Ricardo J. Caballero

Massachusetts Institute of Technology (MIT) - Department of Economics

Ford International Professor of Economics

50 Memorial Drive

Building E52-528

Cambridge, MA 02142

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Massachusetts Institute of Technology (MIT) - Department of Economics

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SCHOLARLY PAPERS

108

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2,914

Scholarly Papers (108)

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1.

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

Downloads 6,087 ( 1,026)
Citation 19

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

MIT Department of Economics Working Paper No. 10-16
Number of pages: 23 Posted: 27 Sep 2010 Last Revised: 10 Oct 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 6,001 (1,044)
Citation 19

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Pretense of knowledge, DSGE, core and periphery of macroeconomics, financial crisis, complexity, robust control, uncertainty, rational expectations

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

NBER Working Paper No. w16429
Number of pages: 24 Posted: 12 Oct 2010 Last Revised: 15 Oct 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 86 (288,190)
Citation 19

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2.

A Caricature (Model) of the World Economy

MIT Department of Economics Working Paper No. 10-17
Number of pages: 18 Posted: 14 Dec 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 3,729 (2,427)

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Global equilibrium, shortage of assets, interest rates, asset prices, booms and busts, sovereign crises, financial reform and development, fiscal deficits, flight to quality, decoupling, quantitative easing

3.

The 'Other' Imbalance and the Financial Crisis

MIT Department of Economics Working Paper No. 09-32
Number of pages: 43 Posted: 31 Dec 2009
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 1,241 (15,226)
Citation 13

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Global imbalances, financial crisis, safe assets shortage, securitization, systemic fragility, panic, complexity, Knightian uncertainty, contingent insurance, TIC, contingent CDS

4.

Complexity and Financial Panics

Downloads 986 ( 21,539)
Citation 13

Complexity and Financial Panics

MIT Department of Economics Working Paper No. 09-17
Number of pages: 37 Posted: 05 Jun 2009 Last Revised: 13 Dec 2016
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 901 (24,177)
Citation 13

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Financial network, complexity, uncertainty, flight to quality, cascades,crises, information cost, financial panic, credit crunch

Complexity and Financial Panics

NBER Working Paper No. w14997
Number of pages: 37 Posted: 26 May 2009 Last Revised: 25 Jun 2010
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 85 (290,393)
Citation 13

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5.

Flight to Quality and Bailouts: Policy Remarks and a Literature Review

MIT Department of Economics Working Paper No. 08-21
Number of pages: 27 Posted: 09 Nov 2008
Ricardo J. Caballero and Pablo D. Kurlat
Massachusetts Institute of Technology (MIT) - Department of Economics and Stanford University - Department of Economics
Downloads 955 (22,554)
Citation 8

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subprime crisis, liquidity, bailout, intermediation, credit spreads

6.

Carry Trade and Systemic Risk: Why are FX Options So Cheap?

Downloads 826 ( 27,831)
Citation 2

Carry Trade and Systemic Risk: Why are FX Options So Cheap?

MIT Department of Economics Working Paper No. 12-28
Number of pages: 45 Posted: 12 Dec 2012
Ricardo J. Caballero and Joseph B. Doyle
Massachusetts Institute of Technology (MIT) - Department of Economics and Cornerstone Research
Downloads 775 (29,867)
Citation 2

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carry trade, forward premium puzzle, vix futures and rolldown, interest parity condition, Fama-French factors

Carry Trade and Systemic Risk: Why are FX Options so Cheap?

NBER Working Paper No. w18644
Number of pages: 45 Posted: 22 Dec 2012 Last Revised: 05 Jan 2013
Ricardo J. Caballero and Joseph B. Doyle
Massachusetts Institute of Technology (MIT) - Department of Economics and Cornerstone Research
Downloads 51 (382,742)
Citation 2

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7.

The 'Surprising' Origin and Nature of Financial Crises: A Macroeconomic Policy Proposal

MIT Department of Economics Working Paper No. 09-24
Number of pages: 40 Posted: 15 Sep 2009
Ricardo J. Caballero and Pablo D. Kurlat
Massachusetts Institute of Technology (MIT) - Department of Economics and Stanford University - Department of Economics
Downloads 798 (29,176)
Citation 14

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financial crises, Knightian uncertainty, macroeconomic risk, credit default swaps, asset insurance

8.

The Future of the IMF

MIT Department of Economics Working Paper No. 03-03
Number of pages: 14 Posted: 22 Jan 2003
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 688 (35,730)
Citation 14

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Capital Flows, Crises, Hedging, Insurance, Contingent Markets, Contractible and Noncontractible Shocks, Contingent-market and Crises Department, IMF, IFIs, Contingent-EM-CDO, Fiscal and Monetary Rules

9.

Creative Destruction and Development: Institutions, Crises, and Restructuring

Downloads 495 ( 54,760)
Citation 24

Creative Destruction and Development: Institutions, Crises, and Restructuring

MIT Dept. of Economics Working Paper No. 00-17
Number of pages: 42 Posted: 14 Aug 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 437 (63,307)
Citation 24

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Creative Destruction and Development: Institutions, Crises, and Restructuring

NBER Working Paper No. w7849
Number of pages: 42 Posted: 20 Aug 2000 Last Revised: 05 Mar 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 58 (359,867)
Citation 24

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10.

Effective Labor Regulation and Microeconomic Flexibility

Downloads 487 ( 55,939)
Citation 36

Effective Labor Regulation and Microeconomic Flexibility

Cowles Foundation Discussion Paper No. 1480, MIT Department of Economics Working Paper No. 04-30, Yale University Economic Growth Center Discussion Paper No. 893, FRB of Boston Working Paper No. 04-6
Number of pages: 30 Posted: 25 Aug 2004 Last Revised: 02 Mar 2011
Ricardo J. Caballero, Eduardo M. R. A. Engel, Kevin Cowan and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics, Adolfo Ibanez University and University of Chile
Downloads 426 (65,303)
Citation 36

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Microeconomic rigidities, Creative-destruction, Job security regulation, Adjustment costs, Rule of law

Effective Labor Regulation and Microeconomic Flexibility

NBER Working Paper No. w10744
Number of pages: 34 Posted: 23 Sep 2004 Last Revised: 10 Oct 2004
Ricardo J. Caballero, Eduardo M. R. A. Engel, Kevin Cowan and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics, Adolfo Ibanez University and University of Chile
Downloads 61 (350,815)
Citation 36

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11.

