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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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    • Tel: 617-253-0489
    • Fax: 617-253-1330
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SCHOLARLY PAPERS

104

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29,519

CITATIONS
Rank 81

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Top 81

in Total Papers Citations

2,933

Scholarly Papers (104)

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1.

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

Downloads 5,862 ( 857)
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 5,785 (870)
Citation 19

Abstract:

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
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 77 (267,455)
Citation 19

Abstract:

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 3,124 (2,034)

Abstract:

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 1,181 (12,615)
Citation 14

Abstract:

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 974 ( 18,083)
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 890 (20,308)
Citation 13

Abstract:

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
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 84 (253,471)
Citation 13

Abstract:

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 797 (20,061)
Citation 8

Abstract:

subprime crisis, liquidity, bailout, intermediation, credit spreads

6.

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

Downloads 756 ( 26,211)
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 710 (28,192)
Citation 2

Abstract:

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
Ricardo J. Caballero and Joseph B. Doyle
Massachusetts Institute of Technology (MIT) - Department of Economics and Cornerstone Research
Downloads 46 (348,903)
Citation 2

Abstract:

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 697 (26,265)
Citation 15

Abstract:

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 661 (30,450)
Citation 14

Abstract:

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 478 ( 48,162)
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 422 (55,625)
Citation 24

Abstract:

Creative Destruction and Development: Institutions, Crises, and Restructuring

NBER Working Paper No. w7849
Number of pages: 42 Posted: 20 Aug 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 56 (318,274)
Citation 24

Abstract:

10.

Effective Labor Regulation and Microeconomic Flexibility

Downloads 477 ( 48,283)
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, Inter-American Development Bank (IDB) and University of Chile
Downloads 419 (56,096)
Citation 36

Abstract:

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
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, Inter-American Development Bank (IDB) and University of Chile
Downloads 58 (312,768)
Citation 36

Abstract:

11.

Bubbles and Capital Flow Volatility: Causes and Risk Management

Downloads 445 ( 52,677)
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 398 (59,758)
Citation 31

Abstract:

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 47 (345,718)
Citation 31

Abstract:

12.

Zombie Lending and Depressed Restructuring in Japan

Downloads 434 ( 54,299)
Citation 76

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 352 (69,177)
Citation 76

Abstract:

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 82 (257,384)
Citation 76

Abstract:

13.

A Dual Liquidity Model for Emerging Markets

Downloads 408 ( 58,548)
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 371 (64,939)
Citation 18

Abstract:

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 37 (381,032)
Citation 18

Abstract:

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

Abstract:

14.

On the Macroeconomics of Asset Shortages

Downloads 397 ( 60,565)
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 324 (76,199)
Citation 39

Abstract:

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 73 (276,014)
Citation 39

Abstract:

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 390 (60,203)
Citation 14

Abstract:

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 378 ( 64,136)
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 354 (68,675)
Citation 19

Abstract:

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: 04 Nov 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 24 (441,388)
Citation 19

Abstract:

17.

Speculative Growth: Hints from the U.S. Economy

Downloads 363 ( 67,277)
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 332 (74,150)
Citation 35

Abstract:

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
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 (405,950)
Citation 35

Abstract:

18.

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

Downloads 358 ( 68,380)
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 324 (76,199)
Citation 9

Abstract:

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 (393,116)
Citation 9

Abstract:

19.

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 351 (67,713)
Citation 4

Abstract:

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

20.

Institutions, Restructuring, And Macroeconomic Performance

Downloads 338 ( 73,107)
Citation 21

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 293 (85,416)
Citation 21

Abstract:

Institutions, Restructuring, and Macroeconomic Performance

NBER Working Paper No. w7720
Number of pages: 40 Posted: 12 Jun 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 45 (352,260)
Citation 21

Abstract:

21.

Fiscal Policy and Financial Depth

Downloads 334 ( 74,145)
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 285 (88,182)
Citation 11

Abstract:

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 49 (339,519)
Citation 11

Abstract:

22.

An Equilibrium Model of Global Imbalances and Low Interest Rates

Downloads 333 ( 74,403)
Citation 163

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 276 (91,338)
Citation 163

Abstract:

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
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 (315,472)
Citation 163

Abstract:

23.

Financial System Risk and Flight to Quality

Downloads 329 ( 75,413)
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 294 (85,080)
Citation 4

Abstract:

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 35 (389,008)
Citation 4

Abstract:

24.

