The Theory of Monetary Integration in the Aftermath of the Greek Financial Crisis, The Seventh Annual Macro Minghetti Lecture, Istituto Luigi Struzo, Rome, January 2019.
The Internationalization of Currencies: An Appraisal of the Japanese Yen (with Yusuru Ozeki), IMF Occasional Paper, No. 90, January 1992.
On the International Use of Currencies: The Case of the Deutsche Mark, Essays in International Finance, (Princeton University, International Finance Section of the Department of Economics; No. 181, March 1991). Reprinted in Functioning of the International Monetary System, edited by J. Frenkel and M. Goldstein (International Monetary Fund: Washington, D.C., 1996), pp. 806-50.
The Monetarists: The Making of the Chicago Monetary Tradition, 1927-1960, to be published in 2023 by the University of Chicago Press.
Greece’s Economic Performance and Prospects, co-edited with Ralph Bryant and Nicholas Garganas. Bank of Greece and The Brookings Institution, Athens and Washington, D.C., 2001.
Does One Size Fit All? The Country-Specific Effects of ECB Monetary Policy (with Deborah Gefang, Stephen G. Hall, and Yongli Wang), European Economic Review, forthcoming.
Fast Two-Stage Variational Bayesian Approach to Estimating Panel Spatial Autoregressive Models with Unrestricted Spatial Weights Matrices (with Deborah Gefang and Stephen G. Hall), Spatial Economic Analysis, forthcoming.
The Debate about the Resilience of the Bretton Woods System: Kindleberger, Nurkse, and Friedman, History of Political Economy, forthcoming.
Policymaking in Periods of Structural Changes and Structural Breaks: Rolling Windows Revisited (with Nikolaos Giannellis, Stephen G. Hall, Georgios P. Kouretas, and Yongli Wang). Journal of Forecasting, April 2025, vol. 44, issue 3, pp. 851-855.
On the Detection of Structural Breaks: The Case of the Covid Shock (with Stephen G. Hall, Lorenzo Trapani, and Yongli Wang, Journal of Forecasting, April 2025, vol. 44, issue 3, pp. 1042-1070.
Carl Snyder, the Real Bills Doctrine, and the New York Fed in the Great Depression (co-authored with Robert L. Hetzel and Thomas M. Humphrey), Journal of the History of Economic Thought, September 2024, published online.
On the Controversy Over the Origins of the Chicago Plan for 100 Percent Reserves: Sorry, Frederick Soddy, it was Knight and (Most Probably) Simons!, Journal of Money, Credit and Banking, September 2024, vol. 56, issue 6, pp. 1573-94.
The Case for Flexible Exchange Rates in 1953 and 1969: Friedman versus Johnson. Forthcoming in the Journal of Money, Credit and Banking.
Inflation Forecasting with Rolling Windows: An Appraisal (with Deborah Gefang, Stephen G. Hall, and Yongli Wang). Forthcoming in the Journal of Forecasting.
Carl Snyder, the Real Bills Doctrine, and the New York Fed in the Great Depression (co-authored with Robert L. Hetzel and Thomas M. Humphrey). Forthcoming in Journal of the History of Economic Thought.
Forecasting in Turbulent Times (with Nikolaos Giannellis, Stephen G. Hall, and Georgios P. Kouretas). Forthcoming in the Journal of Forecasting.
An Evaluation of the Inflation Forecasting Performance of the European Central Bank, the Federal Reserve, and the Bank of England (with Eleni Argiri, Stephen G. Hall, Angeliki Momtsia, Daphne Marina Papadopoulou, Ifigeneia Skotida, and Yongli Wang). Forthcoming in the Journal of Forecasting.
Quantifying Spillovers Among Regions (with Deborah Gefang, Stephen G. Hall, and Yongli Wang). Journal of International Money and Finance, February 2024, vol. 140.
The Long and Unfinished Road to Friedman and Meiselman’s ‘The Relative Stability of Monetary Velocity and the Investment Multiplier,’ Journal of the History of Economic Thought, published online December 2023.
A Test to Select Between Spatial Weighting Matrices (with Stephen G. Hall and Deborah Gefang), Journal of Spatial Econometrics, December 2023, vol. 4, issue 1, pp. 1-10.
Forecasting Inflation: The Use of Dynamic Factor Analysis and Nonlinear Combinations (with Stephen G. Hall and Yongli Wang), Journal of Forecasting, April 2023, vol. 42, issue 3, pp. 514-29.
Advances in Forecasting: An Introduction in Light of the Debate on Inflation Forecasting (with Anindya Banerjee, Stephen G. Hall, and Georgios P. Kouretas), Journal of Forecasting, April 2023, vol. 42, issue 3, pp. 455-63.
On the Controversy Over the Origins of the Chicago Plan for 100 Percent Reserves: Sorry, Frederick Soddy, it was Knight and (Most Probably) Simons!, Journal of Money, Credit and Banking, published online March 2023.
Drivers and Spillover Effects of Inflation: The United States, the Euro Area, and the United Kingdom (with Stephen G. Hall and Yongli Wang), Journal of International Money and Finance, March 2023, vol. 131, pp. 1-31.
Milton Friedman and the Road to Monetarism: A Review Essay, History of Political Economy, February 2023, vol. 55, issue 1, pp. 173-92.
Financial Risks, Monetary Policy in the QE Era, and Regulation (with Georgios P. Kouretas and Athanasios Papadopoulos), Journal of Financial Stability, December 2022, vol. 63, issue C.
An Investigation into Feedback and Spatial Relationships between Banks’ Share Prices and Sovereign Bond Spreads during the Euro Crisis (with Heather D. Gibson, Stephen G. Hall, and Pavlos Petroulas), Journal of Financial Stability, December 2022, vol. 63, issue C.
A Suggestion for a Dynamic Multi Factor Model (DMFM) (with Heather D. Gibson and Stephen G. Hall), Macroeconomic Dynamics, September 2022, vol. 26, issue 6, pp. 1423-43.
Retrospectives: On the Evolution of the Rules versus Discretion Debate in Monetary Policy (with Harris Dellas), Journal of Economic Perspectives, Summer 2022, vol. 36, issue 3, pp. 245-60.
