Barry Eichengreen
George C. Pardee and Helen N. Pardee Professor of Economics and Political Science
Research Papers
"A Thousand Years of Paper Currency, and What Comes Next," in Johannes Bermann, The Euro at 20: The Future of our Money, London: Penguin (2022).
"Imported or Home Grown? The 12992-3 EMS Crisis" (with Alain Naef), Journal of International Economics (2022).
"The Stealth Erosion of Dollar Dominance" (with Serkan Arslanalp and Chima Simpson Bell)," Journal of International Economics (2022).
"Epidemic Exposure, Financial Technology and the Digital Divide" (With Orkun Saka and Cevat Aksoy), Journal of Money, Credit and Banking (2022).
"Manufacturing and Service Sector Productivity in Turkey: A Perspective from Firm-Level Data" (with Nergiz Dincer ande Ayca Tekin-Koru), The World Economy (2022).
"Somnolence to Dominance: A Hundred Years of the Foreign Exchange Market in London," Journal of European Economic History (2022).
"Trends in Monetary Policy Transparency: Further Updates" (with Nergiz Dincer and Petra Geraats), International Journal of Central Banking (2022).
"Stablecoins and Central Bank Digital Currencies: Policy and Regulatory Challenges" (with Ganesh Viswanath-Natraj), Asian Economic Papers (2022).
"The Taper this Time: India and the World," Indian Public Policy Review (2022).
"Will Brexit Age Well? Cohorts, Seasoning and the Age-Leave Gradient: On the Evolution of UK Support for the European Union" (With Rebecca Maria Mari and Gregory Thwaites), Economica (2021).
"Bretton Woods After 50," Review of Political Economy (2021).
"International Finance, 1870-2010," in Stephen Broadberry ed., Cambridge Economic History of the Modern World, Volume 2: 1870 to the Present (Cambridge University Press 2021).
"Financial Development in Asia, with Special Reference to the Experience of China," in Steven Davis ed., Asian Monetary Policy Forum: Implications for Central Banking (World Scientific, 2021).
"Revenge of the Experts: Will COVID-19 Renew or Diminish Public Trust in Science?" (with Cevat Aksoy and Orkun Saka), Journal of Public Economics (2021).
"The Shape of Recovery: Implications of Past Experience for the Duration of the COVID-19 Recession" (with Donghyun Park and Kwanho Shin), Journal of Macroeconomics (2021).
"Gold and South Africa's Great Depression," Economic History of Developing Regions (2021).
"The Role of the External Sector in Financial Reform" (with Guangtao Xia), in Lowell Dittmar ed. China's Political Economy in the Xi Jinping Era (World Scientific Publishers 2021).
"Bretton Woods After 50," Review of Political Economy (2021)
"International Finance 1870-2010," in Stephen Broadberry ed., Cambridge Economic History of the Modern World, Volume 2: 1870 to the Present (Cambridge University Press, 2021)
"Digital Currencies: More than a Passing Fad?" Current History (January 2022).
"Revenge of the Experts: Will COVID-19 Renew or Diminish Public Trust in Science?" (with Cevat Aksoy and Orkun Saka), Journal of Public Economics (2021).
"The Shape of Recovery: Implications of Past Experience for the Duration of the COVID-19 Recession" (with Donghyun Park and Kwanho Shin), Journal of Macroeconomics (2021).
"Gold and South Africa's Great Depression," Economic History of Developing Regions (2021).
"The Role of the External Sector in Financial Reform" (with Guangtao Xia), in Lowell Dittmar ed. China's Political Economy in the Xi Jinping Era (World Scientific Publishers 2021).
"The Gold Standard and the Euro: Conjoined Twins or Distant Relations?" in Economic Globalization and Governance: Essays in Honor of Jorge Braga de Macedo, (Springer 2020).
"Mars or Mercury Redux: The Geopolitics of Bilateral Trade Agreements" (with Arnaud Mehl and Livia Chitu), The World Economy (2020).
"Exchange Rates and Insulation in Emerging Markets" (with Tom Park, Eli Ramayandi and Kwanho Shin, Open Economies Review (2020).
"International Currencies in the Lens of History," in Stefano Battilossi, Youssef Cassis and Kazuhiko Yago eds., Handbook of the History of Money and Currency (Springer 2020).
"Why Hasn’t the Impact of the Trade War Been Greater?" Journal of Policy Modeling (2020).
“Keynesian Economics: Can it Return if it Never Died?” Review of Keynesian Economics (2020)..
“The New History of Finance Capital,” Capitalism: A Journal of History and Economics (2020).
“Financial Reform and Financial Opening in China,” Studies in International Finance, Vol. 10 (Bank of China, 2019).
“Populists at the Polls: Economic Factors in the U.S. Presidential Election of 1896” (with Michael Haines, Matthew Jaremski and David Leblang), Research in Economic History (2019).
“The Euro Crisis in the Mirror of the EMS: How Tying Odysseus to the Mast Avoided the Sirens but Led Him to Charybdis” (with Giancarlo Corsetti, Galina Hale and Eric Talman), Open Economies Review (2019).
“Two Views of the International Monetary System,” Intereconomics (2019).
“The Link to Gold as the Original Sin of Bretton Woods,” in Naomi Lamoreau and Ian Shapiro eds., The Bretton Woods Agreements (Yale University Press 2019).
“Brexit, the City of London, and the Prospects for Foreign Portfolio Investment” (with William Jungerman and Mingyang Liu), Empirica (2019).
"Mars Versus Mercury: The Geopolitics of International Currency Choice," (with Arnaud Mehl and Livia Chitu), Economic Policy (Summer 2019).
“International Currencies in the Lens of History,” in Stefano Battliossi, Youssef Cassis and Kazuhiko Yago eds, Handbook of the History of Money and Currency (Springer 2019).
“China and the SDR: Financial Liberalization Through the Back Door”(with Guangtao Xia), Quarterly Journal of Finance (2019).
“The Link to Gold as the Original Sin of Bretton Woods,” in Naomi Lamoreau and Ian Shapiro eds., The Bretton Woods Agreements (Yale University Press 2019).
"The International Financial Implications of Brexit," International Economics and Economic Policy (2019).
“Versailles: The Economic Legacy,” International Affairs (2019).
“Aftershocks of European Monetary Unification: Hysteria with a Financial Twist,”(with Tamim Bayoiumi), Journal of Banking and Finance (2018).
"The Euro and the Theory (and Practice) of Monetary Union,"in The Future of Central Banking, Frankfurt: ECB (2018).
