Mailing Address:
University of California, Berkeley
Department of Economics
508-1 Evans Hall #3880
Berkeley, CA 94720-3880

Tel No. (510) 643-9646
Fax No. (510) 642-6615

E-mail Address:

Courses

• Economics 202A, Fall 2008
• Economics 280C, Spring 2008
• Economics 281, Spring 2008
• Economics 202A, Fall 2007
• Economics 280C, Spring 2007
• Economics 281, Spring 2007
• Economics 182, Spring 2006
• Economics 280C, Spring 2006
• Economics 281, Spring 2006
• Economics 182, Spring 2005
• Economics 280C, Spring 2005
• Economics 280C, Spring 2004
• Economics 281, Spring 2004

Recent Papers

• "International Finance and Growth in Developing Countries: What Have We Learned?"(August 2008)
• "Financial Stability, the Trilemma, and International Reserves"(with Jay C. Shambaugh and Alan M. Taylor), July 2008.
• "Implications for the Yen of Japanese Current Account Adjustment" (December 2006)
• "International Risk Sharing and the Costs of Trade" (the Ohlin lectures, May 2007)
• "Pricing-to-Market, the Interest-Rate Rule, and the Exchange Rate", October 2006.
• "Reflections upon Rereading 'The Capital Myth'", August 2005.
• "The Renminbi's Dollar Peg at the Crossroads", July 2006; Revised December 2007.
• "The Unsustainable US Current Account Position Revisited" (with Kenneth Rogoff), October 2004; Revised November 2005.
• "America's Deficit, the World's Problem", September 2005.
• "Global Current Account Imbalances and Exchange Rate Adjustments", (with Kenneth Rogoff), May 2005.
• "Monetary Policy in the Open Economy Revisited: The Case for Exchange-Rate Flexibility Restored", (with Margarida Duarte), Revised February 2007.
• "Expectations and Anti-Deflation Credibility in a Liquidity Trap: Contribution to a Panel Discussion", July 2004.
• "External Adjustment", reprinted from Review of World Economics, December 2004.
• "Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies" , Revised October 2004.
• "Monetary Sovereignty, Exchange Rates, and Capital Controls: The Trilemma in the Interwar Period"(with Jay Shambaugh and Alan M. Taylor), April 2004.
• "Monetary and Fiscal Remedies for Deflation" (with Alan J. Auerbach), January 2004.
• "The Case for Open-Market Purchases in a Liquidity Trap" (joint with Alan J. Auerbach), revised December 2004.
• "The Trilemma in History: Tradeoffs among Exchange Rates, Monetary Policies, and Capital Mobility", (with Jay C. Shambaugh and Alan M. Taylor), revised March 2004.
• "Sovereign Risk, Credibility and the Gold Standard: 1870-1913 versus 1925-31" (with Alan M. Taylor), January 2003.
• "Exchange Rates and Adjustment: Perspectives from the New Open Economy Macroeconomics", June 2002.
• "Saving, Investment, and Gold: A Reassessment of Historical Current Account Data" (with Matthew T. Jones), 2001.
• "Global Implications of Self-Oriented National Monetary Rules" (with Kenneth Rogoff), June 2001.
• "International Macroeconomics: Beyond the Mundell-Fleming Model," December 2000.
• "Perspectives on OECD Economic Integration: Implications for US Current Account Adjustment" (with Kenneth Rogoff), 2000.
• "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?" (with Kenneth Rogoff), 2000.
• "New Directions for Stochastic Open Economy Models" (with Kenneth Rogoff), 2000.
• "Risk and Exchange Rates" (with Kenneth Rogoff), February 2001.
• "EMU: Ready, or Not?" Figure 1, Figure 2, Figure 3 Figure 4, and Figure 5. The data for Figure 2 and the data for Figures 1, 4, and 5 are also downloadable as Quattro Pro files.
• "The Global Capital Market: Benefactor or Menace?", 1998. Table 1 and Figure 1.

Books and Other Selected Publications

• Global Capital Markets: Integration, Crisis, and Growth, with Alan M. Taylor.

Jeffrey G. Williamson's review of Global Capital Markets
• Globalization and Macroeconomics, Fall 2000.
• Money, Capital Mobility, and Trade: Essays in Honor of Robert Mundell, with Guillermo A. Calvo and Rudi Dornbusch.
• International Economics: Theory and Policy, with Paul Krugman.
• Foundations of International Macroeconomics, with Kenneth Rogoff.
• The Logic of Currency Crises, 1994 reprint.
• "Financial Shocks and Business Cycles: Lessons from Outside the United States," 1998 reprint.
• "Model Trending Real Exchange Rates," Center for International and Development Economics Research Working Paper, 1993.
• "Dynamic Optimization in Continuous-Time Economic Models (A Guide for the Perplexed)," 1992 working paper. This paper is in two parts. 1st part and 2nd part]

Data from Selected Publications

Data from "Regional Non-Adjustment and Fiscal Policy," with Giovanni Peri, Economic Policy, April 1998. The data files are contained in a downloadable zipped archive. All the files are formatted for Excel (.xls).

Data from "The Mirage of Fixed Exchange Rates," with Kenneth Rogoff, Journal of Economic Perspectives, Fall 1995. The data are in a single Quattro Pro file.

Data from "International Currency Experience: New Lessons and Lessons Relearned," Brookings Papers on Economic Activity, 1:1995. The data files are contained in a downloadable zipped archive.

Affiliations

Research Associate, National Bureau of Economic Research
Research Fellow, Centre for Economic Policy Research
International Research Fellow, Kiel Institute of World Economics