diba), First Draft: May 2000.
     Stability and Growth Pact Revisited  A Delicate Balance or an Albatross?, (with B. Diba), Current Draft, July 2000.
     The Spread Between the CCAPM Interest Rate and the Treasury-bill  Rate Is Correlated with Monetary Policy, (with R. Cumby and B. Diba), First Draft: November 2000.
     Notes on Models with Monopolistic Competition and Sticky Prices  (and/or Wages) (with R. Cumby and B. Diba), a student primer,  Current Draft: August 31, 2001.
     Appendices to Notes  (same co-authors), Current Draft: July 31, 2001.
     The Need for International Policy Coordination  What's Old,  What's New, What's Yet to Come?, (with R. Cumby and B. Diba), First Draft: November 2001.
  The need for international policy coordination: What's old, what's new, what's yet to come with Cumby and Diba 2002
    Is the Price Level Determined by the Needs of Fiscal Solvency? March 1998  with Robert E. Cumby e Behzad T. Diba

Alessandra Casella
     Games for Central Bankers: Markets v/s politics in public policy decisions
Jan 2000
     Market Mechanisms for Policy Decisions: Tools for the European Union. Oct 2000
     Tradable Deficit Permits: Efficient Implementation of the Stability Pact in the European Monetary Union. March 1999

Francesco Caselli
     Bad politicians with Massimo Morelli   Aug 2001
    The World Technology  Frontier with John Coleman  Sep 2000
     Cross-Country Technology Diffusion: The Case of Computer with John Coleman   May 2001
 Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries. (With Alberto Giovannini and Timothy Lane). IMF Working Paper. April 1998.
    How Regions Converge (With John Coleman). University of Chicago. September 1998.

Cavallari Lilia
     Inflation and openness with non-atomistic wage-setters   Nov 1999
     Current account and exchange rate dynamics  Jan 2000
     Economic Interdependence across the Atlantic: National or European Dollar Policy? (con Giuseppe De Arcangelis) December 1998. PDF version

Stephen Cecchetti
    Legal Structure, Financial Structure and the Monetary Transmission Mechanism  FEB 1999
    Price Level Convergence Among United States Cities: Lessons for the European Central Bank (PDF) Stephen Cecchetti, Nelson C. Mark, Robert Sonora January 1999

V.V. Chari
    On the Need for Fiscal Constraints in a Monetary Union   PDF (Adobe Acrobat) file with Pat Keho

Menzie Chinn
     "The Euro and the Productivity Puzzle: An Alternative Interpretation," mimeo (with Ron Alquist). Revised version, Dec. 15, 2001.
 Tracking the euro's progress 2000
    The empirical determinants of the euro: short and long run perspectives, March 2000

Richard Clarida
     Optimal monetary policy in open versus closed economies: an integrated approach by Richard Clarida, Jordi Gali, and Mark Gertler
     "G3 Exchange Rate Relationships: A Recap of the Record and a Review of Proposals for Change"
     The Science of Monetary Policy: A New Keynesian Perspective with J Gali and M Gertler

Larry Christiano
     Money Growth Monitoring and the Taylor Rule  joint with Massimo Rostagno.
   Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy
 joint with Martin Eichenbaum and Charles Evans.
   How Severe is the Time Inconsistency Problem in Monetary Policy?
with Stefania Albanesi and V.V. Chari.
     Expectation Traps and Monetary Policy  with Stefania Albanesi and V.V. Chari.
     The Conventional Treatment of Seasonality in Business Cycle Analysis: Does it Create Distortions? with Richard Todd.
     Understanding the Fiscal Theory of the Price Level with Terry J. Fitzgerald.
     The Expectations Trap Hypothesis  with Christopher Gust.
     Habit Persistence, Asset Returns and the Business Cycle
     Chaos, Sunspots and Automatic Stabilizers joint with Sharon Harrison
    Monetary Policy Shocks: What Have We Learned and to What End? joint with Martin Eichenbaum and Charles Evans.

John H. Cochrane
     The Fed and Interest Rates -- A High Frequency Identification  with Monika Piazzesi. Jan 2002
     Bond Risk Premia  with Monika Piazzesi. Oct 2001
     International Risk Sharing is Better Than You Think (Or Exchange Rates are Much Too Smooth) with Michael Brandt and Pedro Santa Clara. Jul 2001
     Money as Stock   Jun 2001.
     The risk and return of venture capital   Dec 2000.
    "Long term debt and optimal policy in the fiscal theory of the price level"
    "A Frictionless model of U.S. Inflation"
    "What do the VARs Mean?: Measuring the Output Effects of Monetary Policy" Journal of Monetary Economics 41:2 April 1998 277-300 (Revision of NBER WP 5154 June 1995)

Russell Cooper
     Estimation and Identification of Structural Parameters in the Presence of Multiple Equilibria Dec 2001
     "Financial Fragility and Active Monetary Policy: A Lesson from the Great Depression"     May 2000
     "Establishing a Monetary Union" Feb 2000
     "Financial Fragility in a Monetary Economy: Positive Implications and Policy Prescriptions"
 "On the Gains to Monetary Union"
"Designing Stabilization Policy in a Monetary Union"

Giancarlo Corsetti
     Completely revised version of the paper by G Corsetti M Pericoli and M Sbracia (March 2002): Some Contagion, Some Interdependence: More Pittfalls In Tests of Financial Contagion
     International Dimensions of Optimal Monetary Policy with Paolo Pesenti (revised Feb 2002).
     Self-validating optimum currency areas with Paolo Pesenti   Jan 2002
     Feeling the Impact of the EuroCurrency  Dec 2001
     Some Contagion, Mostly interdependence: more pittfalls in tests of financial contagion  Nov 2001
     The Macroeconomics of International Price Discrimination  Oct 2001, revised Jan 2002
     Does one Soros make a difference?  Sep 2001
     Fiscal Imbalances and the Dynamics of Currency Crises with Bartosz Mackowiak   Nov 2001
Optimal Interest Rate Rules and Exchange Rate Pass-Through by Giancarlo Corsetti and Paolo Pesenti  2000
The (past and) future of European Currencies with P. Pesenti. Presented at the conference "The Future of National Currencies", Santiago de Chile, January 18-19, 2000.
    Stability, Asymmetry and Discontinuity: the outset of European Monetary Union with  Paolo Pesenti. Preliminary and incomplete draft, prepared for the September 1999 Brookings Panel, forthcoming on Brookings Papers on Economic Activity, December 1999.

Does one Soros make a difference? The role of a large trader in currency crises with Stephen Morris and Hyun Song Shin
     "Can the Ins hurt the Outs? A Welfare Analysis of International Fiscal Links", with P Pesenti
     Competitive Devaluations: a welfare based approach with P Pesenti, N Roubini and C. Tille
     Financial Markets and European Monetary Cooperation. The Lessons of the 1992-93 ERM Crisis, with W. Buiter and P. Pesenti, Cambridge University Press, 1998
     W Buiter, G Corsetti and P Pesenti: "Interpreting the ERM crisis" Princeton Studies in International Finance 1998

Coutinho Leonor
    International Monetary Transmission after EMU April 2000

A. Cukierman
     Endogenous Monetary Policy with Unobserved Potential Output with F.Lippi,  Nov 2001
      Long-run growth, the minimum wage and other labor market institutions with M. Rama and J. van Ours   Mar 2001
      Choosing the Width of Exchange Rate Bands-Credibility versus Flexibility
M. Kiguel, L. Leiderman and Y. Spiegel  Jan 2000
      When is the Median Voter Paradigm a Reasonable Guide for Policy Choices in a Representative Democracy? with  Y. Spiegel   Mar 2001
 Are contemporary Central Banks Transparent about Economic Models and Objectives
     The Inflation Bias Result Revisited , January 1999.
      Does a Higher Sacrifice Ratio Mean that Central Bank Independence is Excessive? , December 1998.
     Accountability, Credibility, Transparency and Stabilization Policy in the Eurosystem September 1999.
    Central Bank Independence, centralization of wage bargaining, inflation and unemployment. Theory and some evidence with F Lippi

    "Labor Markets and Monetary Union: A Strategic Analysis" with F Lippi (July 1999), also published as CEPR     DP2236
pdf. file


Phil Davis
    Pension Fund Reform and  European Financial Markets sp0107*  Nov 1998

Olivier De  Bandt
     Working paper n°85 Optimal Capacity in the Banking Sector and Economic Growth, Bruno Amable, Jean-Bernard Chatelain, and Olivier De Bandt (in English)
    Systemic risk: A survey, Olivier De  Bandt and Philipp Hartmann,  November 2000, (ECB Working Paper No. 35), pdf 884 kB

Marcello De Cecco
    A European Central Bank? Perspectives on Monetary Unification after Ten Years of the EMS. with Alberto Giovannini CEPR Books
    The Lender of Last Resort, October 1998. PDF version

Paul De Grauwe
    "Economics of Monetary Union", Oxford University Press. Fourth Edition. Less importance is attached on issues of transition into EMU, and much more on the operation of EMU. New topics include:

*       The monetary policy strategy of the ECB

*       Monetary policies in an asymmetric environment

*       Independence and accountability of the ECB

*       Is the Eurosystem too decentralised?

