Willem H. Buiter : publications


Note: If the title of a publication is preceded by an asterisk, then I don't have access to any copy (even a working paper version) that can be made available via this website.  Should you be in the possession of such items, please send them to me at whb1002@gmail.com.

BOOKS

  1. Financial Markets and European Monetary Cooperation: The Lessons of the 92-93 ERM Crisis, with Giancarlo Corsetti and Paolo Pesenti, Cambridge University Press, 1998.
  2. International Macroeconomics, Oxford University Press, 1990.
  3. Principles of Budgetary and Financial Policy, Harvester Wheatsheaf Books, Ltd., 1990 and MIT Press, 1990.
  4. Macroeconomic Theory and Stabilization Policy, Manchester University Press, 1989 and University of Michigan Press, 1990.
  5. Budgetary Policy, International and Intertemporal Trade in the Global Economy, North-Holland, 1989.
  6. Temporary Equilibrium and Long-Run Equilibrium, Yale PhD Thesis, 1975, Garland Publishing, Inc., New York, 1979. Republished in Routledge Revivals, March 16, 2014.

ARTICLES IN REFEREED PROFESSIONAL JOURNALS

  1. "The Simple Analytics of Helicopter Money: Why It Works - Always," in Economics, The Open-Access, Open-Assessment E-Journal, 8 (2014-28): 1-51, http://dx.doi.org/10.5018/economics-ejournal.ja.2014-28.
  2. "The ECB as Lender of Last Resort for Sovereigns in the Euro Area", with Ebrahim Rahbari, CEPR Discussion Paper No. 8974, May 2012, Journal of Common Market Studies, Special Issue: The JCMS Annual Review of the European Union in 2011, September 2012, Volume 50, Issue Supplement s2, pp. 6-35.
  3. "Housing wealth isn't wealth," Economics, the Open-Access, Open-Assessment E-Journal 3, 2010-22, Aug. 2010. For abstract, click here.
  4. "The limits to fiscal stimulus," Oxford Review of Economic Policy 26, Spring 2010, 48 - 70. For NBER working paper version, click here.
  5. "Negative nominal interest rates; three ways to overcome the zero lower bound," North American Journal of Economics and Finance 20(3), Dec. 2009, 213-238. For NBER working paper version, click here.
  6. "Economic, political, and institutional prerequisites for monetary union among the members of the Gulf Cooperation Council," Open Economies Review 19(5), Nov. 2008, 579-612. For version presented at the Seminar "Preparing for GCC Currency Union: Institutional Framework and Policy Options," Nov. 20-21, 2007, Dubai, UAE, click here.
  7. "Why the United Kingdom should join the Eurozone," International Finance 11(3), Winter 2008, 269-282.
  8. "Vergrijzing is een verborgen zegen," with Harry P. van Dalen, Sylvester C. W. Eijffinger, Joop Hartog, Kees Koedijk en Arjen van Witteloostuijn, Kwartaalschrift Economie, no. 4, 2007, 421-436. For working paper version, click here.
  9. "Deflationary bubbles," with Anne C. Sibert, Macroeconomic Dynamics 11(4), Sept. 2007, 431-454. For working paper version, click here.
  10.  "Seigniorage," Economics, the Open-Access, Open-Assessment E-Journal, 2007-10.
  11. "Is numérairology the future of monetary economics? Unbundling numéraire and medium of exchange through a virtual currency with a shadow exchange rate," Open Economies Review 18(2), 2007, 127-156.
  12. "The 'sense and nonsense of Maastricht' revisited: What have we learnt about stabilization in EMU?," Journal of Common Market Studies 44(4), 2006, 687-710. For working paper version, click here.
  13. "Overcoming the zero bound: Gesell vs. Eisler: Discussion of Mitsuhiro Fukao's, "The effects of 'Gesell' (currency) taxes in promoting Japan's economic recovery," International Economics and Economic Policy 2(2-3), Nov. 2005, 189-200. For working paper version, click here.
  14. "New developments in monetary economics: Two ghosts, two eccentricities, a fallacy, a mirage and a mythos," Economic Journal 115(502), Mar. 2005, C1-C31, presented as the Royal Economic Society 2004 Hahn Lecture. For an abstract, click here
  15. "Two naked emperors? Concerns about the Stability and Growth Pact and second thoughts about central bank independence," Fiscal Studies 25(3), Sept. 2004, 249-277, presented as the Institute for Fiscal Studies 2003 Annual Lecture. For working paper version, click here. For an abstract, click here.
  16. "Patching up the Pact: Some suggestions for enhancing fiscal sustainability and macroeconomic stability in an enlarged European Union," with Clemens Grafe, Economics of Transition 12(1), 2004, pp. 67-102. For an abstract click here .
  17. "James Tobin; an appreciation of his contribution to economics," Economic Journal 113(491), Nov. 2003, 585-631. For working paper version, click here.
  18. "Overcoming the zero bound on nominal interest rates with negative interest on currency: Gesell's solution," with Nikolaos Panigirtzoglou, Economic Journal 113(490), Oct. 2003, 723-746. For working paper version, click here. For an abstract click here.
  19. "Anchor, float or abandon ship: Exchange rate regimes for the accession countries," with Clemens Grafe, Banca Nazionale del Lavoro Quarterly Review, no. 221, Jun. 2002, 1-32. For working paper version, click here. For an abstract, click here. Available in Italian as: "Anchorare, fluttuare o abbandonare la nave: I regimi valutari dei paesi candidati all'Unione Europea", Willem H. Buiter and Clemens Grafe, Moneta e Credito, Vol. 55, p.127-164, 2002.
  20. "The fiscal theory of the price level: A critique," Economic Journal 112, Jul. 2002, 459-480. For working paper version, click here. For an abstract, click here.
  21. "Quelle devrait être la mission des banques multilatérales de développement?," with Steven Fries, Revue d'économie du développement, 2002/1 Vol. 16, p. 171-204. DOI : 10.3917/edd.161.0171
  22. "Notes on 'A code for fiscal stability'," Oxford Economic Papers 53(1), 1-19, Jan. 2001. For working paper version, click here.
  23. "From Predation to Accumulation? The Second Transition Decade in Russia," Economics of Transition, 8(3), 2000, pp. 603-622.
  24. "Optimal currency areas: Why does the exchange rate regime matter? With an Application to UK Membership in EMU," Scottish Journal of Political Economy 47(3), Aug. 2000, 213-250. For version presented as the Sixth Royal Bank of Scotland/Scottish Economic Society Annual Lecture, given at the Royal College of Physicians, Edinburgh, on 26 Oct. 1999, click here
  25. "Six months in the life of the euro: What have we learnt?," Tijdschrift voor Politieke Economie 21(4), Oct. 1999, 4-25. For working paper version, click here.
  26. "The EMU and the NAMU: What is the Case for North American Monetary Union?," Canadian Public Policy/Analyse de Politiques, Sept. 1999. For working paper version, click here.
  27. "UDROP: A contribution to the new international financial architecture," with Anne C. Sibert, International Finance 2(2), Jul 1999, 227-247. For a working paper version click here.
  28. "Alice in Euroland," Journal of Common Market Studies 37(2), June 1999, 181-209.  For working paper version, click here.
  29. "Enterprise performance and macroeconomic control," with Ricardo Lago and Nicholas Stern, Banca Nazionale del Lavoro Quarterly Review, no. 200, Mar. 1997, 3-22.
  30. "Generational accounts, aggregate saving and intergenerational distribution," Economica 64, 1997, 605-26. For working paper version, click here.
  31. "A portfolio approach to a cross-sectoral and cross-national investment strategy in transition economies," with Hélène Rey and Ricardo Lago, Economics of Transition 5(1), 1997, 63-96. For working paper version click here.
  32. *"The economic case for monetary union in the European Union," in C. Deissenberg, R.F. Owen and D. Ulph eds, European Economic Integration, supplement to the Review of International Economics 5(4), 1997, 10-35. Also in Proceedings of the Royal Netherlands Academy of Sciences, Amsterdam, 1996.
  33. "Politique macroéconomique dans la période de transition vers l'union monétaire," Revue d'Economie Politique 105(5) Sept./Oct. 1995, 897-46.  For working paper version of English translation click here.
