Maurice Obstfeld

University of California, Berkeley - Department of Economics

Professor of Economics

549 Evans Hall #3880

Berkeley, CA 94720-3880

United States

http://emlab.berkeley.edu/users/obstfeld/

Centre for Economic Policy Research (CEPR)

Fellow

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

103

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6,876

CITATIONS
Rank 29

SSRN RANKINGS

Top 29

in Total Papers Citations

4,842

Scholarly Papers (103)

1.

The Unsustainable Us Current Account Position Revisited

NBER Working Paper No. w10869
Number of pages: 36 Posted: 28 Oct 2004 Last Revised: 14 Sep 2010
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 678 (30,147)
Citation 126

Abstract:

2.

The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?

NBER Working Paper No. w7777
Number of pages: 66 Posted: 19 Jul 2000 Last Revised: 25 Jun 2001
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 569 (36,886)
Citation 436

Abstract:

3.

The Logic of Currency Crises

NBER Working Paper No. w4640
Number of pages: 64 Posted: 14 Jun 2000 Last Revised: 14 Sep 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 260 (91,074)
Citation 182

Abstract:

4.

Globalization and Capital Markets

NBER Working Paper No. w8846
Number of pages: 69 Posted: 23 Mar 2002
Maurice Obstfeld and Alan M. Taylor
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics
Downloads 198 (108,174)
Citation 93

Abstract:

5.

Global Imbalances and the Financial Crisis: Products of Common Causes

CEPR Discussion Paper No. DP7606
Number of pages: 72 Posted: 11 Jan 2010
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 183 (137,896)
Citation 47
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Abstract:

current account deficit, financial crisis, financial reform, global imbalances, housing bubble

6.

Exchange Rate Dynamics Redux

NBER Working Paper No. w4693
Number of pages: 36 Posted: 27 Aug 2000
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 175 (134,408)
Citation 310

Abstract:

7.

Risk and Exchange Rates

NBER Working Paper No. w6694
Number of pages: 49 Posted: 12 Nov 1998
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 132 (145,657)
Citation 91

Abstract:

8.

International Macroeconomics: Beyond the Mundell-Fleming Model

NBER Working Paper No. w8369
Number of pages: 56 Posted: 09 Jul 2001
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 122 (178,481)
Citation 46

Abstract:

9.

Models of Currency Crises with Self-Fulfilling Features

NBER Working Paper No. w5285
Number of pages: 24 Posted: 24 Jul 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 110 (191,946)
Citation 193

Abstract:

10.

Trilemmas and Trade-Offs: Living with Financial Globalisation

BIS Working Paper No. 480
Number of pages: 66 Posted: 22 Jan 2015
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 108 (54,137)

Abstract:

policy trilemma, financial stability, financial globalisation, international policy transmission

International Finance and Growth in Developing Countries: What Have We Learned?

NBER Working Paper No. w14691
Number of pages: 86 Posted: 31 Jan 2009 Last Revised: 24 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 103 (222,628)
Citation 22

Abstract:

International Finance and Growth in Developing Countries: What Have We Learned?

IMF Staff Papers, Vol. 56, No. 1, pp. 63-111, 2009
Number of pages: 49 Posted: 07 Jun 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 2 (571,143)
Citation 22
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Abstract:

12.

Capital Mobility in the World Economy: Theory and Measurement

NBER Working Paper No. w1692
Number of pages: 66 Posted: 27 Apr 2000 Last Revised: 18 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 104 (219,858)
Citation 44

Abstract:

Financial Stability, the Trilemma, and International Reserves

NBER Working Paper No. w14217
Number of pages: 48 Posted: 18 Aug 2008
Maurice Obstfeld, Jay Shambaugh and Alan M. Taylor
University of California, Berkeley - Department of Economics, Dartmouth College - Department of Economics and University of California, Davis - Department of Economics
Downloads 92 (240,510)
Citation 49

Abstract:

Financial Stability, the Trilemma, and International Reserves

CEPR Discussion Paper No. DP6693
Number of pages: 47 Posted: 09 Jun 2008
Maurice Obstfeld, Jay Shambaugh and Alan M. Taylor
University of California, Berkeley - Department of Economics, Dartmouth College - Department of Economics and University of California, Davis - Department of Economics
Downloads 7 (541,350)
Citation 49
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Abstract:

banking crises, capital flight, central banks, exchange rate regimes, financial development, foreign exchange, global imbalances, Guidotti-Greenspan rule, international liquidity, intervention, lender of last resort, net foreign assets, sterilization, sudden stop

14.