"Banks, Financial Markets, and the Development of International Currencies," in Lilia Constabile and Larry Neal eds, Financial Innovation and Resilience, (Palgrave, 2018).
"Ragnar Nurse and the International Financial Architecture," Baltic Journal of Economics (2018).
"Populism, Ideology and Materialism," New Global Studies (2018).
“Aftershocks of European Monetary Unification: Hysteresis with a Financial Twist” (with Tamim Bayoiumi), Journal of Banking and Finance (2018).
“Banks, Financial Markets and the Development of International Currencies,” in Lilia Costabile and Larry Neal eds, Financial Innovation and Resilience (Palgrave 2018).
“Optimum Currency Areas Past and Future,” Oxford Encyclopedia of Economics and Finance (June 2018).
“Multilayered Governance and the International Financial Architecture: The Erosion of Multilateralism in International Liquidity Provision” (with Dominico Lombardi and Anton Malkin), Global Policy (2018).
“Managing Sudden Stops” (with Poonam Gupta), in Enrique Mendoza, Ernesto Pasten and Diego Saravia (eds), Monetary Policy and Global Spillovers (Central Bank of Chile 2018).
“Trade Policy and the Macroeconomy,” IMF Economic Review (2018).
“Deflation and Monetary Policy,” in Dongchul Cho, Takatoshi Ito and Andrew Mason (eds), Economic Stagnation in Japan: Exploring the Causes and Remedies of Japanization (Edward Elgar, 2018).
“The Landscape of Economic Growth: Do Middle-Income Countries Differ?” (with Donghung Park and Kwanho Shin), Emerging Markets Trade and Finance (2018).
“Global Monetary Order,” in European Central Bank, The Future of the International Monetary and Financial Architecture (ECB 2017).
“RMBI vs. RMBR: Is the Renminbi Destined to be a Regional or Global Currency?” (with Domenico Lombardi), Asian Economic Papers (Fall 2017).
“When Capital Flows Come to a Stop” (with Poonam Gupta), Economia Chilena (2017).
“Can Countries Rely on Foreign Saving for Investment and Economic Development?” with Eduardo Cavallo and Ugo Panizza, Review of World Economy (2017).
“The Great Depression and the Great Recession in a Historical Mirror,” in Upjohn Institute for Employment Research, Confronting Policy Challenges of the Great Recession, Lessons for Macroeconomic Policy Using History as a Guide (Upjohn Institute 2017).
“The Global Safety Net and the Role for Regional Arrangements,” in Economia de China, politica monetaria global y America Latina: Retos para los bancos centrales de la region, (FLAR July 2017).
“Multilayered Governance the International Financial Architecture” (with Domenico Lombardi and Anton Malkin), Global Policy (December 2017).
"Global Monetary Order," in Vitor Constancio and Philipp Hartmann (eds), The Future of the International Monetary and Financial Architecture (European Central Bank, 2016).
"The Dollar and the International Dimension of Monetary Policy," Revista d Economia (2016).
"Special Issue: Coping with Economic Volatility," International Economic Journal, 8 August 2016.
"A Century and a Half of Central Banks, International Reserves and International Currencies",(with Marc Flandreau), in Michael Bordo et al.(eds), Central Banks at a Crossroads: What Can We Learn from History? (Cambridge University Press 2016).
"The Great Depression in a Modern Mirror", De Economist, March 2016.
"Stability or Upheaval? The Currency Composition of International Reserves in the Long Run" with Livia Chitu and Arnaud Mehl, IMF Economic Review, 13 October 2015.
"Mutual Assistance between Federal Reserve Banks 1913-1960 as Prolegomena to the TARGET2 Debate" with Arnaud Mehl, Livia Chitu and Gary Richardson, Journal of Economic History September 2015.
"Twenty Years After Fifty Years After Bretton Woods" with Michael Bordo in Marc Uzan (ed) Bretton Woods: The Next 70 Years, The Reinventing Bretton Woods Committee, September 2015.
"From Tapering to Tightening: The Impact of the Fed's Exit on India" with Kaushik Basu and Poonam Gupta, India Policy Forum, 2014-2015.
"Sequencing RMB Internationalization", CIGI Papers Series, 25 May 2015.
"The Irish Crisis and the EU from a Distance", in IMF European Department Ireland: Lessons from Its Recovery from the Bank-Sovereign Doom Loop, January 2015.
"Financial Development and Economic Growth: The Long View," in Edward Chen and Wendy Dobson (eds), Financial Development and Cooperation in Asia and the Pacific, (Routledge, 2014). .
"History, Gravity and International Finance" (with Livia Chitu and Arnaud Mehl), Journal of International Money and Finance (2014).
"A Forensic Analysis of Global Imbalances" (with Menzie Chinn and Hiro Ito), Oxford Economic Papers (Summer 2014).
"Capital Controls in the 21st Century," CEPR Policy Insight (June 2014).
"Tapering Talk: The Impact of Expectations of Reduced Federal Reserve Security Purchases on Emerging Markets", Barry Eichengreen, University of California, Berkeley and Poonam Gupta, World Bank (12 December 2013).
"Exports of Services: Indian Experience in Perspective" (with Poonam Gupta), Indian Growth and Development Review (2013).
"The Eurozone Crisis: Phoenix Miracle or Lost Decade?" (with Naeun Jung, Stephen Moch and Ashoka Mody), Journal of Macroeconomics (Autumn 2013).
"The Financial Crisis and Indian Banks: Survival of the Fittest?" (with Poonam Gupta), Journal of International Money and Finance (December 2013).
"Does the Federal Reserve Care About the Rest of the World?", Journal of Economic Perspectives (2013).
"Political Extremism in the 1920s and 1930s: Do the German Lessons Generalize?" (with Alan de Bromhead and Keven O'Rourke), Journal of Economic History (July 2013).
"Currency War or International Policy Coordination?", Journal of Policy Modeling, May/June 2013.
"The Bretton Woods System," in Randall Parker and Robert Whaples eds, Routledge Handbook of Major Events in Economic History (Routledge 2013).
"The Architecture and Governance of Financial Supervision: Sources and Implications" (with Nergiz Dincer), International Finance (2013).
"How the Subprime Crisis Went Global: Evidence from Bank Credit Default Swap Spreads" (with Ashoka Mody, Luio Sarno and Milan Nedelijkovic), Journal of International Money and Finance (2012).
"Rebalancing Global Growth" (with Hiro Ito and Menzie Chinn), in Otaviano Canuto and Dani Leipziger (eds), Ascent After Decline: Regrowing Global Economies After the Great Recession, World Bank (2012). .