‘The Initiated’: Aaron Director and the Chicago Monetary Tradition, Journal of the History of Economic Thought, March 2022, vol. 44, issue 1, pp. 1-23.
Jacob Viner, Milton Friedman, and the Chicago Monetary Tradition: A Reconsideration, History of Political Economy, 2022, vol. 54, issue 2, pp. 251-89.
Ten Years after the Start of the Euro Crisis: Lessons for Financial Markets and Macroeconomic Policies (with Anindya Banerjee, Georgios P. Kouretas, and Athanasios Papadopoulos), Oxford Economic Papers, October 2021, vol. 73, issue 4, pp. 1392–403.
Cross-Country Spillovers of National Financial Markets and the Effectiveness of ECB Policies during the Euro-Area Crisis (with Heather D. Gibson, Stephen G. Hall, Deborah Gefang, and Pavlos Petroulas), Oxford Economic Papers, October 2021, vol. 73, issue 4, pp. 1454-70.
The Dog that Didn’t Bark: The Curious Case of Lloyd Mints, Milton Friedman and the Emergence of Monetarism, Hoover Institution Economics Working Paper 19116, October 2019. Accepted for publication in the History of Political Economy, August 2021, vol. 53, issue 4, pp. 663 -72.
Modern Monetary Theory Meets Greece and Chicago, Hoover Institution Economics Working Paper 20122, November 2020. Published in the Winter 2021, issue of the Cato Journal, pp. 1-23.
A Reconsideration of the Doctrinal Foundations of Monetary-Policy Rules: Fisher versus Chicago, Journal of the History of Economic Thought, March 2021, vol. 43, issue 1, pp. 55-82.
On the Effects of the ECB’s Funding Policies on Bank Lending (with Heather D. Gibson, Stephen G. Hall and Pavlos Petroulas), Journal of International Money and Finance, April 2020, vol. 102.
A Monte Carlo Study of Time Varying Coefficient (TVC) Estimation (with Heather D. Gibson, Stephen G. Hall, and Mike G. Tsionas), Computational Economics, June 2020, vol. 56, issue 1, pp. 115-30.
Nonlinear Forecast Combinations: An Example Using Euro-area Real GDP Growth (with Heather D. Gibson and Stephen G. Hall), Journal of Economic Behavior & Organization, December 2020, vol. 180, pp. 579-89.
The Effect of Emergency Liquidity Assistance (ELA) on Bank Lending during the Euro Area Crisis (with Heather D. Gibson, Stephen G. Hall, Pavlos Petroulas, and Vassilis Spiliotopoulos), Journal of International Money and Finance, November 2020, vol. 108, pp. 1-13.
The Intellectual Origins of the Monetarist Counter-Revolution Reconsidered: How Clark Warburton Influenced Milton Friedman's Monetary Thinking, Oxford Economic Papers, 2019, vol. 71, issue 3, pp. 645-65.
‘The Group’: The Making of the Chicago Monetary Tradition, 1927-36, History of Political Economy, 2019, vol. 51, issue 2, pp. 259-96.
How Friedman and Schwartz became Monetarists (with James R. Lothian), Journal of Money, Credit and Banking, June 2018, vol. 50, no. 4, pp. 757-87.
The Macroeconomic and Fiscal Implications of Inflation Forecast Errors (with Harris Dellas, Heather D. Gibson, and Stephen G. Hall), Journal of Economic Dynamics and Control, August 2018, vol. 93, pp. 203-17.
Measuring Systemic Vulnerability in European Banking Systems (with Heather D. Gibson and Stephen G. Hall), Journal of Financial Stability, June 2018, vol. 36, pp. 279-92.
Milton Friedman and the Case for Flexible Exchange Rates and Monetary Rules (with Harris Dellas), Cato Journal, Spring/Summer 2018, vol. 38, no. 2, pp. 361-377. (Paper presented at Cato’s 35th Annual Monetary Conference, Washington D.C., November 2017.)
A Suggestion for Constructing a Large Time Varying Conditional Covariance Matrix (with Heather D. Gibson and Stephen G. Hall), Economics Letters, 2017, vol. 156, pp. 110-13.
Government Size and Macroeconomic Volatility (with Fabrice Collard and Harris Dellas), Economica, 2017, vol. 84, issue 336, pp. 797-819.
Self-fulfilling Dynamics: The Interactions of Sovereign Spreads, Sovereign Ratings and Bank Ratings during the Euro Financial Crisis (with Heather Gibson and Stephen G. Hall), Journal of International Money and Finance, 2017, vol. 73, Part B, pp. 371-85.
Time-Varying Coefficient Models: A Proposal for Selecting the Coefficient Driver Sets (with Stephen G. Hall and P.A.V.B. Swamy), Macroeconomic Dynamics, 2017, vol. 21, Special Issue 5 pp. 1158-74.
On the Interpretation of Instrumental Variables in the Presence of Specification Errors: A Reply (with P.A.V.B. Swamy and Stephen G. Hall), Econometrics, 2017, vol. 5, issue 3, pp. 1-3.
New Perspectives on the Great Depression: A Review Essay, International Finance, Winter 2016, vol. 19, issue 3, pp. 353-74.
How the Euro-Area Sovereign-Debt Crisis Led to a Collapse in Bank Equity Prices (with Heather D. Gibson and Stephen G. Hall), Journal of Financial Stability, 2016, vol. 26, pp 266-75.
Friedman and the Bernanke-Taylor Debate on Rules versus Constrained Discretion (with Harris Dellas), Invited Paper, Cato Institute’s Annual Monetary Conference, Cato Journal, Spring/Summer 2016, vol. 36, issue 2, pp. 297-313.
Removing Specification Errors from the Usual Formulation of Binary Choice Models (with P.A.V.B. Swamy, Jatinder S. Mehta, I-Lok Chang, William H. Greene, and Stephen G. Hall), Econometrics, June 2016, vol. 4, issue 2.
A Method of Measuring Treatment Effects on the Treated without Randomization (with P.A.V.B. Swamy, Stephen G. Hall, I-Lok Chang, William H. Greene, Heather D. Gibson, and Jatinder S. Mehta), Econometrics, June 2016, vol. 4, issue 2.
