Andrew Rose

Publications

Books Edited 

Commodity Prices and Markets (UC Press), 2011, with Takatoshi Ito. 

Economic Consequences of Demographic Change in East Asia (UC Press), 2010, with Takatoshi Ito. 

Financial Sector Development in East Asia (UC Press), 2009, with Takatoshi Ito. 

International Financial Issues in the Pacific Rim (UC Press), 2008, with Takatoshi Ito. 

Fiscal Policy and Management in East Asia (UC Press), 2007, with Takatoshi Ito. 

Monetary Policy in the Pacific Rim with Very Low Inflation (UC Press), 2006, with Takatoshi Ito. 

International Trade in East Asia (UC Press), 2005, with Takatoshi Ito. 

Growth and Productivity in East Asia (UC Press), 2004, with Takatoshi Ito. 

International Finance and Financial Crises: Essays in Honor of Robert P. Flood, (Kluwer/International Monetary Fund), 1999, with Peter Isard and Assaf Razin.

Journal Symposia Edited 

“International Seminar on Macroeconomics” Journal of International Economics 2015. 

“International Finance” Journal of the Japanese and International Economies 2006. 

“Exchange Rate Economics Twenty Years after Meese-Rogoff” Journal of International Economics 2003. 

“Intranational and International Economics” Journal of International Economics 2001. 

“International Seminar on Macroeconomics” European Economic Review 2001. 

“The Japanese Economy” Journal of International Economics 2001. 

“Optimum Currency Areas” Journal of International Economics 1998. 

“International Seminar on Macroeconomics” European Economic Review 1998. 

“The Mexican Crisis” Journal of International Economics 1996.

Journal Articles

“Why Have Negative Nominal Interest Rates Had Such a Small Effect on Bank Performance? Cross Country Evidence” (with Jose A. Lopez, and Mark M. Spiegel), CEPR Discussion Paper 13,010, NBER Working Paper 25,004, forthcoming European Economic Review.

“Currency Wars? Unconventional Monetary Policy Does Not Stimulate Exports” CEPR Discussion Paper 11,748, NBER Working Paper 24,817, forthcoming Journal of Money, Credit and Banking.

“A Study of the Impact of Data Sharing on Article Citations using Journal Policies as a Natural Experiment” (with Garret Christensen, Allan Dafoe, Edward Miguel and Don Moore), PLOS One 2019.

“Political Borders and Bank Lending in Post-Crisis America” (with Matthieu Chavaz) Review of Finance 2019.

“Soft Power and Exports” Review of International Economics 2019.

“How Important is the Global Financial Cycle? Evidence from Capital Flows” (with Eugenio Cerutti and Stijn Claessens) IMF Economic Review 2019.

“Exchange Rate Behavior with Negative Interest Rates: Some Early Negative Observations” (with Allaudeen Hameed) Pacific Economic Review 2018.

“Bond Vigilantes and Inflation” (with Mark Spiegel) International Journal of Central Banking 2018.

“Why do Estimates of the EMU Effect on Trade Vary So Much?” Open Economies Review 2017.

“Currency Unions and Trade: A Post-EMU Reassessment” (with Reuven Glick), European Economic Review 2016.

“Like Me, Buy Me: The Effect of Soft Power on Exports” Economics and Politics 2016.

“Does Government Intervention affect Banking Globalization?” (with Anya Kleymenova and Tomasz Wieladek), Journal of the Japanese and International Economies 2016.

“Financial Protectionism? First Evidence” (with Tomasz Wieladek), Journal of Finance 2014.

“Capital Controls in the 21st Century” (with Barry Eichengreen), CEPR Policy Insight No. 72, Journal of International Money and Finance 2014.

“Who Benefits from Regional Trade Agreements? The View from the Stock Market” (with Christoph Moser), European Economic Review 2014.

“Surprising Similarities: Recent Monetary Regimes of Small Economies”, Journal of International Money and Finance 2014. An earlier and condensed version is in Prospects for Asia and the Global Economy (2013 FRBSF).

“Protectionism isn’t Counter-Cyclic (anymore)”, Economic Policy 2013.

“Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis” (with Mark Spiegel), Journal of International Economics 2012.