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 308 (71,902)
Citation 23

Abstract:

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

25.

International Liquidity Illusion: On the Risks of Sterilization

Downloads 304 ( 82,344)
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 274 (92,087)
Citation 6

Abstract:

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 30 (410,456)
Citation 6

Abstract:

26.

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

Downloads 301 ( 83,315)
Citation 149

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 259 (97,716)
Citation 149

Abstract:

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 42 (362,496)
Citation 149

Abstract:

27.

Flight to Quality and Collective Risk Management

Downloads 294 ( 85,567)
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 254 (99,774)
Citation 72

Abstract:

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 40 (369,676)
Citation 72

Abstract:

28.

Excessive Dollar Debt: Financial Development and Underinsurance

Downloads 282 ( 89,664)
Citation 60

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 282 (89,169)
Citation 60

Abstract:

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

Abstract:

29.

On the International Financial Architecture: Insuring Emerging Markets

Downloads 263 ( 96,655)
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 236 (107,813)
Citation 11

Abstract:

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 27 (425,050)
Citation 11

Abstract:

30.

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 262 (85,243)
Citation 8

Abstract:

31.

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 260 (94,769)
Citation 4

Abstract:

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

32.

Price Stickiness in SS Models: New Interpretations of Old Results

Downloads 259 ( 98,188)
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 231 (110,165)
Citation 21

Abstract:

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
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 (420,056)
Citation 21

Abstract:

33.

A Quantitative Model of Sudden Stops and External Liquidity Management

Downloads 247 (103,700)
Citation 26

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 211 (120,629)
Citation 26

Abstract:

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 36 (389,008)
Citation 26

Abstract:

34.

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

Downloads 242 (105,459)
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 213 (119,512)
Citation 6

Abstract:

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 29 (415,262)
Citation 6

Abstract:

35.

Future Rent-Seeking and Current Public Savings

Downloads 235 (108,786)
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 215 (118,384)
Citation 4

Abstract:

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

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 (522,304)
Citation 4

Abstract:

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 10 (522,304)
Citation 4

Abstract:

36.

Smoothing Sudden Stops

Downloads 231 (110,652)
Citation 19

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 211 (120,629)
Citation 19

Abstract:

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 20 (464,384)
Citation 19

Abstract:

37.

Microeconomic Flexibility in Latin America

Downloads 221 (115,563)
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 197 (128,888)
Citation 8

Abstract:

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
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 (441,388)
Citation 8

Abstract:

38.

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 216 (116,058)
Citation 81

Abstract:

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

39.

Emerging Market Crises: An Asset Markets Perspective

Downloads 207 (123,225)
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 179 (140,968)
Citation 46

Abstract:

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 28 (420,056)
Citation 46

Abstract:

40.

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

Downloads 204 (124,959)
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 178 (141,698)
Citation 12

Abstract:

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

NBER Working Paper No. w7792
Number of pages: 34 Posted: 19 Jul 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 26 (430,339)
Citation 12

Abstract:

41.

Fire Sales in a Model of Complexity

Downloads 202 (126,125)
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 181 (139,641)
Citation 19

Abstract:

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
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 21 (458,563)
Citation 19

Abstract:

42.

Contingent Reserves Management: An Applied Framework

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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 155 (160,197)
Citation 20

Abstract:

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
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 43 (359,082)
Citation 20

Abstract:

43.

Sudden Financial Arrest

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Citation 8

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 165 (151,771)
Citation 8

Abstract:

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

Sudden Financial Arrest

IMF Economic Review, Vol. 58, Issue 1, pp. 6-36, 2010
Number of pages: 31 Posted: 18 Oct 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 22 (452,864)
Citation 8
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Abstract:

44.

Trade and Capital Flows: A Financial Frictions Perspective

Downloads 182 (139,043)
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 149 (165,929)
Citation 19

Abstract:

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 (397,259)
Citation 19

Abstract:

45.

Fear of Sudden Stops: Lessons from Australia and Chile

Downloads 180 (140,397)
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, Inter-American Development Bank (IDB) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 157 (158,473)
Citation 22

Abstract:

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, Inter-American Development Bank (IDB) and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 23 (447,110)
Citation 22

Abstract:

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, Inter-American Development Bank (IDB) and Bank for International Settlements (BIS) - Monetary and Economic Department

Abstract:

46.