The Mirage of Fixed Exchange Rates

NBER Working Paper No. w5191
Number of pages: 46 Posted: 14 Jun 2000 Last Revised: 22 Sep 2010
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 99 (205,871)
Citation 145

Abstract:

15.

The Global Capital Market: Benefactor or Menace?

NBER Working Paper No. w6559
Number of pages: 41 Posted: 20 Jun 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 87 (235,452)
Citation 75

Abstract:

16.

The Trilemma in History: Tradeoffs Among Exchange Rates, Monetary Policies, and Capital Mobility

NBER Working Paper No. w10396
Number of pages: 41 Posted: 10 May 2004
Maurice Obstfeld, Jay Shambaugh and Alan M. Taylor
University of California, Berkeley - Department of Economics, Dartmouth College - Department of Economics and University of California, Davis - Department of Economics
Downloads 83 (222,902)
Citation 44

Abstract:

17.

Financial Instability, Reserves, and Central Bank Swap Lines in the Panic of 2008

NBER Working Paper No. w14826
Number of pages: 23 Posted: 29 Mar 2009
Maurice Obstfeld, Jay Shambaugh and Alan M. Taylor
University of California, Berkeley - Department of Economics, Dartmouth College - Department of Economics and University of California, Davis - Department of Economics
Downloads 82 (245,675)
Citation 22

Abstract:

18.

Intrinsic Bubbles: the Case of Stock Prices

NBER Working Paper No. w3091
Number of pages: 45 Posted: 08 Jun 2004
Kenneth Froot and Maurice Obstfeld
National Bureau of Economic Research (NBER) and University of California, Berkeley - Department of Economics
Downloads 82 (227,459)
Citation 73

Abstract:

19.

Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies

NBER Working Paper No. w10849
Number of pages: 38 Posted: 02 Nov 2004 Last Revised: 25 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 81 (238,744)
Citation 9

Abstract:

20.

Two-Step Two-Stage Least Squares Estimation in Models with Rational Expectations

NBER Working Paper No. t0011
Number of pages: 38 Posted: 04 Oct 2001
Maurice Obstfeld, Robert E. Cumby and John P. Huizinga
University of California, Berkeley - Department of Economics, Georgetown University - Department of Economics and University of Chicago - Booth School of Business
Downloads 81 (235,452)
Citation 14

Abstract:

Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period

NBER Working Paper No. w10393
Number of pages: 43 Posted: 13 May 2004
Maurice Obstfeld, Alan M. Taylor and Jay Shambaugh
University of California, Berkeley - Department of Economics, University of California, Davis - Department of Economics and Dartmouth College - Department of Economics
Downloads 54 (326,184)
Citation 13

Abstract:

Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period

CEPR Discussion Paper No. 4353
Number of pages: 45 Posted: 18 May 2004
Maurice Obstfeld, Jay Shambaugh and Alan M. Taylor
University of California, Berkeley - Department of Economics, Dartmouth College - Department of Economics and University of California, Davis - Department of Economics
Downloads 20 (466,915)
Citation 13
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Abstract:

Trilemma, exchange rates, monetary policy

22.