Zombie Lending and Depressed Restructuring in Japan

Downloads 484 ( 56,370)
Citation 74

Zombie Lending and Depressed Restructuring in Japan

MIT Economics Working Paper No. 06-06
Number of pages: 56 Posted: 10 Mar 2006
Ricardo J. Caballero, Takeo Hoshi and Anil K. Kashyap
Massachusetts Institute of Technology (MIT) - Department of Economics, University of California at San Diego and University of Chicago, Booth School of Business
Downloads 383 (74,140)
Citation 74

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Japan, zombies, investment, employment, job flows, restructuring, bankruptcy, creative destruction, productivity, congestion, sclerosis, scrambling, distortions, lost decade, subsidies

Zombie Lending and Depressed Restructuring in Japan

NBER Working Paper No. w12129
Number of pages: 72 Posted: 16 May 2006 Last Revised: 24 Aug 2010
Ricardo J. Caballero, Takeo Hoshi and Anil K. Kashyap
Massachusetts Institute of Technology (MIT) - Department of Economics, University of California at San Diego and University of Chicago, Booth School of Business
Downloads 101 (259,511)
Citation 74

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12.

Bubbles and Capital Flow Volatility: Causes and Risk Management

Downloads 460 ( 60,078)
Citation 31

Bubbles and Capital Flow Volatility: Causes and Risk Management

MIT Department of Economics Working Paper No. 05-20
Number of pages: 28 Posted: 21 Sep 2005
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 409 (68,590)
Citation 31

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Emerging markets, bubbles, excess volatility, crashes, capital flow reversals, public debt market, financial underdevelopment, dynamic inefficiency

Bubbles and Capital Flow Volatility: Causes and Risk Management

NBER Working Paper No. w11618
Number of pages: 28 Posted: 17 Nov 2005 Last Revised: 21 Nov 2005
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 51 (382,742)
Citation 31

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13.

A Dual Liquidity Model for Emerging Markets

Downloads 413 ( 68,410)
Citation 18

A Dual Liquidity Model for Emerging Markets

MIT Department of Economics Working Paper No. 02-03
Number of pages: 10 Posted: 17 Jan 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 375 (75,939)
Citation 18

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Capital flows, external crises, international and domestic liquidity, monetary policy, fiscal policy, underinsurance

A Dual Liquidity Model for Emerging Markets

NBER Working Paper No. w8758
Number of pages: 11 Posted: 02 Feb 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 38 (432,056)
Citation 18

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A Dual Liquidity Model for Emerging Markets

American Economic Review, Vol. 92, Issue 2, May 2002
Posted: 30 Aug 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management

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14.

On the Macroeconomics of Asset Shortages

Downloads 408 ( 69,432)
Citation 39

On the Macroeconomics of Asset Shortages

MIT Department of Economics Working Paper No. 06-30
Number of pages: 17 Posted: 01 Dec 2006
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 329 (88,506)
Citation 39

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Asset shortages, high valuations, speculative bubbles, low interest rates, low inflation, monetary policy, lender of last resort

On the Macroeconomics of Asset Shortages

NBER Working Paper No. w12753
Number of pages: 17 Posted: 13 Dec 2006
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 79 (303,613)
Citation 39

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15.

Macroeconomics Volatility in Latin America: A View and Three Case Studies

MIT Dept. of Economics Working Paper No. 00-10
Number of pages: 44 Posted: 17 Jul 2000
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 405 (70,074)
Citation 14

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Volatility, Financial Constraints, Capital Flows, Terms of Trade, Banking Crises, Illiquidity, Emerging Markets, Macroeconomic Policy, Contingent Policies, Corporate Governance

16.

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

Downloads 384 ( 74,632)
Citation 19

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

Yale Economic Growth Center Discussion Paper No. 865, Cowles Foundation Discussion Paper No. 1430, MIT Department of Economics Working Paper No. 03-25
Number of pages: 33 Posted: 08 Aug 2003 Last Revised: 02 Mar 2011
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 359 (80,029)
Citation 19

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Speed of adjustment, Discrete adjustment, Lumpy adjustment, Aggregation, Calvo model, ARMA process, Partial adjustment, Expected response time, Monetary policy, Investment, Labor demand, Sticky prices, Idiosyncratic shocks, Impulse response function, Time-to-build

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

NBER Working Paper No. w9898
Number of pages: 58 Posted: 17 Aug 2003 Last Revised: 23 Jul 2018
David Berger, Ricardo J. Caballero and Eduardo M. R. A. Engel
Northwestern University, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 25 (496,420)
Citation 19

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17.

A 'Vertical' Analysis of Monetary Policy in Emerging Markets

MIT Department of Economics Working Paper No. 02-16
Number of pages: 30 Posted: 09 May 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 381 (75,251)
Citation 4

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External shocks, domestic and international liquidity, monetary policy, interest parity departures, exchange rate overshooting, fear of floating, commitment, credibility, underinsurance

18.

Coping with Chile's External Vulnerability: A Financial Problem

MIT Dept. of Economics Working Paper No. 01-23
Number of pages: 46 Posted: 10 Jul 2001
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 369 (78,116)
Citation 23

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Financial underdevelopment, external shocks, capital flows, segmented financial markets, hedging, illiquid markets, underinsurance, contingent bonds

19.

Speculative Growth: Hints from the U.S. Economy

Downloads 364 ( 79,395)
Citation 35

Speculative Growth: Hints from the U.S. Economy

MIT Department of Economics Working Paper No. 02-45
Number of pages: 52 Posted: 06 Jun 2004
Ricardo J. Caballero, Emmanuel Farhi and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 333 (87,288)
Citation 35

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Bubbles, investment, cost of capital, growth-saving feedback, multiple equilibria, dynamic efficiency and inefficiency, new economy, spillovers, fiscal and current account surpluses

Speculative Growth: Hints from the Us Economy

NBER Working Paper No. w10518
Number of pages: 52 Posted: 08 Jun 2004 Last Revised: 29 Sep 2010
Ricardo J. Caballero, Emmanuel Farhi and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 31 (463,655)
Citation 35

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20.