  34. "Capital mobility, fiscal policy and growth with self-financing of human capital formation," with Kenneth M. Kletzer, Canadian Journal of Economics 28, special issue in Memory of Doug Purvis, edited by M.Devereux and A. Gregory, Nov. 1995, S163-S194. For working paper version, click here.
  35. "Permanent international producitivity growth differentials in an integrated global economy," with Kenneth M. Kletzer, Scandinavian Economic Journal 95, 1993, 467-493. For working paper version click here.
  36. "Excessive deficits: sense and nonsense in the Treaty of Maastricht," with Giancarlo Corsetti and Nouriel Roubini, Economic Policy, 1993(1). Also translated into Italian and published as "Disavanzo eccessivo,ragionevolezza e nonsensov nel Trattato di Maastricht," in Rivista Di Politica Economica, June 1993, 3-82. Reprinted in The Political Economy of Monetary Union, Edited by Paul de Grauwe, pp. 297-331, Edward Elgar Publishing Ltd, Cheltenham, 2001. For working paper version, click here.
  37. *"Who's afraid of the national debt?," with Kenneth M. Kletzer, American Economic Review, Papers and Proceedings, May 1992.
  38. *"Fiscal policy coordination as fiscal federalism," with Kenneth M.Kletzer, European Economic Review 36, Apr. 1992, 647-653.
  39. "Debt, deficits and inflation: an application to the public finances of India," with Urjit R. Patel, Journal of Public Economics 47, 1992, 171-205. Reprinted in Amaresh Bagchi and Nicholas Stern, eds., Tax Policy and Planning in Developing Countries, Oxford University Press, 1994, pp. 94-131.  For working paper version click here.
  40. "Persistent differences in national productivity growth rates with a common technology and free capital mobility: the roles of public debt, capital taxation and policy towards human capital formation," with Kenneth M. Kletzer, Journal of the Japanese and International Economies 5, Dec. 1991, 325-353.  For working paper version click here.
  41. "The welfare economics of cooperative and non-cooperative fiscal policy," with Kenneth M. Kletzer, Journal of Economic Dynamics and Control 15, 1991, 215-244. Reprinted in the International Journal of Development Banking 10(2), Jul. 1992, 3-21.  For working paper version click here.
  42. "Debt neutrality, Professor Vickrey and Henry George's `single tax'," Economics Letters 29, 1989, 43-47. For working paper version click here.
  43. "A viable gold standard requires flexible monetary and fiscal Policy," Review of Economic Studies, Jan. 1989, 101-117.  For working paper version click here.
  44. "Structural and stabilization aspects of fiscal and financial policy in the dependent economy," Oxford Economic Papers 40, 1988, 220-245. For working paper version click here.
  45. "Death, birth, productivity growth and debt neutrality," Economic Journal 98, Jun. 1988. 279-293. For working paper version click here.
  46. "Efficient 'myopic' asset pricing in general equilibrium: A potential pitfall in excess volatility tests," Economics Letters 25, 1987, 143-148. For working paper version click here.
  47. "A fiscal theory of hyperdeflations? Some surprising monetarist arithmetic," Oxford Economic Papers 39(3), 1987, 111-118. Reprinted in P.J.N. Sinclair, ed., Prices, Quantities and Expectations, Clarendon Press, Oxford, 1987, pp. 111-118.
  48. "Borrowing to defend the exchange rate and the timing and magnitude of speculative attacks," Journal of International Economics 23, Aug. 1987, 221-239.
  49. "A Guide to Public Sector Debt and Deficits," Economic Policy, 1(1), Nov. 1985, 13-79. For working paper version click here.
  50. "Granger-Causality and policy effectiveness," Economica, 51, May 1984, 151-162. Reprinted in M.J.M. Neuman, ed., Monetary Policy and Uncertainty, Nomos Verlagsgesellschaft, Baden-Baden, 1986, 161-172. For working paper version click here.
  51. *"Controllability and the theory of economic policy, a Further Note," with M. Gersovitz, Journal of Public Economics 24, 1984, 127-129.
  52. *"Government debt in an overlapping generations model with bequests and gifts: A rejoinder," with J. Carmichael, American Economic Review 74(4), 1984, 762-765.
  53. *"Expectations and control theory (La théorie du contrôle optimal en termes d'anticipations rationnelles)," Économie Appliquée 36(1), 1983, 129-156.
  54. "Saddlepoint problems in continuous time rational expectations models: A general method and some macroeconomic examples," Econometrica 52 May 1984, 665-680. For a working paper version click here.
  55. "Real effects of anticipated and unanticipated money: Some problems of estimation and hypothesis testing," Journal of Monetary Economics, Mar. 1983, 207-224. For working paper version click here.
  56. "Predetermined and non-predetermined variables in rational expectations models," Economics Letters, 1982, 49-54. For working paper version click here.
  57. "Real exchange rate overshooting and the output cost of bringing down inflation," with M. Miller, European Economic Review 18, May/Jun. 1982, 85-123.  For working paper version click here.
  58. "Staggered wage setting with real wage relativities: Variations on a theme of Taylor," with I. Jewitt, Manchester School, Sept. 1981, 211-228.
  59. "The superiority of contingent rules over fixed rules in models with rational expectations," Economic Journal 91, Sept. 1981, 647-670. For working paper version click here.
  60. *"Crowding out of private capital formation by government borrowing in the presence of intergenerational gifts and bequests," Greek Economic Review 2, Aug. 1980, 111-142.
  61. "Monetary policy and international competitiveness: The problems of adjustment," with M. Miller, Oxford Economic Papers 33, Jul. 1981, Supplement, 143-144. Also in W.A. Eltis and P.J.N. Sinclair, eds., The Money Supply and the Exchange Rate, Clarendon Press, Oxford, 1981. For working paper version click here.
  62. "Time preference and international lending and borrowing in an overlapping generations model," Journal of Political Economy 89 Aug. 1981, 769-797. For working paper version, click here.
  63. "Issues in controllability and the theory of economic policy," with M. Gersovitz, Journal of Public Economics 15 Feb. 1981.
  64. "Keynesian balance of payments models: Comment," with J. Eaton, American Economic Review 71 Sept. 1981, 784-795.
  65. "The macroeconomics of Dr. Pangloss: A critical survey of the new classical macroeconomics," Economic Journal, Mar. 1980, 34-50. Also translated into Italian as "La Macroeconomica Del Dott. Pangloss: Un Esame Critico Della Nuova Macroecomnomica Classica," in Instituto Nazionale per Lo Studio Della Conguiuntura, Rassegna Della Letteratura Sui Cicli Economici, Le Aspettative Razionali e La Teoria Macroeconomica, 135-161. Reprinted in Paul Whiteley, ed., Economic Policy, Edwar Elgar Publishing Ltd, 1997.  For working paper version, click here.
  66. "Walras' Law and all that," International Economic Review 21 Feb. 1980, 1-16.  For working paper version click here.
  67. "Unemployment-inflation trade-offs with rational expectations in an open economy," Journal of Economic Dynamics and Control, Jun. 1979, 117-141. For working paper version click here.
  68. *"How successful has stabilization policy been in the Netherlands? A Neo-Keynesian perspective," with R.F. Owen, De Economist, Mar. 1979.
  69. "Short-run and long-run effects of external disturbances under a floating exchange rate," Economica, Aug. 1978. For working paper version click here.
  70. *"A didactic note on the transactions demand for money and behavior towards risk," with C.A. Armstrong, Journal of Money, Credit and Banking, Nov. 1978.
  71. *"Some unfamiliar properties of a familiar macroeconomic model," with H. Lorie, Economic Journal, Dec. 1977, 743-754.
  72. "An integration of short-run neo-keynesian analysis and growth theory", De Economist, 125(3), August 1977, pp. 340-359.
  73. "Short-run and long-run disequilibrium in dynamic macromodels," Southern Economic Journal, Jul. 1977.
  74. "'Crowding out' and the effectiveness of fiscal policy," Journal of Public Economics 7, 1977.  For working paper version click here.
  75. "On two specifications of asset equilibrium in macroeconomic models: A note," with G. Woglom, Journal of Political Economy 85(2), 1977.  For an earlier working paper version click here.