“Too Big to Fail: Some Empirical Evidence on the Causes and Consequences of Public Banking Interventions in the UK” (with Tomasz Wieladek) Journal of International Money and Finance 2012.

“Central Bank Swaps and International Dollar Illiquidity” (with Mark Spiegel), Global Journal of Economics 2012.

“Why do Trade Negotiations Take So Long?” (with Christoph Moser) Journal of Economic Integration 2012 and in European Integration in a Global Economy (Nowotny, Mooslechner and Ritzberger-Grünwald, eds, Edward Elgar 2012).

“Exchange Rate Policy in Small Rich Economies” (with Francis Breedon and Thorarinn Petursson) Open Economies Review 2012.

“The Causes and Consequences of the 2008 Crisis: Early Warning” (with Mark Spiegel), Japan and the World Economy 2012.

“Exchange Rate Regimes in the Modern Era: Fixed, Floating, and Flaky” Journal of Economic Literature 2011.

“The Olympic Effect” (with Mark Spiegel) Economic Journal 2011.

“Cross-Country Causes and Consequences of the 2008 Crisis: An Update” (with Mark Spiegel) European Economic Review 2011.

“The Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure” (with Mark Spiegel) Pacific Economic Review 2010.

“Inflation Targeting and Business Cycle Synchronization” (with Robert Flood), Journal of International Money and Finance 2010.

“The International Order in the Aftermath of the Great Recession” Brown Journal of World Affairs 2010.

“International Financial Remoteness and Macroeconomic Volatility” (with Mark Spiegel), Journal of Development Economics 2009.

“Fertility and the Real Exchange Rate” (with Suktiandi Supaat and Jacob Braude), Canadian Journal of Economics 2009.

“Non-Economic Engagement and International Exchange: The Case of Environmental Treaties” (with Mark Spiegel), Journal of Money, Credit, and Banking 2009. An extension of this paper is circulating as “International Economic Arrangements and International Commerce.”

“Is Old Money Better than New? Duration and Monetary Regimes” (with Ilian Mihov) eEconomics 2008.

“Offshore Financial Centers: Parasites or Symbionts?” (with Mark Spiegel), Economic Journal 2007.

“A Stable International Monetary System Emerges: Inflation Targeting is Bretton Woods, Reversed” Journal of International Money and Finance 2007.

“Quantitative Goals for Monetary Policy” (with Antonio Fatás and Ilian Mihov) Journal of Money, Credit, and Banking 2007.

“The Foreign Service and Foreign Trade” The World Economy 2007.

“Checking Out: Exits from Currency Unions” Journal of Financial Transformation 2007.

“Cities and Countries” Journal of Money, Credit, and Banking 2006.

“Size Really Doesn’t Matter: In Search of a National Scale Effect” Journal of the Japanese and International Economies 2006.

“Well-Being in the Small and in the Large” Monetary and Economic Studies 2006.

“Financial Integration: A New Methodology and an Illustration” (with Robert Flood) Journal of the European Economic Association 2005.

“Estimating the Expected Marginal Rate of Substitution: A Systematic Exploitation of Idiosyncratic Risk” (with Robert Flood) Journal of Monetary Economics 2005.

“Which International Institutions Promote International Trade?” Review of International Economics 2005.

“One Reason Countries Pay Their Debts: Renegotiation and International Trade” Journal of Development Economics, 2005.

“Is Trade Good or Bad for the Environment? Sorting out the Causality” (with Jeffrey Frankel), Review of Economics and Statistics 2005.

“A Meta-Analysis of the Effect of Common Currencies on International Trade” (with Tom Stanley), Journal of Economic Surveys 2005.

“A New Approach to Asset Integration” (with Robert Flood) Pacific Economic Review 2005.

“Does the WTO Make Trade More Stable?” Open Economies Review 2005.

“Do We Really Know that the WTO Increases Trade?” American Economic Review 2004. Reprinted in The WTO, Economic Interdependence and Conflict (Busch and Mansfield, editors; Edward Elgar). Reprinted in Major Works (W.T.M. Molle, editor; Routledge). Reprinted in Critical Perspectives on the Global Trading System and the WTO (Braga and Cattaneo, editors; Edward Elgar). Reprinted in Key Concepts in the New Global Economy (Baldwin, editor; Edward Elgar). Reprinted in Measuring WTO's Contribution to Global Economic Growth, (Anderson, editor; Edward Elgar).

