Publications
An Equilibrium Model of "Global Imbalances" and Low Interest Rates
Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas
American Economic Review 2008, 98:1, pgs 358-393.
On the Macroeconomics of Asset Shortages
The Role of Money: Money and Monetary Policy in the Twenty-First Century
The Fourth European Central Banking Conference 9-10 November 2006, Andreas Beyer and Lucrezia Reichlin, editors. Pages 272-283.
Zombie Lending and Depressed Restructuring in Japan
with Takeo Hoshi and Anil Kashyap
January 2008, forthcoming: American Economic Review
Price Stickiness in Ss Models: New Interpretations of Old Results
Ricardo J. Caballero and
Eduardo M.R.A. Engel
Journal of Monetary Economics, 54 (2007).
Speculative
Growth: Hints from the U.S. Economy
Ricardo J. Caballero, Emmanuel Farhi
and Mohamad Hammour
September 2006, American Economic Review 96(4), 1159-1192
Hedging Sudden Stops and Precautionary Contractions
Ricardo J. Caballero and
Stavros Panageas
Journal of Development
Economics, 85 (2008) pp 28-57
Bubbles
and Capital Flow Volatility: Causes and Risk Management
Ricardo J.
Caballero and Arvind Krishnamurthy
January 2006, Journal Monetary of
Economics, 53(1), pp. 35-53.
Fear
of Sudden Stops: Lessons from Australia and Chile
Ricardo J. Caballero,
Kevin Cowan and Jonathan Kearns
The Journal of Policy Reform, Vol. 8, No. 4, 313-354, December 2005
Exchange Rate Volatility and
the Credit Channel in Emerging Markets: A Vertical Perspective
Ricardo J.
Caballero and Arvind Krishnamurthy
May 2005, International Journal of Central
Banking(1)1, 207-245.
The Cost of Recessions
Revisted: A Reverse-Liquidationist View
Ricardo J. Caballero and M.
Hammour
April 2005, Review of Economic Studies 72, 313-341
Smoothing Sudden
Stops
Ricardo J. Caballero and A. Krishnamurthy
November 2004, Journal
of Economic Theory 119(1), 104-127.
A Comment
on the Economics of Labor Adjustment: Mind the Gap: Reply
Ricardo J.
Caballero and Eduardo M. R. A. Engel
September 2004, American Economic Review
94(4), 1238-1244
Flexibilidad
Microeconomica en America Latina
Ricardo J. Caballero
August 2004,
Economia, 7, 5-26.
Comments on: Crisis Resolution, Next
Steps
Ricardo Caballero
2004, Brooking Trade Forum, 338-342
The Future
of the IMF
Ricardo J. Caballero
May 2003, American Economic Review,
Papers and Proceeding, 93(2), 31-38.
Excessive Dollar
Debt: Financial Development and Underinsurance
Ricardo Caballero and A.
Krishnamurthy
April 2003, Journal of Finance 58(2), 867-893.
On
the International Financial Architecture: Insuring Emerging
Markets
Ricardo Caballero
March 2003, The Capco Institute Journal.
A Dual
Liquidity Model of Emerging Markets
Ricardo Caballero and Arvind
Krishnamurphy
May 2002, American Economic Review, Papers and Proceedings,
92(2), 33-37.
International
and Domestic Collateral Constraints in a Model of Emerging Market
Crises
Ricardo Caballero and A. Krishnamurthy
December 2001, Journal
of Monetary Economics 48(3), 513-548
Macroeconomic
Volatility in Latin America: A View and Three Case Studies (Economia 1(1), Fall
2000, 31-108)
Ricardo J. Caballero
June 2001, Reprinted in Estudiosde
Economia, 28 (1) 5-52.
Creative Destruction and Development: Institutions, Crises, and Restructuring
Annual World Bank Conference on Development Economics, April 2000, pp. 213-241
Explaining Investment
Dynamics in U.S. Manufacturing: A Generalized(S,s) Approach
Ricardo
Caballero and Eduardo M. R. A. Engel
July 1999, Econometrica 67(4), 783-826.
The
Macroeconomics of Specificity
Ricardo Caballero and M. Hammour
August
1998, Journal of Political Economy 106(4) 724-767.
Jobless Growth:
Appropriability, Factor Substitution and Unemployment
Ricardo Caballero
and M. Hammour
June 1998, Carnegie-Rochester Conference Series on Public
Policy 48, 51-94.
Aggregate
Employment Dynamics: Building from Microeconomics
Ricardo Caballero,
Eduardo M.R.A. Engel and J. Haltiwanger
March 1997, American Economic Review
87(1), 115-137.
On the
Timing and Efficiency of Creative Destruction
Ricardo Caballero and M.
Hammour
August 1996, Quarterly Journal of Economics 446(3), 805-852.
The
Fundamental Transformation in Macroeconomics
Ricardo Caballero and
Mohamad Hammour
May 1996, American Economic Review, Papers and Proceedings
86(2).