Rational and Self-Fulfilling Balance-of-Payments Crises

NBER Working Paper No. w1486
Number of pages: 26 Posted: 28 Jun 2004 Last Revised: 26 Jul 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 72 (277,192)
Citation 160

Abstract:

Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics

NBER Working Paper No. w9118
Number of pages: 39 Posted: 23 Aug 2002
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 43 (361,200)
Citation 29

Abstract:

Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics

CEPR Discussion Paper No. 3533
Number of pages: 41 Posted: 11 Oct 2002
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 26 (432,820)
Citation 29
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Abstract:

Exchange rate policy, international adjustment, expenditure-switching effects, elasticity pessimism, international competitiveness

24.
Downloads 65 (293,009)
Citation 35

The Case for Open-Market Purchases in a Liquidity Trap

NBER Working Paper No. w9814
Number of pages: 50 Posted: 05 Jul 2003
Alan J. Auerbach and Maurice Obstfeld
University of California, Berkeley - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 48 (344,766)
Citation 35

Abstract:

The Case for Open-Market Purchases in a Liquidity Trap

CEPR Discussion Paper No. 4447
Number of pages: 62 Posted: 20 Jul 2004
Alan J. Auerbach and Maurice Obstfeld
University of California, Berkeley - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 17 (484,462)
Citation 35
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Abstract:

Liquidity trap, zero bound, Japan

25.

Exchange-Rate Dynamics

NBER Working Paper No. w1230
Number of pages: 97 Posted: 23 Apr 2004
Maurice Obstfeld and Alan C. Stockman
University of California, Berkeley - Department of Economics and University of Rochester - Department of Economics
Downloads 63 (268,733)
Citation 348

Abstract:

26.

International Capital Mobility in the 1990s

NBER Working Paper No. w4534
Number of pages: 99 Posted: 15 Sep 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 62 (283,804)
Citation 59

Abstract:

27.

The Unsustainable U.S. Current Account Position Revisited

CEPR Discussion Paper No. 5416
Number of pages: 54 Posted: 27 Mar 2006
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 57 (313,062)
Citation 127
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Abstract:

External imbalance, net foreign assets, real exchange rate, sustainability, US current account deficit

28.

Open-Economy Macroeconomics, Developments in Theory and Policy

NBER Working Paper No. w6319
Number of pages: 43 Posted: 20 Jul 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 57 (300,156)
Citation 9

Abstract:

29.

Balance-of-Payments Crises and Devaluation

NBER Working Paper No. w1103
Number of pages: 21 Posted: 27 Apr 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 55 (318,537)
Citation 129

Abstract:

30.

Risk-Taking, Global Diversification, and Growth

NBER Working Paper No. w4093
Number of pages: 41 Posted: 24 Jul 2007 Last Revised: 12 Sep 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 53 (310,428)
Citation 216

Abstract:

31.

The Great Depression as a Watershed: International Capital Mobility Over the Long Run

NBER Working Paper No. w5960
Number of pages: 67 Posted: 20 Jun 2000
Maurice Obstfeld and Alan M. Taylor
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics
Downloads 53 (307,833)
Citation 48

Abstract:

32.

Exchange-Rate Expectations and Nominal Interest Differentials: A Test Ofthe Fisher Hypothesis

NBER Working Paper No. w0537
Number of pages: 11 Posted: 23 Apr 2004
Robert E. Cumby and Maurice Obstfeld
Georgetown University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 52 (307,833)
Citation 11

Abstract:

33.

New Directions for Stochastic Open Economy Models

NBER Working Paper No. w7313
Number of pages: 48 Posted: 24 Feb 2000
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 52 (310,428)
Citation 173

Abstract:

34.

Time of Troubles: The Yen and Japan's Economy, 1985-2008

NBER Working Paper No. w14816
Number of pages: 91 Posted: 29 Mar 2009
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 51 (310,428)
Citation 4

Abstract:

35.

International Finance

NBER Working Paper No. w2077
Number of pages: 39 Posted: 01 Jun 2004 Last Revised: 04 Apr 2015
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 50 (315,770)
Citation 16

Abstract:

36.

Commodity Trade and International Risk Sharing: How Much Do Financial Markets Matter?