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

Downloads 364 ( 79,395)
Citation 9

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

MIT Dept. of Economics Working Paper No. 00-04
Number of pages: 48 Posted: 26 Jul 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 330 (88,201)
Citation 9

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International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

NBER Working Paper No. w7740
Number of pages: 49 Posted: 12 Jun 2000 Last Revised: 18 Oct 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 34 (449,446)
Citation 9

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21.

Fiscal Policy and Financial Depth

Downloads 348 ( 83,623)
Citation 11

Fiscal Policy and Financial Depth

MIT Department of Economics Working Paper No. 04-22
Number of pages: 22 Posted: 20 May 2004
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 296 (99,479)
Citation 11

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sudden stops, financial depth, fiscal deficits, liquidity crises, populism, crowding out

Fiscal Policy and Financial Depth

NBER Working Paper No. w10532
Number of pages: 22 Posted: 11 Jun 2004
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 52 (379,384)
Citation 11

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22.

An Equilibrium Model of Global Imbalances and Low Interest Rates

Downloads 340 ( 85,901)
Citation 162

An Equilibrium Model of Global Imbalances and Low Interest Rates

MIT Department of Economics Working Paper No. 06-02
Number of pages: 55 Posted: 20 Jan 2006
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 283 (104,411)
Citation 162

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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

An Equilibrium Model of "Global Imbalances" and Low Interest Rates

NBER Working Paper No. w11996
Number of pages: 54 Posted: 01 Jun 2006 Last Revised: 29 Jun 2009
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 57 (363,057)
Citation 162

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23.

Institutions, Restructuring, and Macroeconomic Performance

Downloads 339 ( 86,199)
Citation 20

Institutions, Restructuring, and Macroeconomic Performance

MIT Dept. of Economics Working Paper No. 00-02
Number of pages: 40 Posted: 26 Jul 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 294 (100,249)
Citation 20

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Institutions, Restructuring, and Macroeconomic Performance

NBER Working Paper No. w7720
Number of pages: 40 Posted: 12 Jun 2000 Last Revised: 18 Oct 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 45 (404,107)
Citation 20

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24.

Financial System Risk and Flight to Quality

Downloads 336 ( 87,060)
Citation 4

Financial System Risk and Flight to Quality

MIT Department of Economics Working Paper No. 05-31
Number of pages: 39 Posted: 30 Nov 2005
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 297 (99,127)
Citation 4

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Locked collateral, flight to quality, insurance, risk premia, financial intermediaries, lender of last resort, private sector multiplier, collateral shocks, robust control

Financial System Risk and Flight to Quality

NBER Working Paper No. w11834
Number of pages: 39 Posted: 27 Dec 2005
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 39 (427,743)
Citation 4

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25.

International Liquidity Illusion: On the Risks of Sterilization

Downloads 308 ( 95,868)
Citation 6

International Liquidity Illusion: On the Risks of Sterilization

MIT Dept. of Economics Working Paper No. 01-06
Number of pages: 36 Posted: 16 Feb 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 276 (107,293)
Citation 6

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Capital flows, sterilization policy, monetary policy, financial constraints, balance sheets, excessive leverage, short term capital flows, debt maturity, quasi-fiscal deficit, soverign risk, illiquidity

International Liquidity Illusion: On the Risks of Sterilization

NBER Working Paper No. w8141
Number of pages: 36 Posted: 22 Feb 2001 Last Revised: 14 Sep 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 32 (458,644)
Citation 6

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26.

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

Downloads 306 ( 96,486)
Citation 148

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

MIT Dept. of Economics Working Paper No. 00-21
Number of pages: 36 Posted: 05 Oct 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 264 (112,429)
Citation 148

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Capital flows. fires sales, microeconomic and aggregate financial constraints, contractual and corporate governance problems, balance sheets, wasted collateral, domestic and foreign spreads, excessive leverage, collateral under provision, real depreciation, banks.

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

NBER Working Paper No. w7971
Number of pages: 36 Posted: 22 Oct 2000 Last Revised: 25 Jun 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 42 (415,663)
Citation 148

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27.

Financial Integration Without the Volatility

MIT Department of Economics Working Paper No. 08-04
Number of pages: 61 Posted: 04 Dec 2006
Ricardo J. Caballero and Kevin Cowan
Massachusetts Institute of Technology (MIT) - Department of Economics and Central Bank of Chile
Downloads 303 (97,543)
Citation 7

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28.

Flight to Quality and Collective Risk Management

Downloads 297 ( 99,607)
Citation 72

Flight to Quality and Collective Risk Management

MIT Department of Economics Working Paper No. 06-07
Number of pages: 33 Posted: 23 Mar 2006
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 256 (116,118)
Citation 72

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Locked collateral, flight to quality, insurance, safe and risky claims, financial intermediaries, collective bias, lender of last resort, private sector multiplier, collateral shocks, robust control

Flight to Quality and Collective Risk Management

NBER Working Paper No. w12136
Number of pages: 33 Posted: 18 May 2006 Last Revised: 31 Aug 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 41 (419,586)
Citation 72

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29.

Excessive Dollar Debt: Financial Development and Underinsurance

Downloads 288 (103,049)

Excessive Dollar Debt: Financial Development and Underinsurance

MIT Department of Economics Working Paper No. 02-15
Number of pages: 31 Posted: 19 Apr 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 288 (102,514)
Citation 58

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Currency mismatch, balance sheets, international liquidity, contingent credit lines, thin markets, limited participation

Excessive Dollar Debt: Financial Development and Underinsurance

Journal of Finance, Vol. 58, pp. 867-894, April 2003
Posted: 24 Jul 2003
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management

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30.

Aggregate Volatility in Modern Latin America: Causes and Cures

MIT Dept. of Economics Working Paper No. 00-11
Number of pages: 37 Posted: 17 Jul 2000
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 271 (109,943)
Citation 4

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Volatility, Financial Constraints, Capital Flows, Terms of Trade, Banking Crises, Illiquidity, Emerging Markets, Macroecnomic Policy, Contingent Policies, Corporate Governance

31.