OTHER TECHNICAL ARTICLES

  1. "Central Banks: Powerful, Political and Unaccountable?",  British Academy Keynes Lecture, given on 18 September 2014, to be published in the Journal of the British Academy, Open access journal publishing articles drawn from the Academy's lecture programme.
  2. "Why Governments Default", with Ebrahim Rahbari, in Rosa M. Lastra and Lee Buchheit eds. Sovereign Debt Management, Oxford University Press 2014, pp. 257-286.  For working paper version click here.
  3. "The Role of Central Banks in Financial Stability: How Has it Changed?",  in The Role of Central Banks in Financial Stability, World Scientific Studies in International Economics: Volume 30, edited by Douglas D Evanoff, Cornelia Holthausen, George G Kaufman and Manfred Kremer, 2013.
  4. "Debt, Financial Crisis and Economic Growth," with Ebrahim Rahbari. Paper presented at the Conference on Monetary Policy and the Challenge of Economic Growth at the South Africa Reserve Bank, Pretoria, South Africa, November 1-2, 2012, December 2012. In  Monetary Policy and the Challenge of Economic Growth, South African Reserve Bank, Conference Series 2012,  pp.1-51.  To access the  entire volume electronically, please go to  http://www.reservebank.co.za and follow these links: Publications and Notes/Papers/Conference Papers.
  5. "Fiscal Rules in India: Are they Effective?", with Urjit R. Patel, Chapter 21 in Chetan Ghate ed. The Oxford Handbook of the Indian Economy, pp 621-655, Oxford University Press, Oxford, New York, 2012. For working paper version click here.
  6. "The Icelandic banking crisis and what to do about it: The lender of last resort theory of optimal currency areas," with Anne C. Sibert, in Robert Z. Aliber and Gylfi Zoega, eds. Preludes to the Icelandic Financial Crisis, Palgrave Macmillan, 2011, 241-275.
  7. "Greece and the fiscal crisis in the EMU," with Ebrahim Rahbari, published in Greek in Gikas A. Hardouvelis, ed., From the International Crisis to the Greek and Euro Area Crisis: what lies ahead? Ekdotikos Oikos A. A. Libane, Athens, 21 Mar. 2011
  8. "Reversing unconventional monetary policy," Lecture given at the 28th SUERF Colloquium in Utrecht, the Netherlands, 3 Sept. 2009, in the conference volume The Quest for Stability, 2010.
  9. "Monetary economics and the political economy of central banking: Inflation targeting and central bank independence revisited," in Jorge Carrera, ed., Monetary Policy Under Uncertainty; Proceedings of the 2007 Money and Banking Seminar, Banco Central de la Republica Argentina, Buenos Aires, Argentina, 2008, pp. 218-243. For working paper version click here. For a slide presentation based on this paper click here.
  10. "Central banks and financial crises," paper presented at the Federal Reserve Bank of Kansas City' s symposium on Maintaining Stability in a Changing Financial System, Jackson Hole, Wyoming, 21-23 Aug., 2008.
  11. "How the Eurosystem's open-market operations weaken financial market discipline (and what to do about it)," with Anne C. Sibert; in Fiscal Policy and the Road to the Euro, National Bank of Poland, Warsaw, Oct. 2006, pp. 29-58.
  12. "Stabilisation policy in New Zealand: Counting your blessings, one by one," in Bob Buckle and Aaron Drew, eds., Testing Stabilisation Policy Limits in a Small Open Economy Proceedings from a Macroeconomic Policy Forum, Reserve Bank of New Zealand and The Treasury, Oct. 2006, pp. 37-74.
  13. "Excessive budget deficits, a government-abused financial system, and fiscal rules," with Urjit R. Patel, paper presented at the Brookings Institution-NCAER India Policy Forum Second Conference, Delhi, India July 2005. Published in Suman Bery, Barry Bosworth and Arvind Panagariya, eds., India Policy Forum 2005/2006, SAGE Publications, New Delhi/Thousand Oaks/London, 2006, pp. 1-54.
  14. "Nature's blessing or nature's curse: the political economy of transition in resource-based economies," with Akram Esanov and Martin Raiser, in Richard M Auty and Indra de Soysa, eds. Energy, Wealth and Governance in the Caucasus and Central Asia; Lessons not learned, Routledge, London and New York, 2006, pp. 39-56. For an abstract, click here.
  15. "Het Binnenhof en de Raad van Economisch Adviseurs", with Hendrik P. van Dalen, Economisch Statistische Berichten, 16 December 2005.
  16. "Joys and pains of public debt," in P. de Gijsel and H. Schenk, eds., Multidisciplinary Economics: the Birth of a New Economics Faculty in the Netherlands, Springer, the Netherlands, 2005, pp. 209-224.
  17. "To purgatory and beyond; When and how should the accession countries from Central and Eastern Europe become full members of the EMU?" in Fritz Breuss and Eduard Hochreiter, eds., Challenges for Central Banks in an Enlarged EMU, Springer, Vienna and NewYork, 2005, pp. 145-186. For an abstract, click here.
  18. "Should we worry about deflation? Prevention and cure," 2003 McKenna Lecture on International Trade and Economics: Perspective on the Economy, Lowe Institute of Political Economy, Claremont, CA, 2004. For an abstract, click here.
  19. "The return of deflation: what can central banks do?" in Hugh Stevenson, ed., Challenges for Europe, Palgrave Macmillan, Basingstoke, Hampshire, 2004, pp. 46-74. For an abstract click here.
  20. "Corporate governance in developing, transition and emerging market economies," with Charles Oman and Steven Fries, OECD Development Centre Policy Brief No. 23, 2003. For an abstract, click here.  Also available in French as "La gouvernance d’entreprise dans les pays en développement, en transition et les économies émergentes", with Charles Oman and Steven Fries, Centre de Développement de L'Ocde, Cahier de Politique Économique no. 23, 2003.
  21. "The case of privatisation of network utilities," with Maria Vagliasindi, in Gertrude Tumpel-Gugerell and Peter Mooslechner, eds., Structural Challenges for Europe, Edward Elgar, Cheltenham UK, 2003, pp. 355-387.
  22. "EMU or ostrich?," with Clemens Grafe, in H. M. Treasury, EMU study; Submissions on EMU from leading academics, HMSO, London, UK, Jun. 2003, pp. 23-42.
  23. "Capital account liberalization and financial sector development in transition countries," with Anita Taci, in Age F. P. Bakker and Bryan Chapple, eds., Capital Liberalization in Transition Countries: Lessons from the Past and for the Future, Edward Elgar, Cheltenham, UK, 2003, pp. 105-141.
  24. "Reforming EMU's fiscal policy rules; some suggestions for enhancing fiscal sustainability and macroeconomic stability in an enlarged European Union," with Clemens Grafe, in Marco Buti, ed., Monetary and Fiscal Policies in EMU: Interactions and Coordination, Cambridge University Press, 2003, pp. 92-145. For an abstract click here.
  25. "Debt in transition economies: Where is it heading, what can be done about it?" with Ricardo Lago, Revue D'économie Financière, Special Issue, Ten Years of Transition in Eastern European Countries, Achievements and Challenges, 2001, pp. 191-213.
  26. "Central banking and the choice of currency regime in accession countries," with Clemens Grafe, lecture given on 26 Oct. 2000 at the University of Warsaw. Published as the SUERF Studies No. 11, Société Universitaire Européenne de Recherches Financières, Vienna, 2001. Reprinted in Revue D'économie Financière, Special Issue, Ten Years of Transition in Eastern European Countries, Achievements and Challenges, 2001, pp. 287-318.
  27. "Liquidity traps: How to avoid them and how to escape them," with Nikolaos Panigirtzoglou, in Wim F.V. Vanthoor and Joke Mooij, eds., Reflections on Economics and Econometrics, Essays in Honour of Martin Fase, De Nederlandsche Bank NV, Amsterdam, 2001, pp. 13-58.
  28. "Designing a monetary authority," with Anne C. Sibert, in Anthony M. Santomero, Staffan Viotti and Andres Vredin, eds., Challenges for Central Banking, Kluwer Academic Publishers, Boston/Dordrecht/London, 2001, pp. 173-185.
  29. "International financial institutions - Adapting to a world of private capital flows," with Hans Peter Lankes, mimeo, European Bank for Reconstruction and Development, 2001, forthcoming in Dilip Das, ed., Perspectives in Global Finance, Routledge, London & New York.
  30. "Is Iceland an optimal currency area?," in Mar Gudmundsson, Tryggvi Thor Herbertsson and Gylfi Zoega, eds., Macroeconomic Policy; Iceland in an Era of Global Integration, University of Iceland Press, Reykjavik, 2000, pp. 33-55.  For working paper version click here.
  31. "The New Economy and the Old Monetary Economics," Bank of England Quarterly Bulletin 40(2), May 2000, pp. 173-183.
  32. "Financial reforms and economic transition: an overview of the major issues", with Hélène Rey, and Ricardo Lago In Blejer, Mario I. and Skreb, Marko, (eds.) Financial sector transformation: lessons from economies in transition. Cambridge University Press, New York, pp. 1-18. ISBN 9780521640374, 1999.
  33. "Interpreting the ERM crisis: Country-specific and systemic issues," with Giancarlo Corsetti and Paolo Pesenti, Princeton Studies in International Finance No. 84, International Finance Section, Department of Economics, Princeton University, Mar. 1998.
  34. "Aspects of fiscal performance in some transition economies under fund-supported programs," in Gary Saxonhouse and T.N. Srinivasan, eds., Development, Duality, and the International Economic Regime: Essays in Honor of Gustav Ranis, University of Michigan Press, Ann Arbor, Michigan, 1998, pp. 398-451.