“Do WTO Members have More Liberal Trade Policy?” Journal of International Economics 2004.

“A Gravity Model of Sovereign Lending” (with Mark Spiegel) IMF Staff Papers 2004.

“Equity Integration in Japan: An Application of a New Method” Monetary and Economic Studies 2004.

“An Estimate of the Effect of Currency Unions on Trade and Growth” (with Jeffrey Frankel) Quarterly Journal of Economics 2002. A version also appears in Currency Unions (Alesina and Barro, eds, Hoover Press). Reprinted in Recent Developments in Exchange Rate Economics (Taylor and Manzur, editors; Edward Elgar).

“Noise Trading and Exchange Rate Regimes” (with Olivier Jeanne), Quarterly Journal of Economics 2002.

“Currency Unions and International Integration (with Charles Engel), Journal of Money, Credit and Banking 2002. A version also appears in Currency Unions (Alesina and Barro, eds, Hoover Press).

“Does a Currency Union affect Trade? The Time-Series Evidence” (with Reuven Glick), European Economic Review 2002.

“Uncovered Interest Parity in Crisis” (with Robert Flood), IMF Staff Papers 2002. A version is also in Economic Policy in the International Economy (Helpman and Sadka, eds, Cambridge Press, 2003).

“Honey, the Currency Union Effect on Trade Hasn’t Blown Up” The World Economy 2002.

“Do Monetary Handcuffs Restrain Leviathan? Fiscal Policy in Extreme Exchange Rate Regimes” (with Antonio Fatás), IMF Staff Papers 2001.

“Currency Unions and Trade: The Effect is Large” Economic Policy 2001.

“National Money as a Barrier to International Trade: The Real Case for Currency Union” (with Eric van Wincoop) American Economic Review 2001.

“Using the Gravity Model to Differentiate Among Alternative Theories of Trade” (with Robert Feenstra and James Markusen) Canadian Journal of Economics 2001.

“Putting Things in Order: Trade Dynamics and Product Cycles” (with Robert Feenstra), Review of Economics and Statistics 2000.

“A Review of Some of the Economic Contributions of Robert A. Mundell, Winner of the 1999 Nobel Memorial Prize in Economics” Scandinavian Journal of Economics 2000.

“One Money, One Market: Estimating the Effect of Common Currencies on Trade” Economic Policy 2000. A non-technical version “Does a Currency Union Boost International Trade?” is in California Management Review 2000.

“A Regional Contagion” (with Reuven Glick), Risk 2000.

“Understanding Exchange Rate Volatility without the Contrivance of Macroeconomics” (with Robert Flood), Economic Journal 1999.

“Contagion and Trade: Why Are Currency Crises Regional?” (with Reuven Glick), Journal of International Money and Finance 1999.

“The Endogeneity of the Optimum Currency Area Criteria” (with Jeffrey Frankel), Economic Journal 1998. An early version is in Swedish Economic Policy Review 1997; a Swedish translation is Ekonomisk Struktur och Beslutet att Införa en Gemensam Valuta. Reprinted in The Political Economy of Monetary Union (edited by De Grauwe, Elgar).

“Is EMU More Justifiable Ex Post than Ex Ante?” (with Jeffrey Frankel) The European Economic Review 1997.

“Fixes: Of the Forward Discount Puzzle” (with Robert Flood), Review of Economics and Statistics 1996.

“Currency Crashes in Emerging Markets: An Empirical Treatment” (with Jeffrey Frankel), The Journal of International Economics 1996.

“Exchange Rate Volatility, Monetary Policy, and Capital Mobility: Empirical Evidence on the Holy Trinity” The Journal of International Money and Finance 1996.

“Contagious Currency Crises: First Tests” (with Barry Eichengreen and Charles Wyplosz) Scandinavian Journal of Economics 1996. Also in Liberalization and Macroeconomic Stability (edited by Andersen and Moene).

“A Panel Project on Purchasing Power Parity: Mean Reversion Within and Between Countries” (with Jeffrey Frankel) The Journal of International Economics 1996.