*       Banking supervision in Euroland

*       The future of the euro as an international currency

*       The euro and financial integration

    The European Central Bank: Decision Rules and Macroeconomic Performance, (with Hans Dewachter and Yunus Aksoy), 
CEPR Discussion Paper 2067, 1999.CES Discussion Paper Series DPS 98.33., 1998 Download
    The European Central Bank: Decision Rules and Macroeconomic Performance, (with Hans Dewachter and Yunus Aksoy),

    The Economics of Monetary Integration, 3rd Edition, Oxford University Press, 1997.

Marco Del Negro
    "Has Monetary Policy Been So Bad That It Is Better to Get Rid of It? The Case of Mexico" Marco Del Negro and Francesc Obiols-Homs   Nov 2000
 Full text in PDF
    "Aggregate Risk Sharing Across US States and Across European Countries" pdf
    "Risk Sharing Across US States and European Countries: An Empirical Puzzle."  pdf
    "Asymmetric Shocks Across US States and Across European Countries. An 'Identified' Factor Analysis Model"  pdf
    US regional data

Michael B. Devereux
     ``Exchange Rate Pass-Through and the Welfare Effects of the Euro",
with Charles Engel and Cedric Tille, forthcoming IER
     "Monetary Policy, Exchange Rate Flexibility, and Exchange Rate Pass-through" Jan 2001,
     The Macroeconomic Effects of International Financial Panics with David Cook,  Revised Jan 2001
     "Predetermined Prices the Effects of Money on Output", with James Yetman, May 2001,Revised Dec 2001
     Exchange Rate Regime and Monetary Policy Rules for Emerging Markets
with Philip Lane, Revised June 2001
     "International Risk-sharing and the Exchange Rate: Reevaluating the case for flexible exchange rates", June 2001
     "Endogenous Currency of Pricing in a Dynamic Open Economy Model",
with Charles Engel, June 2001
     "Capital Flows, Capital Controls, and Exchange Rate Policy", with David Cook, July 2001
     "Financial Constraints and Exchange Rate Flexibility in Emerging Market Economies" July 2001
     "Understanding Bilateral Exchange Rate Volatility"  with Philip Lane, Sep 2001
   ``A Simple Dynamic General Equilibrium Model of the Trade-off between Fixed and Floating Exchange Rates'' Aug 1999
     ``Welfare Effects of the Euro in the World Economy'', with Engel and Tille, 1999
     ``International Monetary Policy Coordination and Competitive Depreciation: A Re-Evaluation'' with C. Betts, 1999

Avinash Dixit
     "On the Role of Good Faith in Insurance Contracting," with Pierre Picard. Jan 2002
     "On Modes of Economic Governance."  Sep 2001
     "Incentive Contracts for Faith-Based Organizations to Deliver Social Services." Jan 2002
     Equilibrium Contracts for the Central Bank of a Monetary Union by Avinash Dixit and Henrik Jensen 2000
     "Fiscal Discretion Destroys Monetary Commitment"  with Luisa Lambertini
     "Symbiosis of Monetary and Fiscal Policies in a Monetary Union," with Luisa Lambertini.August 1999
     "Equilibrium contracts for the European central banker."
     "A repeated game model of the EMU."
     "Political power and the credibility of government debt," with John Londregan.

Rudi Dornbusch
 A Primer on Emerging Market Crises [January] 2001
 Fewer Monies, Better Monies [December] 2000
 Italian Labor ForceParticipation: Disguised Unemployment on Campus [October]
 A Century of Unrivalled Prosperity [July] 1999
 Emerging Market Crises: Origins and Remedies [July]
 What Future for International Financial Institutions [May]
 The Euro: Implications for Latin America [March]
 After Asia: New Directions For The International Financial System [July] 1998
 Capital Controls An Idea Whose Time is Gone [March]
 Fiscal Aspects of Monetary Integration [January] 1997
 Europe's Squeaky Wheel (June) 2001
 The ECB Credibility Deficit [October] 2000
 The Misaligned Euro [October]
 New Economy and US Social Performance [October]
 European Union Englargment [August]
 New Economy - No Requiem Yet [June]
 Euro Troubles [May]
 Millenium Resolution: No More Funny Money [January]
 East Germany: 10 Years of Unification With a Vengeance [January]

Allan Drazen
     The Political Business Cycle After 25 Years
     Interest Rate Defense Against Speculative Attack Under Asymmetric Information
     Political Contagion in Currency Crisis
     Towards a Political-Economic Theory of Domestic Debt


 Sebastian Edwards
 This Argentine scheme FT Jan 21 2002 Read
 Dollarization, Inflation and Growth (Joint withI. Igal Magendzo)  October, 2001
 Does the Current Account Matter? June, 2001
 Dollarization: Myths and Realities, June, 2001 (Forthcoming in Journal of Policy Modeling)
 Exchange Rate Regimes, Capital Flows and Crisis Prevention April, 2001
Volatility Dependence, and Contagion in Emerging Equity Markets
January, 2001

Martin Eichenbaum
   Understanding the Effects of a Shock to Government Purchases, joint with Wendy Edelberg and Jonas Fisher.
   Some Thoughts on Practical Stabilization Policy.

Barry Eichengreen
    (A) Policy Papers by Barry Eichengreen:
     Crisis Resolution: Why We Need a Krueger-Like Process to Obtain a Taylor-Like Result Apr 2002.
     "The Euro One Year On,"
     "Solving the Currency Conundrum,"
     "EMU: The Road Ahead
     "Europe's Role in International Financial Markets After EMU,"
     "EMU: Its Implications for Europe,"
     "Will EMU Work?"
    (B) Books by Barry Eichengreen:
     European Monetary Unification: Theory, Practice, Analysis
     Forging an Integrated Europe (edited with Jeffrey Frieden)

Charles Engel
  "Monetary Policy in the Open Economy Revisited: Exchange Rate Flexibility and Price Setting Behavior," (with Michael B. Devereux) Posted December 5, 2001 Appendix
 "Exchange Rate Pass-Through, Exchange Rate Volatility, and Exchange Rate Disconnect," (with Michael B. Devereux) Revision posted February 6, 2002
 "The Responsiveness of Consumer Prices to Exchange Rates And the Implications for Exchange-Rate Policy: A Survey of a Few Recent New Open-Economy Macro Models" Revision posted December 28, 2001
 "Endogenous Currency of Price Setting in a Dynamic Open Economy Model" (with Michael B.Devereux)
 "The Adjustment of Prices and the Adjustment of the Exchange Rate" (with James C. Morley)
 "Currency Unions and International Integration" (with Andrew K. Rose) forthcoming, Journal of Money, Credit and Banking
 "Exchange-Rate Pass-through and the Welfare Effects of the Euro," (with Michael B. Devereux and Cedric Tille) forthcoming, International Economic Review
 "Deviations from Purchasing Power Parity: Causes and Welfare Costs," (with John H. Rogers), Journal of International Economics 55, October 2001, 29-57.


