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Conference Paper
Dollars and deficits: where do we go from here?
Journal Article
Exchange rate arrangements in the Pacific Basin
Journal Article
Exchange-rate policies and inflation: theory and evidence
Journal Article
The role of external shocks in the Asian financial crisis
Within a few months in late 1997, a number of East Asian countries were hit by financial and exchange rate crises. Much analysis of this episode has emphasized either internal financial weaknesses or a process of contagion that converted a financial problem in one country into a regionwide crisis. The author of this article explores an alternative possibility: that some external shock common to all these countries triggered the crisis. The Chinese devaluation of 1994 and the prolonged Japanese recession are sometimes cited as factors, but the article concludes that they were probably only ...
Conference Paper
Budget and external deficits: not twins but the same family
Conference Paper
Financial links around the Pacific Rim, 1982-1992