Now showing items 1-20 of 24

    • Addicted to Dollars 

      Reinhart, Carmen; Rogoff, Kenneth; Savastano, Miguel (2014)
      Many emerging market economies are dollarized in varying degrees. How important is this for the conduct of monetary policy and choice of exchange rate regime? We propose a composite measure of dollarization, identify its ...
    • The Aftermath of Financial Crises 

      Reinhart, Carmen M.; Rogoff, Kenneth S. (American Economic Association, 2009)
    • Can Exchange Rates Forecast Commodity Prices? 

      Rogoff, Kenneth S.; Chen, Yu-Chin; Rossi, Barbara (Oxford University Press (OUP), 2010)
      We show that "commodity currency" exchange rates have remarkably robust power in predicting global commodity prices, both in-sample and out-of-sample, and against a variety of alternative benchmarks. This result is of ...
    • A Constant Recontracting Model of Sovereign Debt 

      Bulow, Jeremy; Rogoff, Kenneth S. (University of Chicago Press, 1989)
      We present a dynamic model of international lending in which borrowers cannot commit to future repayments and in which debtors can sometimes successfully negotiate partial defaults or "rescheduling agreements." All parties ...
    • Costs and Benefits to Phasing Out Paper Currency 

      Rogoff, Kenneth S. (University of Chicago Press, 2014)
      Despite advances in transactions technologies, paper currency still constitutes a notable percentage of the money supply in most countries. For example, it constitutes roughly 10% of the US Federal Reserve’s main monetary ...
    • Dealing with debt 

      Reinhart, Carmen M.; Reinhart, Vincent; Rogoff, Kenneth S. (Elsevier BV, 2015)
      This paper explores the menu of options for renormalizing public debt levels relative to nominal activity in the long run, should governments eventually decide to do so. Although debt ratios may need to rise further in ...
    • Essays in International Finance and Macroeconomics 

      Schreger, Jesse (2015-04-28)
      The way in which governments borrow has changed dramatically over the last decade. The first two chapters of this dissertation study the implications of the rise of local currency sovereign borrowing in emerging markets. ...
    • Essays on International Finance and Asset Pricing 

      Powers, Thomas Yang (2016-05-14)
      My first essay investigates the relationship between risk and return for investment projects within the firm. I focus on the film industry and find that more volatile movies have higher rates of return, even though this ...
    • Exchange Rate Dynamics Redux 

      Obstfeld, Maurice; Rogoff, Kenneth S. (University of Chicago Press, 1995)
      We develop an analytically tractable two-country model that marries a full account of global macroeconomic dynamics to a supply framework based on monopolistic competition and sticky nominal prices. The model offers simple ...
    • Exchange Rate Volatility and Productivity Growth: The Role of Financial Development 

      Aghion, Philippe; Bacchetta, Philippe; Ranciere, Romain; Rogoff, Kenneth S. (Elsevier, 2009)
      This paper offers empirical evidence that real exchange rate volatility can have a significant impact on long-term rate of productivity growth, but the effect depends critically on a country’s level of financial development. ...
    • From Financial Crash to Debt Crisis 

      Reinhart, Carmen M; Rogoff, Kenneth (American Economic Association, 2011-08)
      Newly developed historical time series on public debt, along with data on external debts, allow a deeper analysis of the debt cycles underlying serial debt and banking crises. We test three related hypotheses at both "world" ...
    • Global Current Account Imbalances and Exchange Rate Adjustments 

      Obstfeld, Maurice; Rogoff, Kenneth (Johns Hopkins University Press, 2005)
    • Global Implications of Self-Oriented National Monetary Rules 

      Obstfeld, Maurice; Rogoff, Kenneth S. (Oxford University Press (OUP), 2002)
      It is well-known that if international linkages are relatively small, the potential gains to international monetary policy coordination are typically quite limited. But when goods and financial markets are tightly linked, ...
    • Grants versus Loans for Development Banks 

      Bulow, Jeremy; Rogoff, Kenneth S. (American Economic Association, 2005)
    • Growth in a Time of Debt 

      Reinhart, Carmen M.; Rogoff, Kenneth S. (American Economic Association, 2010)
    • Is the 2007 US Sub-Prime Financial Crisis So Different? An International Historical Comparison 

      Reinhart, Carmen M.; Rogoff, Kenneth S. (American Economic Association, 2008)
    • Japan’s exorbitant privilege 

      Rogoff, Kenneth S.; Tashiro, Takeshi (Elsevier BV, 2015)
      The concept of "exorbitant privilege" has received great attention from policy makers as well as academics worldwide. The idea originally referred to the willingness of foreigners to hold large quantities of US government ...
    • The Modern History of Exchange Rate Arrangements: A Reinterpretation 

      Reinhart, Carmen M.; Rogoff, Kenneth S. (Oxford University Press (OUP), 2004)
      We develop a novel system of reclassifying historical exchange rate regimes. One key difference between our study and previous classifications is that we employ monthly data on market-determined parallel exchange rates ...
    • Serial Default and the “Paradox” of Rich-to-Poor Capital Flows 

      Reinhart, Carmen M.; Rogoff, Kenneth S. (American Economic Association, 2004)
    • Shifting Mandates: The Federal Reserve's First Centennial 

      Reinhart, Carmen M.; Rogoff, Kenneth S. (American Economic Association, 2013)
      The Federal Reserve's mandate has evolved considerably over the organization's hundred-year history. It was changed from an initial focus in 1913 on financial stability, to fiscal financing in World War II and its aftermath, ...