Gabriel Fagan
An area-wide model (AWM) for  the euro area, Gabriel Fagan, Jerome Henry, Ricardo Mestre,  January  2001, (ECB Working Paper No. 42) pdf 3760 kB

Carlo A. Favero
    Policy papers
    The Transmission Mechanism of Monetary Policy in Europe: evidence from Banks' Balance Sheets NBER Working paper n.7231, July 1999 (with Francesco Giavazzi and Luca Flabbi).
    An evaluation of monetary policy transmission in the context of the European Central Bank A Report to the European Parliament, April 13, 1999 (with Francesco Giavazzi).
    Measuring Monetary Policy in Open Economies IGIER Working paper n.133, July 1998 (with Fabio C. Bagliano and Francesco Franco).
    Modeling and identifying central banks' preferences (with Riccardo Rovelli) download PDF version
     Measuring Monetary Policy with VAR Models: an Evaluation (with Fabio Bagliano) July 1998
    Information from financial markets and VAR measures of monetary policy (with Fabio Bagliano) July 1998

 Martin S. Feldstein
     Europe Can't Handle the Euro February 8, 2000 Wall Street Journal
     Martin Feldstein -- "The European Central Bank and the Euro: The First Year"
     The case for raising rates Boston Globe, June 22, 1999
     Ireland's euro struggle Boston Globe, with Kathleen Feldstein, January 5 1999
     The Euro Risk  Time Magazine, January 25, 1999
      The Euro and Price Stability Boston Globe, December 15, 1998
     Europe's Great Leap of Faith The New York Times, January 4, 1999
     Europe's New Challenge to America  The New York Times, May 7, 1998
     EMU and International Conflict Foreign Affairs, November/December 1997

Kristin Forbes
    The Asian Flu and Russian Virus: Firm-level Evidence on How Crises are Transmitted Internationally Paper Download
    No Contagion, Only Interdependence: Measuring Stock Market Co-Movements (joint with Roberto Rigogon) Paper
    Measuring Contagion: Conceptual and Empirical Issues (joint with Roberto Rigobon)  Paper

Michele Fratianni

Jeffrey Frankel
Jeffrey A.Frankel, Member - Council of Economic Advisers
 Implications of EMU for the US
After Argentina:  "No Right Answer?"  The Economist Global Agenda,
Jan 2002
 "Impacts of the Euro on Members and Non-Members," and "Keynote Address," The European Conference Centre, Luxembourg, 3-4 December 1998. In The Euro as a Stabilizer in the International Economic System, Robert Mundell and Armand Clesse, editors, Kluwer Academic Publishers, Norwell MA, 2000, 93-109 and 418-422.

Jeff Frieden
     "The Political Economy of The Euro as an International Currency [from Robert Mundell & Armand  Clesse, eds., The Euro as a  Stabalizer in theInternational Economic System, ch. 12 (Kluwer Academic Publishers, 2000)]
     "The Political Economy of European Exchange Rates: An Empirical Assessment" August 1998
     "The Euro: Who Wins? Who Loses?"  Foreign Policy, September 1998

Michael Funke
    Macroeconomic Shocks in Euroland vs the UK: Supply, Demand, or Nominal? [Paper]


Jordi Gali
 Markups, Gaps, and the Welfare Costs of Economic Fluctuations (with M. Gertler and J.D.López-Salido)
 Technology Shocks and Monetary Policy: Assessing the Fed's Performance (with J.D.López-Salido and J. Vallés) February 2002.
 New Perspectives on Monetary Policy, Inflation, and the Business Cycle forthcoming in Advances in Economic Theory, edited by M. Dewatripont, L. Hansen, and S. Turnovsky, 2001, Cambridge University Press.
 Monetary Policy in the Early Years of EMU
 The Conduct of Monetary Policy in the Face of Technological Change: Theory and Postwar U.S. Evidence
 Targeting Inflation in an Economy with Staggered Price Setting  forthcoming in Inflation Targeting: Design, Performance, Challenges, edited by Norman Loayza and Raimundo Soto, Central Bank of Chile, Santiago, Chile.
 European Inflation Dynamics with Gertler and Lopez-Salido
 Optimal Monetary Policy and Exchange Rate Variability in a Small Open Economy with Tommaso Monacelli (1999)

Peter Garber
    The Target Mechanism: Will It Propagate or Stifle a Stage III Crisis? 1998

Pietro Garibaldi
What Do Unions Do to the Welfare State? a report for the Second Annual Conference of the Fondazione RDB Full Text. joint with Agar Brugiavini, Richard Freeman, Bernhard Ebbinghaus, Bertil Holmlund and Thierry Verdier.
 Anatomy of Employment Growth with Paolo Mauro 2001

Mark Gertler
     Monetary Policy Rules in Practice: Some International Evidence.  European Economic Review  42 (6), June 1998, pp. 1033-1067.
     European Inflation Dynamics  European Economic Review 45(7), June 2001, pp.1237-1270.
    "The Science of Monetary Policy: A New Keynesian Perspective," Richard Clarida, Jordi Gali and Mark Gertler (September 1997, revised January 1999) Download and view paper

Petra M. Geraats
Why adopt transparency? The publication of central bank   forecasts, Petra M. Geraats,  January 2001, (ECB Working Paper No. 41)  pdf 370 kB

Fabio Ghironi
 EMU and Enlargement " with Barry Eichengreen, BC Econ. Dept. WP 481; first draft: November 2000; this draft: May 2001. (Before May 2001, this paper circulated under the title "The Future of EMU" and contained more material on fiscal policy and less on some issues that pertain to EMU enlargement. You can access that version by clicking here. The first draft circulated as a solo paper with narrower focus under the title "EMU in 2010: Heterogeneity, Institutions, and Fiscal Policy.")
 EMU in 2010: Heterogeneity, Institutions, and Fiscal Policy
    U.S.-Europe Economic Interdependence and Policy Transmission International Research Function, Federal Reserve Bank of New York, November 1999.
    "Macroeconomic Tradeoffs in the United States and Europe:  Fiscal Distortions and the International Monetary Regime" with Barry Eichengreen.
    European Monetary Unification and International Monetary Cooperation , co-authored with Barry Eichengreen, published in Eichengreen, B., ed., "Transatlantic Economic Relations in the Post-Cold War Era," Brookings Institution Press, Washington, D.C., 1998.
    "Alternative Monetary Rules for a Small Open Economy: The Case of Canada" canada.pdf

Francesco Giavazzi
     EU Reforms for Tomorrow´s Europe (with R. Baldwin, E. Berglof and M. Widgrén), CEPR Discussion Paper No. 2623, November 2000.
     European Financial Markets After EMU A First Assessment (with Jean-Pierre Danthine, and Ernst-Ludwig von Thadden), NBER Working Paper No.8044, Dec 2000.
     Twelve is Company, Twenty-seven is a Crowd: Preparing the ECB for = Enlargement Richard E. Baldwin, Erik Berglof, Francesco Giavazzi and Mika Widgrén, September 2001.
     MECB UPDATE: 2001 by Alberto Alesina, Olivier Blanchard, Jordi Galì, Harald Uhlig and Francesco Giavazzi. London: CEPR, September 2001
     Macroeconomic effects of regulation and deregulation in goods and labor markets by Olivier Blanchard and Francesco Giavazzi NBER. Working Paper No. 8120, January 2001.
     Giavazzi - Recent Newspaper Articles (mostly in Italian)
     The Transmission Mechanism of Monetary Policy in Europe: evidence from Banks' Balance Sheets NBER Working paper n.7231, July 1999 (with Francesco Giavazzi and Luca Flabbi).
     Extracting Information from Asset Prices: the Methodology of EMU Calculators
     Searching for Non-Keynesian Effects of Fiscal Policy  IGIER Working paper n. 136, October 1998. (with Tullio  Jappelli, Marco Pagano).

Giorgia Giovannetti
     An EMU with Different Transmission Mechanisms? with R Marimon

Alberto Giovannini
    The Debate on Money in Europe (mitpress)

Reuven Glick
 "Does a Currency Union Affect Trade? The Time Series Evidence" (PDF - 348KB)
Federal Reserve Bank of San Francisco Working Paper 01-13 (September 2001). (With Andrew K. Rose.)