The Effectiveness of the ECB's Asset Purchase Programs of 2009 to 2012 (with Heather D. Gibson and Stephen G. Hall), Journal of Macroeconomics, March 2016, vol. 47, Part A, pp. 45-57.
On the Interpretation of Instrumental Variables in the Presence of Specification Errors (with P.A.V.B. Swamy and Stephen G. Hall), Econometrics, 2015, vol. 3, issue 1, pp. 55-64.
In Old Chicago: Simons, Friedman and the Development of Monetary-Policy Rules, Becker Friedman Institute Working Paper, January 2014; Journal of Money, Credit and Banking, February 2015, vol. 47, no. 1, pp. 99-121.
Two Applications of the Random Coefficient Procedure: Correcting for Misspecifications in a Small Area Level Model and Resolving Simpson's Paradox (with P.A.V.B. Swamy, Jatinder S. Mehta, and Stephen G. Hall), Economic Modelling, 2015, vol. 45, issue C, pp. 93–98.
A Note on Generalizing the Concept of Cointegration (with Stephen G. Hall and P.A.V.B. Swamy), Macroeconomic Dynamics, 2015, vol. 19, issue 7, pp. 1633-46.
Are All Sovereigns Equal? A Test of the Common Determination of Sovereign Spreads in the Euro Area (with Heather D. Gibson and Stephen G. Hall), Empirical Economics, 2015, vol. 48, pp. 939-49.
Microproduction Functions with Unique Coefficients and Errors: A Reconsideration and Respesification (with Stephen G. Hall and P.A.V.B. Swamy), Macroeconomic Dynamics, 2015, vol. 19, issue 2, pp. 311-33.
The Crisis in the Euro Area: An Analytic Overview (with Heather D. Gibson and Theodore Palivos), Journal of Macroeconomics, March 2014, vol. 39, Part B, pp. 233-39.
Fundamentally Wrong: Market Pricing of Sovereigns and the Greek Financial Crisis (with Heather D. Gibson and Stephen G. Hall), Journal of Macroeconomics, March 2014, vol. 39, Part B, pp. 405-19.
Exchange Rate Regimes and Asset Prices (with Harris Dellas), invited paper, 30th Anniversary Conference of the Journal of International Money and Finance, Fordham University, October 2012; Journal of International Money and Finance, November 2013, vol. 38, pp. 85-94.
The Gold Standard, the Euro and the Origins of the Greek Sovereign Debt Crisis (with Harris Dellas), invited paper, Cato Institute’s 30th Annual Monetary Conference, Washington D.C., November 15, 2012. Published in the Cato Journal, Fall 2013, vol. 33, no. 3, pp. 491-520.
Is the Relationship between Prices and Exchange Rates Homogenous? (with Stephen G. Hall, George Hondroyiannis, Amangeldi Kenjegaliev, and P.A.V.B. Swamy), Journal of International Money and Finance, October 2013, vol. 37, pp. 411-38.
Measuring Currency Pressures: The Cases of the Japanese Yen, the Chinese Yuan, and the UK Pound (with Stephen G. Hall, Amangeldi Kenjegaliev, and P.A.V.B. Swamy), Journal of the Japanese and International Economies, September 2013, vol. 29, pp. 1–20.
The Forward Rate Premium Puzzle: A Case of Misspecification? (with Stephen G. Hall, Amangeldi Kenjegaliev, and P.A.V.B. Swamy), Studies in Nonlinear Dynamics and Econometrics, April 2013, vol. 17, issue 3, pp. 265-79.
The Debate about the Revived Bretton-Woods Regime: A Survey and Extension of the Literature (with Stephen G. Hall), Journal of Economic Surveys, April 2013, vol. 27, issue 2, pp. 340-63.
Milton Friedman, the Demand for Money, and the ECB’s Monetary Policy Strategy (with Stephen G. Hall and P.A.V.B. Swamy), Federal Reserve Bank of St. Louis Review, May/June 2012, vol. 94, issue 3, pp. 153-85.
The Greek Financial Crisis: Growing Imbalances and Sovereign Spreads (with Heather D. Gibson and Stephen G. Hall), Journal of International Money and Finance, April 2012, vol. 31, issue 3, pp. 498-516.
Generalized Cointegration: A New Concept with an Application to Health Expenditure and Heath Outcomes (with Stephen G. Hall and P.A.V.B. Swamy), Empirical Economics, April 2012, vol. 42. pp. 603-18.
In the Neighborhood: The Trade Effects of the Euro in a Spatial Framework (with Harry Kelejian and Pavlos Petroulas), Regional Science and Urban Economics, January 2012, vol. 42, issues 1-2, pp. 314-22.
The Revived Bretton-Woods System, Liquidity Creation, and Commodity Price-Bubbles (with Harris Dellas), invited paper, Cato Institute’s 28th Annual Conference, Washington D.C., November 2010; published in the Cato Journal, Fall 2011, vol. 31, no. 3, pp. 485-95.
Two Who Called the Great Depression: An Initial Formulation of the Monetary Origins View, Journal of Money, Credit and Banking, March/April 2011, vol. 43, pp. 565-74.
Bretton Woods Systems, Old and New, and the Rotation of Exchange-Rate Regimes (with Stephen G. Hall, George Hondroyiannis, and P.A.V.B. Swamy), The Manchester School, March 2011, vol. 79, issue 2, pp. 293-317.
Exchange-Rate Volatility and Export Performance: Do Emerging Market Economies Resemble Industrial Countries or Other Developing Countries? (with George Hondroyiannis, P.A.V.B. Swamy, and Michael Ulan), Economic Modelling, November 2010, vol. 27, issue 6, pp. 1514-21.
Introduction: P.A.V.B. Swamy’s contribution to Econometrics (with Stephen G. Hall, Lawrence R. Klein, and Arnold Zellner), Economic Modelling, November 2010, vol. 27, issue 6, pp. 1338-44.
Estimation of Parameters in the Presence of Model Misspecification and Measurement Error (with Stephen G. Hall, George Hondroyiannis, and P.A.V.B. Swamy), Studies in Nonlinear Dynamics and Econometrics, May 2010, vol. 14, issue 3.
