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PUBLICATIONS
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"Evaluating International Financial
Integration Under Leverage Constraints" European Economic Review,
2011, 55, 427-442 (with Michael B Devereux)
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"Country Portfolios in Open Economy
Macro Models" Journal of the European Economic Association, 2011,
9, 337-369 (with Michael B Devereux) (Working paper version:
pdf
file.)
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"Country Portfolio Dynamics" Journal
of Economic Dynamics and Control, 2010, 34, 1325-1342 (with Michael B
Devereux) (Working paper version: pdf
file.)
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"Valuation Effects and the Dynamics
of Net External Assets" Journal of International Economics,
2010, 80, 129-143. (with Michael B Devereux) (Working paper version: pdf file.)
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"A Portfolio Model of Capital Flows
to Emerging Markets" Journal of Development Economics, 2009,
89, 181-193. (with Michael B Devereux) (Working paper version: pdf file.)
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"Financial Globalization and
Monetary Policy" Journal of Monetary Economics, 2008, 55,
1363-1375. (with Michael B Devereux) (Working paper version: pdf file.)
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"Foreign Money Shocks and the
Welfare Performance of Alternative Monetary Policy Regimes" Scandinavian
Journal of Economics, 2007, 109, 245-266. (with Ozge Senay) (Working
paper version: pdf file.)
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"Monetary Policy and Portfolio
Choice in an Open Economy Macro Model" Journal of the European
Economic Association, 2007, 5 (Papers and Proceedings), 491-499. (with
Michael B Devereux) (Working paper version: pdf
file.)
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"Optimal Monetary Policy and the
Timing of Asset Trade in Open Economies" Economics Letters,
2007, 95, 297-302. (with Ozge Senay) (Working paper version: pdf file.)
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"Computing Second-Order-Accurate
Solutions for Rational Expectation Models using Linear Solution
Methods" Journal of Economic Dynamics and Control, 2007, 31,
515-530. (with Giovanni Lombardo) (Working paper version: pdf file.) (MATLAB
files)
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"Policy Instrument Choice and
Non-Coordinated Monetary Policy in Interdependent Economies" Journal
of International Money and Finance, 2006, 25, 855-873. (with Giovanni
Lombardo) (Working paper version: pdf file.)
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"Can Endogenous Changes in Price
Flexibility Alter the Relative Welfare Performance of Exchange Rate
Regimes?" International Seminar on Macroeconomics 2004, 2006,
371-400. (with Ozge Senay) (Working paper version: NBER Working Paper No 11092.)
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"The Expenditure Switching Effect,
Welfare and Monetary Policy in a Small Open Economy" Journal of
Economic Dynamics and Control, 2006, 30, 1159-1182. (Working paper
version: pdf file.)
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"Currency Crises and the Term Structure
of Interest Rates" Open Economies Review, 2006, 17, 57-71.
(Working paper version: pdf file)
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"Incomplete
Pass-Through and the Welfare Effects of Exchange Rate Variability" Journal
of International Economics, 2005, 65, 375-399. (Working paper version: pdf file)
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"Cost-Push
Shocks and Monetary Policy in Open Economies" Oxford Economic
Papers, 2005, 57, 1-33. (Working paper version: pdf file)
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"The
Expenditure Switching Effect and the Choice Between Fixed and Floating
Exchange Rates" in Driver, Sinclair and Thoenissen (eds), Exchange
Rates, Capital Flows and Policy, 2004, London: Routledge. (with Ozge
Senay) (Working paper version CEPR Discussion Paper No 4300 pdf file).
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"Monetary
Union and the Maastricht Inflation Criterion: The Accession Countries"
The Economics of Transition, 2004, 12, 635-652. (with Gulcin Ozkan
and Anne Sibert) (This is a substantially revised version of "Monetary
Union, Entry Conditions and Economic Reform" CEPR Discussion Paper No
1720, pdf file.)