“After the Deluge: Do Fixed Exchange Rates allow Inter-Temporal Volatility Tradeoffs?” International Journal of Finance & Economics 1995

“Fixing Exchange Rates: A Virtual Quest for Fundamentals” (with Robert Flood), The Journal of Monetary Economics 1995. Reprinted in New Developments in Exchange Rate Economics (Sarno and Taylor, eds; Edward Elgar 2001).

“Exchange Market Mayhem: The Antecedents and Aftermath of Speculative Attacks” (with Barry Eichengreen and Charles Wyplosz), Economic Policy 1995.

“Explaining Forward Exchange Bias ... Intraday” (with Richard Lyons) Journal of Finance 1995.

“Expected and Predicted Realignments: The FF/DM Exchange Rate During the EMS” (with Lars Svensson), Scandinavian Journal of Economics 1995.

“Dynamic Persistence of Industry Trade Balances: How Pervasive is the Product Cycle?” Oxford Economic Papers (with Joseph Gagnon), 1995.

“European Exchange Rate Credibility Before the Fall” (with Lars Svensson), European Economic Review 1994. Abbreviated version in “Macroeconomic and Political Determinants of Realignment Expectations” in Monetary and Fiscal Policy in an Integrated Europe (edited by von Hagen).

“Are Exchange Rates Macroeconomic Phenomena?”, Federal Reserve Bank of San Francisco Economic Review 1993.

“California Agriculture and an Emerging Mexico” (with Robert Feenstra), North American Journal of Economics and Finance, 1993.

“Domestic Saving and Intra-National Capital Flows” (with Tamim Bayoumi), European Economic Review 1993. Reprinted in International Financial Integration (Eijffinger and Lemmen, eds.)

“An Empirical Evaluation of the Macroeconomic Effects of Tariffs” (with Jonathan Ostry), The Journal of International Money and Finance 1992.

“An Empirical Exploration of Exchange Rate Target Zones” (with Robert Flood and Donald Mathieson), Carnegie-Rochester Series on Public Policy, supplement to the Journal of Monetary Economics, 1991.

“East Germany in from the Cold: The Economic Aftermath of Currency Union” (with George Akerlof, Janet Yellen, and Helga Hessenius), Brookings Papers in Economic Activity 1991.

“An Empirical Assessment of Nonlinearities in Models of Exchange Rate Determination” (with Richard Meese), Review of Economic Studies 1991.

“The Role of Exchange Rates in a Popular Model of International Trade: Does the 'MarshallLerner' Condition Hold?”, Journal of International Economics 1991.

“Why Has Trade Grown Faster than Income?” Canadian Journal of Economics 1991.

“Non-Linear, Non-Parametric, Non-Essential Exchange Rate Estimation” (with Richard Meese) American Economic Review 1990.

“Is There a J-Curve?” (with Janet Yellen) Journal of Monetary Economics 1989.

“Job Switching and Job Satisfaction in the U.S. Labor Market” (with George Akerlof and Janet Yellen) Brookings Papers in Economic Activity 1988.

“Is the Real Interest Rate Stable?” Journal of Finance 1988.

“An Alternative Approach to the American Demand for Money” Journal of Money, Credit and Banking 1985.

“A Semi-Strong Test for Exchange Market Efficiency” (with Jack Selody) Review of Economics and Statistics 1984.

Publications in Books

“The CEPR, International Trade, and the Single Market in Europe.” Forthcoming in Richard Baldwin ed., CEPR 30th anniversary conference volume.

“Soft Power, Sanctions and Exports: Checking the BS in BDS.” in Peter A.G. van Bergeijk, Selwyn Moons, eds. Research Handbook on Economic Diplomacy (Edward Elgar, 2018).

“International Financial Integration and Crisis Intensity” in Masahiro Kawai, Yung Chul Park and Charles Wyplosz, eds., Monetary & Financial Cooperation in East Asia (Oxford University Press, 2015).

“A New Approach to Asset Integration” (with Robert Flood). Forthcoming in Contemporary Issues in International Finance. A shorter version is in Pacific Economic Review 2005.

“Flexing Your Muscles: Effects of Abandoning Fixed Exchange Rates for Greater Flexibility” (with Barry Eichengreen) in Jeffrey Frankel and Christopher Pissarides, eds., NBER International Seminar on Macroeconomics 2012.