The Fisher Effect Puzzle: A Case of Non-Linear Relationship? (with Stephen G. Hall, George Hondroyiannis, and P.A.V.B. Swamy), Open Economies Review, February 2010, vol. 21, pp. 91-104
An Optimum-Currency-Area Odyssey (with Harris Dellas), Journal of International Money and Finance, November 2009, vol. 28, issue 7, pp. 1117-37.
The New Keynesian Phillips Curve and Lagged Inflation: A Case of Spurious Correlation? (with Stephen G. Hall, George Hondroyiannis, and P.A.V.B. Swamy), Southern Economic Journal, October 2009, vol. 76, issue 2, pp. 467-81.
Optimum Currency Area Paradoxes, Review of International Economics, August 2009, vol. 17, issue 3, pp. 536–51
Spatial Aspects of Contagion among Emerging Economies (with George Hondroyiannis and Harry Kelejian), Spatial Economic Analysis, vol. 4, issue 2, pp. 191-211.
Assessing the Causal Relationship between Euro-Area Money and Prices: A Time-Varying-Coefficient Interpretation (with Stephen G. Hall, George Hondroyiannis, and P.A.V.B. Swamy), Economic Modelling, vol. 26, issue 4, pp. 760-66.
The New Keynesian Phillips Curve in a Time-Varying Coefficient Environment: Some European Evidence (with George Hondroyiannis and P.A.V.B. Swamy), Macroeconomic Dynamics, April 2009, vol. 13, issue 2, pp. 149-66.
The Benefits and Costs of Monetary Union in Southern Africa: A Critical Survey of the Literature, Working Paper No. 07/05, South African Reserve Bank, Journal of Economic Surveys, February 2009, vol. 23, issue 1, pp. 1–43.
Where Has All the Money Gone? Wealth and the Demand for Money in South Africa (with Stephen G. Hall, George Hondroyiannis, and P.A.V.B. Swamy), Working Paper No. 07/06, South African Reserve Bank, Journal of African Economies, January 2009, vol. 18, issue 1, pp. 84–112
Inflation Dynamics in the Euro-Area and in New EU Members: Implications for Monetary Policy (with George Hondroyiannis and P.A.V.B. Swamy), Economic Modelling, November 2008, vol. 25, issue 6, pp. 1116-27.
The Classification and Performance of Alternative Exchange-Rate Systems (with Harris Dellas and Alan C. Stockman), European Economic Review, August 2008, vol. 52, issue 6, pp. 941-63.
Some Further Evidence on Exchange-Rate Volatility and Exports (with George Hondroyiannis, P.A.V.B. Swamy, and Michael Ulan), Review of World Economics (Weltwirtschaftliches Archiv), April 2008, vol. 144, no. 1, pp. 151-80.
The New Keynesian Phillips Curve and Inflation Expectations: Re-specification and Interpretation (with P.A.V.B. Swamy), Economic Theory, May 2007, vol. 31, issue 2, pp. 293-306.
Methods of Distinguishing Between Spurious Regression and Causation (with P.A.V.B. Swamy and Jatinder S. Mehta), Journal of Statistical Theory and Applications, 2007, vol. 6, no. 1, pp. 83-96.
Money as Numeraire: Doctrinal Aspects and Contemporary Relevance (with Joseph Aschheim), Banca Nazionale del Lavoro Quarterly Review, December 2006, vol. 59, no. 239, pp. 333-61.
A Spatial Modeling Approach to Contagion (with George Hondroyiannis and Harry Kelejian), Open Economies Review, December 2006, vol. 17, pp. 423-41.
A Note on Muth’s Rational Expectations Hypothesis: A Time-Varying-Coefficient Interpretation (with P.A.V.B. Swamy), Macroeconomic Dynamics, June 2006, vol. 10, issue 3, pp. 415-25.
Wage Rigidity and Monetary Union (with Harris Dellas), Economic Journal, October 2005, vol. 115, issue 506, pp. 907-27.
Theoretical Conditions under Which Monetary Policies are Effective and Practical Obstacles to Their Verification (with P.A.V.B. Swamy), Economic Theory, June 2005, vol. 25, pp. 999-1005.
The Global Implications of Regional Exchange Rate Regimes (with Harris Dellas), Journal of International Money and Finance, March 2005, vol. 24, issue 2, pp. 243-55.
How Stable are Monetary Policy Rules: Estimating the Time-Varying Coefficients in Monetary Policy Reaction Function for the US (with I-Lok Chang and P.A.V.B. Swamy), Computational Statistics and Data Analysis, April 2005, vol. 49, issue 2, pp. 575-90.
On the Road Again: An Essay on the Optimal Path to EMU for the New Member States (with Eduard Hochreiter), Journal of Policy Modeling, October 2004, vol. 26, issue 7, pp. 793-816.
The Consequences of Monetary Unification, Invited Paper, Cato Institute’s / The Economist’s 21st Annual Monetary Conference, Washington, November 2003. Published in The Cato Journal, Spring/Summer, 2004, pp. 89-106.
Academic Exclusion: The Case of Del Mar (with Joseph Aschheim), European Journal of Political Economy, March 2004, vol. 20, issue 1, pp. 31-60.
Empirical Modelling of Money Demand in Periods of Structural Change: The Case of Greece (with Sophocles N. Brissimis, George Hondroyiannis, and P.A.V.B. Swamy), Oxford Bulletin of Economics and Statistics, December 2003, vol. 65, issue 5, pp. 605-28.
Correcting for Omitted-Variables and Measurement-error Bias in Autoregressive Model Estimation with Panel Data (with P.A.V.B. Swamy, I-Lok Chang, and Jatinder S. Mehta), Computational Economics, October-December 2003, vol. 22, pp. 225-53.
The Economics of Exchange Rate Regimes: A Review Essay, The World Economy, August 2003, vol. 26, issue 8, pp. 1215-46.
An Analysis of Differences in Earnings between Small Commercial Banks (with P.A.V.B. Swamy and Thomas J. Lutton), Journal of Productivity Analysis, July 2003, vol. 20, issue 1, pp. 97-114.
The Collapse of Exchange Rate Pegs (with Harris Dellas and P.A.V.B. Swamy), The Annals of the American Academy of Political and Social Science, January 2002, vol. 579, pp. 53-72.