NBER Working Paper No. w3027
Number of pages: 50 Posted: 21 Dec 2000
Harold L. Cole and Maurice Obstfeld
University of Pennsylvania - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 50 (307,833)
Citation 152

Abstract:

37.

Floating Exchange Rates: Experience and Prospects

NBER Working Paper No. R0792
Number of pages: 82 Posted: 22 Oct 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 50 (305,237)
Citation 29

Abstract:

38.

External Adjustment

NBER Working Paper No. w10843
Number of pages: 45 Posted: 02 Nov 2004 Last Revised: 19 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 49 (336,014)
Citation 39

Abstract:

Sovereign Risk, Credibility and the Gold Standard: 1870-1913 Versus 1925-31

NBER Working Paper No. w9345
Number of pages: 48 Posted: 21 Nov 2002
Maurice Obstfeld and Alan M. Taylor
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics
Downloads 30 (412,853)
Citation 41

Abstract:

Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31

CEPR Discussion Paper No. 3688
Number of pages: 50 Posted: 29 Jan 2003
Maurice Obstfeld and Alan M. Taylor
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics
Downloads 19 (472,838)
Citation 41
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Abstract:

Gold standard, sovereign risk, credibility, monetary regimes, exchange rates

40.

Capital Controls, the Dual Exchange Rate, and Devaluation

NBER Working Paper No. w1324
Number of pages: 34 Posted: 06 Mar 2007 Last Revised: 16 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 45 (348,118)
Citation 17

Abstract:

41.

Regional Nonadjustment and Fiscal Policy: Lessons for Emu

NBER Working Paper No. w6431
Number of pages: 87 Posted: 12 Jul 2000 Last Revised: 08 Oct 2010
Maurice Obstfeld and Giovanni Peri
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics
Downloads 45 (348,118)
Citation 35

Abstract:

42.
Downloads 44 (351,298)
Citation 14

Does the Current Account Still Matter?

NBER Working Paper No. w17877
Number of pages: 66 Posted: 02 Mar 2012
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 37 (383,275)
Citation 14

Abstract:

Does the Current Account Still Matter?

CEPR Discussion Paper No. DP8888
Number of pages: 68 Posted: 04 Apr 2012
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 7 (541,350)
Citation 14
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Abstract:

Current account, External adjustment problems, Financial stability, Global imbalances, Gross financial flows, Intertemporal budget constraint, Net international investment position

43.

Saving, Investment, and Gold: A Reassessment of Historical Current Account Data

NBER Working Paper No. w6103
Number of pages: 61 Posted: 09 Feb 1998 Last Revised: 06 Oct 2010
Matthew T. Jones and Maurice Obstfeld
International Monetary Fund (IMF) - Monetary and Exchange Affairs Department and University of California, Berkeley - Department of Economics
Downloads 43 (341,944)
Citation 23

Abstract:

44.
Downloads 41 (361,116)
Citation 19

Stories of the Twentieth Century for the Twenty-First

NBER Working Paper No. w17252
Number of pages: 70 Posted: 29 Jul 2011
Pierre-Olivier Gourinchas and Maurice Obstfeld
University of California, Berkeley - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 35 (391,323)
Citation 19

Abstract:

Stories of the Twentieth Century for the Twenty-First

CEPR Discussion Paper No. DP8518
Number of pages: 72 Posted: 12 Aug 2011
Pierre-Olivier Gourinchas and Maurice Obstfeld
University of California, Berkeley - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 6 (546,475)
Citation 19
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Abstract:

banking crisis, Credit boom, currency crisis, emerging markets, leverage, sovereign default

45.

Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited

NBER Working Paper No. w6053
Number of pages: 48 Posted: 20 Jul 2000
Maurice Obstfeld and Alan M. Taylor
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics
Downloads 39 (368,114)
Citation 71

Abstract:

46.

Intertemporal Dependence, Impatience, and Dynamics

NBER Working Paper No. w3028
Number of pages: 48 Posted: 17 Oct 2007
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 37 (357,865)
Citation 23

Abstract:

47.