On the International Financial Architecture: Insuring Emerging Markets

Downloads 267 (111,654)
Citation 11

On the International Financial Architecture: Insuring Emerging Markets

MIT Department of Economics Working Paper No. 03-13
Number of pages: 11 Posted: 28 Apr 2003
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 238 (125,151)
Citation 11

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Capital Flows, Crises, Hedging, Insurance, Contingent Markets, Specialists, Contractible and Noncontractible Shocks, Collateralized Debt Obligations

On the International Financial Architecture: Insuring Emerging Markets

NBER Working Paper No. w9570
Number of pages: 11 Posted: 14 Mar 2003 Last Revised: 01 Nov 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 29 (473,876)
Citation 11

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32.

Price Stickiness in SS Models: New Interpretations of Old Results

Downloads 264 (112,972)
Citation 21

Price Stickiness in SS Models: New Interpretations of Old Results

Cowles Foundation Discussion Paper No. 1603, MIT Department of Economics Working Paper No. 07-07, Yale University Economic Growth Center Discussion Paper No. 952
Number of pages: 30 Posted: 14 Feb 2007
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 235 (126,746)
Citation 21

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Aggregate price stickiness, adjustment hazard, adjustment frequency, generalized Ss model, extensive margin, Calvo model, strategic complementarities

Price Stickiness in Ss Models: New Interpretations of Old Results

NBER Working Paper No. w12945
Number of pages: 30 Posted: 09 Mar 2007 Last Revised: 10 Jul 2007
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 29 (473,876)
Citation 21

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33.

A Quantitative Model of Sudden Stops and External Liquidity Management

Downloads 250 (119,548)
Citation 25

A Quantitative Model of Sudden Stops and External Liquidity Management

MIT Department of Economics Working Paper No. 05-10
Number of pages: 51 Posted: 12 Apr 2005
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 213 (139,643)
Citation 25

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Capital flows, sudden stops, reserves, international liquidity and liability management, specialists, world capital markets, swaps, insurance, hedging, options, hidden states, Bayesian methods

A Quantitative Model of Sudden Stops and External Liquidity Management

NBER Working Paper No. w11293
Number of pages: 51 Posted: 06 Jun 2005
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 37 (436,370)
Citation 25

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34.

A 'Vertical' Analysis of Crises and Intervention: Fear of Floating and Ex-Ante Problems

Downloads 246 (121,457)
Citation 6

A 'Vertical' Analysis of Crises and Intervention: Fear of Floating and Ex-Ante Problems

MIT Dept. of Economics Working Paper No. 01-25
Number of pages: 33 Posted: 25 Jul 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 216 (137,782)
Citation 6

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External shocks, domestic and international liquidity, monetary policy, interest parity departures, exchange rate systems, overshooting

A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-Ante Problems

NBER Working Paper No. w8428
Number of pages: 33 Posted: 14 Aug 2001 Last Revised: 23 Oct 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 30 (468,677)
Citation 6

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35.

Future Rent-Seeking and Current Public Savings

Downloads 239 (125,080)
Citation 4

Future Rent-Seeking and Current Public Savings

MIT Department of Economics Working Paper No. 08-20
Number of pages: 34 Posted: 10 Oct 2008 Last Revised: 06 Sep 2011
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia Business School - Finance and Economics
Downloads 218 (136,548)
Citation 4

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public debt, politicians, economic and political risk, rent-seeking, precautionary savings, starve-the-beast, fiscal rules

Future Rent-Seeking and Current Public Savings

Journal of International Economics, Vol. 82, pp. 124-136, 2010
Number of pages: 37 Posted: 27 Oct 2011
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia Business School - Finance and Economics
Downloads 11 (584,922)
Citation 4

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Future Rent-Seeking and Current Public Savings

NBER Working Paper No. w14417
Number of pages: 34 Posted: 23 Oct 2008
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia Business School - Finance and Economics
Downloads 10 (591,443)
Citation 4

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36.

Smoothing Sudden Stops

Downloads 235 (127,218)
Citation 17

Smoothing Sudden Stops

MIT Dept. of Economics Working Paper No. 01-26
Number of pages: 26 Posted: 25 Jul 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 213 (139,643)
Citation 17

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External Shocks, domestic and international collateral, underinsurance, credit lines, liquidity requirements, asset market intervention

Smoothing Sudden Stops

NBER Working Paper No. w8427
Number of pages: 26 Posted: 14 Aug 2001 Last Revised: 23 Oct 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 22 (514,665)
Citation 17

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37.

An Equilibrum Model of 'Global Imbalances' and Low Interest Rates

BIS Working Paper No. 222
Number of pages: 88 Posted: 20 Sep 2007
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 223 (133,960)
Citation 82

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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

38.

Microeconomic Flexibility in Latin America

Downloads 222 (134,560)
Citation 8

Microeconomic Flexibility in Latin America

MIT Department of Economics Working Paper No. 04-09; Yale University Economic Growth Center Discussion Paper No. 884
Number of pages: 35 Posted: 04 Mar 2004
Ricardo J. Caballero, Eduardo M. R. A. Engel and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics and University of Chile
Downloads 198 (149,694)
Citation 8

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Microeconomic rigidities, creative-destruction, job flows, restructuring and reallocation, productivity growth

Microeconomic Flexibility in Latin America

NBER Working Paper No. w10398
Number of pages: 35 Posted: 09 Apr 2004 Last Revised: 03 Jul 2010
Ricardo J. Caballero, Eduardo M. R. A. Engel and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics and University of Chile
Downloads 24 (502,424)
Citation 8

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39.

Fire Sales in a Model of Complexity

Downloads 213 (139,947)
Citation 19

Fire Sales in a Model of Complexity

MIT Department of Economics Working Paper No. 09-28
Number of pages: 43 Posted: 31 Oct 2009 Last Revised: 06 Apr 2011
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 191 (154,919)
Citation 19

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Fire sales, uncertainty, complexity, financial network, cascades, market freezes, crises, financial panic, credit crunch, externality

Fire Sales in a Model of Complexity

NBER Working Paper No. w15479
Number of pages: 35 Posted: 09 Nov 2009 Last Revised: 12 Nov 2009
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 22 (514,665)
Citation 19

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40.

Emerging Market Crises: An Asset Markets Perspective

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Citation 46

Emerging Market Crises: An Asset Markets Perspective

MIT Department of Economics Working Paper No. 98-18REV
Number of pages: 51 Posted: 18 Dec 1998
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 183 (161,104)
Citation 46

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Emerging Market Crises: an Asset Markets Perspective

NBER Working Paper No. w6843
Number of pages: 46 Posted: 18 Aug 2000 Last Revised: 11 Oct 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 30 (468,677)
Citation 46

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41.

