Marcus H. Miller

University of Warwick - Department of Economics

Coventry CV4 7AL

United Kingdom

Institute for International Economics

Visiting Fellow

1750 Massachusetts Avenue, NW

Washington, DC 20036-1903

United States

Centre for Economic Policy Research (CEPR)

Fellow

77 Bastwick Street

London, EC1V 3PZ

United Kingdom

SCHOLARLY PAPERS

40

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3,912

CITATIONS
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Top 3,183

in Total Papers Citations

173

Scholarly Papers (40)

1.

Financial Crisis in East Asia: Bank Runs, Asset Bubbles and Antidotes

CSGR Working Paper No. 11/98
Number of pages: 42 Posted: 17 Jun 1999
Marcus H. Miller and Pongsak Luangaram
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 1,229 (12,896)
Citation 8

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2.

Asset Bubbles, Domino Effects and 'Lifeboats' Elements of the East Asian Crisis

FRB International Finance Discussion Paper No. 606
Number of pages: 35 Posted: 08 Aug 1998
Hali J. Edison, Pongsak Luangaram and Marcus H. Miller
International Monetary Fund (IMF) - Research Department, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 940 (18,940)
Citation 19

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3.

Moral Hazard and the U.S. Stock Market: Analyzing the 'Greenspan Put'?

Institute for International Economics Working Paper No. 02-01
Number of pages: 21 Posted: 16 Feb 2002
Marcus H. Miller, Paul A. Weller and Lei Zhang
University of Warwick - Department of Economics, University of Iowa - Department of Finance and University of Warwick - Department of Economics
Downloads 228 (112,400)
Citation 14

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Moral Hazard and the Us Stock Market: Analysing the 'Greenspan Put'

Number of pages: 26 Posted: 20 Oct 2001
Marcus H. Miller, Paul A. Weller and Lei Zhang
University of Warwick - Department of Economics, University of Iowa - Department of Finance and University of Warwick - Department of Economics
Downloads 189 (138,484)
Citation 14

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Asset bubble, Monetary policy, Greenspan put, Risk premium

Moral Hazard and the Us Stock Market: Analysing the 'Greenspan Put'

Economic Journal, Vol. 112, pp. C171-C186, 2002
Number of pages: 16 Posted: 20 Nov 2002
Marcus H. Miller, Paul A. Weller and Lei Zhang
University of Warwick - Department of Economics, University of Iowa - Department of Finance and University of Warwick - Department of Economics
Downloads 33 (408,594)
Citation 14
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5.

Sovereign Liquidity Crises: The Strategic Case for a Payments Standstill

Number of pages: 26 Posted: 29 Sep 1998
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 145 (169,086)
Citation 20

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6.

Growth Expectations, Capital Flows and International Risk Sharing

ECB Working Paper No. 237
Number of pages: 44 Posted: 16 Dec 2003
Olli Castren, Roger Stiegert and Marcus H. Miller
European Central Bank (ECB), European Central Bank (ECB) and University of Warwick - Department of Economics
Downloads 135 (177,803)
Citation 3

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Capital flows, consumption smoothing, risk aversion, international risk sharing, international business cycle synchronisation

7.

Capital Flows, Interest Rates and Precautionary Behaviour: A Model of Global Imbalances

WEFRP Working Paper No. WEF 0014
Number of pages: 38 Posted: 31 Oct 2006
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 107 (213,727)

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stochastic dynamic general equilibrium, loss aversion, liquidity trap

8.

Exchange Monitoring Bands: Theory and Policy

CEIS Tor Vergata Research Paper Series No. 8
Number of pages: 35 Posted: 08 Apr 2003
Luisa Corrado, Marcus H. Miller and Lei Zhang
University of Rome Tor Vergata Department of Economics and Finance, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 89 (243,041)
Citation 1

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Monitoring Band, Non-linear Mean-Reversion, Near Random Walk Dynamics

9.

Global Financial Crises Institutions and Incentives

IMF Working Paper No. 00/105
Number of pages: 26 Posted: 15 Feb 2006
Manmohan Kumar, Paul R. Masson and Marcus H. Miller
International Monetary Fund (IMF) - Research Department, International Monetary Fund (IMF) - Research Department and University of Warwick - Department of Economics
Downloads 87 (239,685)
Citation 6

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International monetary reform lender of last resort financial crises

10.

