Research

Working Papers

  • The International Aspects of Macroprudential Policy (2020). Forthcoming in Annual Review of Economics (2021), Vol. 13.

Available as NBER Working Paper 27698.
Available as MIT Sloan Research Paper 6167-20.

Also available as MIT-Sloan Research Paper 6101-20
Click here for the replication folder with underlying data, code and output files
Selected press mentions: Central Banking (06/04/2020)

Click here for access to the dataset on macroprudential FX regulations
Click here for a folder with information on the code and data used for the paper
Also availabile as NBER Working Paper 25083.
Also available as MIT-Sloan Research Paper 5293-18.
Also available as CEPR Discussion Paper No. DP12766.
Highlighted in NBER Digest, Dec 2018.

Click here for the underlying capital flow data (October 2019).
Click here for the updated list of episodes (October 2019).
Click here to access the control variables used in the analysis (October 2019).
Click here to access more details on the variable definitions and sources (February 2020).
Also available as an earlier working paper in November 2019.

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Published Papers

Please download for personal use only. Contact the copyright holder to request permission to make additional copies.

Click here for the data replication files (07/20/20)
Earlier versions available:

CEPR Discussion Paper No. DP15242 (Sept 2020)
NBER  Working Paper No. 27746 (Aug 2020)
MIT Sloan Research Paper No. 5522-18 (Sept 2018)
Bank of England External MPC Unit Discussion Paper No. 50 (June 2017), a longer version called, "Shocks versus Structure: Explaining Differences in Exchange Rate Pass-Through across Countries and Time."

Also available as MIT-Sloan Working Paper 5893-19.
Also available as NBER Working Paper 26496.
Selected press mentions: Economist (10/10/19), Economist (06/30/18), Central Banking (09/23/19), Axios (09/06/19), Brookings Blog (09/05/19).
Click here for directions on how to replicate the results in this paper, here for the source data and here for the program code.

  Download the zip file with code and data.

Also available as: CEPR Discussion Paper No. DP12652 (Jan 2018) and  Bank of England External MPC Unit Discussion Paper No. 49 (June 2017)
Selected press mentions, Central Banking (6/20/17), Bloomberg (06/19/17)

Also available as: NBER Working Paper No. 24773 (July 2018), CEPR Discussion Paper No. DP13037 (July 2018), MIT-Sloan Working Paper #5149-15 (Nov 2015) and Bank of England External MPC Unit Discussion Paper No. 43 (Nov 2015).
Click here for online Appendix
Click here for data and replication files
Selected press mentions, Moving Beyond the Monetary Policy Rule of Thumb (2018), Financial Times (July 8, 2016), Economist (Sept. 23, 2016)

Also available as MIT-Sloan Research paper #5163-16Bank of England External MPC Unit Discussion Paper No. 44 and NBER Working Paper #22307.

Older version available as: MIT-Sloan Research Paper 5167-16External MPC Unit Discussion Paper 46, and NBER Working paper #22741.
Royal Economic Society non-technical highlights: Current Account Deficits: Knowing When to Act.
Dataset for paper.

Earlier versions available as MIT-Sloan Research Paper #4962-12 and NBER Working Paper #18052.
Selected Press Mentions: The Economist (10/06/12)Central Banking (08/13/12)Financial Times (01/23/12).

Older version available as: MIT-Sloan Working Paper 5061-13 and NBER Working Paper #20860

Older version available as: MIT-Sloan Working Paper 5062-13 and NBER Working Paper #20987.

Older version available as: MIT-Sloan Working Paper 4979-12

Older version available as: NBER Working Paper #18329.

Selected Press Mentions: Bloomberg (08/31/12)Reuters (08/31/12)Wall Street Journal (08/31/12)Financial Times (08/31/12)The Economist (06/16/12).

Older version accessible as MIT-Sloan Working paper #4927-11 or NBER Working Paper #17351.
Download the dataset of episodes.

Link to older working paper.
Internet Appendix with links to documents.
Selected Press Mentions: Boston Globe (12/01/17), The Economist (04/28/11)Washington Post (04/27/11)Bloomberg Business Week (03/17/11)NY Times (06/05/09).

Lead Article.
Link to working paper.
Press mentions: Economist (10/03/08)NBER Digest (08/08)Wall Street Journal (06/23/08), US News and World Report, and CNBC Morning Call.

Runner-up for Michael Brennan Award for Best Paper Published in 2008.

Available in NBER working paper form.

Dataset Information (pdf)
Factor Model Dataset (zipped stata)
Bilateral Linkage Model Dataset (zipped stata)

(Only available in NBER working paper form.)

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