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

Downloads 212 (140,585)
Citation 12

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

MIT Dept. of Economics Working Paper No. 00-14
Number of pages: 34 Posted: 26 Jul 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 184 (160,306)
Citation 12

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Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

NBER Working Paper No. w7792
Number of pages: 34 Posted: 19 Jul 2000 Last Revised: 02 Apr 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 28 (479,217)
Citation 12

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42.

Contingent Reserves Management: An Applied Framework

Downloads 205 (145,099)
Citation 20

Contingent Reserves Management: An Applied Framework

MIT Department of Economics Working Paper No. 04-32
Number of pages: 26 Posted: 24 Sep 2004
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 161 (180,450)
Citation 20

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Sudden stops, reserves, portfolio, VIX, hedging, options, futures.

Contingent Reserves Management: An Applied Framework

NBER Working Paper No. w10786
Number of pages: 26 Posted: 05 Oct 2004 Last Revised: 03 Jul 2010
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 44 (407,890)
Citation 20

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43.

The Safety Trap

Downloads 202 (147,146)
Citation 1

The Safety Trap

MIT Department of Economics Working Paper No. 14-08
Number of pages: 67 Posted: 25 Feb 2014 Last Revised: 13 Dec 2016
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 175 (167,730)
Citation 1

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The Safety Trap

NBER Working Paper No. w19927
Number of pages: 69 Posted: 24 Feb 2014
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 27 (484,724)
Citation 1

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44.

Exchange Rate Volatility and the Credit Channel in the Emerging Markets: A Vertical Perspective

MIT Department of Economics Working Paper No. 04-24
Number of pages: 34 Posted: 07 Jun 2004
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 191 (154,996)
Citation 12

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External shocks, segmented capital markets, credit squeeze, monetary policy, interest parity departures, exchange rate overshooting, fear of floating, underinsurance, capital controls

45.

Trade and Capital Flows: A Financial Frictions Perspective

Downloads 188 (157,228)
Citation 19

Trade and Capital Flows: A Financial Frictions Perspective

MIT Department of Economics Working Paper No. 08-06
Number of pages: 45 Posted: 20 Mar 2008
Pol Antras and Ricardo J. Caballero
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 155 (186,381)
Citation 19

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Trade, capital mobility, capital flows, globalization, financial frictions, complementarities, factor payments, saving rate, global imbalances, protectionism.

Trade and Capital Flows: A Financial Frictions Perspective

NBER Working Paper No. w13241
Number of pages: 42 Posted: 27 Sep 2007 Last Revised: 07 Sep 2010
Pol Antras and Ricardo J. Caballero
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 33 (453,992)
Citation 19

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46.

Fear of Sudden Stops: Lessons from Australia and Chile

Downloads 184 (160,313)
Citation 22

Fear of Sudden Stops: Lessons from Australia and Chile

MIT Department of Economics Working Paper No. 04-23
Number of pages: 56 Posted: 20 May 2004
Ricardo J. Caballero, Kevin Cowan and Jonathan Kearns
Massachusetts Institute of Technology (MIT) - Department of Economics, Adolfo Ibanez University and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 158 (183,461)
Citation 22

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Sudden stops, Australia, Chile

Fear of Sudden Stops: Lessons from Australia and Chile

NBER Working Paper No. w10519
Number of pages: 55 Posted: 08 Jun 2004
Ricardo J. Caballero, Kevin Cowan and Jonathan Kearns
Massachusetts Institute of Technology (MIT) - Department of Economics, Adolfo Ibanez University and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 26 (490,472)
Citation 22

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Fear of Sudden Stops: Lessons from Australia and Chile

IDB Working Paper No. 420
Posted: 25 Apr 2011
Ricardo J. Caballero, Kevin Cowan and Jonathan Kearns
Massachusetts Institute of Technology (MIT) - Department of Economics, Adolfo Ibanez University and Bank for International Settlements (BIS) - Monetary and Economic Department

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47.

Lumpy Investment in Dynamic General Equilibrium

MIT Department of Economics Working Paper No. 06-20, Cowles Foundation Discussion Paper No. 1566
Number of pages: 53 Posted: 20 Jun 2006
Ruediger Bachmann, Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University, Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 183 (161,095)
Citation 17

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(S, s) model, RBC model, time-varying impulse response function, aggregate shocks, sectoral shocks, idiosyncratic shocks, adjustment costs, history dependence, moment matching

48.

A Global Equilibrium Model of Sudden Stops and External Liquidity Management

MIT Department of Economics Working Paper No. 08-05
Number of pages: 54 Posted: 20 Mar 2008
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 179 (164,322)
Citation 22

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Capital flows, sudden stops, reserves, international liquidity management, world, capital markets, swaps, insurance, hedging, options, hidden states, Bayesian methods

49.

Inflation Targets and Sudden Stops

MIT Department of Economics Working Paper No. 03-10
Number of pages: 28 Posted: 13 Apr 2003
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 177 (165,960)
Citation 17

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External Shocks, Domestic and International Liquidity, Inflation Targeting, Fear of Floating, Commitment, Underinsurance

50.

Sudden Financial Arrest

MIT Department of Economics Working Paper No. 09-29
Number of pages: 48 Posted: 15 Nov 2009
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 174 (168,507)
Citation 8

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Financial crisis, panic, defibrillation, complexity, Knightian uncertainty, moral hazard, financial network, capital requirements, contingent capital, contingent insurance, IMF

51.

Rents, Technical Change, and Risk Premia

MIT Department of Economics Working Paper No. 17-05
Number of pages: 13 Posted: 24 Mar 2017
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 164 (177,439)

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52.

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

Downloads 156 (185,039)

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

MIT Department of Economics Working Paper No. 17-07
Number of pages: 89 Posted: 25 Jul 2017 Last Revised: 23 Sep 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 113 (239,591)

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Risk premium shocks, asset prices, aggregate demand, interest rate rigidity, booms and recessions, heterogeneous beliefs, speculation, monetary and macroprudential policy

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

BIS Working Paper No. 733
Number of pages: 64 Posted: 16 Jul 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 31 (463,655)

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Risk premium shocks, asset prices, aggregate demand, interest rate rigidity booms and recessions, heterogeneous beliefs, speculation, monetary and macroprudential policy

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

NBER Working Paper No. w23614
Number of pages: 90 Posted: 25 Jul 2017
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 12 (578,367)

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53.

