Maurice Obstfeld

Commodity Trade and International Risk Sharing

Imperfect Asset Substitutability and Monetary Policy under Fixed Exchange Rates

The Capitalization of Income Streams and the Effects of Open Market Policy under Fixed Exchange Rates

Macroeconomic Policy, Exchange-Rate Dynamics, and Optimal Asset Accumulation

Relative Prices, Employment, and the Exchange Rate in an Economy with Foresight

Can We Sterilize?

International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates

Intertemporal Price Speculation and the Optimal Current-Account Deficit

Capital Mobility in the World Economy

The Effectiveness of Foreign-Exchange Intervention

Inflation, Real Interest, and the Determinacy of Equilibrium in an Optimizing Framework

Capital Mobility and the Scope for Sterilization

Transitory Terms-of-Trade Shocks and the Current Account

Exchange-Rate Dynamics

Speculative Attack and the External Constraint in a Maximizing Model of the Balance of Payments

The Capital Inflows Problem Revisited

Capital Flows, the Current Account, and the Real Exchange Rate

Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes

How Integrated are World Capital Markets?

International Finance

Competitiveness, Realignment, and Speculation

Fiscal Deficits and Relative Prices in a Growing World Economy

Exchange Rate Dynamics Under Stochastic Regime Shifts

Two-Step Two-Stage Least Squares Estimation in Models with Rational Expectations

Exchange-Rate Dynamics and Optimal Asset Accumulation Revisited

Evaluating Risky Consumption Paths

Sterilization and Offsetting Capital Movements

Exchange-Rate Expectations and Nominal Interest Differentials

Intermediate Imports, the Terms of Trade, and the Dynamics of the Exchange Rate and Current Account

Capital Mobility and Devaluation in an Optimizing Model with Rational Expectations

Aggregate Spending and the Terms of Trade

Speculative Hyperinflations in Maximizing Models

Exchange Rates, Inflation and the Sterilization Problem

Balance-of-Payments Crises and Devaluation

Exchange Rate Dynamics With Sluggish Prices Under Alternative Price-Adjustment Rules

Capital Controls, The Dual Exchange Rate, and Devaluation

Rational and Self-Fulfilling Balance-of-Payments Crises

Ruling Out Nonstationary Speculative Bubbles

Peso Problems, Bubbles, and Risk in the Empirical Assessment of Exchange-Rate Behavior

Stochastic Process Switching