Capital Flows and the Us 'New Economy': Consumption Smoothing and Risk Exposure

ECB Working Paper No. 459
Number of pages: 36 Posted: 11 May 2005
Marcus H. Miller, Olli Castren and Lei Zhang
University of Warwick - Department of Economics, European Central Bank (ECB) and University of Warwick - Department of Economics
Downloads 56 (310,020)
Citation 2

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Capital flows, moral hazard, international transmission of shocks

11.

No Credit for Transition: The Maastricht Treaty and German Unemployment

Warwick University CSGR Working Paper No. 04/98
Number of pages: 21 Posted: 19 Nov 1998
Marcus H. Miller and John Driffill
University of Warwick - Department of Economics and University of London - Birkbeck College
Downloads 55 (323,277)
Citation 1

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Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?

NBER Working Paper No. w15817
Number of pages: 29 Posted: 05 Apr 2010 Last Revised: 21 Sep 2010
Marcus H. Miller and Joseph E. Stiglitz
University of Warwick - Department of Economics and Columbia Business School - Finance and Economics
Downloads 40 (380,469)
Citation 1

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Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?

CEPR Discussion Paper No. DP7469
Number of pages: 34 Posted: 07 Oct 2009
Marcus H. Miller and Joseph E. Stiglitz
University of Warwick - Department of Economics and Columbia Business School - Finance and Economics
Downloads 6 (556,924)
Citation 1
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asset bubbles, Credit constraints, insolvency, interest rates, leverage, restructuring

Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?

The Economic Journal, Vol. 120, Issue 544, pp. 500-518, May 2010
Number of pages: 19 Posted: 10 May 2010
Marcus H. Miller and Joseph E. Stiglitz
University of Warwick - Department of Economics and Columbia Business School - Finance and Economics
Downloads 2 (582,785)
Citation 1
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13.

Monitoring Bands and Monitoring Rules: How Currency Intervention Can Change Market Composition

CEIS Working Paper No. 92
Number of pages: 18 Posted: 12 Feb 2007
Luisa Corrado, Marcus H. Miller and Lei Zhang
University of Rome Tor Vergata Department of Economics and Finance, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 47 (334,864)
Citation 2

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Monitoring Rules, Monitoring Band, Bear and Bull Traders, Excess Volatility, Central Bank Volatility

14.

Real Exchange Rate Overshooting and the Output Cost of Bringing Down Inflation

NBER Working Paper No. w0749
Number of pages: 61 Posted: 28 Jun 2004
Willem H. Buiter and Marcus H. Miller
Citigroup New York and University of Warwick - Department of Economics
Downloads 47 (349,877)
Citation 15

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15.

Monetary Policy and International Competitiveness

NBER Working Paper No. w0591
Number of pages: 79 Posted: 19 Jun 2004 Last Revised: 15 Aug 2010
Willem H. Buiter and Marcus H. Miller
Citigroup New York and University of Warwick - Department of Economics
Downloads 38 (379,975)
Citation 6

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Sovereign Debt Restructuring: The Judge, the Vultures and Creditor Rights

CEPR Discussion Paper No. 5710
Number of pages: 36 Posted: 10 Aug 2006
Marcus H. Miller and Dania Thomas
University of Warwick - Department of Economics and University of Warwick - Centre for the Study of Globalisation and Regionalisation (CSGR)
Downloads 21 (470,726)
Citation 3
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Sovereign debt restructuring, holdout creditors, collective action clauses

Sovereign Debt Restructuring: The Judge, the Vultures and Creditor Rights

The World Economy, Vol. 30, No. 10, pp. 1491-1509, October 2007
Number of pages: 19 Posted: 21 Sep 2007
Marcus H. Miller and Dania Thomas
University of Warwick - Department of Economics and Keele University - School of Law
Downloads 14 (511,816)
Citation 3
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17.

Coordination Failure, Moral Hazard and Sovereign Bankruptcy Procedures

CEPR Discussion Paper No. 3729
Number of pages: 39 Posted: 01 May 2003
Sayantan Ghosal and Marcus H. Miller
University of Glasgow - Adam Smith Business School and University of Warwick - Department of Economics
Downloads 31 (407,275)
Citation 13
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International financial architecture, sovereign debt restructuring, creditor coordination, moral hazard

18.

Sovereign Default by Argentina: 'Slow Motion Train Crash' or Self-Fulfilling Crisis?