The Long-Run Demand for Money in the United Kingdom: A Random Coefficient Analysis (with George Hondroyiannis and P.A.V.B. Swamy), Economic Modelling, August 2001, pp. 475-501.
Lessons of the Euro for Dollarization: Analytical and Political Economy Perspectives (with Harris Dellas), Journal of Policy Modeling, April 2001, vol. 23, pp. 333-45. Reprinted in The Dollarisation Debate, edited by J. Dean, D. Salvatore, and T. Willett (Oxford University Press, 2003).
The Time-Varying Performance of the Long-Run Demand for Money in the United States (with George Hondroyiannis and P.A.V.B. Swamy), Economic Inquiry, January 2001, vol. 39, issue 1, pp. 111-23.
A Computational Approach to Finding Causal Economic Laws (with I-Lok Chang, P.A.V.B. Swamy, and Charles Hollahan), Computational Economics, October 2000, vol. 16, pp. 105-36.
On The Exchange Rate as a Nominal Anchor: The Rise and Fall of the Credibility Hypothesis, The Economic Record, June 2000, vol. 76, issue 233, pp. 183-201.
Is the Japanese Economy in a Liquidity Trap? (with George Hondroyiannis and P.A.V.B Swamy), Economics Letters, January 2000, vol. 66, issue 1, pp. 17-23.
On Testing the Liquidity Trap Hypothesis (with P.A.V.B. Swamy, B. Zhang, and George Hondroyiannis), Greek Economic Review, Autumn 1999, pp. 23-44.
Was the Monetarist Tradition Invented? Journal of Economic Perspectives, Fall 1998, vol. 12, no. 4, pp. 211-22. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
Two Types of Target Zone Proposals: McKinnon and Ohno versus Williamson (with Joseph Aschheim), Weltwirtschaftliches Archiv, 1998, Heft 3, pp. 548-57.
A Generalized Framework for Predicting Returns in Multicurrency Investments (with Costas Christou and P.A.V.B. Swamy), Journal of Economic Dynamics and Control, July 1998, vol. 22, issue 7. pp. 977-1000.
The International Use of Currencies: The U.S. Dollar and the Euro, Finance and Development, June 1998, vol. 35, no. 2, pp. 46-49. Reprinted in International Economics and International Economic Policy: A Reader, edited by P. King (Irwin, McGraw Hill, 2000), pp. 325-30.
Chicago, Harvard, and the Doctrinal Foundations of Monetary Economics, Journal of Political Economy, February 1997, vol. 105, no. 1, pp. 153-77. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
How Should Diversifiable and Nondiversifiable Portofolio Risks be Defined? (with Thomas J. Lutton and P.A.V.B. Swamy), Journal of Economics and Finance, Fall 1997, vol. 21, pp. 11-18.
The International Use of the U.S. Dollar: An Optimum Currency Area Perspective, The World Economy, September 1997, vol. 20, issue 6, pp. 709-47.
On the Assumptions Used to Identify Structural-Form Coefficients in terms of Reduced-Form Coefficients (with Jatinder S. Mehta and P.A.V.B. Swamy), Journal of Applied Statistical Science, 1997, vol. 5, pp. 247-57.
A Random Coefficient Model of Speculative Attacks: The Case of the Mexican Peso (with Joseph Aschheim, Costas Christou, and P.A.V.B. Swamy), Open Economies Review, 1996, vol. 7, pp. 556-71.
Modelling Optimal Strategies for the Allocation of Wealth in Multicurrency Investments (with Costas Christou and P.A.V.B. Swamy), International Journal of Forecasting, December 1996, vol. 12, issue 4, pp. 483-93.
Monetary Economics in Doctrinal Perspective: Review Essay (with Joseph Aschheim), Journal of Money, Credit, and Banking, August 1996, vol. 28, no. 3, Part 1, pp. 406-17.
Random Coefficient Models: Theory and Applications (with P.A.V.B. Swamy), Journal of Economic Surveys, June 1995, vol. 9, issue 2, pp. 165-96.
Nominal Anchors for Monetary Policy: A Doctrinal Analysis (with Jospeh Aschheim), Banca Nazionale del Lavoro Quarterly Review, December 1994, vol. 47, issue 191, pp. 469-94.
Connections between GARCH and Stochastic Coefficients (SC) Models (with P.A.V.B. Swamy) Economics Letters, September 1994, vol. 46, issue 1, pp. 7-10.
The Theory of Monetary Integration, Open Economies Review, April 1994, vol. 5, pp. 211-30.
The `New' Theory of Optimum Currency Areas, The World Economy, November 1993, pp. 663‑85. Reprinted in International Economic Integration, edited by M. Jovanonic (Routledge: London, 1997). Reprinted in The Political Economy of Monetary Union, edited by P. De Grauwe (Edward Elgar, 2001).
The Theory of Optimum Currency Areas: Revisited, Finance and Development, June 1993, pp. 32‑35.
Is it Possible to Find an Econometric Law that Works Well in Explanation and Prediction? The Case of Australian Money Demand (with P.A.V.B. Swamy), Journal of Forecasting, January 1992, vol. 11, issue 1, pp. 17‑33.
Doctrinal Foundations of Monetary Economics: A Review Essay (with Joseph Aschheim), Journal of Monetary Economics, December 1991, vol. 28, issue 3, pp. 501‑10.
Some Problems with Identification in Parametric Models and Their Solutions (with P.A.V.B. Swamy, Jatinder S. Mehta, and Peter von zur Muehlen), Greek Economic Review, December 1991, vol. 13, issue 2, pp. 287‑312.
Exchange Rate Variability and Direct Investment, (with Martin J. Bailey) Annals of the American Academy of Political and Social Sciences, July 1991, vol. 516, pp. 106‑16.
The Internationalization of the Yen (with Yusuru Ozeki), Finance and Development, June 1991, vol. 28, issue 002, pp. 2‑5.
Revolutions and Counterrevolutions in Monetary Economics: Keynes, Keynesians, and New Classicists (with Joseph Aschheim), Atlantic Economic Journal, December 1990, vol. 18, issue 4, pp. 1‑13.
International Currencies: The Rise of the Deutsche Mark, Finance and Development, September 1990, pp. 35‑38.