“Understanding Business Cycle Synchronization: Is Inflation Targeting Paving the Way to Asian Monetary Union?” in Robert J. Barro and John-Wha Lee, eds., Costs and Benefits of Economic Integration in Asia (Oxford University Press, 2011).

“International Environmental Arrangements and International Commerce” (with Mark Spiegel) in Steven Brakman and Peter A. G. van Bergeijk, eds., Recent Applications of the Gravity Model, (Cambridge University Press, 2010).

“Forecasting International Financial Prices with Fundamentals: How do Stocks and Exchange Rates Compare? “(with Robert P. Flood) in Globalization and Economic Integration: Winners and Losers in the Asia-Pacific, (edited by Noel Gaston and Ahmed Khalid, Edward Elgar, 2010). Circulating earlier as “Why so Glum? The Meese-Rogoff Methodology Meets the Stock Market” (with Robert Flood), CEPR Discussion Paper 6714.

“Is EMU Becoming an Optimum Currency Area? The Evidence on Trade and Business Cycle Synchronization” published as “Panel Statement” in The Euro at Ten – Lessons and Challenges (edited by Mackowiak, Mongellu, Noblet, and Smets, ECB 2009) .

“Determinants of Agricultural and Mineral Commodity Prices” (with Jeffrey Frankel), in Inflation in an Era of Relative Price Shocks (edited by Fry, Jones and Kent, RBA 2010).

“The Effect of Membership in the GATT/WTO on Trade: Where Do We Stand?” in Is the World Trade Organization Attractive Enough for Emerging Economies? (edited by Zdenek Drabek, Palgrave Macmillian 2010). A closely related version is in International Handbook on the Economics of Integration (edited by Miroslav Jovanovic, Edward Elgar 2011)

“EMU, Trade and Business Cycle Synchronization” in Towards the First Decade of Economic and Monetary Union (36. Volkswirtschaftliche Tagung 2008).

“Currency Unions” in The New Palgrave (Durlauf and Blume, eds) Palgrave Macmillan, 2008

“Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic” (with Zsolt Darvas and György Szapáry). International Seminar on Macroeconomics (Frankel and Pissarides, eds) 2007.

“Exchange Rate Regimes and Stability: Where do We Stand?” in Second Conference of the Monetary Stability Foundation (König and Remsperger eds, Stiftung Geld und Währung, 2005).

“The Expected Marginal Rate of Substitution in the United States and Canada” in Canada in the Global Economy (Schembri ed., Bank of Canada, 2004).

“The Effect of Common Currencies on Trade: A Meta-Analysis.” In Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability (Alexander, Mélitz, and von Furstenberg, eds, Oxford, 2004). A version was published as “The Potential Effect of EMU Entry on British Trade” in Submissions on EMU Trade from Leading Academics (HM Treasury, 2003).

“Equity Integration in Times of Crisis” (with Robert Flood). In Market Discipline (Borio, Hunter, Kaufman, and Tsatsaronis, eds, MIT Press, 2004).

“Waiting for Work” (with George Akerlof and Janet Yellen) in Economics for an Imperfect World (Essays in Honor of Joseph E. Stiglitz) (Arnott, Greenwald, Kanbur, and Nalebuff, eds, MIT Press, 2003). A longer version is available as NBER WP #3385.

“Uncovered Interest Parity in Crisis: The Interest Rate Defense in the 1990s” (with Robert Flood), in Economic Policy in the International Economy (Helpman and Sadka, eds, Cambridge Press, 2003).

“Does it Pay to Defend against a Speculative Attack?” (with Barry Eichengreen) in Managing Currency Crises in Emerging Markets (edited by Jeffrey Frankel and Michael Dooley, UC Press, 2003).

“Common Currency Areas in Practice” in Revisiting the Case for Flexible Exchange Rates (Bank of Canada, 2001).

“Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises” (with Barry Eichengreen), in Money, Factor Mobility and Trade: Essays in Honor of Robert Mundell (edited by Guillermo Calvo, Rudiger Dornbusch and Maurice Obstfeld), 2001, Cambridge: MIT Press.