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"Monetary
and Fiscal Interactions in Open Economies" Journal of
Macroeconomics, 2004 26, 319-348. (with Giovanni Lombardo) (Working
paper version, European
Central Bank WP No 289)
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"Monetary Union and Labour Market
Reform" Journal of International Economics, 2000, 51, 421-435.
(with Anne Sibert)
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"A Currency Crisis Model with an
Optimising Policymaker" Journal of International Economics,
1998, 44, 339-364. (with Gulcin Ozkan)
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"Fiscal Crises and Aggregate Demand:
Can High Public Debt Reverse the Effects of Fiscal Policy" Journal
of Public Economics, 1997, 65, 147-162.
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"Financial Market Integration and
Macroeconomic Volatility" Scandinavian Journal of Economics,
1996, 98, 521-539.
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"Intrinsic Bubbles and Mean
Reverting Fundamentals" Journal of Monetary Economics, 1996,
37, 163-173.
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"Exchange Rate Realignments and
Realignment Expectations" Oxford Economic Papers 1995, 47,
211-228. (with Ed Stansfield)
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"State-and-Time-Contingent Switches
of Exchange Rate Regime" Journal of International Economics,
1995, 38, 361-374.
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"Policy Measures to Avoid a Currency
Crisis" Economic Journal, 1995, 105, 510-519. (with Gulcin
Ozkan)
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"Monetary and Real Shocks and the
Optimal Target Zone" European Economic Review, 1995, 39,
161-172.
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"Currency Crisis Models:
Bridging the Gap Between Old and New Approaches" in Bordes, Girardin
and Melitz (eds) European Currency Crises and After, 1995, 57-81,
Manchester: Manchester University Press.
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"Menu Costs and Aggregate Price
Dynamics" in Dixon and Rankin (eds.) The New Macroeconomics:
Imperfect Markets and Policy Effectiveness, 1995, 337-359, Cambridge:
CUP.
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"Speculative Anticipations of
Sterling's Return to Gold: Was Keynes Wrong" Economic Journal,
1994, 104, 804-12. (with Marcus Miller)
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"Target Zone Models with Price
Inertia: Solutions and Testable Implications" Economic Journal,
1994, 104, 96-113.
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"Contracts, Credibility and Common
Knowledge: Their Role in Inflation Convergence" IMF Staff Papers,
1993, 40, 178-201. (with Marcus Miller)
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"Inflation Convergence with
Realignments in a Two-Speed Europe" Economic Journal, 1992,
102, 333-41. (with Luisa Lambertini and Marcus Miller)
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"The 'Walters Critique' of the EMS:
a Case of Inconsistent Expectations" The Manchester School
1991, Vol LIX Supplement, 23-37. (with Marcus Miller)
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"Britain's Return to Gold and Entry
into the EMS: Joining Conditions and Credibility" in Krugman and
Miller (eds.) Exchange Rate Targets and Currency Bands, 1991,
82-116, Cambridge: CUP. (with Marcus Miller)
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"Time Consistency, Discounting and
the Returns to Co-operation" in Carraro, Laussel, Salmon and Soubeyran
(eds.) International Economic Policy Coordination, 1991, 141-65,
Oxford: Blackwell. (with Marcus Miller and Mark Salmon)
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"Entering a Preannounced Currency
Band" Economics Letters, 1990, 34, 363-68. (with Masaki
Ichikawa and Marcus Miller)
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"Monetary and Exchange Rate Targets,
and After: a Stochastic 'Hard Landing' for Sterling?" in Argy and De
Grauwe (eds.) Choosing an Exchange Rate Regime - The Challenge for
Smaller Industrial Countries, 1990, 319-45, Washington: IMF. (with
Marcus Miller)
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"Hysteresis, Monetary Policy and
Target Zones" in Christodoulakis (ed.) Dynamic Modelling and
Control of National Economies, 1989, 465-72, Oxford: Pergamon.
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"Measures
of Fiscal Stance and Rules for Stabilising the Economy: the Case for
Separating Measurement from Policy" in Eltis and Sinclair (eds.) Keynes
and Economic Policy, 1988, 216-34, London: Macmillan. (with Marcus
Miller)
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