The Renminbi's Dollar Peg at the Crossroads

CEPR Discussion Paper No. 5771
Number of pages: 38 Posted: 22 Sep 2006
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 37 (375,165)
Citation 9
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Abstract:

renminbi, China currency, China balance of payments, fixed exchange rate exit strategy

48.

How Integrated are World Capital Markets? Some New Tests

NBER Working Paper No. w2075
Number of pages: 41 Posted: 26 May 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 37 (357,865)
Citation 14

Abstract:

The International Monetary System: Living with Asymmetry

NBER Working Paper No. w17641
Number of pages: 61 Posted: 03 Dec 2011 Last Revised: 11 Nov 2013
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 26 (432,820)
Citation 1

Abstract:

The International Monetary System: Living with Asymmetry

CEPR Discussion Paper No. DP8703
Number of pages: 63 Posted: 22 Dec 2011
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 9 (530,447)
Citation 1
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Abstract:

currency wars, exchange rates, global imbalances, international monetary system, liquidity, Triffin dilemma

50.

Can We Sterilize? Theory and Evidence

NBER Working Paper No. w0833
Number of pages: 14 Posted: 29 Dec 2006
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 35 (368,114)
Citation 12

Abstract:

51.

Are Industrial-Country Consumption Risks Globally Diversified?

NBER Working Paper No. w4308
Number of pages: 57 Posted: 28 Dec 2006 Last Revised: 03 Jan 2007
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 33 (371,574)
Citation 45

Abstract:

52.

Exchange Rate Dynamics Under Stochastic Regime Shifts: a Unified Approach

NBER Working Paper No. w2835
Number of pages: 28 Posted: 23 Apr 2004
Kenneth Froot and Maurice Obstfeld
National Bureau of Economic Research (NBER) and University of California, Berkeley - Department of Economics
Downloads 33 (371,574)
Citation 32

Abstract:

53.

Do We Really Need a New International Monetary Compact?

NBER Working Paper No. w7864
Number of pages: 40 Posted: 25 Aug 2000
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 33 (378,880)
Citation 21

Abstract:

54.

Emu: Ready, or Not?

NBER Working Paper No. w6682
Number of pages: 47 Posted: 06 Oct 1998 Last Revised: 08 May 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 33 (375,165)
Citation 12

Abstract:

55.

Dynamic Seigniorage Theory: an Exploration

NBER Working Paper No. w2869
Number of pages: 59 Posted: 20 Nov 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 32 (378,880)
Citation 9

Abstract:

56.

International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates: A Review of Recent Evidence

NBER Working Paper No. w0921
Number of pages: 60 Posted: 01 Jun 2004
Robert E. Cumby and Maurice Obstfeld
Georgetown University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 31 (375,165)
Citation 53

Abstract:

57.

Capital Flows, the Current Account, and the Real Exchange Rate: Consequences of Liberalization and Stabilization

NBER Working Paper No. w1526
Number of pages: 49 Posted: 22 Jul 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 30 (382,631)
Citation 11

Abstract:

58.

Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate

NBER Working Paper No. w12699
Number of pages: 20 Posted: 20 Nov 2006 Last Revised: 14 Sep 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 29 (394,302)
Citation 8

Abstract:

59.

Aggregate Spending and the Terms of Trade: Is There a Laursen-Metzler Effect?

NBER Working Paper No. w0686
Number of pages: 34 Posted: 18 Aug 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 29 (390,337)
Citation 57

Abstract:

60.

Intermediate Imports, the Terms of Trade, and the Dynamics of the Exchange Rate and Current Account

NBER Working Paper No. w0540
Number of pages: 21 Posted: 31 May 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 29 (390,337)
Citation 8

Abstract:

61.

The Intertemporal Approach to the Current Account

NBER Working Paper No. w4893
Number of pages: 89 Posted: 17 May 2011
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 28 (382,631)
Citation 90

Abstract:

62.

Speculative Hyperinflations in Maximizing Models: Can We Rule Them Out?

