Recent Submissions

  • Capital Controls: Myth and Reality, A Portfolio Balance Approach to Capital Controls 

    Magud, Nicolas; Reinhart, Carmen M.; Rogoff, Kenneth S. (University of Oregon, Dept of Economics, 2005-11)
    The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant ...
  • Capital Controls: An Evaluation 

    Magud, Nicolas; Reinhart, Carmen M. (University of Oregon, Dept of Economics, 2005-06-02)
    The literature on capital controls has (at least) four very serious apples-to-oranges problems: (i) There is no unified theoretical framework to analyze the macroeconomic consequences of controls; (ii) there is significant ...
  • On Asymmetric Business Cycles and the Effectiveness of Counter-Cyclical Fiscal Policies 

    Magud, Nicolas (University of Oregon, Dept of Economics, 2005-05)
    In the presence of informational frictions and uncertainty, an investment model is developed to capture the asymmetric dynamics of business cycles. When affected by a negative shock, the economy responds differently than ...
  • Exchange Rate Regime Choice and Country Characteristics: an Empirical Investigation into the Role of Openness 

    Magud, Nicolas (University of Oregon, Dept of Economics, 2004-10-20)
    In choosing an exchange rate regime for a small open economy, the common wisdom (Friedman (1953), Meade (1950)) calls for a °oating regime to outperform a peg because of the ability of the former to cope with relative price ...
  • Currency Mismatch, Openness and Exchange Rate Regime Choice 

    Magud, Nicolas (University of Oregon, Dept of Economics, 2004-09-01)
    The paper analyzes the choice of an exchange rate regime for a small open economy indebted in foreign currency, incorporating the ¯nancial accelerator. Conventional wisdom suggests that floating regimes should insulate the ...