Hedging Sudden Stops & Precautionary Contractions

MIT Department of Economics Working Paper No. 03-19
Number of pages: 59 Posted: 09 Jun 2003
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 151 (190,283)
Citation 9

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Capital flows, sudden stops, financial constraints, contractions, hedging, insurance, signals

54.

Global Imbalances and Financial Fragility

NBER Working Paper No. w14688
Number of pages: 13 Posted: 31 Jan 2009 Last Revised: 21 Aug 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 145 (196,633)
Citation 57

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55.

Aggregate Investment

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Citation 136

Aggregate Investment

NBER Working Paper No. w6264
Number of pages: 70 Posted: 09 Jul 2000 Last Revised: 07 Oct 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 144 (198,278)
Citation 136

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Aggregate Investment

MIT Department of Economics Working Paper No. 97-20
Posted: 20 Nov 1998
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics

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56.

Collective Risk Management in a Flight to Quality Episode

Downloads 132 (212,092)
Citation 83

Collective Risk Management in a Flight to Quality Episode

MIT Department of Economics Working Paper No. 07-02
Number of pages: 37 Posted: 01 Feb 2007
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 85 (290,393)
Citation 83

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Locked collateral, liquidity, flight to quality, Knightian uncertainty, collateral shocks, collective bias, lender of last resort, private sector multiplier

Collective Risk Management in a Flight to Quality Episode

NBER Working Paper No. w12896
Number of pages: 37 Posted: 17 Feb 2007 Last Revised: 28 Sep 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 47 (396,890)
Citation 83

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57.

Three Strikes and You're Out: Reply to Cooper and Willis

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Citation 2

Three Strikes and You're Out: Reply to Cooper and Willis

Yale Economic Growth Center Discussion Paper No. 883; Cowles Foundation Discussion Paper No. 1456; MIT Dept. of Economics Working Paper No. 04-10
Number of pages: 14 Posted: 04 Mar 2004
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 113 (239,591)
Citation 2

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Adjustment hazard, aggregate nonlinearities, lumpy adjustment, observed and unobserved gaps, quadratic adjustment

Three Strikes and You're Out: Reply to Cooper and Willis

NBER Working Paper No. w10368
Number of pages: 14 Posted: 25 Mar 2004 Last Revised: 03 Sep 2009
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 18 (539,767)
Citation 2

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58.

Financial Crash, Commodity Prices and Global Imbalances

NBER Working Paper No. w14521
Number of pages: 61 Posted: 08 Dec 2008 Last Revised: 06 Sep 2010
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 115 (235,315)
Citation 55

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59.

Risk-Centric Macroeconomics and Safe Asset Shortages in the Global Economy: An Illustration of Mechanisms and Policies

Number of pages: 30 Posted: 13 Oct 2018
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 112 (239,833)

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Risk-Market Imbalances, Safe Assets, Financial Underdevelopment, Sudden Stops, Crises, Global Imbalances, Low Interest Rates, Reach-for-Yield, Recessions, Speculation, Panics, Knightian Uncertainty, Flight-to-Safety, Put-Policies, Safety Traps, Global Spillovers, Aggregate Demand, Macroprudential

60.

Irreversibility and Aggregate Investment

NBER Working Paper No. w3865
Number of pages: 33 Posted: 17 Oct 2007 Last Revised: 26 Jul 2010
Giuseppe Bertola and Ricardo J. Caballero
Centre for Economic Policy Research (CEPR) and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 107 (247,720)
Citation 56

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61.

Persistent Appreciations and Overshooting: A Normative Analysis

Downloads 100 (259,541)
Citation 10

Persistent Appreciations and Overshooting: A Normative Analysis

MIT Department of Economics Working Paper No. 07-13
Number of pages: 50 Posted: 24 Apr 2007
Ricardo J. Caballero and Guido Lorenzoni
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University
Downloads 78 (306,002)
Citation 10

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Appreciations, overshooting, financial frictions, irreversible investment, pecuniary externality, real wages, optimal policy, exports

Persistent Appreciations and Overshooting: A Normative Analysis

NBER Working Paper No. w13077
Number of pages: 50 Posted: 27 Jun 2007 Last Revised: 26 Sep 2010
Ricardo J. Caballero and Guido Lorenzoni
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University
Downloads 22 (514,665)
Citation 10

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62.

A Model of Fickle Capital Flows and Retrenchment

Downloads 99 (261,247)

A Model of Fickle Capital Flows and Retrenchment

MIT Department of Economics Working Paper No. 16-10
Number of pages: 78 Posted: 12 Nov 2016 Last Revised: 21 Dec 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 91 (278,001)

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gross capital flows, global liquidity, fickleness, retrenchment, asset fire sales, capital controls, policy coordination, scarcity of safe assets, reach-for-safety, reach-for-yield

A Model of Fickle Capital Flows and Retrenchment

NBER Working Paper No. w22751
Number of pages: 79 Posted: 24 Oct 2016
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 8 (604,611)

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63.

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

Downloads 89 (279,710)
Citation 19

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

Cowles Foundation Discussion Paper No. 1566R
Number of pages: 49 Posted: 16 Jun 2008 Last Revised: 02 Mar 2011
Ruediger Bachmann, Ricardo J. Caballero and Eduardo M. R. A. Engel
Yale University, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 58 (359,867)
Citation 15

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Ss model, RBC model, Time-varying impulse response function, History dependence, Conditional heteroscedasticity, Aggregate shocks, Sectoral shocks, Idiosyncratic shocks, Adjustment costs

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

NBER Working Paper No. w12336
Number of pages: 51 Posted: 14 Jul 2006 Last Revised: 17 Sep 2010
Ruediger Bachmann, Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University, Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 31 (463,655)
Citation 19

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64.

The Cost of Recession Revisited: A Reverse-Liquidationist View

MIT Department of Economics Working Paper No. 99-22
Number of pages: 38 Posted: 23 Jan 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 88 (281,675)
Citation 21

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65.