  35. *"Uses and Limitations of Public Debt," with  Kenneth M. Kletzer, in Steven Brakman, Hans van Ees and Simon K. Kuipers, eds., Market Behaviour and Macroeconomic Modelling, MacMillan Press Ltd, London, 1998, pp. 275-307.
  36. "Budgetary aspects of stabilization and structural adjustment in India: the painful road to a sustainable fiscal-financial-monetary plan", with Urjit R. Patel, in Mario I Blejer and Teresa Ter-Minassian, eds., Macroeconomic Dimensions of Public Finance; Essays in Honor of Vito Tanzi, 1998. For working paper version, click here.
  37. "Transition issues for the European Monetary Union," with Anne C. Sibert, in De EMU in Breed Perspectief; Preadviezen 1997, Koninklijke Vereniging voor de Staathuishoudkunde, Uitgeverij LEMMA BV, Utrecht, 1997, pp. 1-17. For working paper version click here.
  38. *"Monetary union and the role of automatic stabilizers," with  Kenneth M. Kletzer, in Jean-Olivier Hairault, Pierre-Yves Hénin and Franck Portier eds., Business Cycles and Macroeconomic Stability, Kluwer Academic Publishers, Boston, Dordrecht, London, 1997, pp. 109-147.
  39. "Promoting an effective market economy in a changing world," with Ricardo Lago and Nicholas Stern, in Istvan Székely and Richard Sabot, eds., Development Strategy and Management of the Market Economy 2, Clarendon Press, Oxford, 1997, pp. 11-90. For working paper version click here.
  40. *"Solvency and fiscal correction in India: An analytical discussion", with Urjit R. Patel., in S. Mundle, ed., Public Finance; Policy Issues for India, Oxford University Press, 1997, pp. 30-75.
  41. "Saving and endogenous growth: A survey of theory and policy," in A. Heertje, ed., World Savings, Theory and Policy, Blackwell Publishers, 1993, pp.64-99. For working paper version click here.
  42. "Anomalous speculative attacks on fixed exchange rate regimes: Possible resolutions of the 'Gold Standard Paradox'," with Vittorio U. Grilli, in Paul Krugman and Marcus Miller, eds., Exchange Rates and Currency Bands, Cambridge University Press, Cambridge, U.K., 1991, pp. 140-176. For working paper version click here.
  43. "Reflections on the fiscal implications of a common currency," with Kenneth M. Kletzer, in Alberto Giovannini and Colin Mayer, eds., European Financial Integration, Cambridge University Press, Cambridge, 1991, pp. 221-244.
  44. "Debt neutrality, redistribution and consumer heterogeneity: A survey and some extensions," in W.C. Brainard et al, eds., Money, Macroeconomics and Economic Policy; Essays in Honor of James Tobin, MIT Press, 1991. For working paper version click here.
  45. "Can public spending cuts be inflationary?" in W.H. Buiter, Principles of Budgetary and Financial Policy, MIT Press, 1990. For working paper version click here.
  46. "Some thoughts on the role of fiscal policy in stabilization and structural adjustment in developing countries," in W.H. Buiter, Principles of Budgetary and Financial Policy, MIT Press 1990.  For working paper version click here.
  47. "The right combination of demand and supply policies: The case for a two-handed approach," in H. Giersch, ed., Macro and Micro Policies for More Growth and Employment, Kiel Institute of World Economics, 1988, 305-345. For working paper version click here.
  48. "Fiscal Policy in Open Interdependent Economies," in A. Razin and E. Sadka, eds., Economic Policy in Theory and Practice, Macmillan, London, 1987, 101-144. For working paper version click here.
  49. "Fiscal prerequisites for a viable managed exchange rate regime," in Wisselkoersen in een Veranderende Wereld, Preadvies van de Vereniging voor de Staathuishoudkunde, Stenfert Kroese, Leiden, Antwerpen, 1986, pp. 99-117. For working paper version click here.
  50. "Macroeconomic policy design in an interdependent world economy: An analysis of three contingencies," International Monetary Fund Staff Papers, Sept. 1986, 541-582; also in International Aspects of Fiscal Policies, J.A. Frenkel, ed., University of Chicago Press, 1988.
  51. "Policy evaluation and design for continuous time linear rational expectations models: Some recent developments," in Prices, Competition and Equilibrium, M.H. Peston and R.E. Quandt, eds., 1986, Barnes & Noble Books, 84-108.
  52. "International monetary policy to promote economic recovery," in Monetary Conditions for Economic Recovery, C. van Ewijk and J.J. Klant, eds., Financial and Monetary Policy Studies 11, Martinus Nijhoff Publishers, Dordrecht, 1985.
  53. "Costs and benefits of an anti-Inflationary policy: questions and issues," in V.E. Argy and J.W. Nevile, eds., Inflation and Unemployment: Theory, Experience and Policy-Making, George Allen & Unwin, London, 1985, 11-38.
  54. "Policy decentralization and exchange rate management in interdependent economies," with J. Eaton, in J.S. Bhandari, ed., Exchange Rate Management Under Uncertainty, Cambridge, Mass, MIT Press, 1985, pp. 31-54. For working paper version click here.
  55. "Allocative and stabilization aspects of budgetary financial policy: An inaugural lecture," London School of Economics and Political Science, 1984. Also in W.H. Buiter, Principles of Budgetary and Financial Policy, MIT Press, 1990. For working paper version click here.
  56. *"The trade-off between inflation and unemployment," with Marcus H. Miller, in Out of Work: Perspectives on Mass Unemployment, Department of Economics, University of Warwick, 1984.
  57. "Changing the rules: economic consequences of the Thatcher regime", with M. H. Miller, Brookings Papers on Economic Activity 2, 1983.
  58. "International balance of payments financing and adjustment," with J. Eaton, in G. von Furstenberg, ed., International Money and Credit: The Policy Roles, International Monetary Fund, Washington, DC 1983. For working paper version click here.
  59. "The theory of optimum deficits and debt," in The Economics of Large Government Deficits, Federal Reserve Bank of Boston, Conference Series No. 27, Oct. 1983, 4-69.
  60. "Measurement of the public sector deficit and its implications for policy evaluation and design," International Monetary Fund Staff Papers, June 1983.  For working paper version, click here.
  61. "Monetary and fiscal policy with flexible exchange rates," with William H. Branson, in Jagdeep S. Bhandari and Bluford H. Putnam, with Jay H. Levin, eds., Economic Interdependence and Flexible Exchange Rates, MIT University Press, 1983, pp. 351-381.  For working paper version click here.
  62. "Real exchange rate overshooting and the output costs of bringing down inflation: Some further results," with M. Miller, in Exchange Rates and International Macroeconomics, Jacob Frenkel (ed.), Chicago University Press, 1983.
  63. "The Thatcher experiment: the First Two Years," with M. Miller, Brookings Papers on Economic Activity, 1981, II, pp. 315-367. Translated in abbreviated form as, "I Primi Due Anni Dell Esperimento Thatcher," in Franco Angeli, ed., Problemi del Socialismo/26, Crisi Dello Sviluppo E. Politiche Dell 'Offerta Negli Anni '80, Jan.-Apr. 1983, pp. 52-63.
  64. "Oil, disinflation and export competitiveness: A model of the 'Dutch Disease," with Douglas D. Purvis, in Jagdeep S. Bhandari and Bluford H. Putnam with Jay H. Levin, eds., Economic Interdependence and Flexible Exchange Rates, MIT University Press, 1983, pp. 221-247. For working paper version click here.
  65. "Implications for the adjustment process of international asset risks," in R.G. Hawkins, R.M. Levich and G.G. Wihlborg eds., The Internationalization of Financial Markets and National Economic Policy, Jai Press, Inc., 1983, 69-102. For working paper version click here.
  66. "The role of economic policy after the new classical macroeconomics" in D. Currie, R. Nobay and D.A. Peel eds., Macroeconomic Analysis, Croom Helm, London, 1981, pp. 233-295. For working paper version click here.
  67. "Macroeconomic modelling for policy evaluation and design," in Bank of England, The Usefulness of Macroeconomic Models; papers presented to the Panel of Academic Consultants, No. 14, Mar. 1981, 15-38.  For working paper version click here.
  68. "Fiscal and monetary policies, capital formation and economic activity," with J. Tobin, in G. von Furstenberg, ed., The Government and Capital Formation, Ballinger, Cambridge, MA, 1980.
  69. "Monetary, financial and fiscal policy under rational expectations," International Monetary Fund Staff Papers 27, Dec. 1980, 758-813. For working paper version click here.
  70. "Debt neutrality: A brief review of doctrine and evidence," with J. Tobin, in G. von Furstenberg, ed., Social Security Versus Private Saving, Ballinger, Cambridge, MA, 1979.
  71. "Government finance in an overlapping generations model with gifts and bequests," in G. von Furstenberg, ed., Social Security Versus Private Saving, Ballinger, Cambridge, MA, 1979.
  72. "Optimal foreign exchange market intervention with rational expectations," in J. Martin and A. Smith eds., Trade and Payments Adjustment Under Flexible Exchange Rates, Macmillan, 1979.
  73. "Long-run effects of fiscal and monetary policy on aggregate demand," with J. Tobin, in Monetarism: Studies in Monetary Economics, North-Holland, 1976. For working paper version click here.