"European Monetary Integration with Benefit of Hindsight,"Journal of Common Market Studies (2012).
"Government, Business and Finance in Korean Industrial Development." International Economic Journal (September 2012).
"Throwing Out the Baby with the Bathwater: Implications of the Euro Crisis for Asian Monetary Integration,"Journal of Economic Integration (2012).
"The Two Waves of Service Sector Growth" (with Poonam Gupta), Oxford Economic Papers (2012).
"Flexing Your Muscles: Abandoning a Fixed Exchange Rate for Greater Flexibility" (with Andrew Rose), NBER International Seminar on Macroeconomics 2011 (University of Chicago Press, 2012).
"International Liquidity in a Multipolar World,"American Economic Review Papers and Proceedings (2012).
"Financial Crises and the Multilateral Response: What the Historical Record Shows" (with Bergjot Barbku and Ashoka Mody," Journal of International Economics (2012).
"When Did the Dollar Overtake Sterling as the Leading International Currency? Evidence from the Bond Markets," (with Livia Chitu and Arnaud Mehl). European Central Bank Working Paper Series, No. 1433 / May 2012.
"How Reliable are De Facto Exchange Rate Regime Classifications? " (with Raul Razo-Garcia). NBER Working Paper Working Paper No. 17318 , National Bureau of Economic Resarch, August 2011 and International Journal of Finance and Economics (2012).
"Right Wing Political Extremism in the Great Depression," (with Alan de Bromhead and Kevin H. O’Rourke). A preliminary version was presented at the conference on “The Ethics of Economics,” held in honor of Avner Offer, October 5, 2011 at All Souls College, Oxford.
"Implications of the Euro's Crisis for International Monetary Reform," Prepared for the session entitled "A New International Monetary Order?" at the Allied Social Science Associated Meetings, Chicago, January 6, 2012, and forthcoming in the Journal of Economic Policy Modeling.
"How Housing Slumps End," with Agustín S. Bénétrix and Kevin H. O’Rourke. Paper prepared for the Fifty-Fourth Panel Meeting of Economic Policy supported by the National Bank of Poland, 27-28 October 2011.
"Real Exchange Rates, Trade, and Growth: Italy 1861-2011,"(with Virginia Di Nino and Massimo Sbracia). Paper presented at the conference “Italy and the World Economy, 1861-2011,” Rome, Banca d’Italia 12-15 October 2011.
"International Policy Coordination: The Long View." September 2011.
"Economic History and Economic Policy." Presidential address to the annual meeting of the Economic History Association, Boston, MA, September 2011.
"The External Impact of China's Exchange Rate Policy: Evidence from Firm Level Data" (with Hui Tong). IMF Working Paper WP/11/155, IMF, July 2011.
"When Fast Growing Economies Slow Down: International Evidence and Implications for China" (with Donghyun Park and Kwanho Shin). NBER Working Paper 16919, NBER, March 2011.
"The Service Sector as India's Road to Economic Growth " (with Poonam Gupta). NBER Working Paper 16757, NBER, February 2011.
"The New Monetary and Financial History." In Monetary and Banking History: Essays in Honour of Forrest Capie, Geoffrey Wood, Terence Mills and Nicholas Crafts (eds.) Routledge 2011.
"Global Shifts." Prepared for the Bank of Finland’s 200th anniversary symposium, Helsinki, May 5-6, 2011.
"Macroeconomic and Financial Policies Before and After the Crisis." Prepared for the East-West Center/KDI Conference on the Global Economic Crisis, Honolulu, 19-20 August 2010.
"Imbalances in the Euro Area," November 2010.
"From Great Depression to Great Credit Crisis: Similarities, Differences and Lessons." Presented at the 50th Economic Policy Panel Meeting, held in Tilburg on October 23-24, 2009. In Economic Policy (2010).
"Exchange Rates and Global Rebalancing," with Gisela Rua. Prepared for the Brookings-ADBI workshop on Global Rebalancing, Tokyo, 3-4 March 2010. This version 12 May 2010.
"The Federal Reserve, the Bank of England and the Rise of the Dollar as an International Currency, 1914-39," with Marc Flandreau. BIS Working Paper No. 328, 1 November 2010.
"Fetters of Gold and Paper," with Peter Temin. Oxford Review of Economic Policy, 2010.
"The Economic Impact of European Integration," with Andrea Boltho. CEPR Discussion Paper No. 6820. Edited version in The Cambridge Economic History of Modern Europe, ed. Steve Broadberry and Kevin O'Rourke (Cambridge University Press 2010).
"Crisis and Growth in the Advanced Economies: What We Know, What We Don't, and What We Can Learn from the 1930s." December 2010. Revised version of a paper prepared for the World Bank-NYU conference on long-term effects of the financial crisis, 7-8 October 2010. Appears in Comparative Economic Studies (March 2011).
"27 Up: The Implications for China of Abandoning Its Dollar Peg," with Andrew Rose. 21 June 2010.
"Understanding West German economic growth in the 1950s," with Albrecht Ritschl. Cliometrica, Vol. 3, No. 3, October 2009.
"The Slide to Protectionism in the Great Depression: Who Succumbed and Why?" with Douglas A. Irwin. July 2009. NBER Working Paper No. 15142.
"Out of the Box Thoughts about the International Financial Architecture." 1 May 2009. IMF Working Paper No. 09/116. Also in Journal of Commerce, Economics and Policy (2010).
"Lessons of the Crisis for Emerging Markets." Asian Development Bank Institute Working Paper 179, 15 December 2009. Also in International Ecnomics and Economic Policy (2010).
"The Financial Crisis and Global Policy Reforms." Prepared for the Federal Reserve Bank of San Francisco's conference on Asia and the Financial Crisis, Santa Barbara, California, 19-21 October 2009, and in Asia and the Financial Crisis (Federal Reserve Bank of San Francisco 2010).
"Central Bank Transparency: Causes, Consequences and Updates," with Nergiz Dincer. February 2009. An earlier version of this paper was presented to the conference on Money Matters: The Law, Politics and Economics of Currency, held at Tel Aviv University on 7-9 January 2009. Appears in Theoretical Inquiries in Law (2010).
"Capital Account Liberalization, Financial Development and Industry Growth: A Synthetic View," with Rachita Gullapalli and Ugo Panizza. January 2009.