Macroeconomic Volatility in Latin America: A View and Three Case Studies

Downloads 86 (285,723)
Citation 20

Macroeconomic Volatility in Latin America: A View and Three Case Studies

NBER Working Paper No. w7782
Number of pages: 45 Posted: 18 Jul 2000 Last Revised: 02 Apr 2001
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 70 (325,921)
Citation 20

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Macroeconomic Volatility in Latin America: A View and Three Case Studies

IDB Working Paper No. 357
Number of pages: 58 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 16 (552,489)
Citation 17

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66.

Emerging Markets Crisis An Asset Markets Perspective

IMF Working Paper No. 99/129
Number of pages: 53 Posted: 15 Feb 2006
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 77 (305,321)
Citation 33

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Capital flows fire sales financial constraints contractual and corporate governance problems balance sheets wasted collateral domestic and foreign spreads excessive leverage banks

67.

Uncertainty, Investment, and Industry Evolution

NBER Working Paper No. w4160
Number of pages: 31 Posted: 16 Nov 2001 Last Revised: 16 Jan 2002
Ricardo J. Caballero and Robert S. Pindyck
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 70 (322,217)
Citation 48

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68.

How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth

NBER Working Paper No. w4370
Number of pages: 75 Posted: 26 May 2004 Last Revised: 29 Jun 2012
Ricardo J. Caballero and Adam B. Jaffe
Massachusetts Institute of Technology (MIT) - Department of Economics and Motu Economic and Public Policy Research
Downloads 69 (324,690)
Citation 81

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69.

The Cleansing Effect of Recessions

NBER Working Paper No. w3922
Number of pages: 31 Posted: 31 Jul 2007 Last Revised: 22 Feb 2015
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 59 (351,727)
Citation 116

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70.

A Model of the Safe Asset Mechanism (Sam): Safety Traps and Economic Policy

NBER Working Paper No. w18737
Number of pages: 53 Posted: 26 Jan 2013
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 56 (360,829)
Citation 1

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71.

Reach for Yield and Fickle Capital Flows

Downloads 47 (389,870)

Reach for Yield and Fickle Capital Flows

MIT Department of Economics Working Paper No. 18-03
Number of pages: 14 Posted: 09 Mar 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 45 (404,107)

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Reach for Yield and Fickle Capital Flows

NBER Working Paper No. w24400
Number of pages: 13 Posted: 12 Mar 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 2 (650,989)
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72.

Speculative Growth

NBER Working Paper No. w9381
Number of pages: 44 Posted: 14 Dec 2002 Last Revised: 31 Oct 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 47 (389,870)
Citation 15

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73.

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

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Jobless Growth: Appropriability, Factor Substitution, and Unemployment

NBER Working Paper No. w6221
Number of pages: 40 Posted: 25 May 2006 Last Revised: 06 Oct 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 47 (396,890)
Citation 52

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Jobless Growth: Appropriability, Factor Substitution, and Unemployment

MIT Department of Economics Working Paper No. 97-18
Posted: 20 Nov 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)

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74.

Aggregate Employment Dynamics: Building from Microeconomic Evidence

NBER Working Paper No. w5042
Number of pages: 51 Posted: 11 Jul 2000
Ricardo J. Caballero, Eduardo M. R. A. Engel and John Haltiwanger
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics and University of Maryland - Department of Economics
Downloads 46 (393,200)
Citation 58

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75.

Global Imbalances and Currency Wars at the ZLB

Downloads 44 (400,230)
Citation 2

Global Imbalances and Currency Wars at the ZLB

NBER Working Paper No. w21670
Number of pages: 73 Posted: 26 Oct 2015 Last Revised: 09 Nov 2015
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 43 (411,741)
Citation 2

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Global Imbalances and Currency Wars at the ZLB

CEPR Discussion Paper No. DP10905
Number of pages: 68 Posted: 28 Oct 2015
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 1 (664,695)
Citation 2
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capital flows, current account, exhorbitant privilege, forward guidance, inflation rate, interest rates, liquidity and safety traps, recessions, reserve currency, safe assets, secular stagnation, Taylor rule, uncovered interest parity

76.

Fixed Costs: The Demise of Marginal Q

NBER Working Paper No. w5508
Number of pages: 21 Posted: 07 Aug 2012
Ricardo J. Caballero and John V. Leahy
Massachusetts Institute of Technology (MIT) - Department of Economics and New York University (NYU) - Department of Economics
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Citation 31

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77.

Dynamic (S,S) Economies

NBER Working Paper No. w3734
Number of pages: 40 Posted: 27 Apr 2000 Last Revised: 16 Sep 2010
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 43 (403,858)
Citation 20

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78.

Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment

NBER Working Paper No. w4472
Number of pages: 28 Posted: 29 Dec 2006 Last Revised: 22 Sep 2010
Giuseppe Bertola and Ricardo J. Caballero
Centre for Economic Policy Research (CEPR) and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 40 (415,008)
Citation 12

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79.

The Macroeconomics of Specificity

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Citation 62

The Macroeconomics of Specificity

NBER Working Paper No. w5757
Number of pages: 51 Posted: 09 Dec 1996 Last Revised: 04 Oct 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 40 (423,661)
Citation 62

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The Macroeconomics of Specificity

Journal of Political Economy, Vol. 106, No. 4, August 1998
Posted: 08 Oct 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)

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80.

Microeconomic Adjustment Hazards and Aggregate Dynamics

NBER Working Paper No. w4090
Number of pages: 31 Posted: 03 Jul 2007 Last Revised: 12 Sep 2010
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 39 (418,796)
Citation 36

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81.

Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective

NBER Working Paper No. w10517
Number of pages: 34 Posted: 08 Jun 2004 Last Revised: 28 Sep 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 38 (422,826)
Citation 12

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82.

The "Other" Imbalance and the Financial Crisis

NBER Working Paper No. w15636
Number of pages: 43 Posted: 11 Jan 2010 Last Revised: 23 Sep 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 35 (434,952)
Citation 13

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83.

A Fallacy of Composition

NBER Working Paper No. w3735
Number of pages: 26 Posted: 09 Mar 2004 Last Revised: 17 Sep 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 35 (434,952)
Citation 10

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84.

Hedging Sudden Stops and Precautionary Contractions

NBER Working Paper No. w9778
Number of pages: 59 Posted: 20 Jul 2006 Last Revised: 04 Nov 2010
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 33 (443,269)
Citation 26

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85.