NBER Working Paper No. w0855
Number of pages: 32 Posted: 04 Jul 2004
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 28 (390,337)
Citation 50

Abstract:

63.

Monetary and Fiscal Remedies for Deflation

NBER Working Paper No. w10290
Number of pages: 13 Posted: 16 Aug 2010 Last Revised: 28 Dec 2011
Alan J. Auerbach and Maurice Obstfeld
University of California, Berkeley - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 27 (416,017)

Abstract:

64.

Exchange Rates, Inflation and the Sterilization Problem: Germany, 1975-1981

NBER Working Paper No. w0963
Number of pages: 53 Posted: 23 Apr 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 27 (406,939)
Citation 8

Abstract:

65.

Global Implications of Self-Orientated National Monetary Rules

CEPR Discussion Paper No. 2856
Number of pages: 40 Posted: 17 Jul 2001
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 27 (416,017)
Citation 81
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Abstract:

International policy coordination, monetary policy rules, monetary institutions

66.

The Capital Inflows Problem Revisited: a Stylized Model of Southern Cone Disinflation

NBER Working Paper No. w1456
Number of pages: 42 Posted: 06 Jul 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 26 (394,302)
Citation 7

Abstract:

67.

Ruling Out Nonstationary Speculative Bubbles

NBER Working Paper No. w1601
Number of pages: 26 Posted: 29 Jun 2004
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 26 (402,557)
Citation 14

Abstract:

68.

Evaluating Risky Consumption Paths: the Role of Intertemporal Substitutability

NBER Working Paper No. t0120
Number of pages: 39 Posted: 27 Jun 2007
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 24 (411,402)
Citation 35

Abstract:

69.

Intertemporal Price Speculation and the Optimal Current-Account Deficit

NBER Working Paper No. w1100
Number of pages: 28 Posted: 08 Jun 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 24 (406,939)
Citation 11

Abstract:

70.

Imperfect Asset Substitutability and Monetary Policy Under Fixed Exchange Rates

NBER Working Paper No. w0485
Number of pages: 24 Posted: 26 May 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 24 (420,833)
Citation 3

Abstract:

71.

The Adjustment Mechanism

NBER Working Paper No. w3943
Number of pages: 105 Posted: 05 Jul 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 23 (411,402)
Citation 8

Abstract:

72.

Sterilization and Offsetting Capital Movements: Evidence from West Germany, 1960-1970

NBER Working Paper No. w0494
Number of pages: 53 Posted: 21 Mar 2001
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 23 (416,017)
Citation 2

Abstract:

73.

Peso Problems, Bubbles, and Risk in the Empirical Assessment of Exchange-Rate Behavior

NBER Working Paper No. w2203
Number of pages: 26 Posted: 25 Jun 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 22 (420,833)
Citation 4

Abstract:

74.

Exchange Rate Dynamics with Sluggish Prices Under Alternative Price-Adjustment Rules

NBER Working Paper No. w1173
Number of pages: 29 Posted: 23 Apr 2004 Last Revised: 17 Sep 2010
Maurice Obstfeld and Kenneth Rogoff
University of California, Berkeley - Department of Economics and Harvard University - Department of Economics
Downloads 22 (411,402)
Citation 13

Abstract:

75.

Fiscal Deficits and Relative Prices in a Growing World Economy

NBER Working Paper No. w2725
Number of pages: 50 Posted: 23 Apr 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 21 (425,767)
Citation 14

Abstract:

76.

Destabilizing Effects of Exchange-Rate Escape Clauses

NBER Working Paper No. w3603
Number of pages: 39 Posted: 18 Apr 2002
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 21 (420,833)
Citation 36

Abstract:

77.

Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation

NBER Working Paper No. w0599
Number of pages: 21 Posted: 09 Jun 2004 Last Revised: 23 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 20 (430,793)
Citation 22

Abstract:

78.

