Refereed Journal Articles

"Government Deficits in Large Open Economies: The Problem of Too Little Public Debt," Economics: The Open-Access, Open-Assessment E-Journal 10, 2016-2, 1—39, with Willem Buiter

"Is Transparency about Central Bank Plans Desirable?" Journal of the European Economic Association 7, Jun. 2009, 831–857.

“Deflationary Bubbles,” Macroeconomic Dynamics 11, Sept. 2007, 434-454, with Willem Buiter.

“Central Banking by Committee,” International Finance 9, Aug. 2006, 145-168.

“Credibility and Flexibility with Monetary Policy Committees,” Journal of Money, Credit and Banking 38, Feb. 2006, 23 - 46, with Ilian Mihov.

"Monetary Union and the Maastricht Inflation Criterion: The Accession Countries," Economics of Transition 12, Dec. 2004, 635 - 652, with F. Gulcin Ozkan and Alan Sutherland.

“Monetary Policy Committees: Individual and Collective Reputations,” Review of Economic Studies 70, Jul. 2003, 649-666.

“Monetary Policy with Uncertain Central Bank Preferences,” European Economic Review 46, Jun. 2002, 1093-1110.

“Monetary Union and Labor Market Reform,” Journal of International Economics 51, Aug. 2000, 421-436, with Alan Sutherland.

"The Timing of Multilateral Lending,” Economic Journal 110, Jan. 2000, 192-211, with William Perraudin.

“UDROP: A Small Contribution to the New International Financial Architecture,” International Finance 2, July 1999, 227-249, with Willem Buiter.

"Monetary Integration and Economic Reform," Economic Journal 109, Jan. 1999, 78-92.

"Government Finance with Currency Substitution," Journal of International Economics 44, Feb. 1998, 155-172, with Lihong Liu.

"Strategic Capital Taxation in Large Open Economies with Mobile Capital," International Tax and Public Finance 4, July 1997, 243-262, with Jiming Ha.

"Portfolio Substitution and Exchange Rate Volatility," Journal of Monetary Economics 39, Aug. 1997, 517-534, with Jiming Ha.

"Unconventional Preferences: Do they Explain Foreign Exchange Risk Premia," Journal of International Money and Finance 15, Feb. 1996, 149-165.

"The Foreign Exchange Risk Premium: Is it Real?" Journal of Money, Credit and Banking 27, May 1995, 301-317, with Craig Hakkio.

"The Allocation of Seigniorage in a Common Currency Area," Journal of International Economics 37, 1994, 111-122.

"Government Finance in a Common Currency Area," Journal of International Money and Finance 11, 1992, 567-578.

"Exchange Rates, Market Structure, Prices and Import Values," Economic Record 68, Sept. 1992, 233-239.

"The Macroeconomic Implications of Implicit Contract Models with Asymmetric Information," Journal of Money, Credit and Banking 22, Aug. 1990, 273-287, with Matthew Canzoneri.

"Taxing Capital in a Large Open Economy," Journal of Public Economics 41, Apr. 1990, 297-317.

"The Risk Premium in the Foreign Exchange Market," Journal of Money, Credit and Banking 21, Feb. 1989, 49-65.

"An Analysis of the Welfare Implications of Alternative Exchange Rate Regimes: An Intertemporal Model with an Application," Journal of Policy Modeling 10, Winter 1988, 611-629, with Andrew Feltenstein and David Lebow.

"Elections and Macroeconomic Policy Cycles," Review of Economic Studies 55, Jan. 1988, 1-16, with Kenneth Rogoff.

"Capital Accumulation and Foreign Investment Taxation," Review of Economic Studies 52, Apr. 1985, 331-345.