Linda Goldberg
Current Issues in Economics and Finance April 2002 Volume 8, Number 4: Securities Trading and  Settlement in Europe: Issues and Outlook, Linda Goldberg, John Kambhu, James M. Mahoney, Lawrence Radecki,  and Asani Sarkar. View PDF (64 KB)  View HTML version  Apr 2002.
"When is U.S. Bank Lending to Emerging Markets Volatile?",
"Exchange Rates and Wages", (with J Tracy)
"Employment Versus Wage Adjustment and the U.S. Dollar",
"Exchange Rate Pass-Through: A Macro or Micro Phenomenon", (with J Campa)

Charles Goodhart
     The Challenges Facing Currency Usage: Will the traditional transactions medium be able to resist competition from the new technologies? with Mathias Drehmann and Malte Krueger February 2002.
     Two Concepts of Money, And The Future of Europe sp0096 June 1997

Pierre Olivier Gourinchas
     Exchange Rates and Jobs: What Do We Learn From Job Flows 1998, NBER Macroeconomics Annual
     Exchange Rates Do Matter: French Job Reallocation and Exchange Rate Turbulence, 1984-1992, 1999

Vittorio Grilli
    The Benefit of Crises for Economic Reforms, with Allan Drazen, Article
    Fiscal Policies and the Choice of Exchange Rate Regime, with Gabriel de Kock, Article

Daniel Gros
       A Primer on the Balance Sheet of the Eurosystem , 23 Feb 1999, Centre For European Policy Studies (CEPS)
       EMU and Capital Markets AbstractDownload

Guiso Luigi
L. Guiso, A. K. Kashyap, F.  Panetta and D. Terlizzese, Will  a Common European Monetary Policy Have Asymmetric Effects? pdf - 351 kB pdf - 80 kB 2000


Koichi Hamada
    Economic consequences of pegging to the dollar in a multi-currency world 1999

Philipp Hartmann
Systemic risk: A survey, Olivier De  Bandt and Philipp Hartmann,  November 2000, (ECB Working  Paper No. 35), pdf 884 kB
    The euro and international capital  markets, with Carsten Detken, April 2000, (ECB Working  Paper No. 19), pdf 2017 kB
    The Future of the Euro as an International Currency: a Transactions Perspective sp0091*  November 1996
    Currency Competition and Foreign Exchange Markets

Harald Hau
 How has the Euro changed the Foreign Exchange Market with W. Killeen and M. Moore Feb 2002.
 Evidence on the Volatility Effect of a Security Transaction Tax with Anne Chevallier
     The Euro as an International Currency: Explaining Puzzling First Evidence by H Hau, W. Killeen and M. Moore
     Exchange Rate Volatility and Openness: Theory and Evidence

Seppo Honkapohja
    Performance of monetary policy with internal central bank forecasting,with Kaushik Mitra, February     2002, (ECB Working Paper No. 127) pdf 991 kB
Monetary policy, expectations and commitment,with George W.  Evans February 2002, (ECB Working Paper No. 124) pdf 654 kB
Learning stability in economics with heterogenous agents,with  Kaushik Mitra, January 2002, (ECB  Working Paper No.120 pdf 828 kB
Expectations and the stability problem for optimal monetary policies

Michael M. Hutchison
    European Banking Distress and EMU: Institution and macroeconomic risk File
    U. Michael Bergman and Michael M. Hutchison. "The Costs and Benefits of Joining EMU: Should the Outsiders Stay on the Periphery?", January 1998
    Predicting Banking Crises
    Japan's Banking Crisis (Japan Information Access Project);
    Bank Supervision and Financial Policy in Japan;



Olivier Jeanne
 The International Lender of Last Resort - How Large Is Large Enough? with Wyplosz, Charles; Research Department IMF 2001
 An Interest Rate Defense of a Fixed Exchange Rate? with Flood, Robert P.; Research Department IMF 2000

Henrik Jensen
    "Structural Convergence under Reversible and Irreversible Monetary Unification" (w. Roel M. W. J. Beetsma). CEPR Discussion Paper No. 2116.
     February 1999.
    "Risk Sharing and Moral Hazard with a Stability Pact" (w. Roel M. W. J.Beetsma). CEPR Discussion Paper No. 2167.May, 1999.
    "Targeting Nominal Income Growth or Inflation?" CEPR Discussion Paper No. 234.November 1999.
    "Optimal Degrees of Transparency in Monetary Policymaking." Mimeo, University of Copenhagen. February 2000.


Jinill Kim
 Spurious Welfare Reversals in International Business Cycle Models with Sunghyun Kim
 Patience, Persistence, and Welfare Costs of Incomplete Markets in Open Economies with Sunghyun Kim and Andy Levin
 Inflation Targeting and Nominal Income Growth Targeting: When and Why Are They Suboptimal? with Dale Henderson
 Exact Utilities under Alternative Monetary Rules in a Simple Macro Model with Optimizing Agents with Dale Henderson

Mervyn King
    The Inflation Target Five Years  On  sp0099* February 1998

Kenneth M. Kletzer
Sovereign Bond Restructuring: Collective Action Clauses and Official Crisis Intervention July 2002
"Monetary Union, Asymmetric Productivity Shocks and Fiscal Insurance: an Analytical   Discussion" June 1998. PDF file
"Macroeconomic Stabilization with a Common Currency: Does European Monetary Unification Create a Need for Fiscal Insurance or Federalism?," August 1997 revision PDF file
"Monetary Union and the Role of Automatic Stabilizers, with Willem H. Buiter, July 1996  PDF file

Randall S. Kroszner
     Obstacles to Optimal Policy: The Interplay of Politics and Economics in Shaping Banking Supervision and Regulation Reforms  December 1999, with Philip Strahan.
     Is the Financial System Politically Independent? Perspectives on the Political Economy of Banking and Financial Regulation June 1999.
     Bankers on the Boards: Monitoring, Conflicts of Interest, and Lender Liability  December 1999, with Philip Strahan.
     Testimony before the House Banking Committee on Bank Powers and Bank Mergers April 22, 1998
     Rethinking Bank Regulation: A Review of the Historical Evidence Journal of Applied Corporate Finance, 1998, pp, 48-58.

Paul Krugman
    Missing James Tobin, by Paul Krugman March 2002.
    The energy crisis revisited (March 2000)
    A dollar crisis?
    Paul Krugman: Bush's Aggressive Accounting PKArchive Feb 2002
    Paul Krugman: The Great Divide PKArchive  Jan 29 2002.
    A Fiscal Fantasy Jan 21 2002
    A System Corrupted The Enron debacle is not just the story of a company that failed; it is the story of  a  system that failed.NYTImes Jan 18 2002.
    We May Be Raising the Lid on Crony Capitalism in America IHT Jan 16 2002.
    Heaven is a weak euro   (6/3/99)
    The euro, living dangerously
    Monomoney mania (4/15/99)
    Can deflation be prevented? (2/21/99)
    The euro: beware of what you wish for
    But for, as if, and so what (a technical note on the effect of trade on wages)

 Anne Krueger
     New Approaches to Sovereign Debt Restructuring: An Update on Our Thinking April 2002.
     Transcript of a Teleconference on Sovereign Debt Restructuring Mechanism with Washington-based Journalists and First Deputy  Managing Director,Anne Krueger,April 2002.
     Should Countries like Argentina be able to Declare Themselves Bankrupt? Feb 2002.
     The Evolution of Emerging Market Capital Flows: Why We Need to Look Again at Sovereign Debt Restructuring Feb 2002.
     To make sovereign debt restructuring smoother, not to dictate the terms Interview with Anne Krueger, Feb 2002.
     Making the Most of the Euro - "Banking on the Euro: Leap of Faith or Act of Folly?" Dec 2001.