Capital Mobility and the Scope for Sterilization: Mexico in the 1970s

NBER Working Paper No. w0770
Number of pages: 43 Posted: 06 Apr 2004 Last Revised: 11 Aug 2010
Robert E. Cumby and Maurice Obstfeld
Georgetown University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 20 (430,793)
Citation 7

Abstract:

79.

Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments

NBER Working Paper No. w1437
Number of pages: 44 Posted: 04 Jul 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 19 (441,098)
Citation 18

Abstract:

80.

Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes

NBER Working Paper No. w1593
Number of pages: 32 Posted: 22 Jun 2004
Guillermo A. Calvo and Maurice Obstfeld
Columbia University - School of International & Public Affairs (SIPA) and University of California, Berkeley - Department of Economics
Downloads 19 (435,895)
Citation 14

Abstract:

81.

A Strategy for Launching the Euro

NBER Working Paper No. w6233
Number of pages: 52 Posted: 07 Jul 2000
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 18 (461,960)
Citation 2

Abstract:

82.

Financial Flows, Financial Crises, and Global Imbalances

CEPR Discussion Paper No. DP8611
Number of pages: 31 Posted: 01 Nov 2011
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 17 (467,154)
Citation 14
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Abstract:

current account balance, financial instability, global imbalances, international asset positions, international financial flows

83.

Transitory Terms-of-Trade Shocks and the Current Account: The Case of Constant Time Preference

NBER Working Paper No. w0834
Number of pages: 23 Posted: 08 Jan 2008
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 17 (451,472)
Citation 3

Abstract:

84.

The Trilemma in History: Trade-offs Among Exchange Rates, Monetary Policies and Capital Mobility

CEPR Discussion Paper No. 4352
Number of pages: 45 Posted: 18 May 2004
Maurice Obstfeld, Jay Shambaugh and Alan M. Taylor
University of California, Berkeley - Department of Economics, Dartmouth College - Department of Economics and University of California, Davis - Department of Economics
Downloads 17 (461,960)
Citation 36
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Abstract:

Trilemma, exchange rates, monetary policy

85.

Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations

NBER Working Paper No. w0557
Number of pages: 17 Posted: 23 Mar 2001
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 17 (467,154)
Citation 4

Abstract:

86.

The Effectiveness of Foreign-Exchange Intervention: Recent Experience

NBER Working Paper No. w2796
Number of pages: 74 Posted: 01 Aug 2007 Last Revised: 24 Aug 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 16 (446,225)
Citation 19

Abstract:

87.

International Adjustment with Habit-Forming Consumption: A Diagrammatic Exposition

NBER Working Paper No. w4094
Number of pages: 41 Posted: 09 Feb 2007 Last Revised: 12 Sep 2010
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 16 (456,761)
Citation 7

Abstract:

88.

Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight

NBER Working Paper No. w0685
Number of pages: 48 Posted: 18 Aug 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 16 (441,098)
Citation 2

Abstract:

89.

Inflation, Real Interest, and the Determinacy of Equilibrium in an Optimizing Framework

NBER Working Paper No. w0723
Number of pages: 23 Posted: 18 Aug 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 16 (456,761)

Abstract:

90.

Exchange-Rate Dynamics and Optimal Asset Accumulation Revisited

NBER Working Paper No. t0064
Number of pages: 10 Posted: 08 Jan 2007 Last Revised: 04 Apr 2015
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 15 (461,960)
Citation 16

Abstract:

91.

Competitiveness, Realignment, and Speculation: the Role of Financial Markets

NBER Working Paper No. w2539
Number of pages: 29 Posted: 07 Apr 2004
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 14 (441,098)
Citation 2

Abstract:

The Euro and the Geography of International Debt Flows

NBER Working Paper No. w20033
Number of pages: 46 Posted: 14 Apr 2014
Galina Hale and Maurice Obstfeld
Federal Reserve Bank of San Francisco and University of California, Berkeley - Department of Economics
Downloads 11 (519,356)
Citation 1

Abstract:

The Euro and the Geography of International Debt Flows

CEPR Discussion Paper No. DP9937
Number of pages: 43 Posted: 02 Jun 2014
Galina Hale and Maurice Obstfeld
Federal Reserve Bank of San Francisco and University of California, Berkeley - Department of Economics
Downloads 1 (582,785)
Citation 1
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Abstract:

EMU, euro crisis, global imbalances, international banking, international debt

93.