“Contagion and Trade: Explaining the Incidence and Intensity of Currency Crises” (with Reuven Glick), in The Asian Financial Crisis: Causes, Contagion and Consequences (edited by PierreRichard Agenor, Marcus Miller, David Vines, and Axel Weber), 2000, Cambridge: University Press.

“Risks to Lenders and Borrowers in International Capital Markets” (with Benjamin Hermalin), in International Capital Flows (edited by Feldstein), 1999, Chicago: University Press.

“Contagious Currency Crises: Channels of Conveyance” (with Barry Eichengreen) in Changes in Exchange Rates in Rapidly Developing Countries (edited by Ito and Krueger), 1999, Chicago: University of Chicago Press.

“Exchange Rate Instability: Determinants and Predictability” (with Richard Meese) Managing Capital Flows and Exchange Rates (edited by Glick), 1998, Cambridge: Cambridge University Press.

“Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System” (with Barry Eichengreen and Charles Wyplosz) in The New Trans-Atlantic Economy (edited by Canzoneri, Grilli and Masson), 1996, Cambridge: Cambridge University Press.

“Is There A Safe Passage to EMU? Evidence from the Markets” (with Barry Eichengreen and Charles Wyplosz) in The Micro-structure of Foreign Exchange Markets (edited by Frankel, Galli and Giovannini), 1996, Chicago: University of Chicago Press.

“An Empirical Characterization of Nominal Exchange Rates” (with Jeffrey Frankel), in The Handbook of International Economics vol. III (edited by Grossman and Rogoff), 1995, Amsterdam: North-Holland.

“Finance, Growth and Public Policy” (with Mark Gertler), in Financial Reform: Theory and Experience (edited by Caprio, Atiyas and Hanson), 1994.

“Business Cycle Volatility and Openness” (with Assaf Razin), in Capital Mobility (edited by Leiderman and Razin), 1994.

“Trade with Mexico and Water Use in California Agriculture” (with Robert Feenstra), in The Mexico-U.S. Free Trade Agreement (edited by Garber), 1993.

Published Notes and Comments

“Comments on Iacoviello and Navarro's ‘Foreign Effects of Higher U.S. Interest Rates’ ” Journal of International Money and Finance, 2018.

“Do Local Bond Markets Help Fight Inflation?” (with Mark Spiegel) FRBSF Economic Letter 2016.

“How Much Does the EMU Benefit Trade? (with Reuven Glick) FRBSF Economic Letter 2016.

“Do Mega Sporting Events Promote International Trade?” (with Mark Spiegel) SAIS International Review 2011.

“The Olympic Trade Effect” (with Mark Spiegel) in Finance and Development, 2010.

“Comment” in International Financial Issues in the Pacific Rim (edited by Ito and Rose), 2008.

“The GATT: It’s Everywhere you Want it to Be” published as “Comment” American Economic Review 2007. Reprinted in Key Concepts in the New Global Economy (Baldwin, editor; Edward Elgar).

“Macroeconomic Determinants of International Trade” NBER Reporter 2004.

“Comments on Alesina, Barro and Tenreyro” in NBER MacroAnnual 2002.

“What should Academics tell Policy-Makers about Monetary Union?” in Future Directions for Monetary Policies in East Asia, Reserve Bank of Australia, 2001.

“EMU and Swedish Trade” commissioned for Swedish Employer’s Confederation, 2001.

“EMU’s Potential Effect on British Trade: A Quantitative Assessment” commissioned for Britain in Europe, 2000. Reprinted in Wirtschaftspolitische Blätter.

“Comment on Bordo et. al.” in Economic Policy 2001.

“The Empirics of Currency and Banking Crises” (with Barry Eichengreen) Wirtschaftspolitische Blätter 2001, and NBER Reporter 1999.

“Do Currency Unions Increase Trade? A “Gravity” Approach” FRBSF Weekly Letter 2000.

“Comment on Goldberg and Tracy” in Trade and Wages (edited by Feenstra).

“The Journal of International Economics at Fifty: A Retrospective” (with Robert Feenstra), Journal of International Economics 2000.

“Limiting Currency Crises and Contagion: Is There a Case for an Asian Monetary Fund?” Victoria Economic Commentaries 1999. An abbreviated version is available as a FRBSF Weekly Letter 1999.

“Comment on Edwards” in Changes in Exchange Rates in Rapidly Developing Countries (edited by Ito and Krueger), 1999, Chicago: University of Chicago Press.

“Comment on Razin and Milesi-Ferretti” in Changes in Exchange Rates in Rapidly Developing Countries (edited by Ito and Krueger), 1999, Chicago: University of Chicago Press.

“How Do Currency Crises Spread?” (with Reuven Glick) FRBSF Weekly Letter 1998.

“Comment on Dornbusch, Favero and Giavazzi” Economic Policy 1997.

“Dynamic Measures of Competitiveness: Are the Geese Still Flying in Formation?” FRBSF Weekly Letter 1997.

“Speculative Attacks in Emerging Markets: What has Mexico Taught Us?” in The Journal of International Economics (with Guillermo Calvo, Enrique Mendoza and John Rogers) 1996.

“Comment on Flood and Taylor” in Foreign Exchange Market Micro-Structure (edited by Frankel, Galli and Giovannini) 1996, Chicago, University of Chicago Press.

“Are All Devaluations Alike?” FRBSF Weekly Letter 1996.

“Comment on Svensson” in Capital Mobility (edited by Leonardo Leiderman and Assaf Razin) 1994, New York, Cambridge University Press.

“Comment on van Norden” The Exchange Rate and the Economy 1993.

“Sterling's ERM Credibility” Economics Letters 1993.

“European Exchange Rate Credibility” FRBSF Weekly Letter 1993.

“Exchange Rates and the Trade Balance: Some Evidence from Developing Countries” Economics Letters 1990.

“Okun's Ladder Reexamined” Economics Letters 1990.

“Comment on Ball, Mankiw and Romer” (with George Akerlof and Janet Yellen) Brookings Papers in Economic Activity.

“Four Paradoxes in GNP” Economics Letters 1986.

“Forward Implications of A Simple Stochastic Asset Market Model” Economics Letters 1985.

“Testing for 'News' in Foreign Exchange Markets” Economics Letters 1983.

“Inter-market Efficiency and the Canadian Foreign Exchange Market” (with Jack Selody) Economics Letters 1981.

Completed Working Papers

“Are Tariffs Bad for Growth? Yes, Say Five Decades of Data from 150 Countries” (with Davide Furceri, Swarnali Hannan, and Jonathan Ostry).

“Macroeconomic Consequences of Tariffs” (with Davide Furceri, Swarnali Hannan, and Jonathan Ostry), CEPR Discussion Paper 13,389, NBER Working Paper 25,042.

Positions Held

Dean of the National University of Singapore Business School, 2019-Present

Dean Designate, National University of Singapore Business School, 2018-2019

Associate Dean for Academic Affairs and Chair of the Faculty, Haas School, 2010-2016

Co-Chair, East Asia Seminar on Economics, 2002-present

Honorary Professor, City University of Hong Kong, 2012-present. 

Wee Cho Yaw Visiting Professor, National University of Singapore, 2012-14, 2016-19. 

Senior Fellow, International Macroeconomics, Money and Banking Track Organizer, Asian Bureau of Finance and Economic Research, 2012-present. 

Houblon-Norman/George Fellow, Bank of England, 2010, 2014

Distinguished Visiting Fellow, Central Bank of Barbados, 2018. 

MAS Term Professor, 2015. 

Super Global Fellow, Keio University, 2019. 

German Bundesbank Visiting Chair in International Monetary Policy, Freie Universität Berlin, 2011. 

Senior Fellow of the Asian Bureau of Finance and Economic Research (ABFER), 2013-Present.

Member, National Science Foundation Economics Panel 2008-2010. 

Founding Director, Risk Management Institute 2006-07. 

OUB Visiting Professor, School of Economics and Social Sciences, Singapore Management University, 2004. 

B.T. Rocca Jr. Professor of International Business and Trade, U.C. Berkeley, 1998-Present

Visiting Professorial Fellow in Monetary Economics, Victoria University and Reserve Bank of New Zealand, 1998. 

Acting Director, International Finance and Macroeconomics Program of the NBER, 1996- 1999. 

Co-Chair, International Seminar on Macroeconomics, 1996-1999. 

Managing Editor of Journal of International Economics 1995-2001. 