Luisa Lambertini
 Symbiosis of Monetary and Fiscal Policies in a Monetary Union with Avinash Dixit
 Interactions of Commitment and Discretion in Monetary and Fiscal Policies
    "Fiscal Discretion Destroys Monetary Commitment"  with Avinash Dixit
 Monetary-Fiscal Policy Interactions and Commitment Versus Discretion in a Monetary Union, with Avinash Dixit
 Fiscal Discretion Destroys Monetary Commitment, with Avinash Dixit
 Fiscal Incentives and Industrial Agglomeration, with Giovanni Peri

Philip Lane
Lane and Milesi-Ferretti:  The External Wealth of Nations: Measures of Foreign Assets and Liabilities for Industrial and Developing Nations 2000
     The Cyclical Behavior of Fiscal Policy: Evidence from the OECD November 1999
     "Pegging to the Dollar and the Euro" (with Patrick Honohan), International Fiannce, November 1999
     Will The Euro Stimulate More Monetary Unions in Africa? joint with Patrick Honohan. October 1999.
     "Asymmetric Shocks and Monetary Policy in a Currency Union.'' Scandinavian Journal of Economics.  PDF File
     Irish fiscal policy under EMU

Jan Lemmen
      "The Vulnerability of Banks to Government Default Risk in the EMU" 2001 with Ivo Alrnold
      "The Fundamental Determinants of Financial Integration in the European Union" with S.C.W. Eijffinger (1996)
     Integrating Financial Markets in the European Union,  Edward Elgar Publishing Limited 1998

Assar Lindbeck
    "The European Employment Problem", No. 616 by Assar Lindbeck, Acrobat Format (PDF)

L. Dedola and F. Lippi, The  monetary transmission mechanism: evidence from  the industries of five OECD countries pdf - 770 kB
"The monetary transmission mechanism: evidence from the industry data of five OECD countries", with Luca Dedola pdffile
Strategic Monetary Policy with Non-Atomistic Wage Setters: A case for Non-neutrality, June 1999
Central Bank Independence, centralization of wage bargaining, inflation and unemployment. Theory and some evidence with A Cukierman

Labor Markets and Monetary Union: a Strategic Analysis with A Cukierman

Richard K. Lyons
 The Microstructure Approach to Exchange Rates
Order Flow and Exchange Rate Dynamics Martin D.D. Evans and Richard K. Lyons August 1999 here
Portfolio Balance, Price Impact, and Secret Intervention Martin D.D. Evans and Richard K. Lyons June 2001 here


Gregory Mankiw
     "Government Debt" (with D. W. Elmendorf)
     "The Savers-Spenders Theory of Fiscal Policy"

Ugo Marani
    Is there a deflationary bias in European Economic Policies 2002
    The Monetary Policy of the ECB and the euro dollar exchange rate

Ramon Marimon
    Nominal Debt as a Burden to Monetary Policy  (with Giorgia Giovannetti and Pedro Teles)
    Competition and Reputation (with Juan Pablo Nicolini and Pedro Teles) comprep899.pdf
    Inside-Outside Money Competition (with Juan Pablo Nicolini and Pedro Teles)   Inside-Outside Money. . .
    An EMU with Different Transmission Mechanisms? (with Giorgia Giovannetti) transmission.pdf
    Policy Commitments and the Creation of EMU (with Giorgia Giovannetti and Pedro Teles) gmt0298.pdf
    The Fiscal Theory of Money as an Unorthodox Financial Theory of the Firm The Fiscal Theory of Money . . .
    Welfare Systems and Labour Markets in Europe: What Convergence before and after EMU? (with Giuseppe Bertola, Juan Francisco Jimeno and Christopher Pissarides)

Philippe Martin
    "Financial Integration and Asset Returns", (with Hélène Rey), 1999, PDF
    "Coordination, Cooperation, Contagion and Currency Crises", 1999, with Olivier Loisel, PDF
    "Financial Super-Markets: Size Matters for Asset Trade", 1999, with Hélène Rey. PDF

DAVID MAYES and JUHA TARKKA, Bank of Finland
     The Value of Publishing Official Central Bank Forecasts

Ronald McKinnon
Spend now, pay later Stanford University Read FT Feb 5 2002

Michael Melvin
     Before and After International Cross-Listing: An Intraday Examination of Volume and Volatility
     Exchange Rates and FOMC Days
     Public Information Arrival, Exchange Rate Volatility and Quote Frequency
     "Once-in-a-Generation" Yen Volatility in 1998: Fundamentals, Intervention, and Order Flow

Alan Metzler
    The Transmission Process

Ilian Mihov
 The Effects of Fiscal Policy on Consumption and Employment: Theory and Evidence with A Fatas
 Fiscal Policy in the EMU: Challenges of the Early Years
 Government Size and Automatic Stabilizers: International and Intranational Evidence with A Fatas
 Fiscal Policy and Business Cycles: An Empirical Investigation with A Fatas
 Measuring Monetary Policy with Ben  Bernanke Download a zipped file with the RATS program, data files, an overall indicator, and a readme file
 What Does the Bundesbank Target
 Liquidity Effect and Long-Run Neutrality with Ben Bernanke

GianMaria Milesi-Ferretti
    "Electoral Systems and the Composition of Public Spending" with Roberto Perotti and Massimo Rostagno

Frederic S. Mishkin
    "International Experiences With Different Monetary Policy Regimes", No. 648. Acrobat Format (PDF)

Benoît Mojon
Some stylised facts on the euro area business cycle,with Anna-Maria Agresti December 2001, (ECB Working Paper No. 95) pdf 710 kB
Financial structure and the interest rate channel of ECB monetary  policy, November 2000, (ECB Working  Paper No. 40) pdf 810 kB

Claudio Morana
Monetary policy and the stock market in the euro area,with Nuno Cassola January 2002, (ECB Working Paper No. 119), pdf 883 kB
Measuring core inflation in the euro  area, November 2000, (ECB Working Paper No. 36) pdf 860 kB

Robert Mundell
     "Euro and the Stability of the International Monetary System." Paper prepared for the Conference in Luxembourg, December 3, 1998.
    "The International Monetary System in the 21st Century: Could Gold Make a Comeback?"  Center for Economic Policy Studies, St. Vincent College, Latrobe, PA. 1997.
     "The European Monetary System 50 Years after Bretton Woods: A Comparison Between Two Systems." Siena: Monte dei Paschi di Siena. 1997.



Maury Obstfeld
"Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics"
 PDF August 2002.
"Perspectives on OECD Economic Integration: Implications for US  Current Account Adjustment" with  Kenneth Rogoff PDF
     "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?" with  Kenneth Rogoff PDF
    EMU: ready or not?             Figures    PDF-PDF-PDF-PDF-PDF
                                                Data        Figure 2   Figures 1, 4, and 5
    The Logic of Currency Crises (a classic on models of currency crisis)
    Data in "Regional Non-Adjustment and Fiscal Policy," with G Peri.
    downloadable zipped archive

Athanasios Orphanides
    Monetary policy rules, macroeconomic stability and inflation: a  view from the trenches, by Athanasios Orphanides, December 2001, (ECB Working Paper No. 115) pdf 578 kB


Padoan, Piercarlo
     The G-7 Agenda: Old and New Issues
     Transatlantic Perspectives on the Euro by Henning and Padoan

Fabio Panetta
    Why Do Banks Merge? with D. Focarelli, and C. Salleo, December 1999 pdf - 167 kB

Torsten Persson
    "Political economics and public finance", forthcoming in Auerbach, A. and M. Feldstein (eds.), Handbook of Public
Economics, North-Holland: Amsterdam, 1999 (with G. Tabellini). PDF format
"The size and scope of government: Comparative politics with rational politicians" NBER Working Paper No. 6848  G. Tabellini
"Towards micropolitical foundations of public finance,"  Link to full text

Roberto Perotti
     The Importance of Composition of Fiscal Policy: Evidence from Different Exchange Rate Regimes (with Phil Lane)
     Fiscal Policy in good times and bad

Paolo Pesenti
    The (past and) future of European Currencies with G. Corsetti. Presented at the conference "The Future of National Currencies", Santiago de Chile, January 18-19, 2000.
     "Can the Ins hurt the Outs? A Welfare Analysis of International Fiscal Links", with G Corsetti
     Competitive Devaluations: a welfare based approach with G Corsetti, N Roubini and C. Tille
     W Buiter, G Corsetti and P Pesenti: Financial Markets and European Monetary Cooperation. The Lessons of the 1992-93 ERM Crisis, Cambridge University Press, 1998
     W Buiter, G Corsetti and P Pesenti: "Interpreting the ERM crisis" Princeton Studies in International Finance 1998

 Piga Gustavo
  Derivatives and Public Debt Nov 2001
"Public Debt Management in the European Monetary Union", A report prepared for the European Commission, 2001.
 The Use of Derivatives by Sovereign Borrowers in Developed Economies , CFR and ISMA, New York, forthcoming 2001.
 "Do Governments Use Financial Derivatives Appropriately? Evidence from Sovereign Borrowers in Developed Economies", International Finance, Summer 2001.

Richard Portes
The European Contribution to International Financial Stability CEPR WP 2956
The Euro and the Financial System CEPR WP 2955
A Monetary Union in motion: the European Experience 2954
 Eastern Grmany since unification:wage subsidies remain a better way 2001
 Information and capital flows: The determinants of transactions in financial assets 2001
 Britain's adoption of the Euro 2001
 Economic globalisation-how far,how fast,how fraught?A perspective from the UK 2001
 Debt restructuring with and without the IMF 2001
    Global Financial Markets and Financial Stability: Europe's Role June (November) 1999
    The Determinants of Cross-Border Equity Flows with  H. Rey NBER W7336 Sep 1999
   "The Emergence of the Euro as an International Currency", joint with H Rey, Economic Policy, No. 26, 307-343, April 1998.
    The Determinants of Cross-Border Equity Flows  joint with H. Rey, 1999, NBER WP#7336.

Adam Posen
     Adam S. Posen: The Looming Japanese Crisis IIE May 2002.
     Why EMU is Irrelevant for the German Economy Abstract  -   Download
     A Strategy to Prevent Future Crises: Safely Shrink the Banking Sector June 2001

Alessandro Prati
    Finance & Development, December 1998 - Ensuring Financial Stability in the Euro Area with G Schinasi
    European Monetary Union and International Capital Markets: Structural Implications and Risks with Schinasi, Garry J
    An Inflation Targeting Framework for Italy  with Timothy Lane, Mark Griffiths.

 Edward C. Prescott
 Great Depressions of the 20th Century
 The 1990s in Japan: A Lost Decade
 Is the Stock Market Overvalued? 2000
 Some Observations on the Great Depression 1999



 Lucrezia REICHLIN
 DYNFACTORS contains information on theoretical and empirical research based on the  generalized dynamic factor model. This model, developed by Forni, Hallin, Lippi and  Reichlin,  is designed to study the dynamic interaction between a large number of time  series: macroeconomic variables from many regions, countries and sectors, financial assets,  exchange rates etc.. The econometric framework provides a parsimonious method for  estimation, forecasting, the analysis of economic shocks and their propagation.   The project has also developed a method for the development of a coincident indicator for  the EURO area business cycle: EuroCOIN . EuroCOIN was first released on Monday,  January 28 and will be regularly updated and  published each month by the CEPR   ( EuroCOIN is constructed on the basis of 1000  time series from the six major economies of the euro area. PapersResearchersDataSoftware

 Hélène Rey
   "The Emergence of the Euro as an International Currency", joint with R. Portes, Economic Policy, No. 26, 307-343, April 1998.
    Financial Super-Markets: Size Matters for Asset Trade , joint with P.Martin, 1999.
    Financial Integration and Asset Returns  joint with P. Martin, 1999.
    The Determinants of Cross-Border Equity Flows  joint with R. Portes, 1999, NBER WP#7336.

Roberto Rigobon
     No Contagion, Only Interdependence: Measuring Stock Market Co-movements with Kristin Forbes

Victor Rios-Rull
 Optimal and time-consistent fiscal policy with international mobility of capital: Why does the U.S. tax capital more than Europe?  Paul Klein and Vincenzo Quadrini. (June 2001).
 The Success and Failure of Reforms in Transition Economies.  Stephen Parente. (May 2001)
 Implementing the 35 Hour Workweek by Means of Overtime Taxation Victoria Osuna. ( Dec 2000)
 Time-Consistent Optimal Fiscal Policy Paul Klein. (Version Dec 2000).
 Understanding the U.S. Wealth Distribution (Joint with Vincenzo Quadrini).
 The Balance of Payments and Borrowing Constraints: An Alternative View of Recent Events in Mexico Joint with Andy Atkeson).

Dani Rodrik
 Argentina: A Case of Globalization Gone Too Far or Not Far Enough?
 Globalization, Growth, and Poverty: Is the World Bank Beginning to Get It?
 Why Are Some People (and Countries) More Protectionist Than Others?
 Dani Rodrik (FT): Mobilising the world's labour assets Read Dec 2001
    How Far Will International Economic Integration Go?
    Why Do More Open Economies Have Bigger Governments?  January 1998. The revised version of NBER Working Paper No. 5537, published in the Journal of Political Economy, October 1998.
    Rethinking the World Economy October 1998. A slightly longer version of a piece published in The New Republic (November 2, 1998) with the title "The Global Fix."
     Capital Mobility and Labor April 1998.  Draft paper prepared for the NBER workshop on Trade, Technology, Education, and the U.S. Labor Market, April 30-May 1, 1998.

Kenneth S. Rogoff
    Early Ideas on Sovereign Bankruptcy Reorganization: A Survey with J.Zettelmeyer (.pdf) April 2002.
    The Recession that Almost Was April 2002.
    Dornbusch's Overshooting Model After Twenty-Five Years ,a Mundell-Fleming Lecture, February 2002.
    The failure of empirical exchange rate models: no longer new, but still true 2001
    Global Implications of Self-Oriented National Monetary Rules with Maurice Obstfeld
    On Why Not a Global Currency,
    Perspectives on OECD Capital Market Integration: Implications for U.S. Current Account Adjustment with Maurice Obstfeld
  The Six Major Puzzles in International Macroeconomics: Is there a Common Cause?"   with Maurice Obstfeld
  International Institutions for Reducing Global Financial Instability
  "Foreign and Underground Demand for Euro Notes: Blessing or Curse?" Economic Policy 26, April 1998, 263-303.
  "Perspectives on Exchange Rate Volatility," 1999

Andrew K. Rose
     Currency Unions and International Integration, with Charles Engel --  PDF file.
    "One Money, One Market: Estimating The Effect of Common Currencies on Trade" forthcoming Economic Policy  This paper is available as a PDF file  A more accessible version is also available as a PDF file  it is forthcoming in the California Management Review
    "The Endogeneity of the Optimum Currency Area Criteria" (with Jeffrey Frankel), The most current version is available as a PDF File
    "Is EMU More Justifiable Ex Post than Ex Ante?" (with Jeffrey Frankel) The European Economic Review 1997. Available as a PDF File

Nouriel Roubini
Private Sector Involvement in Crisis Resolution and Mechanisms for Dealing with Sovereign Debt Problems July 2002.
Nouriel Roubini: Do we need a new international bankruptcy regime? Comments on Bulow, Sachs and White April 2002.
Nouriel Roubini: Should Argentina Dollarize or Float? The Pros and Cons of Alternative Exchange Rate Regimes and their Implications for Domestic and Foreign Debt Restructuring/Reduction Feb 2002.
Bail-ins, Bailouts, Burden Sharing and Private Sector Involvement in Crisis Resolution: The G-7 Framework and Some Suggestions on the Open Unresolved Issues Feb 2002.
Nouriel Roubini: Why should the foreign creditors of Argentina take a greater hit/haircut than the domestic ones: On the economic logic, efficiency, fairness and legality of "discriminating" between domestic and foreign debt in sovereign debt restructurings Dec 2001
The Role of Industrial Country Policies in Emerging Market Crises by Nouriel Roubini and Jeffrey Frankel
European Monetary Union and the Euro A homepage
Political Cycles and the Macroeconomy (mitpress) with Alesina and Cohen
Recent Macroeconomic Controversies and Policy Debates
Asian and Global Financial Crisis

Riccardo Rovelli
    Modeling and identifying central banks' preferences (with Carlo Favero) download PDF version
    Do trade and technology reduce asymmetries? Evidence from manufacturing industries in the EU. with Raffaele Pace, Feb. 1998 PDF version

Rudebusch Glenn
     "Assessing Nominal Income Rules for Monetary Policy with Model and Data Uncertainty." November 1999.
     FRBSF: Economic Letter (04/16/1999) Monetary Policy and Monetary Institutions
     "Eurosystem Monetary Targeting: Lessons from U.S. Data."with Lars Svensson


Jeffery  D. Sachs
     "Fiscal Federalism and Optimum Currency Areas: Evidence for Europe from the United States" with Xavier Sala-i-Martin

Xavier Sala-i-Martin

Mark Salmon
     On the Evolution of Credibility and Flexible Exchange Rate Target Zones. with Renzo G. Avesani ( University of Brescia), Giampiero M. Gallo (University of Florence), Download PDF  figure1figure2figure3figure4figure5 1999

Thomas Sargent
    Escaping Nash Inflation with Cho, In-Koo, 1999
    The European Unemployment Dilemma Full text in postscript file © Lars Ljungqvist and Thomas J. Sargent
    Blinder on Central Banking (Aug 15, 1998) Postscript file
    The Temporary (?) Conquest of American Inflation (February 5, 1998) This paper is a summary of my Marhall lectures The Conquest of American Inflation published by Princeton University Press. The paper was prepared for a joint Stanford CEPR and S.F. Fed Conference, February 8, 1999 PDF file
    Policy Rules for Open Economies (January 1998) (Discussion of Laurence Ball) Postscript file

Christof Schmidt
 Can Training and Financial Incentives Combat European Unemployment?  February 2002.