"Thirteen Questions about the Subprime Crisis." Prepared for a conference of the Tobin Project, "Toward a New Theory of Financial Regulation," White Oak Conference and Residency Center, Yulee, Florida, 1-3 February 2008.
The Rise and Fall of the Dollar, or When Did the Dollar Replace Sterling as the Leading Reserve Currency? with Marc Flandreau. Prepared for the conference in honor of Peter Temin, Cambridge, 9 May 2008. A longer version was presented to the Past, Present and Policy Panel, Genoa, Italy, 28-29 March 2008.
"Plumbing for Latin American Capital Markets" with Sudarat Ananchotikul. Appears in BIS Papers No. 26, "New Financing Trends in Latin America: A Bumpy Road Towards Stability," February 2008.
Exchange Rate Regimes and Capital Mobility: How Much of the Swoboda Thesis Survives? Prepared for the conference in honor of Alexander Swoboda, Geneva, May 2008.
"Europe's Coming Resurgence." A revised version appears in the Milken Review, March 2008.
"Bretton Woods and the Great Inflation," with Michael Bordo. NBER Working Paper 14532, December 2008.
"Sui Generis EMU." Presented to the European Commission's workshop "EMU@10: Achievements and Challenges," Brussels, 27 November 2007.
"The Real Exchange Rate and Economic Growth." Background paper for the World Bank Growth Commission, presented to the Commission meeting in New York City, 9 April 2007.
"Insurance Underwriter or Financial Development Fund: What Role for Reserve Pooling in Latin America?"Open Economies Review 18:1, February 2007. Presented to a FLAR-CEPAL conference in Lima, Peru, July 16-17, 2006.
"Fostering Monetary and Exchange Rate Cooperation in East Asia." Prepared for the EAMC Forum Conference on "Monetary and Financial Cooperation in Asia," Seoul, August 2007.
"Europe’s External Monetary and Financial Relations since the Euro" (with Alan Ahearne). Revised version of a paper presented to a Bruegel Conference in October 2006 (this version January 2007).
"European Integration: What Lessons for Asia?" Prepared for the Asian Development Bank project on Asian Regionalism, and presented to the project workshop in Bangkok, July 2007.
"Central Bank Transparency: Where, Why and with What Effects?" with Nergiz Dincer. NBER Working Paper No. 13003, March 2007.
"China and the Exports of Other Asian Countries" (with Yeongseop Rhee and Hui Tong). Review of World Economics 143:2, pp. 201-226, April 2007. An earlier draft of this paper was presented at the KIEP/Claremont conference on East Asian regionalism, Seoul, 26-27 August 2004.
"The Bush Legacy for America's International Economic Policy" (with Douglas Irwin). Prepared for the Conference on the Legacy of the Bush Years for the Next Adminstration, Miller Center for the Study of the Presidency, University of Virginia. This version August 2007.
"The Breakup of the Euro Area." For presentation to the NBER Summer Institute preconference for the project on the euro, 12 July 2007.
"A Blueprint for IMF Reform: More Than Just a Lender." International Finance 10:2 (2007).
"The Political Economy of European Integration," prepared for The Oxford Handbook of Political Economy, edited by Donald Wittman and Barry R. Weingast (Oxford University Press 2006).
"The Future of Global Financial Markets," prepared for the Conference on the Future of Globalization at Yale University, October 2003. Appears in the conference volume edited by Ernesto Zedillo, The Future of Globalization: Explorations in Light of Recent Turbulence (Routledge 2007). This updated version is from May 2006.
"Democracy and Globalization" (with David Leblang) Prepared for the BIS annual research conference in Brunnen, Switzerland, June 2006.
"China's Exchange Rate Regime: The Long and Short of It", Revision of a paper for Columbia University's conference on Chinese money and finance held in New York on February 2-3, 2006.
"Building Bond Markets in Latin America" (with Eduardo Borensztein and Ugo Panizza). Prepared for an IADB network on the growth of corporate bond markets in Latin America. Posted August 2006
"Bond Markets as Conduits for Capital Flows: How Does Asia Compare?" (with Pipat Luengnaruemitchai), NBER Working Paper No. 12408, August 2006.
"Sudden Stops and IMF Programs" (with Poonam Gupta and Ashoka Mody). An earlier version of this paper was presented to the Interamerican Seminar on Macroeconomics in Rio, 1-3 December 2005. This version is from 5 May 2006.
"Sterling's Past, Dollar's Future: Historical Perspectives on Reserve Currency Competition," text of the Tawney Lecture, delivered to the Economic History Society, Leicester, 10 April 2005.
"Is China's FDI Coming at the Expense of Other Countries?" (with Hui Tong), NBER Working Paper No. 11335, May 2005.
"Is a Change in the Renminbi Exchange Rate in China's Interest?" In Asian Economic Papers 4:1 (2006). An earlier version was presented to the Asian Economic Panel, 12-13 April 2004. This version is March 2005.
"Global Imbalances and the Lessons of Bretton Woods," in The Future of the International Monetary System edited by Marc Uzan (Edward Elgar 2005).
"Managing Capital Inflows: Eastern Europe in an Asian Mirror" (with Omar Choudry), prepared for the Turkish Central Bank/Center for European Integration Studies conference on Macroeconomic Policies for EU Accession, Ankara, 6-7 May 2005.
"Debt Denomination and Financial Instability in Emerging Market Economies" (with Ricardo Hausmann), editors' introduction to Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economies (University of Chicago Press 2005).
"Current Account Reversals: Always a Problem?" (with Muge Adalet) prepared for the NBER Conference on G7 Current Account Imbalances, Newport, Rhode Island, June 1-2, 2005.
"Can a Rapidly-Growing Export-Oriented Economy Smoothly Exit an Exchange Rate Peg? Lessons for China from Japan's High-Growth Era" (with Mariko Hatase), NBER working paper 11625, September 2005.
"Do Collective Action Clauses Raise Borrowing Costs?" (with Ashoka Mody), The Economic Journal, 114:495, April 2004.
"Why Doesn't Asia Have Bigger Bond Markets?" (with Pipat Luengnaruemitchai), for presentation to the Korea University/BIS Conference on Asian Bond Market Research, Seoul, 21-23 March 2004. Revised version appears as NBER Working Paper No. 10576, June 2004; as HKIMR Working Paper No. 24/2004; and as BIS Paper No. 30, part 7, November 2006.
"Managing the World Economy in the 1990s," prepared for the Duke University/University of North Carolina Conference on the Economic History of the 1990s, 26-27 March 2004.