Modeling the Demand for Money in the Large Industrial Countries: A Comparison of the Buffer‑Stock and Error‑Correction Approaches (with James M. Boughton), Journal of Policy Modeling, Summer 1990, pp. 433-62.
Modeling Buffer Stock Money: An Appraisal (with P.A.V.B. Swamy), Journal of Policy Modeling, Winter 1989, vol. 11, issue 4, pp. 593‑612.
Interpreting Keynes: Reflections on the Leijonhufvud‑Yeager Discussion, The Cato Journal, Spring/Summer 1989, vol. 9, issue 1, pp. 237‑52.
Money in South Africa: A Test of the Buffer Stock Model, South African Journal of Economics, March 1989, vol. 57, issue 1, pp. 1‑9.
Financial Reform, Monetary Policy, and the Demand for Money in Australia (with P.A.V.B. Swamy), IMF Staff Papers, March 1989, vol. 36, issue 1, pp. 63‑101.
Econometric Modeling of Partial Adjustment: The Cochrane‑Orcutt Procedure, Flaws and Remedies (with Joseph Aschheim), Economic Modeling, January 1988, vol. 5, issue 1, pp. 2‑8.
Inconsistency in Correcting for Serial Correlation in Money‑Demand Models (with Joseph Aschheim), Atlantic Economic Journal, December 1987, vol. 15, issue 4, pp. 16‑21.
Commodity Standard on Monetary Rule? Professor Hayek on Commodity Money, Economic Affairs, (Institute of Economic Affairs: London), August/September 1987, pp. 6‑12.
Inflationary Finance and the Demand for Money in Greece, Kredit und Kapital, Heft 2, 1987, pp. 245‑57.
The Impact of Exchange‑Rate Variability on Export Growth: Some Theoretical Considerations and Empirical Results (with Martin J. Bailey and Michael Ulan), Journal of Policy Modeling, Spring 1987, vol. 9, issue 1, pp. 225‑44. Reprinted in Studies in Positive and Normative Economics, edited by M. J. Bailey (Edward Elgar: Brookfield, VT: 1992).
Exchange Rate Variability and Trade Performance: Evidence for the Big Seven Industrial Countries (with Martin J. Bailey and Michael Ulan), Weltwirtschaftliches Archiv, Heft 3, 1986, pp. 466‑477. Reprinted in Boletin Economico de Informacion Commercial Espanola, November, 1987, pp. 4107‑111.
An Econometric Model of Kenyan Economy (with James Elliott and Sung Y. Kwack), Economic Modeling, January 1986, vol. 3, issue 3, pp. 2‑30.
Inflation and the Demand for Money in Israel (with Martin J. Bailey), Economics Letters, 1985, vol. 18, no. 4, pp. 339‑344. Reprinted in Studies in Positive and Normative Economics, edited by M. J. Bailey (Edward Elgar: Brookfield, VT: 1992).
Alexander Del Mar, Irving Fisher and Monetary Economics (with Joseph Aschheim), The Canadian Journal of Economics, May 1985, vol. 18, issue 2, pp. 294‑313.
Dollar Appreciation, Deficit Stimulation and the New Protectionism (with Joseph Aschheim and Martin J. Bailey), Journal of Policy Modeling, Spring 1985, vol. 7, issue 1, pp. 107‑21.
The Price Equation and Excess Demand: A Reappraisal, Applied Economics, December 1984, vol. 16, issue 6, pp. 935‑44.
The Simultaneity Problem in Forecasting Inflation (with Joseph Aschheim), Atlantic Economic Journal, September 1984, vol. 12, issue 3, pp. 20‑29.
The Monetary‑Ideology Nexus: Keynes versus Simons (with Joseph Aschheim), Banca Nazionale del Lavoro Quarterly Review, June, 1984, pp. 177‑196. Reprinted in J.M. Keynes: Second Series Critical Assessments, edited by J. Wood (Edward Elgar, 1997). Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
A Model of the Inflationary Process in Six Major O.E.C.D. Economies: Empirical Results and Policy Implications, Journal of Policy Modeling, March 1983, vol.5, issue 1, pp. 19‑35.
Notes on Garvy, Snyder, and the Doctrinal Foundations of Monetarism, History of Political Economy, Spring 1982, vol. 14, issue 1, pp. 89‑100.
Keynesian and Monetarist Theories of the Monetary Transmission Process: Doctrinal Aspects, Journal of Monetary Economics, May 1981, vol. 7, issue 3, pp. 317‑37. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
Keynes on Monetary Theory and Policy, Southern Economic Journal, April 1981, pp. 1137‑42. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
The Chicago Monetary Growth‑Rate Rule: Friedman on Simons Reconsidered (with Joseph Aschheim), Banca Nazionale del Lavoro Quarterly Review, March 1981, pp. 75‑89. Reprinted in Twentieth Century Economists: Frank Knight, Henry Simons and Joseph Schumpeter, edited by M. Blaug (Edward Elgar, Brookfield VT, 1992).
Interest Rate Policies and Inflation in Interdependent Economies: Recent Policy Dilemmas (with Danny M. Leipziger, Dae Choi, and Victor Filatov), Journal of Policy Modeling, February 1981, vol. 3, issue 1, pp. 1‑18.
Economic Policy Effectiveness in Hicksian Analysis: An Extension, Kredit und Kapital, Heft 2, 1980, pp. 252‑62. Reprinted in Sir John Hicks: Critical Assessments, vol. III, edited by J. Wood and R. Woods (Routledge: London, 1989), pp. 230‑39.
A Note on Monetary Policy Effectiveness, the Correspondence Principle, and the Positively Sloped is Curve, Economics Letters, 1979, vol. 4, issue 4, pp. 313‑17.
On Monetarism and Ideology (with Joseph Aschheim), Banca Nazionale del Lavoro Quarterly Review, June 1979, pp. 167‑86. Reprinted in Moneta and Credito, June 1979, pp. 173‑92.
Some Initial Formulations of the Monetary Growth‑Rate Rule, History of Political Economy, Winter 1977, vol. 9, issue 4, pp. 535‑47.