On
the Ills of Adjustment
Ricardo Caballero and M. Hammour
1996, Journal
of Development Economics 51, 161-192.
Near
Rationality, Heterogeneity and Aggregate Consumption
Ricardo
Caballero
February 1995, Journal of Money, Credit and Banking 27(1), 29-48.
Plant
Level Adjustment and Aggregate Investment Dynamics
Ricardo Caballero, E.
Engel and J. Haltiwanger
1995, Brookings Papers on Economic Activity 2 ,
Macroeconomics, 1-54.
The
Cleansing Effect of Recessions
Ricardo Caballero and Mohamad
Hammour
December 1994, American Economic Review 84(5), 1350-1368.
Customer
and Supplier Driven Externalities
Ricardo Caballero, E. Bartelsmanand and
R. Lyons
September 1994, American Economic Review 84(4), 1075-1084.
Notes on the Theory
and Evidence on Aggregate Purchases of Durable Goods
Ricardo
Caballero
July 1994, Oxford Review of Economic Policy 10(2), 107-117.
Cross-Sectional Efficiency
and Labor Hoarding in a Matching Model of Unemployment
Ricardo Caballero
and G. Bertola
July 1994, Review of Economic Studies 61(3) 435-456.
Irreversibility and
Aggregate Investment
Ricardo Caballero and G. Bertola
April 1994,
Review of Economic Studies 61(2), 223-246.
Small
Sample Bias and Adjustment Costs
Ricardo Caballero
February 1994,
Review of Economics and Statistics 76(1), 52-58.
Comments on: A
Reconsideration of Investment Behavior Using Tax Reforms as Natural
Experiments
Ricardo Caballero
1994, Brookings Papers on Economic
Activity 2 , Macroeconomics, 62-68.
Demand,
Unemployment and Growth: A Comment
Ricardo Caballero and R.K.
Lyons
1993, European Economic Review
Microeconomic
Rigidities and Aggregate Price Dynamics
Ricardo J. Caballero and Eduardo
M.R.A. Engel
1993, European Economic Review 37(4), 697-717.
Uncertainty, Investment, and
Industry Evolution
Ricardo Caballero and R. Pindyck
1993,
International Economic Review 37(3), 641-662.
Review
of Booms and Recessions by R.E. Hall
Ricardo Caballero
December 1992, Journal
of Economic Literature 30(4), 2146-2147.
Microeconomic
Adjustment Hazards and Aggregate Dynamics
Ricardo Caballero and E.
Engel
May 1993, Quarterly Journal of Economics 433 (2), 359-383.
Durable Goods: An
Explanation for their Slow Adjustment
Ricardo Caballero
April 1993,
Journal of Political Economy 101(2), 351-384.
Heterogeneity and Output
Fluctuations in a Dynamic Menu Costs Model
Ricardo Caballero and E.
Engel
January 1993, Review of Economic Studies 60(1), 95-120.
A Fallacy
of Composition
Ricardo Caballero
December 1992, American Economic
Review 82(5), 1279-1292.
Target
Zones and Realignments
Ricardo Caballero and G. Bertola
June 1992,
American Economic Review 82(3), 520-536.
External Effects in
U.S. Procyclical Productivity
Ricardo Caballero and R.K. Lyons
April 1992, Journal of Monetary Economics 29(2), 209-225.
Dynamic (S,s) Economies
(Reprinted in Optimal Pricing, Inflation, & Cost of Price Adjustment, E.
Sheshinski and Y. Weiss - JSTOR Subscribers Only (eds) Cambridge, MA: The MIT
Press)
Ricardo Caballero and Eduardo Engel
November 1991, Econometrica
59(6), 1659-1686.
Earnings
Uncertainty and Aggregate Wealth Accumulation
Ricardo
Caballero
September 1991, American Economic Review 81(4), 859-871.
On the Sign
of the Investment Uncertainty Relationship
Ricardo Caballero
March
1991, American Economic Review 81(1), 279-288.
Internal
Versus External Economies in European Industry
Ricardo Caballero and R.K.
Lyons
August 1990, European Economic Review, 34(4), 805-826.
Consumption Puzzles
and Precautionary Savings
Ricardo Caballero
January 1990, Journal of
Monetary Economics 25(1), 113-136.
Expenditure
on Durable Goods: A Case for Slow Adjustment
Ricardo Caballero
1990,
Quarterly Journal of Economics 422(3), 727-744(JSTOR Subscribers Only).
The Effect of Real
Exchange Rate Uncertainty on Exports: Empirical Evidence
Ricardo
Caballero and V. Corbo
May 1989, WorldBank Economic Review 3(2), 263-278.
Análisis de
la Balanza Comercial: Un Enfoque de Equilibrio General
Ricardo Caballero
and V. Corbo
December 1986, Cuadernos de Economia 70(23), 285-313.