 Robert J. Shiller
     Why Do People Dislike Inflation?
     Attitudes towards the stock market: Prof. Shiller has, in collaboration with Fumiko Kon-Ya and Yoshiro Tsutusi, been surveying investment managers about their attitudes towards the stock market; these results are updated every six months.

Anne C. Sibert

Chris Sims
    Fiscal Consequences for Mexico of Adopting the Dollar
    The Precarious Fiscal Foundations of EMU
    Does Monetary Policy Generate Recessions?
    Fiscal Foundations of Price Stability in Open Economies (Hong Kong FEMES talk)
    What Does Monetary Policy Do?

Frank Smets
Openness, imperfect exchange rate pass-through and monetary  policy with Raf Wouters, February 2002, (ECB Working Paper no. 128) pdf 541 kB
Model uncertainty and the equilibrium value of the real effective euro exchange rate,with C. Detken, A. Dieppe, J. Henry, C. Marin  July 2002, ECB Wp pdf 529 kB
Measuring monetary policy shocks in France, Germany and Italy: the role of the exchange rate. BIS WP no 42, June 1997. Abstract  -  Full document (25 pages, 258904 bytes)

Ulf Soederstroem
    Monetary policy with uncertain parameters, February 2000, (ECB Working Paper No. 13), pdf 390 kB

Bent Sorensen
     Output Fluctuations and Fiscal Policy: U.S. State and Local Governments with  Oved Yosha and LISA WU

Alan Stockman
 Current Accounts and Exchange Rates:  A New Look at the Evidence
 Optimal Central Bank Areas, Financial Intermediation, and  Mexican Dollarization

 Lars E.O. Svensson
 "The Foolproof Way of Escaping from a Liquidity Trap: Is It Really, and Can It Help Japan?" The     Frank  D. Graham Memorial Lecture, Princeton University, April 2001
 Japan and the foolproof way Nov 2001
 Maurice Obstfeld, Jay C. Shambaugh and Alan M. Taylor, "The Trilemma in History: Tradeoffs amonge Exchange Rates, Monetary Policies, and Capital Mobility,"
Escaping from a Liquidity Trap, Monetary Policy Rules for Inflation Targeting, and Eurosystem Monetary-Policy Strategy
Implementing Optimal Policy through Inflation-Forecast Targeting" (with Michael Woodford)
A Good Thing Could Happen at the ECB: An Improvement of the Eurosystem's Definition of Price Stability
      The First Year of the Eurosystem: Inflation Targeting or Not?
      How Should Monetary Policy be Conducted in an Era of Price Stability?
      Inflation Targeting: Some Extensions
      "Implementing Optimal Policy through Inflation-Forecast Targeting" with M. Woodford, November 1999.
      Indicator Variables for Optimal Policy with Mike Woodford 1999.ECB WP version pdf 324 kB
    "Transparency and credibility: Monetary policy with unobservable goals," (with Jon Faust, Federal Reserve Board), Revised version, April 1999,  PDF  (0.3 MB).
    "The Equilibrium Degree of Transparency and Control in Monetary Policy," (with Jon Faust, Federal Reserve Board), IIES Seminar Paper No. 669, April 1999 (NBER Working Paper No. 7152), PDF
 "Money and Inflation in  the Euro area: A Case for Monetary Indicators?" (with Stefan Gerlach, Bank for International Settlements), July 1999,  PDF
    "Targeting Money in the U.S. and in Europe: Lessons for the Eurosystem," (with Glenn Rudebusch, Federal Reserve Bank of San Francisco), (NBER Working Paper No. 7179) PDF
    "Price Stability as a Target for Monetary Policy: Defining and Maintaining Price Stability" PDF (340 K) February, 1999, presented at the Bundesbank conference on The Monetary Transmission Process: Recent Developments and Lessons for Europe, Frankfurt, March 26-27, 1999. PDFAbstract
    Monetary Policy Issues for the Eurosystem, February 1999, presented at the Carnegie - Rochester Conference on Issues Regarding European Monetary Unification, November 20-21, 1998  conference version:PDF revised version:  PDF
    "Open-Economy Inflation Targeting",  (PDF file)
    "Inflation Targeting as a Monetary Policy Rule", longer: PDF and shorter version: PDF


Guido Tabellini
Political Institutions and Policy Outcomes: What are the Stylized Facts?(with T. Persson), November 2000.  Full text
Would you like to Shrink the Welfare State? The Opinions of European Citizens (with T. Boeri  and A. Börsch-Supan), November 2000. Full text
    Quo Vadis Euro?   The Cost of Muddling Through Second Report of the CEPS Macroeconomic Policy Group (PDF file, 547KB)
    Constitutional determinants of government spending  Munich Lectures in Economics Lecture 1
    Monetary cohabitation in Europe, American Economic Review 86, 111-116, 1996. Longer version available as NBER Working paper, No. 5532 (with T. Persson). Full text PDF
    Inflation Targeting and the Accountability of the European Central Bank (PDF Format, 25 KB)   Statement prepared for the public hearing on "Democratic Accountability in the Third phase of     EMU", organized by the European Parliament, Subcommittee on Monetary Affairs, on Jan 6, 1998.
     Macroeconomic Policy in the First Year of Euroland December 1998. First Annual Report on the European Economy of the CEPS Macroeconomic Policy Group. Daniel Gros, Olivier Blanchard, Michael Emerson, Thomas Mayer, Hans Werner Sinn, Gilles St. Paul, Guido Tabellini
     IGIER - BOCCONI: Working paper 149, Political economy and public finance,  with T Persson, 1999

John Taylor
    The Robustness and Efficiency of Monetary Policy Rules as Guidelines for Interest Rate Setting by the European Central Bank", No. 649 by John B. Taylor. Acrobat Format (PDF). Acrobat Format (PDF)

Niels Thygesen
    The Relation between the Euro and the Dollar paper
    EMU, Britain and Other Outsiders, May 1998, sp0102

Cedric Tille
    Exchange Rate Pass-Through and the Welfare Effects of the Euro  (with Michael Devereux and Charles Engel), NBER Working Paper 7382, October 1999.