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 179 (137,583)
Citation 12

Abstract:

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

47.

The Safety Trap

Downloads 176 (143,206)
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 158 (157,633)
Citation 1

Abstract:

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 18 (476,124)
Citation 1

Abstract:

48.

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 164 (146,993)
Citation 17

Abstract:

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

49.

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 144 (150,077)
Citation 17

Abstract:

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

50.

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 138 (168,402)
Citation 9

Abstract:

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

51.

Aggregate Investment

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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 138 (176,760)
Citation 136

Abstract:

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

Abstract:

52.

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 136 (150,077)
Citation 23

Abstract:

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

53.

Global Imbalances and Financial Fragility

NBER Working Paper No. w14688
Number of pages: 13 Posted: 31 Jan 2009
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 133 (174,217)
Citation 59

Abstract:

54.

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 111 (209,389)
Citation 2

Abstract:

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
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 16 (487,635)
Citation 2

Abstract:

55.

Collective Risk Management in a Flight to Quality Episode

Downloads 125 (190,645)
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 80 (261,360)
Citation 83

Abstract:

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 45 (352,260)
Citation 83

Abstract:

56.

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 104 (211,204)
Citation 57

Abstract:

57.

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 104 (218,403)
Citation 55

Abstract:

58.

Persistent Appreciations and Overshooting: A Normative Analysis

Downloads 92 (237,213)
Citation 11

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 73 (276,014)
Citation 11

Abstract:

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
Ricardo J. Caballero and Guido Lorenzoni
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University
Downloads 19 (470,323)
Citation 11

Abstract:

Persistent Appreciations and Overshooting: A Normative Analysis

IMF Economic Review, Vol. 62, Issue 1, pp. 1-47, 2014
Number of pages: 47 Posted: 20 May 2014
Ricardo J. Caballero and Guido Lorenzoni
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University
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Citation 10
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Abstract:

59.

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

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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 53 (327,051)
Citation 15

Abstract:

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 27 (425,050)
Citation 19

Abstract:

60.

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

Downloads 77 (264,960)
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
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 66 (292,337)
Citation 20

Abstract:

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 11 (516,811)
Citation 17

Abstract:

61.

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 77 (255,143)
Citation 21

Abstract:

62.

A Model of Fickle Capital Flows and Retrenchment

Downloads 71 (277,543)

A Model of Fickle Capital Flows and Retrenchment

MIT Department of Economics Working Paper No. 16-10
Number of pages: 77 Posted: 12 Nov 2016 Last Revised: 22 Mar 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 63 (299,587)

Abstract:

Capital flows, gross flows, global liquidity, scarcity of safe assets, reach for safety, reach for yield, fire sales, depreciations, financial stability, capitol controls, capital flow taxation, macroprudential regulation, financial development, policy coordination

A Model of Fickle Capital Flows and Retrenchment

NBER Working Paper No. w22751
Number of pages: 77 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 (533,313)
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Abstract:

63.

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 67 (273,236)
Citation 33

Abstract:

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

64.

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

Downloads 63 (295,883)

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

MIT Department of Economics Working Paper No. 17-07
Number of pages: 78 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 53 (327,051)

Abstract:

Risk-gap, output-gap, aggregate demand, aggregate supply, liquidity trap, interest rates, “rstar,” portfolio decisions, Sharpe ratio, monetary and macroprudential policy, forward guidance, heterogeneous beliefs, speculation, tail risk, endogenous volatility

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

NBER Working Paper No. w23614
Number of pages: 72 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 10 (522,304)
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Abstract:

65.

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
Ricardo J. Caballero and Adam B. Jaffe
Massachusetts Institute of Technology (MIT) - Department of Economics and Motu Economic and Public Policy Research
Downloads 59 (293,568)
Citation 81

Abstract:

66.

Uncertainty, Investment, and Industry Evolution

NBER Working Paper No. w4160
Number of pages: 31 Posted: 16 Nov 2001
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 49 (298,328)
Citation 48

Abstract:

67.

The Cleansing Effect of Recessions

NBER Working Paper No. w3922
Number of pages: 31 Posted: 31 Jul 2007
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 47 (322,132)
Citation 117

Abstract:

68.

Global Imbalances and Currency Wars at the ZLB

Downloads 43 (352,465)
Citation 2

Global Imbalances and Currency Wars at the ZLB

NBER Working Paper No. w21670
Number of pages: 73 Posted: 26 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 42 (362,496)
Citation 2
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Abstract:

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
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Citation 2
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Abstract:

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

69.