International Liquidity: The Fiscal Dimension

NBER Working Paper No. w17379
Number of pages: 30 Posted: 21 Sep 2011
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 12 (461,960)
Citation 10

Abstract:

94.

Stochastic Process Switching: Some Simple Solutions

NBER Working Paper No. w2998
Number of pages: 17 Posted: 13 Nov 2007 Last Revised: 12 Sep 2010
Kenneth Froot and Maurice Obstfeld
National Bureau of Economic Research (NBER) and University of California, Berkeley - Department of Economics
Downloads 12 (472,324)
Citation 16

Abstract:

95.

In Search of the Armington Elasticity

NBER Working Paper No. w20063
Number of pages: 54 Posted: 21 Apr 2014
University of California, Davis - Department of Economics, University of California, University of California, Berkeley - Department of Economics and University of California, Davis
Downloads 9 (493,203)
Citation 11

Abstract:

96.

Finance at Center Stage: Some Lessons of the Euro Crisis

CEPR Discussion Paper No. DP9415
Number of pages: 79 Posted: 10 Apr 2013
Maurice Obstfeld
University of California, Berkeley - Department of Economics
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Abstract:

banking union, euro crisis, financial stability, trilemma

97.

Lenders of Last Resort in a Globalized World

CEPR Discussion Paper No. DP7355
Number of pages: 33 Posted: 26 Aug 2009
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 8 (513,269)
Citation 4
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Abstract:

central banking, financial crisis, International Monetary Fund, international monetary system, Lender of last resort

98.

The Capitalization of Income Streams and the Effects of Open Market Policy Under Fixed Exchange Rates

NBER Working Paper No. w0528
Number of pages: 19 Posted: 15 Aug 2001
Maurice Obstfeld
University of California, Berkeley - Department of Economics
Downloads 3 (518,016)
Citation 85

Abstract:

99.

How to Improve Inflation Targeting in Canada

IMF Working Paper No. 16/192
Number of pages: 44 Posted: 09 Dec 2016
University of California, Berkeley - Department of Economics, Government of Canada - Bank of Canada, International Monetary Fund (IMF), International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) and International Monetary Fund (IMF)
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Abstract:

Inflation targeting, Canada, Monetary policy, United States, United Kingdom, Central banks, Transparency, Keynesian economics, Econometric models, Canada; inflation targeting; monetary policy; fiscal policy

100.

Never Say Never: Commentary on a Policymaker's Reflections

IMF Economic Review, Vol. 62, Issue 4, pp. 656-693, 2014
Number of pages: 38 Posted: 29 Dec 2014
Maurice Obstfeld
University of California, Berkeley - Department of Economics
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Abstract:

101.

Never Say Never: Commentary on a PolicymakerÂ’'s Reflections

CEPR Discussion Paper No. DP9802
Number of pages: 71 Posted: 02 Jun 2014
Maurice Obstfeld
University of California, Berkeley - Department of Economics
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Abstract:

Asian crisis, capital controls, exchange rate regime, financial crises, foreign exchange intervention, macro-prudential regulation, Stanley Fischer, transparency

102.

On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability

CEPR Discussion Paper No. DP9563
Posted: 24 Jul 2013
Maurice Obstfeld
University of California, Berkeley - Department of Economics

Abstract:

bank resolution, banking crisis, financial crisis, financial stability, Fiscal policy, monetary policy

103.

Non-Linear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited

Journal of the Japanese and International Economies, Vol. 11, No. 4, December 1997
Posted: 29 Apr 1998
Maurice Obstfeld and Alan M. Taylor
University of California, Berkeley - Department of Economics and University of California, Davis - Department of Economics

Abstract: