In this paper we study whether policy makers should wait to intervene until a financial crisis strikes or rather act in a preemptive manner. We study this question in a relatively simple dynamic stochastic general equilibrium model in which crises are endogenous events induced by the presence of...

Emerging economies are fighting COVID-19 and the economic sudden stop imposed by lockdown policies. Even before COVID-19 took root in emerging economies, however, investors had already started to flee these markets–to a much greater extent than they had at the onset of the 2008 global...

Emerging economies are fighting COVID-19 and the economic sudden stop imposed by the containment and lockdown policies, in the same way as advanced economies. However, emerging markets also face large and rapid capital outflows as a result of the pandemic. This column argues that credible...

Emerging economies are fighting COVID-19 and the economic sudden stop imposed by the containment and lockdown policies, in the same way as advanced economies. However, emerging markets also face large and rapid capital outflows as a result of the pandemic. This column argues that credible...

Presentation to the Missouri Bankers Association Senior Bank Management Conference, Acapulco, Mexico - Jan. 15, 2001

Presentation at the University of Missouri-Columbia - Nov. 4, 1999

Presentation at the HM Treasury/GES Conference, London, Nov. 30, 2005

Presentation to the Reflections on Monetary Policy: 25 Years After October 1979 a conference held at the Federal Reserve Bank of St. Louis, St. Louis, Mo., Oct. 8, 2004