The "Fundamental Transformation" in Macroeconomics

NBER Working Paper No. w5471
Number of pages: 14 Posted: 03 Jun 1998 Last Revised: 07 May 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 32 (447,556)
Citation 9

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86.

Structural Volatility in Argentina: A Policy Report

IDB Working Paper No. 353
Number of pages: 50 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 30 (456,728)
Citation 4

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87.

Inflation Targeting and Sudden Stops

NBER Working Paper No. w9599
Number of pages: 26 Posted: 05 Apr 2003 Last Revised: 01 Nov 2010
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
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Citation 20

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88.

The Cost of Recessions Revisited: a Reverse-Liquidationist View

NBER Working Paper No. w7355
Number of pages: 40 Posted: 25 Feb 2000 Last Revised: 14 Oct 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 30 (456,728)
Citation 27

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89.

Durable Goods: An Explanation for Their Slow Adjustment

NBER Working Paper No. w3748
Number of pages: 41 Posted: 06 Jan 2007
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 29 (461,493)
Citation 20

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90.

The Role of External Economies in U.S. Manufacturing

NBER Working Paper No. w3033
Number of pages: 32 Posted: 14 Apr 2007
Ricardo J. Caballero and Richard K. Lyons
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Berkeley
Downloads 28 (466,403)
Citation 11

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91.

Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy

NBER Working Paper No. w3729
Number of pages: 39 Posted: 15 Jan 2007 Last Revised: 12 Sep 2010
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 28 (466,403)
Citation 19

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92.

Inflating the Beast: Political Incentives Under Uncertainty

NBER Working Paper No. w13779
Number of pages: 36 Posted: 08 Feb 2008 Last Revised: 27 Aug 2010
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia Business School - Finance and Economics
Downloads 27 (471,433)
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93.

Short and Long Run Externalities

NBER Working Paper No. w3810
Number of pages: 27 Posted: 24 Jul 2007
Eric J. Bartelsman, Ricardo J. Caballero and Richard K. Lyons
Vrije Universiteit Amsterdam, Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Berkeley
Downloads 27 (471,433)
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94.

An Equilibrium Model of 'Global Imbalances' and Low Interest Rates

CEPR Discussion Paper No. 5573
Number of pages: 57 Posted: 27 Jun 2006
Pierre-Olivier Gourinchas, Ricardo J. Caballero and Emmanuel Farhi
University of California, Berkeley - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
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Citation 160
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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

95.

On the Timing and Efficiency of Creative Destruction

NBER Working Paper No. w4768
Number of pages: 61 Posted: 26 Jul 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 24 (487,477)
Citation 71

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96.

Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares

NBER Working Paper No. w23127
Number of pages: 13 Posted: 07 Feb 2017
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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97.

Structural Volatility in Chile: A Policy Report

IDB Working Paper No. 352
Number of pages: 52 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 4

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98.

Near-Rationality, Heterogeneity and Aggregate Consumption

NBER Working Paper No. w4035
Number of pages: 28 Posted: 23 Sep 2000 Last Revised: 16 Jul 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 10

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99.

Improper Churn: Social Costs and Macroeconomic Consequences

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Citation 7

Improper Churn: Social Costs and Macroeconomic Consequences

NBER Working Paper No. w6717
Number of pages: 50 Posted: 07 Sep 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 22 (514,665)
Citation 7

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Improper Churn: Social Costs and Macroeconomic Consequences

MIT Department of Economics Working Paper No. 98-11
Posted: 23 Dec 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)

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100.

Price Rigidities, Asymmetries, and Output Fluctuations

NBER Working Paper No. w4091
Number of pages: 35 Posted: 10 Jul 2007 Last Revised: 12 Sep 2010
Ricardo J. Caballero and Eduardo M. R. A. Engel
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 20 (509,715)
Citation 5

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101.

On the Ills of Adjustment

NBER Working Paper No. w5198
Number of pages: 38 Posted: 20 Jul 2000 Last Revised: 23 Sep 2010
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 20 (509,715)
Citation 16

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102.

Microeconomic Rigidities and Aggregate Price Dynamics

NBER Working Paper No. w4162
Number of pages: 26 Posted: 27 Jun 2007
Ricardo J. Caballero and Eduardo M. R. A. Engel
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 18 (521,149)
Citation 18

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103.

On the Global Impact of Risk-off Shocks and Policy-put Frameworks

BIS Working Paper No. 772
Number of pages: 57 Posted: 11 Mar 2019
Ricardo J. Caballero and Güneş Kamber
Massachusetts Institute of Technology (MIT) - Department of Economics and Bank for International Settlements (BIS) - Monetary and Economic Department
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Risk-off, conventional and unconventional monetary policy, policy-puts, spillovers, macroeconomic fundamentals, developed and emerging markets, Asia-Pacific region

104.

Nonlinear Aggregate Investment Dynamics: Theory and Evidence

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Nonlinear Aggregate Investment Dynamics: Theory and Evidence

NBER Working Paper No. w6420
Number of pages: 63 Posted: 14 Aug 2012
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 17 (546,143)
Citation 6

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Nonlinear Aggregate Investment Dynamics: Theory and Evidence

MIT Department of Economics Working Paper No. 98-1
Posted: 26 Jul 2000
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics

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105.

Safe Asset Scarcity and Aggregate Demand

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Safe Asset Scarcity and Aggregate Demand

NBER Working Paper No. w22044
Number of pages: 12 Posted: 01 Mar 2016
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 16 (552,489)

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Safe Asset Scarcity and Aggregate Demand

CEPR Discussion Paper No. DP11170
Number of pages: 13 Posted: 18 Apr 2016
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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106.

Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,S) Approach

NBER Working Paper No. w4887
Number of pages: 46 Posted: 16 May 2011
Ricardo J. Caballero and Eduardo M. R. A. Engel
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 16 (532,517)
Citation 95

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107.

Structural Volatility in Mexico: A Policy Report

IDB Working Paper No. 351
Number of pages: 54 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
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Citation 4

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108.

Prudential Monetary Policy

Number of pages: 47
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Speculation, leverage, aggregate demand, business cycle, effective lower bound, monetary policy, regulation, macroprudential policies, leaning against the wind