Capital Flows & Debt

INTERNATIONAL CAPITAL FLOWS/DEBT

Original Sin and The Great Depression (Journal of International Economics - with Michael Bordo) (open access!)

The Economic Consequences of the 1953 London Debt Agreement (2019) (with Gregori Galofré-Vilà, Martin McKee, and David Stuckler) European Review of Economic History

Surplus Reversals in Large Nations: The Cases of France and Great Britain in the Interwar Period for a Vox EU ebook on Rebalancing the Global economy: A Primer for Policymaking

Sudden Stops: Determinants and Output Effects in the First Era of Globalization, 1880-1913 (2010) (with Michael Bordo and Alberto Cavallo) Journal of Development Economics.  

Foreign Capital, Financial Crises and Incomes in the First Era of Globalization (2011) (with Michael Bordo) European Review of Economic History

 Economic Growth and Foreign Currency Debt A Long-Run Comparative Perspective (2010) (with Michael D. Bordo and David Stuckler) Journal of International Money and Finance 

Identifying the Effects of an Exchange Rate Depreciation on Country Risk: Evidence from a Natural Experiment (2009) (with Michael D. Bordo and Marc Weidenmier) Journal of International Money and Finance 

International Risk Sharing Across the Twentieth Century (with David Jacks)  

Losing our Marbles in the New Century? The Great Rebalancing in Historical Perspective with Alan M. Taylor (2008) conference volume from the Federal Reserve Bank of Boston conference on Global Imbalances held in Chatham, Mass. June 2006. (also NBER working paper 12580, CEPR discussion paper 5917)

How ‘Original Sin’ Was Overcome: The Evolution of External Debt Denominated in Domestic Currencies in the United States and the British Dominions 1800-2000” (2005) with Michael Bordo and Angela Redish in Other People’s Money: Debt Denomination and Financial Instability in Emerging Market Economies. Barry Eichengreen and Ricardo Hausmann eds. pp. 122-153. Chicago: University of Chicago Press.