"The IMF in a World of Private Capital Markets" (with Kenneth Kletzer and Ashoka Mody), revision of a paper presented to an IMF/Bank of Spain conference, Madrid, June 2004.
"The Great Depression as a Credit Boom Gone Wrong" (with Kris Mitchener), prepared for the BIS's Conference on Credit Booms. Revised version appears in Research in Economic History, Vol.22, pp. 183-237 (2004).
"Financial Instability," prepared for the Copenhagen Consensus project, May 2004, and in Bjorn Lomborg (ed.), Global Crises, Global Solutions (Cambridge University Press 2004).
"Why Has There Been Less Financial Integration in Asia than in Europe?" (with Yung Chul Park), presented to a conference on finacial market development in Asia, held in Honolulu, Hawaii, February 2003.
"Stock Market Volatility and Monetary Policy: What the Historical Record Shows" (with Hui Tong), prepared for the Annual Research Conference of the Reserve Bank of Australia, Sydney, August 2003.
"Restructuring Sovereign Debt," an edited version appears in the Journal of Economic Perspectives vol. 17(4), pages 75-98 (2003).
"The Pain of Original Sin" (with Ricardo Hausmann and Ugo Panizza), August 2003. Revision of paper presented to a conference at the Inter-American Development Bank (November 2002). This version appears in Barry Eichengreen and Ricardo Hausmann (eds.), Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economics (University of Chicago Press, 2004).
"Original Sin: The Road to Redemption" (with Ricardo Hausmann), August 2003. Revision of a paper presented to a conference at the Inter-American Development Bank (November 2002). Longer version appears as "The Pain of Original Sin"(with Ricardo Hausmann and Ugo Panizza),in Barry Eichengreen and Ricardo Hausmann (eds.), Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economics (University of Chicago Press, 2004).
"The Mystery of Original Sin" (with Ricardo Hausmann and Ugo Panizza), August 2003. Revision of a paper presented to a conference at the Inter-American Development Bank, November 2002. This version appears in Barry Eichengreen and Ricardo Hausmann (eds.), Other People's Money: Debt Denomination and Financial Instability in Emerging Market Economics (University of Chicago Press, 2004)
"Is Aggregation a Problem for Sovereign Debt Restructuring?" (with Ashoka Mody), presented at the ASSA meetings, Washington, DC, 4 March 2003. A revised version appears in American Economic Association Papers and Proceedings (2003).
"Crisis Resolution: Next Steps" (with Kenneth Kletzer and Ashoka Mody). IMF Working Paper WP/03/196, 2003. A revised version appears in Brookings Trade Forum 2003 (Brookings Press 2003).
"Capital Account Liberalization and Growth: Was Mr. Mahathir Right?" (with David Leblang), a revised version appears in The International Journal of Finance and Economics (2003).
"What to Do with the Chiang Mai Initiative," prepared for the Asian Economic Panel Meeting in Tokyo, May 2002. Click for figures. A revised version appears in Asian Economic Papers (2003).
"Still Fettered After All These Years," 2002. Originally prepared as revised version that appeared in Canadian Journal of Economics.
"Predicting and Preventing Financial Crises: Where Do We Stand? What Have We Learned?" prepared for the Kiel Week annual conference, Kiel, Germany, 24 - 25 June 2002. Click for figures. Revised version appears in Horst Siebert (ed.), Global Governance: An Architecture for the World Economy (2003).
"Hedge Fund Leverage Before and After the Crisis" (with Bokyeong Park). A revised version appears in The Journal of Economic Integration (2002).
"Capital Account Liberalization: What Do the Cross-Country Studies Tell Us?" preliminary version, April 2001. A revised version appears in The World Bank Economic Review, March 2002.
"The British Economy Between the Wars", prepared for the third edition of The Economic History of Britain (Roderick Floud and Paul Johnson, eds), 2002.
"When Does Capital Account Liberalization Help More Than it Hurts?" (with Carlos Arteta and Charles Wyplosz), March 2000. Prepared for the conference celebrating Assaf Razin's 60th birthday, held at Tel Aviv University, 25 - 26 March 2001. Updated July 2001. Revised version appears in Elhanan Helpman and Efraim Sadka (eds.), Economic Policy in the International Economy (Cambridge University Press, 2003).
"Monetary and Financial Reform in Two Eras of Globalization (and In Between)" (with Harold James), May 2001. Prepared for the NBER Conference on Globalization and History, Santa Barbara, 4 - 6 May 2001. Revised September 2001. A revised version appears in Globalization in Historical Perspective, Michael Bordo, Alan Taylor, and Jeffrey Williamson (eds.), (University of Chicago Press, 2005).
"Is the Crisis Problem Growing More Severe?" (with Michael Bordo, Daniela Klingebiel and Maria Soledad Martinez-Peria), January 2001. Click for figures 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 and 11. A revised version appears in Economic Policy April 2001.
"Innovation and Integration: Europe's Economy Since 1945." A revised version appears in Europe since 1945 (The Short Oxford History of Europe), edited by Mary Fulbrook (Oxford University Press 2001).
"International Financial Crises: Is the Problem Growing?" August 2001. A revised version appears in Jahrbuch fur Wirtschaftsgeschichte (2002).
"Hanging Together? On Monetary and Financial Cooperation in Asia", October 2001. Prepared for the World Bank project on Rethinking the Asian Miracle. An earlier version was presented to a meeting co-hosted by the World Bank and the Kennedy School of Government in Cambridge, 2-3 October 2001. A revision appears in Shahid Yusuf et al., Global Change and East Asian Policy Initiatives (Oxford 2003).
"EMU and Enlargement" (with Fabio Ghironi), prepared for a conference on Economic and Monetary Union organized by DG EcFin of the European Commission, Brussels, 21 - 22 March 2001. Revised version appears in Marco Buti and Adre Sapir (eds), EMU and Economic Policy in Europe (Edward Elgar, 2003).
"Does It Pay to Defend Against a Speculative Attack?" (with Andrew Rose), April 2001. A revised version appears in Managing Currency Crises in Emerging Markets, edited by Michael Dooley and Jeffrey Frankel.
"Counterfactual Histories of the Great Depression" (with Peter Temin), October 2001. A revised and edited version of this paper appears in Theo Balderston (ed.), The World Economy and National Economies in the Interwar Years.
"Crises Now and Then: What Lessons from the Last Era of Financial Globalization?" (with Michael Bordo), November 2001. Prepared for a conference in honor of Charles Goodhart at the Bank of England, 15 - 16 November 2001. A revised version appears in a festschrfit volume edited by Paul Mizen, Monetary History, Exchange Rates and Financial Markets (Edward Elgar 2004).