James Tobin
    The globalization of the world economy
    Currency unions: American vs European
    Financial Globalization: Can National Currencies Survive


Harald Uhlig
One money, but many fiscal policy in Europe: what are the consequences?pdf-file
What are the effects of fiscal policy shocks?  pdf-file
What are the effects of monetary policy on output? results from an agnostic identification procedure pdf-file
Long Term Debt and the Political Support for a Monetary Union pdf-file
An Analysis of the Stability pact pdf-file *


Ignazio Visco
    EMU, the Euro and the European policy mix. with Coppel and Durand. OECD

Philip  Vermeulen
Firm investment and monetary transmission in the euro area,with J. B. Chatelain, A. Generale, I.Hernando, U. von Kalckreuth December 2001, (ECB Working Paper No.112), pdf 1527 kB
Business fixed investment: evidence of a financial accelerator in Europe,  November 2000, (ECB Working Paper No. 37) pdf 569 kB

Jürgen von Hagen
     The First Year of EMU (Jürgen von Hagen)
    "Money Growth Targeting", No. 643 by J Von HagenAcrobat Format (PDF)
     EMU Inflation: A Detailed Look (B. Hayo, M.J.M. Neumann und J. von Hagen)
     EMU: Successful Conversion, Confused Strategy (J. von Hagen)
     The ECB: Transparency and Accountability (J. von Hagen)


Axel A. Weber
    Sources of Purchasing Power Disparity between the G3-Economies",  Journal of Japanese and International Economics. (download paper in pdf-Format, 1 MB)
    "Sources of Purchasing Power Disparities: Europe versus the United States", European Economy,  (download paper in pdf-Format, 1 MB)

Eric Van Wincoop
 A Theory of the Currency Denomination of International Trade
 Gravity with Gravitas: A Solution to the Border Puzzle
 Borders, Trade and Welfare
 National Money as a Barrier to International Trade:  The Real Case for Currency Union
 Trade Flows, Prices, and the Exchange Rate Regime
 Borders and Business Cycles
 Does Exchange Rate Stability Increase Trade and Welfare?
 Asia Crisis Post-Mortem: Where Did the Money Go and Did the United States Benefit?
 Can Nontradables Generate Substantial Home Bias?  technical appendix
 Intranational versus International Saving-Investment
 Capital Flows to Emerging Markets: Liberalization
 Growth Uncertainty and Risksharing

 Michael Woodford
 "Fiscal Requirements for Price Stability," (October 2000)
 "Price-Level Determination under Interest-Rate Rules," (April 2000)
 "Monetary Policy in a World Without Money," (Aug 2000)
"A Neo-Wicksellian Framework for the Analysis of Monetary Policy," (Sept 2000)
Indicator Variables for Optimal Policy With Lars Svensson 1999. ECB WP version pdf 324 kB
     "Inflation Stabilization and Welfare" 1999
     "Optimal Monetary Policy Inertia"
     "Commentary: How Should Monetary Policy Be Conducted in an Era of Price Stability?" Proceedings of a symposium held in Jackson Hole, Wyoming, 1999.
     "Implementing Optimal Policy through Inflation-Forecast Targeting" with Lars E.O. Svensson, November 1999.
     "Revolution and Evolution in Twentieth-Century Macroeconomics" Forthcoming, P. Gifford, ed., Frontiers of the Mind in the Twenty-First Century, Harvard University Press.

Charles Wyplosz
    The International Lender of Last Resort: How Large Is Large Enough? with O. Jeanne.
    Economic Policy Coordination in EMU: Strategies and Institutions
    Towards a More Perfect EMU
    EMU Stability Pact
    An International Role for the Euro?



Oved Yosha
     Output Fluctuations and Fiscal Policy: U.S. State and Local Government

EuroInternet Information Resources Related to European Integration in the Internet
Who's Who in European Integration Studies.


Academic and Policy Centers Back to index


CEPR Centre for Economic Policy Research
A full Monitoring the European Central Bank report every year, complemented by an update a few month later during the year
See the 2001 issue of Monitoring the European Central Bank. with its update MECB Update September 2001
EMU is often discussed in articles published by the journal: Economic Policy and by CEPR Discussion Paper and Policy Paper
See also the reports Monitoring European Integration  Monitoring European Deregulation

CEPS Centre For European Policy Studies
Centre For European Policy Studies (CEPS)
"A new commission" by Peter Ludlow October 1999
The Capital Adequacy Reform, seen from Brussels
The Implementation of ECB's Monetary Policy Instruments

Center for Economic Studies KU Leuven.
     CES Discussion Papers

Center for Financial Studies
Center for Financial Studies: ECB monitor

ECARE (European Centre for Advanced Research in Economics)

 ECSA Home page European Community Studies Association


Financial Econometrics Research Centre City University Business School

IFO (English)
Ifo Digest
CES Working Papers

IGIER - Bocconi

London School of Economics: Economics Department: Publications  FMG Research Papers

Mannheim Centre for European Social Research (Germany)

Zentrum für Europäische Integrationsforschung ZEI
EMU Monitor: EMU-Monitor: Press Statement No. 4 24.11.1999


The Brookings Institution

Center for European Integration Studies (George Mason University, USA)

 Council for European Studies (CES, Columbia, USA)

Center for European Studies (CES, Duke University, USA)

Center for European Studies (CES, University of Minnesota, USA)

Center for West European Studies (Washington DC, USA)

The European Union Center at Harvard University (Harvard, USA)

The European Institute (Washington DC, USA)

European Union Center University of Wisconsin
A useful guide to EU-related  research in Brussels

IIF Home Page Institute for International Finance

Institute for European Studies (Cornell, NY, USA)

Institute for International Economics

NBER  NBER Working Papers on line

The Network of European Union Centers in the United States (Harvard, USA)

Quantitative Macroeconomics and Real Business Cycle includes a list of homepages and paper

Call for papers  Back to index

Note: I will not post calls for papers unless requested to.

Edited by J. Jay Choi, Temple University, and Jeffrey Wrase, Federal Reserve Bank of Philadelphia

Acceptable contributions will be published in Volume III of the International Finance Review 

Abstracts, working papers and reading lists Back to index

 New ECB Working Paper Series

a very useful reading list by Richard Portes

Monetary Policy Rules in Open Economy A Homepage

OECD- Economics - Links for the euro area and the European Union

research on EMU at South Bank University, London

Reading List, HEC Integ.Euro., 1999/2000  Professor Richard E. Baldwin: The Economics of European Integration

Prof. Hubbard Textbook: Web Links

Ideas for the EU Course, Spring 1999:

Econ504 Syllabus, 2000


A World Currency

International Monetary Economics, 180.342

Links to International economy

Group B: Optimal Currency Areas and EMU


Open Directory - Society: Politics: European Union: Policies and Programmes

European Union & Internet -- José Manuel Esgalhado Valença

EuroInternet Information Resources Related to European Integration in the Internet

Institute for International Economic Studies (Sweden) Seminar Papers

European University Center RSC Publications, Working Papers in Economic Policy

Wyplosz' reading list on European Monetary Integration (graduate), European Monetary Integration (undergraduate)

HARVARD  Transatlantic European Network

EuroInternet Information Resources Related to European Integration in the Internet

 CERGE-EI Library: EURODATA The CERGE-EI Library Database  EURODATA is a source of information on the european Union and associated countries with a stress on the economic implications of the accession process.

Northern Light: European Economic and Monetary Union

Database of abstracts of EMU papers submitted to the European Bond Commission.

Mannheimer Zentrum für Europäische Sozialforschung (Center for European Social Research)

Goffe: Resources for economists on the Internet

Political Science Sources

The Ultimate Political Science Links Page (P.S. Ruckman, Jr., ed.)

Political Science Research Resources

Lisa Martin's Home Page

Jeff Frieden's Homepage

Other Euro-Emu pages Back to index

Nouriel Roubini's homepage on European Monetary Union and the Euro (NYU Stern)

Dossiers du DESS - Euro

Systems Modelling Ltd. Euro currency changeover consulting, Software Process Improvement
     Frequently Asked Questions (FAQ) on EMU and the euro single currency

Euro resources on the web.

Dossiers / Euro by Strategic Road Euro news  Euro, Official sites  Euro, Other interesting sites  Euro, Sample survey  Euro, National sites  Euro, Papers and Documents  Euro, Useful

EMUNet  is an independent, non-profit web site on Europe's monetary union.

The Bank of International Settlements' archive of central bankers' speeches.

Deutsche Bundesbank

ING Euro Desk main.html

EuroPortal corporate/emu ~parkside/emuweb.htm

The Economist
European Voice online

Keele Critical European Group

European Integration (Selected Links) Aykut Kibritçioglu's Home Page

Economic & Monetary Union in Europe Economics Professor David L. Cleeton

euro European Monetary Policy from an academic perspective

Lycos Business Guide: European Monetary Union

The Euro Zone Working Page at Duke University

Useful source: Dr. Ed Yardeni's Economics Network

Basics Back to index

An EMU glossary by Dresdner Kleinwort Benson
FAQ about EMU by Dresdner Kleinwort Benson


The EMU Library

Emu information page by HM Treasury.

A useful dictionary of financial terms

Recent development in open macroeconomic theory Back to index

Brian Doyle's New Open Economy Macroeconomics Homepage

Giancarlo Corsetti's homepage on the recent developments in Open-economy Macroeconomics

Page updated: 11/05/06