Primary Investigator, National Science Foundation (NSF) Grant, 1995-98. 

Chair of Economic Analysis and Policy, Haas School of Business, 1994-1997

Founding Director, Clausen Center for International Business and Policy, 1992-2007. 

Research Fellow of the Center for Economic Policy Research (CEPR), 1992-Present. 

Research Associate of the National Bureau of Economic Research (NBER) 1991-Present.

Professor of Economic Analysis and Policy, Haas School of Business, University of California at Berkeley, 1986-2019 (now retired)

Advisory Board Member (past and present): Centre de Recerca en Economia Internacional (CREI); Hong Kong Institute for Monetary Research (HKIMR); Peterson Institute for International Economics (PIIE).

Non-Academic & Visiting Scholar Positions (Alphabetical Order) 

Asian Development Bank. 

Bank of Canada, Research Department. 

Bank of England, International Finance Division. 

Bank of Israel, Research Department. 

Bank of Japan, Institute for Monetary and Economic Studies. 

Board of Governors of the Federal Reserve System, Division of Research and Statistics and International Finance Division. 

Canadian Department of Finance, International Finance Division. 

De Nederlandsche Bank, Economics and Research. 

Einaudi Institute for Economics and Finance. 

European Central Bank, Research Department. 

European University Institute, Economics Department. 

Federal Reserve Bank of New York, Economic Research Department. 

Federal Reserve Bank of San Francisco, Economic Research Department. 

Freie Universität, Berlin. 

H.M. Treasury, Chief Economic Adviser Division. 

Hong Kong Monetary Authority, Hong Kong Institute for Monetary Research. 

INSEAD, Economics and Political Sciences. 

Institut für Weltwirtschaft (Kiel Institute of World Economics). 

International Bank for Reconstruction and Development (World Bank), Country Economics Department, Economic Development Institute, and Development Prospects Group. 

International Monetary Fund, Research Department. 

Keio University, Economics Department. 

London Business School, Centre for Economic Forecasting. 

London School of Economics, Centre for Economic Performance, Financial Markets Group. 

Massachusetts Institute of Technology, Department of Economics. 

Monetary Authority of Singapore, Economics Department. 

National University of Singapore, Economics Department, Risk Management Institute, and School of Business. 

Osaka University, Institute of Social and Economic Research. 

Princeton University, International Economics Section. 

Reserve Bank of Australia, Economic Group. 

Reserve Bank of New Zealand, Economics Department. 

Shanghai University of Finance and Economics, MBA School. 

Singapore Management University, School of Economics and Social Sciences. 

Studienzentrum Gerzensee. 

Tel Aviv University, Economics Department. 

Tsinghua University, School of Economics and Management.

Universidad del CEMA, Economics Department. 

University of Bonn, Zentrum für Europäische Integrationsforschung. 

University of California at Santa Barbara, Department of Economics. 

University of Cape Town, School of Economics. 

University of Copenhagen, Economics Department. 

University of Melbourne, Business School. 

Université Libré de Bruxelles, Solvay Business School. 

University of Stockholm, Institute for International Economic Studies. 

Universitat de Valéncia, Department of Applied Economics II. 

US Department of the Treasury, Office of the Undersecretary for International Affairs. 

Victoria University of Wellington, School of Economics and Finance.

Keynote/Named Addresses/Lectures

Australasian Conference on International Macroeconomics; Bond University; CESifo (Venice); Deutsche Bundesbank; Economic Society of Singapore; European Central Bank; Freie Universität; Hong Kong Monetary Authority; Monetary Authority of Singapore; National University of Singapore; Notre Dame; Oesterreischische Nationalbank; Reserve Bank of New Zealand; Singapore Management University; Swarthmore College; Tsinghua University; University of California, Santa Cruz; University of Crete; University of Glasgow.

Editorial Board Positions

Finometrika, International Economics and Economic Policy, International Journal of Central Banking, International Journal of Finance and Economics, Journal of International Business Education, Journal of International Financial Markets, Institutions & Money, Journal of International Economics, Journal of Money, Credit, and Banking

Awards

Cheit Award for Outstanding MBA Teaching, 1999, 2011 (Finalist 1993, 1994, 1996, 2001, 2008). 

Williamson Award for Haas Faculty, 2017. 