"Between Meltdown and Moral Hazard: The International Monetary and Financial Policies of the Clinton Administration" (with Brad DeLong), July 2001. Prepared for the conference on the Economic Policies of the Clinton Administration, Kennedy School of Government, 26-29 June 2001. A revised version apprears in a book by the same name, edited by Jeffrey Frankel and Peter Orzag.
"The Political Economy of European Monetary Unification: An Analytical Introduction" (with Jeffry Frieden), February 2000. Preliminary version of editors' introduction to the second edition of Barry Eichengreen and Jeffry Frieden, The Political Economy of European Monetary Unification, Second Edition (Westview Press, 2000).
"The EMS Crisis in Retrospect," preliminary version, November 2000. Prepared for the conference celebrating the 75th anniversary of the Banco de Mexico, Mexico City, 14 - 15 November 2000. A revised version appears in a volume edited by Guillermo Ortiz and Alejandro Werner, Stabilization and Monetary Policy: The International Experience.
"The Currency Composition of Foreign Exchange Reserves: Retrospect and Prospect," preliminary version, January 2000. Click for figures. Prepared for the UNU/WIDER Conference on the Future of the International Monetary and Financial System, Helsinki, 11 - 12 November 1999. A revised version appears in a volume edited by Charles Wyplosz, The Impact of EMU on Europe and the Developing Countries (Oxford University Press 2001).
"The Bail-In Problem: Systematic Goals, Ad Hoc Means," May 2000. A revised version was published in Economic Systems, 2001.
"Institutions and Economic Growth in Postwar Europe: Evidence and Conjectures" (with Pablo Vazquez), September 1999. A revised version was published in Productivity, Technology, and Economic Growth , edited by Bart van Ark (Kluwer Academic Publishers 2000).
"Policy Making in an Integrated World: From Surveillance to...?" preliminary version, 1999. Prepared for the Federal Reserve Bank of Boston's Conference on Policy Making in an Interdependent World, Cape Cod, 7 - 9 June 1999. A revised version appears in Jane Little and Giovanni Olivei (eds.), Rethinking the International Monetary System (1999)and in Andrew Hughes Hallet, et al. (eds.), Challenges for Economic Policy Coordination within European Monetary Union (2001).
"The Keynesian Revolution and the Nominal Revolution: Was There a Paradigm Shift in Economic Policy in the 1930s?", March 1999. A revised version appears in Valerio Castronovo (ed.), Storia dell-economia mondiale (A History of the World Economy), Volume 4: Between Expansion and Recession (1850-1930) (2000).
"Is Globalization Today Really Different than Globalization a Hundred Years Ago?" (with Michael Bordo and Douglas Irwin), preliminary version, 1999. Prepared for the Brookings Trade Policy Forum on Governing in a Global Economy, Washington, DC, 15 - 16 April 1999. Revised version published in Brookings Trade Policy Forum, 1999.
"Is Greater Private-Sector Burden Sharing Impossible?" preliminary version, 1999. Prepared for the IMF conference on Key Issues in Reform of the International Monetary and Financial System. Revised version published in Peter Kenen and Alexander Swoboda (eds.), Reforming the International Monetary and Financial System (2000).
"Is Our Current International Economic Environment Unusually Crisis Prone?" (with Michael Bordo), preliminary version, 1999. Click for figures. Prepared for the Reserve Bank of Australia Conference on Private Capital Flows, Sydney, 9 - 10 August 1999. A revised version was published in David Gruen and Luke Gower (eds.), Capital Flows and the International Financial System (1999).
"Institutions and Economic Performance: Evidence from the Labor Market" (with Torben Iversen), November 1999. A revised version was published in a special issue of The Oxford Review of Economic Policy, Winter 1999, on the economics of the 20th century.
"Hedge Funds in the New International Financial Architecture," preliminary version, 1999. Prepared for the Institute for Developing Economies Project on Reform of the International Financial Architecture, and presented at a symposium in Tokyo, 22 - 23 March 1999. A revised version was published in International Finance (2000).
"From Benign Neglect to Malignant Preoccupation: U.S. Balance-of-Payments Policy in the 1960s," preliminary version, November 1999. Prepared for the Brookings Conference on the U.S. Economy in the 1960s, November 1999. Published in a conference volume edited by George Perry and James Tobin, Economic Events Ideas and Policies: The 1960s and After (Brookings Institution Press 2000).
"The Empirics of Currency and Banking Crises" (with Andrew Rose), in NBER Reporter, 1999. Revised version published in Wirtschaftspolitisches Blatter (Austrian Economic Papers), 2000.
"What Explains the Changing Spreads on Emerging Market Debt?" (with Ashoka Mody), preliminary draft, February 1998. Revised version appears in Sebastian Edwards (ed.), The Economics of International Capital Flows (University of Chicago Press, 2000).
"Staying Afloat When the Wind Shifts: External Factors and Emerging-Market Banking Crises," (with Andrew K. Rose). NBER Working Paper No. 6370, January 1998. A revised version is published in Guillermo Calvo, Rudiger Dornbusch and Maurice Obstfeld (eds), Trade, Capital Mobility, and Growth: Essays in Honor of Robert Mundell (2000).
"The Rise and Fall of a Barbarous Relic: The Role of Gold in the International Monetary System" (with Michael Bordo), preliminary draft, January 1998. Click for figures 1-5, tables 1-8; appendices 1, 2 and 3; and appendix figures. Revised version appears in Guillermo Calvo, Rudiger Dornbusch and Maurice Obstfeld (eds.), Money, Capital Mobility, and Trade: Essays in Honor of Robert Mundell (2000).
"Lending Booms, Reserves and the Sustainability of Short-Term Debt: Inferences from the Pricing of Syndicated Bank Loans" (with Ashoka Mody), 1998. Prepared for the Interamerican Seminar on Macroeconomics, Rio de Janeiro, 3 - 5 December 1998. A revised version appears in the Journal of Development Economics (2000).
"The International Monetary Fund in the Wake of the Asian Crisis," preliminary version of a paper presented to the Monash University/Australian National University Conference on the Asian Crisis, Melbourne, 17 - 18 December 1998. Revised version appears in The Asian Financial System and the Architecture of Global Finance edited by Greg Noble and John Ravenhill (Oxford University Press 2000).
"Interest Rates in the North and Capital Flows to the South: Is There a Missing Link?" (with Ashoka Mody), preliminary draft, June 1998. A revised version appears in International Finance 1, October 1998.