The Chicago Tradition Revisited: Some Neglected Monetary Contributions of Senator Paul Douglas, Journal of Money, Credit, and Banking, November 1977, pp. 529‑35. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
“Chicago Schools Old and New on the Efficacy of Monetary Policy,” Banca Nazionale del Lavoro Quarterly Review, March 1977, pp. 51‑73. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
Some Further Observations on the Monetary Economics of Chicagoans and Non‑Chicagoans, Southern Economic Journal, April 1976, pp. 685‑92. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
Review of Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922– 1938, by Humphrey, Thomas M. and Timberlake, Richard H. History of Political Economy February 2021, vol. 53, issue 1, pp. 172-77.
Anna Jacobson Schwartz: In Memoriam, Cato Journal, Fall 2013, vol. 33, no. 3, pp. 321-32.
Retroview: The Money Man - The American Interest, November/December 2011, vol. VII, no. 2, pp. 110-14.
Unit of Account or Medium of Exchange? Reply (with Joseph Aschheim), Banca Nazionale del Lavoro Quarterly Review, June 2007, vol. 60, issue 241, pp. 207-13.
What If the Leader of the Central Bank Told Hilarious Jokes and Did Card Tricks? A Panel of Experts (with Perry Mehrling, Laurence S. Moss, and Jocelyn Pixley), American Journal of Economics and Sociology, November 2007, vol. 6, issue 5, pp. 863-88.
Alexander Del Mar (with Joseph Aschheim), Biographical Dictionary of American Economists, edited by R. Emmett (Thoemmes/Continuum, 2006), pp. 207-09.
Monetary Union in Europe, Evidence for the HM Treasury’s Assessment of the Economic Consequences for the United Kingdom of Monetary Union, Submissions on EMU from Leading Academics, HM Treasury, 2003.
The Chicago Monetarist Tradition: Response, Journal of Economic Perspectives, Summer 1999, vol. 13, issue 3, pp. 241-42.
On the Analytics of Wicksell: A Comment on Ahiakpor (with Joseph Aschheim), American Journal of Economics and Sociology, July 1999, vol. 58, issue 3, pp. 467-70.
Review of the Crawling Band as an Exchange Rate Regime: Lessons from Chile, Columbia and Israel (by J. Willamson), Economic Journal, November 1998, pp. 1895-98.
Review of Dollar and Yen: Resolving Economic Conflict between the United States and Japan (by R. McKinnon and K. Ohno), Finance and Development, March 1998, p. 54.
More on the Chicago Tradition, Journal of Economic Studies, No.1, 1998, pp. 17-21. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
Internationalization of Currencies: The Case of the US Dollar and its Challenger Euro, International Executive, September/October 1997, vol. 39, issue 5, pp. 581-97.
Currency Crises, Open Economies Review, March 1996, vol. 7, Special Issue 1, pp. 431-36.
Recasting the Theory of Optimum Currency Areas (with Joseph Aschheim), Development and International Cooperation, June-December 1995, pp. 71-86.
The Price Equation, Excess Demand, and Normal Cost Pricing: A Reply, Applied Economics, December 1988, vol. 20, issue 12, pp. 1693‑97.
Alexander Del Mar (with Joseph Aschheim); “Warren Milton Persons”; “Carl Snyder”: Entries commissioned by The New Palgrave: A Dictionary of Economic Theory and Doctrine, edited by J. Eatwell, M. Milgate, and P. Newman (The Macmillan Press, 1987).
Policy Aspects of Alternative Exchange-Rate Regimes: Introduction, Journal of Policy Modeling, Spring 1987, vol. 9, issue 1, pp. 1‑5.
Review of J.C. Gilbert's The Impact of Keynes on Monetary Economic, History of Political Economy, Winter 1985, pp. 677‑80.
Review of: The U.S. Economy in an Interdependent World (by G. Stevens et. al., Federal Reserve Board, 1984). Journal of Policy Modeling, November, 1984, pp. 587‑90.
Economic Policy Effectiveness in Hicksian Analysis: A Reply, Kredit und Kapital, Heft 3, 1982, pp. 429‑33. Reprinted in Sir John Hicks: Critical Assessments, vol. III, edited by J. Wood and R. Woods (Routledge: London, 1989), pp. 294‑97.
The Last Remake of the New Economics and the Old Economists: Reply, Southern Economic Journal, January 1979, pp. 926‑31. Reprinted in Keynes, Chicago and Friedman, edited by R. Leeson (Edward Elgar, 2003).
The Monetary Policy of Henry Simons: Comment, American Economist, Fall 1976, vol. 20, no. 2, pp. 80‑82.
Spreads and Bank Ratings in the Euro Area Sovereign Debt Crises (with Heather D. Gibson and Stephen G. Hall). In Global Economic Modeling, edited by Peter Pauly (World Scientific), 2018, pp. 112-45.
Friedman, Chicago, and Monetary Rules (with Harris Dellas). In Milton Friedman: Contributions to Economics and Public Policy, edited by Robert A. Cord and J. Daniel Hammond, (Oxford University Press), 2016, pp. 198-216.
Small Area Estimation with Correctly Specified Linking Models (with P.A.V.B. Swamy, Jatinder S. Mehta, and Stephen G. Hall), Recent Advances in Estimating Nonlinear Models, edited by Jun Ma and Mark Wohar, (Springer) 2014, pp. 193-228.
Money (with Joseph Aschheim). In Encyclopedia of Keynesian Economics, 2nd edition, edited by T. Cate, (Edward Elgar Publishing), January 2013.
Two Roads to the Euro: The Monetary Experiences of Austria and Greece (with Eduard Hochreiter), IMF Conference on Euro Adoption in the Accession Countries: Opportunities and Challenges, Prague. Published in Euro Adoption in Central and Eastern Europe: Opportunities and Challenges, edited by S. Schadler (International Monetary Fund, 2005) pp. 182-201.
The Treatment of Nonstationarity in Empirical Models: A Case Study of Greek Money-Demand (with Sophocles N. Brissimis, George Hondroyiannis, and P.A.V.B. Swamy) in Essays in Economic Analysis for the 45th Foundation Anniversary of KEPE, edited by T. Lianos, (Papazisis, 2004) pp. 227-57.