ACADEMIC BOOK REVIEWS, COMMENTS AND DISCUSSIONS

  1. "Central banks as economic institutions: a roundtable debate," based on my contribution to the Roundtable: Central Banks as Economic Institutions, at the conference Central Banks as Economic Institutions, organised by the Cournot Centre for Economic Studies, Saint-Gobain Group, Paris, 30 Nov. and 1 Dec. 2006, conference volume, forthcoming.
  2. *"Comment on 'Regional banks and regionalism: A new frontier for development financing' by Robert Devlin and Lucio Castro," in Nancy Birdsall and Liliana Rojas-Suarez, eds., Financing Development, the Power of Regionalism, Center for Global Development, Washington DC, Sept. 2004, pp. 91-95.
  3. "Comment on 'Sovereign bond restructuring: Collective action clauses and official crisis intervention by Kenneth M. Kletzer," in Andrew G. Haldane, ed., Fixing Financial Crises in the Twenty-first Century, Routledge International Studies in Money and Banking, Routledge, London and New York, 2004, pp. 254-257. For working paper version click here
  4. "Discussion of 'Macroeconomic adjustment to structural change' by Gabriel Fagan, Vitor Gaspar and Alfredo Pereira," in György Szapáry, ed., Edward Elgar Publishing, 2003.
  5. "Comment on 'Current account deficits in the Euro Area: The end of the Feldstein Horioka puzzle?' by Olivier Blanchard and Francesco Giavazzi," Brooking Papers on Economic Activity, 2002, II, pp. 187-196.
  6. *"Discussion of 'ERM bandwiths for EMU and after: evidence from foreign exchange options' by Jose M. Campa, P.H. Kevin Chang and Robert L. Leider," Economic Policy 24, Apr. 1997, pp 81-83.
  7. *"Comment on 'Is growth in developing countries beneficial to developed countries?' by Richard N. Cooper," in Annual World Bank Conference on Development Economics, World Bank, Washington DC, 1995, pp. 276-283.
  8. *"Comment on 'The collapse of the Bretton Woods fixed exchange rate regime' by Peter Garbo," in Michael D. Bordo and Barry Eichengreen, eds., A Retrospective on the Bretton Woods System, University of Chicago Press, Chicago, pp.485-493.
  9. *"Comment on 'Growth, external debt and the real exchange rate' by Sweder van Wijnbergen," in Mexico's Search for a New Development Strategy, Westview Press, 1990, pp. 244-250.
  10. *"Comment on J.A. Frenkel, A. Razin and S. Symansky, 'International spillovers of taxation'," in J. Slemrod, ed., International Aspects of Taxation, University of Chicago Press, 1990.
  11. *"Comment on 'Macroeconomic modelling for economic policy' by J.C. Siebrand," in Challenges for Macroeconomic Modelling, W. Driehuis, M.M.G. Fase and H. Den Hartog, eds., North-Holland, Amsterdam, 1988, pp. 137-145.
  12. *"Comment on 'Sterling misalignment and British trade performance' by Charles R. Bean," in Misalignment of Exchange Rates: Effects on Trade and Industry, University of Chicago Press, 1988, pp. 69-75.
  13. *"Comment on 'External borrowing by LDCs: A survey of theoretical issues' by K. Kletzer," in G. Ranis and T. Paul Schultz, eds., The State of Development Economics, , Basil Blackwell, 1988, pp. G13-G16.
  14. *"Comment on Rubinstein and Fershtman," in R.C. Bryant and R. Portes, eds., Global Macroeconomics, Macmillan Press, 1987, pp. 66-72.
  15. *"Comment on 'Fiscal policy and European economic growth' by Paul H. Courant," in R.Z. Lawrence and C.L. Schultze, eds., Barriers to European Growth, A Transatlantic View, The Brookings Institution, Washington, DC, 1987, pp. 492-501.
  16. *"Comment on 'An empirical investigation of the long-run behavior of real exchange rates' by Huizinga," Carnegie-Rochester Conference Series on Public Policy 27 Autumn 1987, 215-223.
  17. *"Comment on 'The role of reserves in the international monetary system' by M. P. Dooley," in M. Posner, ed., Problems of International Money, 1972-85, International Monetary Fund, Washington, DC, 1986, pp. 109-112.
  18. *"The role of economic management," Catalyst 1(1), Spring 1985, 73-86.
  19. *"Comment on 'Real exchange rates in the 1970s' by L. Katseli," in J.F.O. Bilson and R.C. Marston, eds., Exchange Rate Theory and Practice, NBER, University of Chicago Press, 1984, 321-330.
  20. "Comment on 'Some unpleasant monetarist arithmetic' by T. J. Sargent and N. Wallace," in B. Griffiths and G.E. Wood, eds., Monetarism in the United Kingdom, Macmillan, London, 1984, pp. 42-60. For working paper version click here.
  21. *"Comment on 'Exchange rate policy after a decade of floating' by W. H. Branson," in J.F.O. Bilson and R.C. Marston, eds. Exchange Rate Theory and Practice, NBER, University of Chicago Press, 1984, pp. 108-112.
  22. *"Review of 'Rational expectations and econometric practice' by R. E. Lucas and T. J. Sargent," Economic Journal, Jun. 1983, 442-445.
  23. *"Discussion of 'Flexible Exchange Rates and Interdependence' by R. Dornbusch," International Monetary Fund Staff Papers, 30 Mar. 1983, 35-38.
  24. *"Comment on 'The real wage gap and employment' by Paul Krugman," Annales de l'INS?E, 47-48 Jul.-Dec. 1982, 71-80.
  25. *"Discussion of 'Macroeconomic policy and the government financing requirement: A survey of recent developments' by David Currie" in Michael Artis and R. Nobay, eds., Studies in Contemporary Economic Analysis, Vol. 1, Croon Helm, London, 1978.
  26. *"Review of 'The monetary approach to the balance of payments: A collection of research papers by members of the International Monetary Fund'," De Economist, 126(3), 1978, 418-422.