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

Downloads 42 (355,679)

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

NBER Working Paper No. w6221
Number of pages: 40 Posted: 25 May 2006
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 42 (362,496)
Citation 53

Abstract:

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)

Abstract:

70.

Speculative Growth

NBER Working Paper No. w9381
Number of pages: 44 Posted: 14 Dec 2002
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 39 (346,043)
Citation 15

Abstract:

71.

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 37 (352,465)
Citation 58

Abstract:

72.

The Macroeconomics of Specificity

Downloads 36 (376,655)
Citation 63

The Macroeconomics of Specificity

NBER Working Paper No. w5757
Number of pages: 51 Posted: 09 Dec 1996
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 36 (384,994)
Citation 63

Abstract:

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)

Abstract:

73.

Dynamic (S,S) Economies

NBER Working Paper No. w3734
Number of pages: 40 Posted: 27 Apr 2000
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 35 (369,404)
Citation 20

Abstract:

74.

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 34 (372,977)
Citation 36

Abstract:

75.

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
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 32 (376,655)
Citation 12

Abstract:

76.

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
Giuseppe Bertola and Ricardo J. Caballero
Centre for Economic Policy Research (CEPR) and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 28 (369,404)
Citation 12

Abstract:

77.

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 28 (409,027)
Citation 27

Abstract:

78.

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
Downloads 27 (413,605)
Citation 161
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Abstract:

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

79.

The "Other" Imbalance and the Financial Crisis

NBER Working Paper No. w15636
Number of pages: 43 Posted: 11 Jan 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 26 (396,078)
Citation 14

Abstract:

80.

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 26 (396,078)
Citation 10

Abstract:

81.

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
Downloads 25 (384,201)
Citation 31

Abstract:

82.

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 25 (423,313)
Citation 1

Abstract:

83.

Hedging Sudden Stops and Precautionary Contractions

NBER Working Paper No. w9778
Number of pages: 59 Posted: 20 Jul 2006
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of Chicago - Booth School of Business
Downloads 25 (404,650)
Citation 26

Abstract:

84.

Inflation Targeting and Sudden Stops

NBER Working Paper No. w9599
Number of pages: 26 Posted: 05 Apr 2003
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 24 (409,027)
Citation 20

Abstract:

85.

The "Fundamental Transformation" in Macroeconomics

NBER Working Paper No. w5471
Number of pages: 14 Posted: 03 Jun 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 23 (404,650)
Citation 9

Abstract:

86.

Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy

NBER Working Paper No. w3729
Number of pages: 39 Posted: 15 Jan 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 22 (418,400)
Citation 19

Abstract:

87.

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 21 (423,313)
Citation 10

Abstract:

88.

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 21 (413,605)
Citation 20

Abstract:

89.

Near-Rationality, Heterogeneity and Aggregate Consumption

NBER Working Paper No. w4035
Number of pages: 28 Posted: 23 Sep 2000
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 21 (443,800)
Citation 10

Abstract:

90.

Improper Churn: Social Costs and Macroeconomic Consequences

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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 20 (464,384)
Citation 7

Abstract:

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)

Abstract:

91.

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 19 (454,333)
Citation 71

Abstract:

92.

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 18 (423,313)
Citation 4

Abstract:

93.

Safe Asset Scarcity and Aggregate Demand

Downloads 16 (469,856)

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
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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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Abstract:

94.

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 15 (423,313)
Citation 2

Abstract:

95.

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 13 (464,725)
Citation 5

Abstract:

96.

Nonlinear Aggregate Investment Dynamics: Theory and Evidence

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Citation 6

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 13 (505,178)
Citation 6

Abstract:

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

Abstract:

97.

On the Ills of Adjustment

NBER Working Paper No. w5198
Number of pages: 38 Posted: 20 Jul 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 13 (459,547)
Citation 16

Abstract:

98.

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
Downloads 12 (443,800)
Citation 4

Abstract:

99.

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 12 (469,856)
Citation 18

Abstract:

100.

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 10 (485,467)
Citation 96

Abstract:

101.

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
Downloads 10 (485,467)
Citation 4

Abstract:

102.

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 2 (325,011)
Citation 1

Abstract:

103.

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 0 (207,114)

Abstract:

104.

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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