Economic Growth in Greece: Past Performance and Future Prospects: Comment (with Nicholas Zonzilos), in Greece’s Economic Performance and Prospects, edited by R. Bryant and N. Garganas, (Bank of Greece and Brookings Institution, 2001) pp. 202-10.
Issues in the Transmission of Monetary Policy (with Sophocles N. Brissimis, Nicholas Magginas, and George Simigiannis), in Greece’s Economic Performance and Prospects, edited by R. Bryant and N. Garganas, (Bank of Greece and Brookings Institution, 2001) pp. 237-71.
Monetary Regimes and Inflation Performance: The Case of Greece (with Nicholas Garganas), in Greece’s Economic Performance and Prospects, edited by R. Bryant and N. Garganas, (Bank of Greece and Brookings Institution, 2001) pp. 43-96
Introduction (with Ralph Bryant and Nicholas Garganas), in Greece’s Economic Performance and Prospects, edited by R. Bryant and N. Garganas, (Bank of Greece and Brookings Institution, 2001) pp. 1-42.
Random Coefficient Models (with P.A.V.B. Swamy), A Companion to Theoretical Econometrics, edited by B. Baltagi: (Basil Blackwell, 2001).
Money (with Jospeh Aschheim). In Encyclopedia of Keynesian Economics, edited by T. Cate, D. Colander, and G. Harcourt (Edward Elgar, 1997), pp. 444-49.
Macroeconomic Policies and World Financial Integration (with P.A.V.B. Swamy.) In Macroeconomic Policies in Open Economies, edited by M. Fratianni, J. von Hagen, and D. Salvatore (North Holland, 1997), pp. 248-88.
Currency Substitution and the International Demand for Yen, in The Macroeconomics of International Currencies: Theory, Policy, Evidence, edited by P. Mizen and E. Pentacost (Edward Elgar, Cheltenham, UK, 1996), pp. 178-92.
The Deutsche Mark as an International Currency, in International Finance: Contemporary Issues edited by D. Das (Routledge, London, 1993), pp. 566‑79.
The Relation Between Exchange Rate Variability and Protectionism (with Joseph Aschheim and Michael Ulan in Protectionism and World Welfare, edited by D. Salvatore (Cambridge University Press, Cambridge, U.K. 1993), pp. 290‑308.
Vehicle Currencies, The New Palgrave Dictionary of Money and Finance, edited by P. Newman, M. Milgate, and J. Eatwell (Macmillan, London, 1992, pp. 754‑57).
Modelling African Development Prospects (with Sung Y. Kwack and Dominick Salvatore) in Policy Adjustment in Africa, edited by C. Milner and A.J. Rayner (Macmillan, London, 1992), pp. 31‑60.
Macroeconomic Policies for African Development (with Joseph Aschheim and James Elliott), in D. Salvatore (editor), African Development Prospects: A Policy Modeling Approach (Taylor and Francis on the behalf of the United Nations: New York, 1989), pp. 192‑202.
Dynamic Policy Simulations of African Macroeconomic Models (with Sung Y. Kwack and Dominick Salvatore), in D. Salvatore (editor), African Development Prospects: A Policy Modeling Approach (Taylor and Francis Publishers on the behalf of the United Nations: New York, 1989), pp. 163‑86.
Trade and Investment under Floating Exchange Rates: The U.S. Experience (with Martin J. Bailey and Maurice Obstfeld), invited paper for the Cato Institute's Sixth Annual Monetary Conference ‑‑ Dollars, Deficits, and Trade: The Changing World Economy, February 25‑26, 1988. Published in The Cato Journal, Fall 1988, pp. 421‑442. Reprinted in Dollars, Deficits and Trade, edited by J. Dorn and W. Niskanen (Kluwer Academic Publishers: Boston, 1989), pp. 207‑35.
Protectionism Policy Simulations with a Macroeconometric Model of a Developing Country (with James Elliott and Sung Y. Kwack), in J. Mudge (editor), The AID Economists Conference: Papers and Proceedings (Pragma Publishing Co., 1985).
Guest Editor (with Anindya Banerjee, Stephen G. Hall, and Georgios P. Kouretas): Advances in Forecasting in Macroeconomics and Financial Markets. Forthcoming in Special Issue of Journal of Forecasting, 2022.
Guest Editor (Georgios P. Kouretas and Athanasios Papadopoulos): Financial Risks, Monetary Policy, and Regulation in the QE Era. Special Issue of Journal of Financial Stability, 2022.
Guest Editor (with Anindya Banerjee, Georgios P. Kouretas and Athanasios Papadopoulos): Ten Years after the Start of the Euro Crisis: Lessons for Financial Markets and Macroeconomic Policies. Special Issue of Oxford Economic Papers, 2021.
Guest Editor (with Heather D. Gibson, and Theodore Palivos): The Crisis in the Euro Area. Special Issue of the Journal of Macroeconomics, March 2014.
Guest Editor (with Stephen G. Hall, Lawrence R. Klein, and Arnold Zellner): Essays in Honors of P.A.V.B Swamy. Special Issue of Economic Modelling. 2011.
Guest Editor (with Eduard Hochreiter): Regional and International Currency Arrangements. Special Issue of International Economics and Economic Policy. 2006.
Guest Editor: Currency Crises: Causes, Consequences and Policy Responses, Special Issue of Open Economies Review, 1996. Also published in book form as: The Collapse of Exchange Rate Regimes: Causes, Consequences and Policy Responses (Kluwer Academic Publishers, 1997).
Guest Editor (with A. Courakis): Financial and Monetary Integration, Special Issue of Greek Economic Review, No. 2 1993.
Guest Editor: Policy Aspects of Alternative Exchange Rate Regimes. Special Issue of Journal of Policy Modelling, Spring 1987.
The Development of Monetary Policy Rules, book manuscript, under preparation.
Identifying spatial interdependence in panel data with large N and small T (with Deborah Gefang and Stephen G. Hall).
Fast Two-Stage Variational Bayesian Approach to Estimating Panel Spatial Autoregressive Models with Unrestricted Spatial Weights Matrices (with Deborah Gefang and Stephen G. Hall).
Detecting Structural Breaks in Inflation (with Stephen G. Hall, Lorenzo Trapani, and Yongli Wang).