CEPR Discussion Paper No. 3399
Number of pages: 20 Posted: 19 Jul 2002
Javier Garcia-Fronti, Marcus H. Miller and Lei Zhang
University of Buenos Aires (UBA) - Centro de Investigación en Métodos Cuantitativos Aplicados a la Economía y la Gestión, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 28 (420,506)
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Multiple equilibria, regime switches, currency crisis

19.

Moral Hazard and the Us Stock Market: The Idea of a 'Greenspan Put'

CEPR Discussion Paper No. 3041
Number of pages: 30 Posted: 25 Nov 2001
Marcus H. Miller, Paul A. Weller and Lei Zhang
University of Warwick - Department of Economics, University of Iowa - Department of Finance and University of Warwick - Department of Economics
Downloads 27 (425,216)
Citation 15
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Asset bubble, monetary policy, Greenspan put, risk premium

20.

Contacts, Credibility and Common Knowledge: Their Influence on Inflation Convergence

IMF Working Paper No. 92/26
Number of pages: 24 Posted: 15 Feb 2006
Marcus H. Miller
University of Warwick - Department of Economics
Downloads 26 (415,993)
Citation 1

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21.

Costs and Benefits of an Anti-Inflationary Policy: Questions and Issues

NBER Working Paper No. w1252
Number of pages: 51 Posted: 07 Apr 2004
Willem H. Buiter and Marcus H. Miller
Citigroup New York and University of Warwick - Department of Economics
Downloads 23 (425,216)
Citation 11

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22.

Fear and Market Failure: Global Imbalances and 'Self-Insurance'

CEPR Discussion Paper No. 6000
Number of pages: 46 Posted: 27 Mar 2007
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 19 (466,150)
Citation 4
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Stochastic dynamic general equilibrium, loss aversion, liquidity trap

23.

Debt Restructuring and Economic Recovery: Analysing the Argentine Swap

World Economy, Vol. 29, pp. 377-398, April 2006
Number of pages: 22 Posted: 08 May 2006
University of Warwick - Department of Economics, University of Buenos Aires (UBA) - Centro de Investigación en Métodos Cuantitativos Aplicados a la Economía y la Gestión, University of Glasgow - Adam Smith Business School and University of Warwick - Department of Economics
Downloads 19 (466,150)
Citation 2
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24.

World Finance and the Us 'New Economy': Risk Sharing and Risk Exposure

CEPR Discussion Paper No. 4855
Number of pages: 36 Posted: 11 May 2005
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 19 (466,150)
Citation 1
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Capital flows, moral hazard, international transmission of shocks

25.

Bargaining and Sustainability: The Argentine Debt Swap of 2005

CEPR Discussion Paper No. 5236
Number of pages: 37 Posted: 24 Oct 2005
University of Warwick - Department of Economics, University of Buenos Aires (UBA) - Centro de Investigación en Métodos Cuantitativos Aplicados a la Economía y la Gestión, University of Glasgow - Adam Smith Business School and University of Warwick - Department of Economics
Downloads 18 (471,460)
Citation 2
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Bargaining, sustainability, efficiency delay, debt restructuring

26.

Credit Crunch and Keynesian Contraction: Argentina in Crisis

CEPR Discussion Paper No. 4889
Number of pages: 46 Posted: 26 May 2005
Marcus H. Miller, Javier Garcia-Fronti and Lei Zhang
University of Warwick - Department of Economics, University of Buenos Aires (UBA) - Centro de Investigación en Métodos Cuantitativos Aplicados a la Economía y la Gestión and University of Warwick - Department of Economics
Downloads 18 (471,460)
Citation 1
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Argentina debt crisis, twin crisis, keynesian recession, asymmetric pesification, conflicting beliefs

27.

Exchange Rate Monitoring Bands: Theory and Policy

CEPR Discussion Paper No. 3337
Number of pages: 37 Posted: 28 May 2002
Luisa Corrado, Marcus H. Miller and Lei Zhang
University of Rome Tor Vergata Department of Economics and Finance, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 17 (476,719)
Citation 1
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Monitoring band, non-linear mean-reversion, near random walk dynamics

28.

No Credit for Transition: European Institutions and German Unemployment

Scottish Journal of Political Economy, Vol. 50, pp. 41-60, 2003
Number of pages: 20 Posted: 18 Apr 2003
John Driffill and Marcus H. Miller
University of London - Birkbeck College and University of Warwick - Department of Economics
Downloads 14 (492,321)
Citation 1
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29.