NON-TECHNICAL PUBLICATIONS

  1. "Why fiscal sustainability matters," VoxEU, January 10, 2014.
  2. "Zwaluwen boven de Eurozone," Me Judice, Economen in Debat, 11 October 2011, shortened Dutch version of "Three bits of good news and one piece of bad news for the euro area," Citi Research, Economics, Europe, GLobal Economics View, 24 September 2012.
  3. "Wordt de Eurozone een Roebelzone?,"Me Judice, Economen in Debat, 15 February 2012.
  4. "Wie faalt betaalt: een derde weg voor de Eurozone," with Ebrahim Rahbari, Me Judice, Economen in Debat, 22 September 2011.
  5. "The Debt of Nations: Prospects for Debt Restructuring by Sovereigns and Banks in Advanced Economies," CFA Institute Conference Proceedings Quarterly, Volume 28, Number 3, September 2011, pp. 18-24. For an abstract, click here.
  6. "The implications of intra-euro area imbalances in credit flows," with Ebrahim Rahbari and Juergen Michels, Centre for Economic Policy Research Policy Insight No. 57, August 2011.
  7. "The 'strong dollar' policy of the US: Alice-in-Wonderland semantics vs. economic reality," with Ebrahim Rahbari, VoxEU Commentary, 28 June 2011.
  8. "Global Growth Generators; Moving Beyond Emerging Markets and BRICs", with Ebrahim Rahbari, CEPR Policy Insight No. 55, April 2011.
  9. "Greece and the fiscal crisis in the Eurozone," with Ebrahim Rahbari, CEPR Policy Insight No. 51, Oct. 2010.
  10. "Lessons from the global financial crisis for regulators and supervisors," in Henning Klodt and Harment Lehment, eds., The Crisis and Beyond, Kiel Institute for the World Economy E-Books, Nov. 2009, pp. 57-82.
  11. "Establishing a new macro-economic policy regime," in Anton Hemerijck, Ben Knapen and Ellen van Doorne, eds., Aftershocks,Economic Crisis and Institutional Choice, Amsterdam University Press, Amsterdam, 2009, pp. 122-132.
  12. "Fiscal Sustainability", paper presented at the conference "Financial Regulation and Macroeconomic Stability; Key Issues for the G20", organised by HM Treasury and the Centre for Economic Policy Research on January 31, 2009 at HM Treasury, London. Published in Mathias Dewatripont, Xavier Freitas and Richard Portes eds. Macroeconomic Stability and Financial Regulation: Key Issues for the G20, pp. 79-90, a CEPR e-book, 2009.
  13. "The overwhelming economic case for the United Kingdom adopting the Euro," in Graham Bishop, Willem H. Buiter, Brendan Donnelly and Will Hutton, eds., Britain Should Join the Euro: Essays on the 10th Anniversary of the Launch of the European Single Currency, John Stevens Publisher, London, UK, 2009.
  14. The unfortunate uselessness of most ’state of the art’ academic monetary economics”, VoxEU, 6 March 2009. Also available here.
  15.  "The Icelandic banking crisis and what to do about it: The lender of last resort theory of optimal currency areas," with Anne C. Sibert, CEPR Policy Insight No. 26, Oct. 2008.
  16. "Can central banks go broke?" CEPR Policy Insight No. 24, May 2008.
  17. "Lessons from the 2007 financial crisis"; paper submitted in evidence to the UK Treasury Select Committee in connection with my appearance before the Committee on 13 Nov. 2007; abstract here; published as CEPR Policy Insight No. 18, Dec. 2007.
  18. "Clipping central bankers' wings," Central Banking 43(2), Nov. 2007, pp. 28-32;  abstract here.
  19. "Targets, instruments and institutional arrangements for an effective monetary authority," Seventh L.K. Jha Memorial Lecture, Reserve Bank of India, Oct. 2000, Mumbai, India, with Anne C. Sibert. in L.K. Jha Memorial Lecture Series, Reserve Bank of India, Mumbai, India, 2007,pp. 117 - 146.
  20. "Over goede intenties en de harde wetten van de woningmarkt," with Harry van Dalen, Sylvester Eijffinger, Kees Koedijk, Coen Teulings and Arjen van Witteloostuijn, Tijdschrift voor Politieke Economie 27, 6, 2006, pp. 20-42.
  21. "Voorjaarsnota 2006: de verleiding van een opgaande conjunctuur", with S.C.W. Eijffinger, C.G. Koedijk, C.N. Teulings and A. van Witteloostuijn.  Tweede Kamer der Staten-Generaal, Voorjaarsnota 2006, Advies van de Raad Economisch Adviseurs, Vergaderjaar 2005-2006, 30 560, Nr 3.
  22. "When should the new Central European members join the Eurozone?" with Anne C. Sibert, Bančni vestnik - The Journal for Money and Banking of the Bank Association of Slovenia, Special Issue, Small Economies in the Euro Area: Issues, Challenges and Opportunities, 11/2006, pp. 5-11.
  23. "The ECB and M3: From pillar to post?" with Erik F. Nielsen and Daniel Vernazza, in Goldman Sachs European Weekly Analyst, Issue No: 06/29, 27 Jul. 2006. GS Global Economic Website, Economic Research from the GS Institutional Portal at https://portal.gs.com .
  24. "Eurozone entry of new EU member states from Central Europe: Should they? Could they?" with Anne C. Sibert, in Development & Transition, UNDP-LSE Newsletter 4, Jun. 2006, pp. 16 -19.
  25. "It's a long way to Copenhagen: Turkey's membership of and convergence with the European Union," Background note for comments made on the occasion of the presentation of the World Bank's 2006 Country Economic Memorandum  Promoting Sustained Growth and Convergence with the European Union," presented in Ankara on March 6, 2006 and in Brussels on March 9, 2006. Published as Centre for European Policy Studies Policy Brief No. 96, Mar. 2006
  26. "Dark matter or cold fusion?" Goldman Sachs Global Economics Paper No. 136, Monday 16 Jan. 2006, pp. 1-16.
  27. "Country ownership: a term whose time has gone," remarks prepared for the Development Policy Forum Conditionalitly Revisited, organised by the World Bank, World Bank Conference Center, Paris, France, 5 Jul 2004. Published in Stefan Koeberle, Harold Bedoya, Peter Silarszky and Gero Verheyen, eds., Conditionality Revisited; Concepts, Experiences and Lessons, The World Bank, Washington DC, 2005, pp. 27-32. Also published in Development in Practice 17(4-5), Aug. 2007, pp. 647 - 652. Reprinted in Andrea Cornwall and Deborah Eade, eds, Deconstructing Development Discourse, Buzzwords and Fuzzwords, Practical Action Publishing, Oxfam, Oxford, 2010
  28. Minutes of evidence given to the Economic Affairs Committee of the House of Lords, Tuesday 10 February 2004, in Monetary and Fiscal Policy: Present Successes and Future Problems, Volume 2: Evidence, House of Lords Select Committee on Economic Affairs, 3rd Report of Session 2003-04, HL Paper 176-II, pp. 121-130, Nov. 11, 2004.
  29. "How to reform the Stability and Growth Pact," in Central Banking, Vol XIII, No. 3, February 2003, pp. 49-58.
  30. Minutes of evidence taken before the European Union Committee (Sub-Committee A) of the House of Lords on Tuesday 10 Dec. 2002, in House of Lords, Select Committee on the European Union, Session 2002-03, 13th Report, The Stability and Growth Pact, with Evidence, London, the Stationary Office Limited, March 11 2003.
  31. "Ten commandments for a fiscal rule in the E(M)U," Oxford Review of Economic Policy, Vol. 19, No. 1, Spring 2003, pp. 84-99 For an abstract click here .
  32. "Why Britain should join the euro", with Richard Layard, Christopher Huhne, Will Hutton, Peter Kenen and Adair Turner, Britain in Europe, London, Oct. 2002.
  33. "Opportunities and challenges for Estonia's economic convergence to the EU," with Vanessa Mitchell-Thomson, in Postimees (Estonia's largest daily newspaper), Jul. 2002.
  34. "Globalisation and regional integration; A view from Eastern Europe and the FSU," in House of Lords, Session 2001-02, Select Committee on Economic Affairs, Globalisation, Oral Evidence up to 13 Mar. 2002, pp. 83-96, London, the Stationary Office Ltd.
  35. "Recession and financial crisis: How prepared are we?," forthcoming under the title "Ugly Things Can Happen," in The World Today, May 2001.
  36. *"The case for the euro," with Richard Layard, David Currie, Christopher Huhne, Will Hutton, Peter Kenen, Robert Mundell and Adair Turner, Britain in Europe, 12 Jun. 2000.
  37. "Le Royaume-Uni et l'UEM," Politique Étrangère, 1/1999, pp. 45-62.  English version, "Britain and EMU" here.
  38. *"Weathering the international storm," The Business Economist, Vol 30 No 1, 1999, pp. 13-22.
  39. My examination by the UK Treasury Select Committee regarding my qualifications to be an MPC member (after I had been an MPC member for over a year ...). Minutes of Evidence, Tuesday 16 June 1998.
  40. *"Europa kan Maastricht overleven," ("Europe can survive Maastricht"), Socialisme en Democratie, 53, no. 7/8, 1996, pp. 411-416.
  41. *"Two cheers for EMU," Memoranda by Professor Willem H. Buiter, House of Lords, Select Committee on the European Communities, an EMU of 'Ins and Outs', Volume II, Evidence, pp. 201-205, London HMSO, June 1996, also in European Economic Perspectives, No. 9, July 1996, pp.5-7.
  42. *"Examination of witness, minutes of evidence taken before the European Communities (Sub-Committee A) of the House of Lords, in Select Committee on the European Communities, an EMU of 'Ins and Outs', Volume II, Evidence, pp. 206-212, London, HMSO, June 1996.
  43. "Nederland uit de Verte: Beeld en werkelijkheid van Nederland in het buitenland," ("The Netherlands from a Distance: Appearance and Reality of the Netherlands Abroad"), in Frans Becker, Win van Henekelen, Bart Tromp en Marjet van Zuylen, Nederland in de wereld, de Arbeiderspers, Amsterdam, 1995, pp.23-29.
  44. *"Options for UK fiscal policy," with David Currie, Oxford Review of Economic Policy 9, No. 3, 1993.
  45. *"Antwoord aan de Haas," (reply to de Haas) Economisch Statistische Berichten, May 1992.
  46. "Moeten wij ons zorgen maken over de fiscale voodoo van Maastricht?" Economisch Statistische Berichten, Mar. 1992; English version: "Should we worry about the fiscal numerology of Maastricht?" Yale University Economic Growth Center Discussion Paper No.Mimeo, March 1992.
  47. *"The plain man's guide to fiscal and Financial Policy," with Charles R. Bean, in Conquering Unemployment: The Case for Economic Growth, The Macmillan Press, Ltd., Hampshire, UK, 1989.
  48. *"Some thoughts on the Brady Plan: Putting a fourth leg on the donkey?" with Kenneth Kletzer and T.N. Srinivasan, World Development, 17(10), 1989, 1161-1164.
  49. *"Rewarding the profligate and punishing the prudent and poor: Some recent proposals for debt relief," with T.N. Srinivasan, World Development, 15(3), Apr. 1987, 411-417.
  50. *"Academisch Economisch Onderzoek in Nederland: Productie, Productiviteit en Profilering," Eindrapport van de Verkenningscommissie Economische Wetenschappen (Academic economic research in the Netherlands: Production, productivity and profile," Final Report of the Investigative Committee, Economic Sciences), with F. de Roos, A.P. Barten, H. Daems and J. Snippe, Aug. 1986.
  51. *"The role of economic management," Catalyst 1(1), Spring 1985, 73-86.
  52. *"Public debt and fiscal responsibility," with Olivier J. Blanchard and R. Dornbusch, Centre for European Policy Studies Papers No. 22, 1985.
  53. "Europe: The case for unsustainable growth," with Richard Layard, Giorgio Basevi, Olivier Blanchard, and Rudiger Dornbusch, Centre for European Policy Studies Papers No. 8/9, May 1984. For working paper version click here.
  54. "Macroeconomic prospects and policies for the European Community," with Giorgio Basevi, Olivier Blanchard, Rudiger Dornbusch and Richard Layard, Economics Paper No. 12, Apr. 1983, Commission of the European Communities, Directorate-General for Economic and Financial Affairs; and Centre for European Policy Studies Papers No. 1, Apr. 1983. For working paper version click here.
  55. *"Competitiveness" in House of Commons Select Committee on the Treasury and Civil Service, Memoranda on Monetary Policy, 3 Feb. 1981.