"International Economic Policy in the Wake of the Asian Crisis," preliminary draft, August 1998. Revised version appears in Restructuring the Korean Financial Market in a Global Economy edited by Lee-Jay Cho, Yoonhyung Kim, and Inseok Shin (Korean Development Institution 2002).
"Exchange Rate Stability and Financial Stability," preliminary draft, June 1998. Revised version appears in Open Economies Review, Supplement, 1998.
"Exchange Rate Volatility and Intervention: Implications of the Theory of Optimum Currency Areas" (with Tamim Bayoumi), preliminary draft. Click for figure 1 and tables 1-3. Revised version published in Journal of International Economics, 1998.
"Does Mercosur Need a Single Currency?" prepared for the IPEA conference ALCA and MERCOSUL: The Brazilian Economy and the Processes of Subregional and Hemispheric Integration, Brazilia, 5 - 6 October 1998. Click for figures 1, 2, 3, 4, A.1 and A.2; and tables 1, 2, 3, A.1, A.2 and A.3.
"Currency Crises and Unemployment: Sterling in 1931" (with Olivier Jeanne), preliminary draft, 1998. Revised version appears in Paul Krugman (ed.), Currency Crises (University of Chicago Press 2000).
"The Stability Pact: More Than a Minor Nuisance?" (with Charles Wyplosz), preliminary draft, October 1997. Revised version published in Economic Policy 26, Spring 1998. Also appears in David Begg, Juergen von Hagen, Charles Wyplosz and Klaus Zimmermann (eds), EMU: Propsects and Challenges for the Euro (1998).
"Managing Financial Crises in Emerging Markets" (with Richard Portes), preliminary draft, August 1997. Revised version published in Federal Reserve Bank of Kansas City, Managing Financial Instability (1998).
"The Gold Standard and the Great Depression" (with Peter Temin), NBER Working Paper No. 6060, 1997. Revised version published in Contemporary European History, July 2000.
"European Monetary Unification: A Tour d'Horizon," preliminary draft, December 1997. Revised version published in Oxford Review of Economic Policy, Autumn 1998.
"The Euro as a Reserve Currency," preliminary draft, November 1997. Click for figures 1-4 and tables 1-5. Revised version appears in The Journal of the Japanese and International Economies, December 1998.
"Economics and Culture in the Writing of Financial History," preliminary draft, May 1997. Revised version appears in Gerald Feldman, Philip Cottrell and Jaime Reis (eds), Finance and the Making of Modern Capitalism.
"Dental Hygiene and Nuclear War: How International Relations Look from Economics," preliminary draft, December 1997. Revised version appears in International Organization, Autumn 1997 and in Peter Katzenstein, Robert Keohane, and Stephen Krasner (eds), Exploration and Contestation in the Study of World Policies, 1999. EP Conference on Recovery from the Asian Crisis, Seoul, 18 - 19 May 2001.
"The Baring Crisis in a Mexican Mirror," preliminary draft, February 1997. Click for figures 1, 2, 3, 4, 5, 6, 7, 8 and 9. Revised version appears in International Political Science Review 20, August 1999.
"Unemployment and the Structure of Labor Markets: The Long View." A revised version appears in Herbert Giersch (ed.), Unemployment: A Problem in Europe (1996).
"The Role of History in Bilateral Trade Flows" (with Douglas Irwin), preliminary draft, May 1996. Revised version published in Jeffrey Frankel (ed.), The Regionalization of the World Economy (University of Chicago Press, 1998).
"Saving Europe's Automatic Stabilizers," CIDER WP #C96-082, November 1996. Revised version published in National Institute of Economic and Social Research (NIESR) Review, December 1996. Also appears in Mark Baimbridge, Brian Burkitt, and Philip Whyman (eds.), The Impact of the Euro: Debating Britain's Future.
"On the Links Between Monetary and Political Integration," CIDER WP #C96-077, December 1996. A revised version was published in the Swiss Political Science Review, Spring 1997.
"Is Asia an Optimum Currency Area? Can It Become One? Regional, Global and Historical Perspectives on Asian Monetary Relations" (with Tamim Bayoumi), CIDER WP C96-081, December 1996. Revised version published in Exchange Rate Policies in Emerging Asian Countries (Routledge Studies in the Growth Economies of Asia, 13) edited by Stefan Collignon, Jean Pisani-Ferry, and Yung Chul Park (Routledge 1999).
"Hegemonic Stability Theory and Economic Analysis: Reflections on Financial Instability and the Need for an International Lender of Last Resort", CIDER WP C96-080, October 1996. A revised version was published in the Mershon International Studies Review (1998).
"Ever Closer to Heaven? An Optimum-Currency Area Index for European Countries" (with Tamim Bayoumi), CIDER WP C96-078, August 1996. Revised version appeared in European Economic Review and republished in Paul de Grauwe (ed.), The Politial Economy of Monetary Union.
"European Monetary Unification and International Monetary Cooperation" (with Fabio Ghironi), preliminary draft, December 1996. Revised version published in Politique Etrangere, 1997 (in French). Expanded version in Barry Eichengreen (ed.), Transatlantic Economic Relations in the Post-Cold War Era, Council on Foreign Relations Press, 1998.
"EMU: An Outsider's Perspective," CIDER WP C96-079, October 1996. A revised verion appears in The Irish Banking Review, 1997.
"Contagious Currency Crises" (with Andrew K. Rose and Charles Wyplosz), NBER WP 5681; CEPR DP 1453, July 1996. Revised March 1997. Part of this paper was published in the Scandinavian Journal of Economics 98, 1996.
"Contending with Capital Flows: What is Different About the 1990s?" (with Albert Fishlow), Occasional Paper, Council on Foreign Relations, 1996. Click for figures 1, 2, 3, 4, 5, 6, 7, 8 and 9; and tables 1 and 2. Revised and expanded version published in Miles Kahler (ed.), Capital Flows and Financial Crises, Cornell University Press, 1998.
"Is Regionalism Simply a Diversion? Evidence from the EU and EFTA" (with Tamim Bayoumi), preliminary draft, December 1995. Revised version published in Takatoshi Ito and Anne Krueger (eds.), Regionalism versus Multilateral Trade Arrangements (University of Chicago Press, 1998).
"Two Cases for Sand in the Wheels of International Finance" (with Charles Wyplosz and James Tobin), preliminary draft, May 1994. Revised version published in Economic Journal 105, January 1995.
"Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System" (with Andrew K. Rose and Charles Wyplosz), preliminary draft, October 1994. Revised version published in Matthew Canzoneri, Wilfred Ethier and Vittorio Grilli (eds.), The New Trans-Atlantic Economy (Cambridge University Press, 1996). Also available as NBER Working Paper No. 4898 and CEPR Discussion Paper No. 1060.
"Financing Infrastructure in Developing Countries: Lessons from the Railway Age", Economics Department WP 94-230, October 1994. A revised version was published in Ashoka Mody (ed.), Infrastructure Delivery: Private Initiative and the Public Good, 1996.
"Debt Deflation and Financial Instability: Two Historical Perspectives" (with Richard Grossman), preliminary draft, June 1994. Click for figures 1-6 and 7-11; and tables 1-4. Revised version published in Forrest Capie and Geoffrey Wood (eds.), Asset Prices and the Real Economy (Palgrave Macmillan 1997).
“Blocs, Zones and Bands: International Monetary History in Light of Recent Theoretical Developments” (with Marc Flandreau), Scottish Journal of Economics, 1996. “Unemployment and the Structure of Labor Markets: The Long View,” in Herbert Giersch (ed.), Fighting Europe’s Unemployment in the 1990s (Springer-Verlag 1996). “Solving Maastricht’s Fiscal Problem” (with Juergen von Hagen and Ian Harden), in Richard Herr and Steven Weber (eds), European Integration and American Federalism: A Comparative Perspective, UC Berkeley: Institute for International and Area Studies (1996). “Sterling in Decline Again: The 1931 and 1992 Crises Compared” (with Chang-Tai Hsieh), in Richard Tilly and Paul Welfens (eds), European Economic Integration as a Challenge to Industry and Government (Springer-Verlag 1996). “Speculative Attacks on Pegged Exchange Rates: An Empirical Exploration with Special Reference to the European Monetary System” (with Andrew Rose and Charles Wyplosz), in Matthew Canzoneri, William Ethier and Vittorio Grilli (eds), The New Transatlantic Economy (Cambridge University Press 1996). “Taxing International Financial Transactions to Improve the Operation of the International Monetary System” (with Charles Wyplosz), in Inge Kaul et al. (eds), The Tobin Tax (Oxford University Press 1996). “Fiscal Restrictions and Monetary Union: Rationales, Repercussions, Reforms” (with Juergen von Hagen), Empirica, 1996. Also appears in Robert Holzmann (ed), Maastrict: Monetary Constitution Without a Fiscal Constitution? (Nomos Veragsgesellschaft 1996). “Is There a Safe Passage to EMU: Evidence on Capital Controls and a Proposal” (with Andrew K. Rose and Charles Wyplosz), in Jeffrey Frankel and Alberto Giovannini (eds), The Microstructure of Foreign Exchange Markets (University of Chicago Press 1996). “Can Foreign Aid Accelerate Stabilization?” (with Alessandra Casella), Economic Journal (May 1996). “The Geography of the Gold Standard” (with Marc Flandreau), in Jorge Braga de Macedo, Barry Eichengreen and Jaime Reis (eds), Currency Convertibility: The Gold Standard and Beyond (Routledge 1996). “Federalism, Fiscal Restraints, and European Monetary Union” (with Juergen von Hagen), American Economic Review (May 1996). Reprinted in Revue d’economie financiere (1998). (In French.) “European Monetary Unification: The Challenges Ahead” (with Fabio Ghironi), in Francisco Torres (ed), Monetary Reform in Europe (Catholic University Press of Lisbon 1996). “Institutions and Economic Growth: Europe after World War II,” in N.F.R. Crafts and Gianni Toniolo (eds), Economic Growth in Europe Since 1945 (Cambridge University Press 1996). “International Economics and Domestic Politics: Notes on the 1920s” (with Beth Simmons), in Charles Feinstein (ed), Banking, Currency and Finance in Europe Between the Wars (Oxford University Press 1995). “History and Reform of the International Monetary System,” Economia e Sociedade (1995). “Economic Regionalism: Evidence From Two 20th Century Episodes” (with Jeffrey Frankel), in J. Kim (ed), Regionalism in the World Economy (East-West Center 1995). Abridged version in North American Journal of Economics and Finance (1996). Reprinted in Lee-Jay Cho and Yoon Hyang Kim (eds), Hedging Bets in Growth in a Globalizing Industrial Order: Lessons for the Asian NIEs (Korean Development Institute 1998). “Exchange Rate Commitments and Central Bank Cooperation: The Classical and Interwar Gold Standards Compared,” Financial History Review, 1995. “Exchange Market Mayhem: The Antecedents and Aftermath of Speculative Attacks” (with Andrew Rose and Charles Wyplosz), Economic Policy, 1995. “Mainsprings of Postwar Europe’s Growth,” in Barry Eichengreen (ed), Europe's Postwar Recovery (Cambridge University Press, 1995). “The European Payments Union: An Efficient Mechanism for Rebuilding Europe's Trade?” in Barry Eichengreen (ed), Europe's Postwar Recovery (Cambridge University Press, 1995). “Perspectives on the History of the International Monetary System,” in Eli D'Aura, Ennio Di Nolfo and Renato Grispo (eds), Essays in Honor of Luigi De Rosa (1995). “The Endogeneity of Exchange Rate Regimes,” in Peter Kenen (ed), Understanding Interdependence: The Macroeconomics of the Open Economy (Princeton University Press, 1995). “L’organisation de l’economie internationale depuis Bretton Woods: un panorama,” in Michel Aglietta et al. (ed), Cinquante Ans Aprs Bretton Woods, CEPII Collection, 1995. “Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization” (with Tamim Bayoumi), Staff Papers, 1995. “Two Cases for Sand in the Wheels of International Finance” (with James Tobin and Charles Wyplosz), Economic Journal, 1995. Reprinted in Pensamiento Iberamericano, 1995. Also reprinted in Voix de la Cite, 2000. Also reprinted in Sylvester C.W. Eijffinger and Jan J.G. Lemmen, International Financial Integration (Edward Elgar, 2002). “Trade Blocs, Currency Blocs and the Reorientation of Trade in the 1930's” (with Douglas Irwin), Journal of International Economics, 1995. “The Bretton Woods System: Paradise Lost?” Revue d'economie financiere, 1994 (in French). English version appears in Barry Eichengreen and Marc Flandreau (eds), The Gold Standard in Theory and History, Second Edition (Routledge, 1997). “The Supply of Gold Under the Pre-1914 Gold Standard” (with Ian McLean), Economic History Review, 1994.