Fear and Market Failure: Global Imbalances and “Self-Insurance”

IDB Working Paper No. 496
Number of pages: 40 Posted: 25 Apr 2011
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 11 (492,321)
Citation 4

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30.

Supply Shocks and Currency Crises: The Policy Dilemma Reconsidered

CEPR Discussion Paper No. 5905
Number of pages: 41 Posted: 29 Dec 2006
Javier Garcia-Fronti, Marcus H. Miller and Lei Zhang
University of Buenos Aires (UBA) - Centro de Investigación en Métodos Cuantitativos Aplicados a la Economía y la Gestión, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 9 (518,130)
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Supply and demand shocks, financial crises, contractionary devaluation, Keynesian recession

31.

When Bigger Isn't Better: Bail Outs and Bank Behaviour

CEPR Discussion Paper No. DP8602
Number of pages: 48 Posted: 01 Nov 2011
Han Hao Li, Lei Zhang and Marcus H. Miller
affiliation not provided to SSRN, University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 7 (527,899)
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bailouts, money and banking, regulation, risk-taking, seigniorage

32.

Punishment Without Crime? Prison as a Worker-Discipline Device

CEPR Discussion Paper No. DP6621
Number of pages: 47 Posted: 05 Jun 2008
Marcus H. Miller and Jennifer C. Smith
University of Warwick - Department of Economics and University of Warwick - Department of Economics
Downloads 5 (537,362)
Citation 1
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Asymmetric information, efficiency wage, Labour-discipline, Soviet Gulag

33.

Liquidity When It Matters Most: QE and Tobin's Q

CEPR Discussion Paper No. DP8511
Number of pages: 40 Posted: 12 Aug 2011
John Driffill and Marcus H. Miller
affiliation not provided to SSRN and University of Warwick - Department of Economics
Downloads 4 (542,242)
Citation 1
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Credit Constraints, Liquidity Shocks, Temporary Equilibrium

34.

Waiting for a Haircut? A Bargaining Perspective on Sovereign Debt Restructuring

CEPR Discussion Paper No. DP11710
Number of pages: 29 Posted: 19 Dec 2016
Sayantan Ghosal, Marcus H. Miller and Kannika Thampanishvong
University of Glasgow - Adam Smith Business School, University of Warwick - Department of Economics and Thailand Development Research Institute
Downloads 0 (580,456)
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asymmetric information, debt restructuring, delay, growth, sustainability

35.

A Comedy of Errors: Misguided Policy, Mis-Sold Mortgages, and More

CEPR Discussion Paper No. DP11533
Number of pages: 29 Posted: 03 Oct 2016
Marcus H. Miller, Lei Zhang and Songklod Rastapana
University of Warwick - Department of Economics, Sichuan University and University of Warwick
Downloads 0 (565,754)
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default, Financial crises, financial stability, General Equilibrium

36.

The Hedgehog and the Fox: From DSGE to Macro‐Pru

The Manchester School, Vol. 83, pp. 31-55, 2015
Number of pages: 25 Posted: 27 Aug 2015
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and Sichuan University - School of Economics
Downloads 0 (580,456)
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37.

Asset Bubbles, Leverage and "Lifeboats": Elements of the East Asian Crisis

The Economic Journal, Vol. 110, Issue 460, January 2000
Posted: 27 Jun 2000
Hali J. Edison, Pongsak Luangaram and Marcus H. Miller
International Monetary Fund (IMF) - Research Department, University of Warwick - Department of Economics and University of Warwick - Department of Economics

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38.

Stochastic Saddlepoint Systems, Stabilization Policy and the Stock Market

JOURNAL OF ECONOMIC DYNAMICS AND CONTROL, 19, 1995
Posted: 04 May 2000
Marcus H. Miller and Paul A. Weller
University of Warwick - Department of Economics and University of Iowa - Department of Finance

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39.

Debt in Industry Equilibrium

REVIEW OF FINANCIAL STUDIES, Vol. 10, No. 1
Posted: 31 Mar 1997
Steven Fries, Marcus H. Miller and William Perraudin
European Bank for Reconstruction and Development (EBRD), University of Warwick - Department of Economics and Imperial College London - Accounting, Finance, and Macroeconomics

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40.

Hyperinflation and Stabilization: Cagan Revisited

CEPR Discussion Paper Series No. 1513
Posted: 24 Mar 1997
Marcus H. Miller and Lei Zhang
University of Warwick - Department of Economics and University of Warwick - Department of Economics

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