CITIGROUP PUBLICATIONS

  1. "Stumbling Towards Banking Union", Willem H. Buiter, Ebrahim Rahbari and Antonio Montilla, Citi Research, Economics, Global, Global Economics View, 21 October 2014.
  2. "Our Fed Call: Fed Poised For On-Time Or Early Liftoff?" Willem H. Buiter, William Lee, Citi Research, Multi-Asset, North America, US Economics: Market and Policy Comments, 15 August 2014.
  3. "Fed Creates Maginot Line to Defend Against Financial Stability," Willem H. Buiter, William Lee, Michael Anderson and Joe Seydl, Citi Research, Economics, North America, U.S. Economics Market and Policy Comments, 25 July 2014.
  4. "The Long-Run Decline in Advanced-Economy Investment," Willem H. Buiter, Ebrahim Rahbari and Joe Seydl, Citi Research, Economics, Developed Markets, Global, Global Economics View, June 11, 2014. 
  5. "Taking It To The Streets: What the New Vox Populi Risk Means for Politics, the Economy and Markets," Tina M. Fordham, Matthew P. Dabrowski, Willem Buiter, Robert Buckland and Edward L. Morse, Citi GPS: Global Perspectives & Solutions, May 2104.
  6. "How Could The EM Turmoil Afffect The Advanced Economies," Willem H. Buiter, Ebrahim Rahbari, Antonio Montilla and Joe Seydl, Citi Research, Economics, Global, Global Economics View, 17 March 2014.
  7. "Alert: Ukraine-Russian Tensions to Continue Following Crimea Referendum, With Sanctions & Security Concerns Likely to Dominate," Tina M. Fordham, Willem H. Buiter, Edward L. Morse, Seth M. Kleinman, Anthony Yuen and Matthew P. Dabrowski, Citi Research, Multi-Asset, Global, Global Political Insights, 14 March 2014.
  8. "Alert: No Military Confrontation, Modest Sanctions - But Risks Remain: Ukraine, Russia and the New Geopolitical Normal," Tina M. Fordham, Willem H. Buiter and Matthew P. Dabrowski, Citi Research, Politics Global, Global Political Insights, 6 March 2014.
  9. "Escalation of Ukraine-Russia Crisis Increases Global Risk," Tina M. Fordham, Willem H. Buiter and Matthew P. Dabrowski, Citi Research, Politics, Global, Global Political Insights, 3 March 2104.
  10. "Secular Stagnation: Only If We Really Ask For It," Willem H. Buiter, Ebrahim Rahbari and Joe Seydl, Citi Research, Economics, Global, Global Economics View, 13 January 2014.
  11. "Will Banking Union Save EMU?" Willem H. Buiter and Ebrahim Rahbari, Citi Research, Global Economic Outlook and Strategy, 2 December 2013.
  12. "Overview - Marginal Revolution," Willem H. Buiter,  Guillermo Mondino and Nathan Sheets, Citi Research, Global Economic Outlook and Strategy, 2 December 2013.
  13. "What to Expect from Abenomics: Four Arrows to Target Four Challenges," Citi GPS: Global Perspectives & Solutions, October 2013, Willem H. Buiter and Ebrahim Rahbari.
  14. "Forward Guidance: More than Old Wine in New Bottles and Cheap Talk?" Citi Research, Economics, Global Economics View, Willem H. Buiter, 25 September 2013.
  15. "The Euro Area Crises Are by No Means Over," Citi Research, Economics, Global, Global Economics View, Willem H. Buiter and Ebrahim Rahbari, 11 June 2013.
  16. "Europe: The light at the end of the tunnel is still two or three years away, Citi GPS (Global Perspectives and Solutions), Opinion Articles, 10 May 2013.
  17. "Cyprus is systemically important: it changed the rules of the game," Willem H. Buiter, Ebrahim Rahbari, Giada Giani and Juergen Michels, Citi Research, Economics, Global, Global Economics View, 10 April 2013.
  18. "Little credit where credit is due: weakness of credit growth and domestic demand to continue in most advanced economies," Ebrahim Rahbari, Willem Buiter and Antonio Montilla, Citi Research, Economics, Global, Global Economics View, 27 March 2013.
  19. "The euro area recovery starts with Cyprus, "Willem H. Buiter, Ebrahim Rahbari, Juergen Michels, Giada Giani and Guillaume Menuet, Citi Research, Economics, Global, Global Economics View, 18 March 2013.
  20. "More Expansionary Monetary Policy Weakens the Currency: Get Used to It", Willem H. Buiter and Ebrahim Rahbari, Citi Research, Economics, Global, Global Economics View, 15 February 2013.
  21. "New and Old Risks in the Euro Area," Willem H. Buiter and Ebrahim Rahbari, Citi Research, Economics, Global, Global Economics View, 6 February 2013.
  22. "Debt of Nations: Mr. Micawber’s Vindication: Causes and Consequences of Excessive Debt," Willem H. Buiter and Ebrahim Rahbari, Citi GPS, Global Perspectives & Solutions, November 2012.
  23. "Target2 Redux: The simple accountancy and slightly more complex economics of Bundesbank loss exposure through the Eurosystem," Citi Research, Economics, Europe, Global Economics View, 16 October 2012.
  24. "Three bits of good news and one piece of bad news for the euro area," Citi Research, Economics, Europe, GLobal Economics View, 24 September 2012.
  25. "Three unintended consequences of banking union," Citi Research, Economics, Europe, Global Economics View, August 2, 2012.
  26. "Did Summit Avoid Nadir?," with Ebrahim Rahbari, Juergen Michels and Guillaume Menuet, Citi Research,  Economics, Europe, Global Economics View, 2 July 2012.
  27. "What's Next for Spain and Italy?" with Ebrahim Rahbari, Citi Research, Global Economics View, 25 June 2012.
  28. "Race to save the euro would follow 'Grexit'," Citi GPS: Global Perspectives & Solutions | Opinion, 22 June 2012.
  29. "Greek Elections, Tale II: Euro Vision or Drachma Nation?" with Tina Fordham and Ebrahim Rahbari, Citi Research, Global Political Insights, 15 June 2012.
  30. "The New Euro zone Political Geometry: What Economic and Market Implications?," with Tina M. Fordham and Jonathan Stubbs, Citi Research, Global Political Insights, 14 May 2012.
  31. "'Grexit' Back in the Spotlight," with Ebrahim Rahbari, Citi Economics, Global Economics, Global Economics Flash, 10 May 2012.
  32. "What more can central banks do to stimulate the economy?" with Ebrahim Rahbari, Citi Economics, Global Economics, Global Economics View, 9 May 2012.
  33. "Spain: Prospects and Risks," Citi Economics, Global Economics, Global Economics View, 28 March 2012.
  34. "Looking into the deep pockets of the ECB," with Ebrahim Rahbari, Citi Economics, Global Economics View, 27 February 2012.
  35. "Why does the ECB not put its mouth where its money is? The ECB as lender of last resort for Euro Area sovereigns and banks," Citi Economics, Global Economics, Global Economics View, 27 February 2012.
  36. "Is the Eurozone At Risk of Turning Into The Rouble Zone?," with Ebrahim Rahbari, Citi Economics, Global Economic Outlook and Strategy, 22 February 2012, pp. 6 - 11.
  37. "Is the Eurozone at Risk of Turning into the Rouble Zone?" Citi Economics, Global Economics View, 13 February 2012.
  38. "Rising Risks of Greek Euro Area Exit," with Ebrahim Rahbari, Citi Economics, Global Economics View, 6 February 2012.
  39. "What Happens if the Euro Collapses?," Citi GPS: Global Perspectives & Solutions, 8 December 2011.
  40. "Will the December 9th Deal Be Enough?," Citi Economics, Global Economics View, 5 December 2011.
  41. "EMU Crisis Outlook: Lender of Last Resort on the Way," with Ebrahim Rahbari, Juergen Michels and Guillaume Menuet, Citi Economics, Global Economics View, 28 November 2011.
  42. "Greek Spanner in Euro Works," with a long list of co-authors, Citi Macro Analysis, Equities, 1 November 2011.
  43. "Why we should not panic if deep Greek sovereign debt restructuring triggers CDS," with Ebrahim Rahbari, Citi Economics, Global Economics View, 26 October 2011.
  44. "Can Sovereign Debt Insurance by the EFSF be the 'Big Bazooka' that Saves the Euro?" with Ebrahim Rahbari, Citi Economics, Global Economics View, 18 October 2011.
  45. "Trade Transformed: The Emerging New Corridors of Trade Power," with Ebrahim Rahbari, Citi GPS: Global Perspectives & Solutions, 18 October 2011.
  46. "Euro Area: Still Too Early For A 'Grand Plan'," with Juergen Michels, Giada Giani and Ebrahim Rahbari, Citi Economics, Europe, 28 September 2011.
  47. "A Greek Exit from the Euro Area: A Disaster for Greece, a Crisis for the World," Citi Economics, Global Economics View, 13 September 2011. 
  48. "The future of the euro area: fiscal union, break-up or blundering towards a 'you break it you own it Europe'," with Ebrahim Rahbari, Citi Economics, Global Economics View, 9 September 2011.
  49. "Europe: Fear and Panic Make Poor Counsellors," Citi Economics, Global Economics View, 12 August 2011.
  50. "Poles Apart: Sticking plaster policymaking is the most likely scenario in a polarized world," with Tina Fordham, Citi Global Research, Global Political Insights, 10 August 2011.
  51. "The ABC of the US Triple-A Downgrade and of Others to Come," Citi Economics, Global Economics View, 9 August 2011.
  52. "Why Spain and Italy are under attack and how to defend them," Citi Economics, Global Economics View, 3 August 2011.
  53. "Navigating the US Fiscal Swamp: even if we don't fall in, it may not be pretty," with Ebrahim Rahbari, Citi Economics, Global Economics View, 28 July 2011.
  54. "Essay: Water as Seen by an Economist," Citi Global Thematic Investing Research, Global Themes Strategy, Thirsty Cities -Urbanisation to Drive Water Demand, 20 July 2011.
  55. "Buying Time for the Euro: A Proposal," with Juergen Michels, Ebrahim Rahbari and Giada Giani, Citi Economics, Global Economics View, 20 July 2011.
  56. "TARGETing the wrong villain: a reply," with Ebrahim Rahbari and Juergen Michels, Citi Economics, Global Economics View, 5 July 2011.
  57. "Trade Transformed - Following the Rise of EM Trade until 2050," with Ebrahim Rahbari, Citi Economics, Global Economic Outlook and Strategy, Global Economics Essay, 22 June 2011.
  58. "TARGETing the wrong villain: Target2 and intra-Eurosystem imbalances in credit flows," Citi Economics, Global Economics View, 9 June 2011.
  59. "Accountability of the Bank of England," Citi Economics, Global Economics View, 1 June 2011.
  60. "The ‘Strong Dollar’ Policy of the US: Alice-in-Wonderland Semantics vs. Economic Reality," (long version), with Ebrahim Rahbari, Citi Economics, Global Economics View, 26 May 2011.
  61. "Chief Economist Essay — The ‘Strong Dollar’ Policy of the US," (short version), with Ebrahim Rahbari, Citi Economics, Global Economic Outlook and Strategy
    25 May 2011.
  62. "Global growth generators: Moving beyond emerging markets and BRIC," with Ebrahim Rahbari, Citi Economics, Global Economics View, 21 Feb. 2011.
  63. "ELA revisited: A clarification," with Ebrahim Rahbari and Juergen Michels, Citi Economics, Global Economics View, 11 Feb. 2011.
  64. "ELA: An emperor without clothes?," with Ebrahim Rahbari and Juergen Michels, Citi Economics, Global Economics View, 21 Jan. 2011.
  65. "The debt of nations," with Ebrahim Rahbari, Juergen Michels and Giada Giani, Citi Economics, Global Economics View, 7 Jan. 2011.
  66. Citigroup Chief Economist essay: "Sovereign debt crisis update," with Ebrahim Rahbari, Citi Economics, Global Economic Outlook and Strategy, 29 Nov. 2010.
  67. "The great deflation: Lessons from Japan for the world," with Kiichi Murashima and Ebrahim Rahbari, Citi Economics, Global Economics View, 11 Nov. 2010.
  68. "Japan: Is there an exit from the great deflation," (short version), with Kiichi Murashima and Ebrahim Rahbari, Citi Economics, Global Economics View,, 28 Oct. 2010.
  69. "Is sovereign default 'unnecessary, undesirable and unlikely' for all advanced economies?" (short version), with Ebrahim Rahbari, Citi Economics, Global Economic Outlook and Strategy, 22 Sept. 2010.
  70. "Is sovereign default 'unnecessary, undesirable and unlikely' for all advanced economies?" (long version), with Ebrahim Rahbari, Citi Economics, Global Economics View , 16 Sept. 2010.
  71. "Games of chicken between the monetary and fiscal authority: Who will control the deep pockets of the central bank?" (long version) , Citi Economics, Global Economics View , 21 Jul. 2010.
  72. "Games of Chicken Between the monetary and fiscal authority: Who will control the deep pockets of the central bank?" (short version) , Citi Economics, Global Economics View , 21 Jul. 2010.
  73. "Sovereign liquidity facility: Transfer europe or bank recapitalisation fund? What is the EFSF meant to be?," Citi Economics, Global Economics View, 23 Jun. 2010.
  74. "Can the European Stabilisation Mechanism save the monetary union?" (long version), Citi Economics, Global Economics View, 20 May 2010.
  75. "Can the European Stabilisation Mechanism save the monetary union?" (short version), Citi Economics, Global Economics View, 19 May 2010.
  76. "Greek sovereign debt restructuring delayed but not avoided for long," Citi Economics, Global Economics Flash, 5 May 2010.
  77. "Sovereign debt problems in advanced industrial countries," Citi Economics, Global Economics View, 26 Apr. 2010.
  78. "Prospects for household consumption growth in China," with Minggao Shen, Citi Economics, Global Economics View, 21 Apr. 2010.
  79. Citigroup Chief Economist essay: "Is China blowing bubbles," with Minggao Shen, Global Economics Focus, 24 Mar. 2010.
  80. "Don't raise the inflation target, remove the zero bound on nominal interest rates instead," Citi Economics, Global Macro View, 5 Mar. 2010.
  81. Citigroup Chief Economist essay: "Getting the global recovery right: Fiscal balances, fiscal incentives and key relative prices," Citi Economics, Global Economic Outlook and Strategy, 24 Feb. 2010.

EDITED VOLUME

    International Economic Policy Coordination, with R. Marston, Cambridge University Press, 1984.

UNPUBLISHED PAPERS

  1. "Target2 Redux: The simple accountancy and slightly more complex economics of Bundesbank loss exposure through the Eurosystem," with Ebrahim Rahbari, Centre for Economic Policy Research Discussion Paper No 9211, November 2012.
  2. "Excessive debt in rich nations: what happens when sovereigns, households and banks deleverage at the same time?" The Debt of Nations Revisited, Lecture 1. The Frederico Caffè Lectures, December 13-14, 2011, Rome.
  3. "The Central Bank as Quasi-Fiscal Player; Theory and Applications," The Debt of Nations Revisited, Lecture 2. The Frederico Caffè Lectures, December 13-14, 2011, Rome.
  4. "Government Budget Deficits in Large Open Economies," with Anne C. Sibert, May 9, 2011.
  5. "Is there a case for a further coordinated fiscal stimulus??" IMAG meeting in New York City on 16 and 17, September 2009, on the theme: “Are the coordinated stimulus plans working and are they effective? Should we continue with fiscal stimulus? Are there other approaches to aggregate demand management?
  6. "Lessons from the financial crisis for social democrats," background paper for the Dr. J.M. Den Uyllezing, de Rode Hoed, Amsterdam, 15 Dec 2008.
  7. "Lessons from the North Atlantic financial crisis ," paper presented at the conference "The Role of Money Markets", jointly organised by Columbia Business School and the Federal Reserve Bank of New York, 29-30 May 2008.
  8. "How robust is the new conventional wisdom in monetary policy? The surprising fragility of the theoretical foundations of inflation targeting and central bank independence," Paper presented at the 2006 Central Bank Governors' Symposium "Challenges to Monetary Theory," Bank of England, 23 Jun. 2006 and mimeo, European Institute, London School of Economics and Political Science, June 2006.
  9. "No bricks without straw: A critique of Ravi Kanbur' s modest proposal for introducing development outcomes in IDA allocation procedures" note prepared for the meeting organised by the Initiative for Policy Dialogue on the CPIA and Aid Allocation, Columbia University, 4 Apr 2007 and mimeo, European Institute, London School of Economics and Political Science, Mar. 2007.
  10. "Monetary economics and the political economy of central banking: The twin threats of sloppy analysis and institutional hubris," background paper for a lecture given at the XI Meeting of the Research Network of Central Banks of the Americas, Buenos Aires, 22 - 24 Nov. 2006.
  11. "Rethinking inflation targeting and central bank independence," background paper for an Inaugural Lecture for the Chair of European Political Economy in the European Institute at the London School of Economics and Political Science, 26 Oct 2006. For a shorter version of the paper click here.
  12. "Prospects for global inflation," mimeo, European Institute, London School of Economics and Political Science, Oct. 11, 2006.
  13. "Threats to the orderly resolution of global imbalances: trade disputes, abrupt corrections of global asset market anomalies, and past, present and future monetary policy errors by the Fed," mimeo, European Institute, London School of Economics and Political Science, Oct. 11, 2006.
  14. "The inflation criterion for eurozone membership: What to do when you fail to meet it," with Anne C. Sibert, background paper for a panel discussion on Central Banking and EU Enlargement sponsored by the Central Bank of Turkey, Annual Meeting of the Turkish Economic Association, 12 Sept. 2006 and mimeo, European Institute, London School of Economics and Political Science, Sept. 2006.
  15. "Beauties and the beast; when will the new EU members from central and eastern europe join the Eurozone?," with Anne C. Sibert, mimeo, London School of Economics and Political Science, May 2006.
  16. "The elusive welfare economics of price stability as a monetary policy objective: Why new Keynesian central bankers should validate core inflation," European Central Bank Working Paper Series No. 609, Apr. 2006.
  17. "What accounts for the bias in the inflation targeting performance of the Bank of England?" mimeo, Universiteit van Amsterdam. February 2005.
  18. "Challenges for Europe," remarks at the launch of Hugh Stephenson, ed., Challenges for Europe Palgrave MacMillan, 2004, London School of Economics and Political Science, 6 Dec. 2004 and mimeo, Office of the Chief Economist, European Bank for Reconstruction and Development.
  19. "En attendant Godot? Financial instability risks for countries targeting Eurozone membership," paper presented at the CEPR/ESI Eighth Annual Conference: EMU Enlargement to the East and the West, Magyar Nemzeti Bank, Budapest, Hungary, 24-25 Sept. 2004.
  20. "What have we learnt from fifteen years of transition in Central and Eastern Europe?" paper prepared for the International Policy Conference on Transition Economies, Hanoi, Vietnam, 31 May and 1 Jun. 2004 and mimeo, Office of the Chief Economist, European Bank for Reconstruction and Development, Jul. 2004.
  21. "Transition and sustainable growth in the early transition countries: The role of the private sector in poverty reduction," Early Transition Countries Strategic Review Meeting, mimeo, Office of the Chief Economist, EBRD, 30 Jun. 2004.
  22. "Helicopter money: Irredeemable fiat money and the liquidity trap," NBER Working Paper No. W10163, Dec. 2003. For an abstract, click here . For an appendix on a cash-in-advance version of the representative agent model, click here. For an appendix on the continuous-time version of the model, click here . A more recent, shorter version, can be found here "Helicopter money: irredeemable fiat money and the liquidity trap; Or: is money net wealth after all?"
  23. "Cross-border tax externalities: Are budget deficits too small?" with Anne C. Sibert, NBER Working Paper No. W10110, Nov. 2003, revised Oct. 2005. For an abstract, click here.
  24. "Deflation: Prevention and cure," NBER Working Paper W9623, Apr. 2003. For an abstract, click here. For a technical appendix, click here .
  25. "What should the multilateral development banks do?," with Steven Fries, European Bank for Reconstruction and Development Working Paper No. 74, Jun. 2002. For an abstract click here. For the French version see: Buiter Willem et Fries Steven, "Quelle devrait être la mission des banques multilatérales de développement?", Revue d'économie du développement, 2002/1 Vol. 16, p. 171-204. DOI : 10.3917/edd.161.0171
  26. "Capital flight and capital outflows from Russia: Symptom, cause and cure," with Ivan Szegvari, European Bank for Reconstruction and Development Working Paper No. 73, Jun. 2002. For an abstract click here.
  27. "Blended finance and subsidies: An economic analysis of the use of grants and other subsidies in project finance by multilateral development banks," with Mark Schankerman, European Bank for Reconstruction and Development, mimeo, Jun. 2002. For an abstract, click here.
  28. "Spreads on local currency loans vs spreads on hard currency loans," mimeo, European Bank for Reconstruction and Development, Nov. 2001.
  29. ""Globalisation and Regional Integration; A View from Eastern Europe and the FSU", in House of Lords, Session 2001-02, Select Committee on Economic Affairs,Globalisation, Oral Evidence up to 13 March 2002, pp. 83-96, London, the Stationary Office Ltd.
  30. "Comments on Reforming Britain's economic and financial policy; Towards greater economic stability by HM Treasury," presented at the launch of the volume at H.M. Treasury, mimeo, 5 Dec. 2001.
  31. "No pain, no gain? The simple analytics of efficient disinflation in open economies," with Clemens Grafe, mimeo, European Bank for Reconstruction and Development, Sept. 2001. For an abstract, click here .
  32. "The liquidity trap in an open economy," mimeo, European Bank for Reconstruction and Development, July 2001. For the Figures, click here.
  33. "The fallacy of the fiscal theory of the price level, again," Bank of England Working Paper Series No. 141, July 2001. For an abstract, click here .
  34. "Exchange rate regimes for accession countries," address given at a luncheon hosted by Deutsche Bank at the EBRD Annual General Meeting in Riga, Latvia, on 21 May 2000.
  35. "Liquidity traps: Gesell's solution," with Nikolaos Panigirtzoglou, mimeo, European Bank for Reconstruction and Development, May 2001. For the Figures, click here.
  36. "Money matters: The effects of relative price changes, margin changes and productivity changes on inflation and the price level," mimeo, Bank of England, Mar. 2000.
  37. "Monetary misconceptions: New and old paradigmata and other sad tales," paper expanding a speech at the Aberdeen Chamber of Commerce, 27 Oct. 1999.
  38. "The fallacy of the fiscal theory of the price level," NBER Working Paper No. W7302, Aug. 1999 and CEPR Discussion Paper No. 2205, Aug. 1999. For an abstract click here.
  39. "Liquidity traps: How to avoid them and how to escape them," with Nikolaos Panigirtzoglou, mimeo, Bank of England, March 1999, NBER Working Paper No. W7245, Jul. 1999 and CEPR Discussion Paper No. 2203, Aug. 1999. For the Figures and Tables click here. For an abstract click here.
  40. "The concept and measurement of domestically generated inflation," mimeo, University of Cambridge, March 1998.
  41. "The young person's guide to neutrality, price level indeterminacy, interest rate pegs, and fiscal theories of the price level," NBER Working Paper No. W6396, Feb. 1998 and CEPR Discussion Paper No. 1799, Mar. 1998.
  42. *"Maastricht on its head? A neoclassical model of international public debt spillovers among distorted economies," with Anne C. Sibert, mimeo, University of Cambridge, Mar. 1998.
  43. "Measuring fiscal sustainability," mimeo, University of Cambridge, Aug. 1995.
  44. "A center-periphery model of monetary coordination and exchange rate crises," with Giancarlo Corsetti and Paolo Pesenti, NBER Working Paper No. 5140, June 1995.
  45. *"Economic integration, scale effects, market structure and growth," mimeo, Faculty of Economics and Politics, University of Cambridge, Oct. 1994.
  46. *"International portfolio diversification, regional and global growth and real interest rates," mimeo, Faculty of Economics and Politics, University of Cambridge, Oct. 1994.
  47. "Indian public finance in the 1990s: Challenges and Prospects", with Urjit R. Patel.  Economic Growth Center, Yale University, Discussion Paper No. 706, December 1993.
  48. *"Stabilization and structural adjustment in Peru," mimeo, June 1993.
  49. "Public debt in the USA; How much, how bad and who pays?," Economic Growth Center Discussion Paper No. 684, Mar. 1993.
  50. "Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt," with Kenneth M. Kletzer, NBER Working Paper No. 4076, May 1992.
  51. "Consistency checks on the design of fiscal, financial and monetary policy," mimeo, Yale University, Revised Jan. 1991 and Oct. 1993, with QPFISMO, (a spreadsheet programme in Quattro Pro to evaluate the consistency of fiscal, financial and monetary plans) and FISMO, (a brief blurb). The spreadsheet is in Quattro Pro, not in ADOBE PDF format, so you will have to save it and then open it in your spreadsheet programme.
  52. "Rational speculative bubbles in an exchange rate target zone," with Paolo Pesenti, NBER Working Paper, No. 3467, Oct. 1990, revised June 1993.
  53. "Fiscal policy, interdependence and efficiency," with Kenneth M. Kletzer, NBER Working Paper No. 3328, Apr. 1990. For working paper version click here.
  54. *"Does an improvement in the trade balance or the current account at full employment require a depreciation of the real exchange rate?" in The State and the Private Enterprise in a Global Society, NIRA, Tokyo, Sept. 1988, pp. 71-152.
  55. "The current global economic situation, outlook and policy options," Centre for Economic Policy Research Discussion Paper No. 210, Nov. 1987.
  56. "Granger-causality and policy ineffectivenesss: A rejoinder," NBER Technical Working Paper No. 61, October 1986.
  57. "Macroeconomic responses by developing countries to changes in external economic conditions," NBER Working Paper No. 1836, Apr. 1986.
  58. "Measuring aspects of fiscal and financial policy", NBER Working Paper No. 1332, Apr. 1984.
  59. "Deficits, crowding out and inflation: The simple analytics," London School of Economics, Centre for Labour Economics, Discussion Paper No. 143, Dec. 1982.
  60. "On the adequacy and inadequacy of Keynesian balance-of-payment theory: A rejoinder," with J. Eaton, London School of Economics, Centre for Labour Economics, Discussion Paper No. 138, Nov. 1982.
  61. *"A program for solving and simulating discrete time linear rational expectations models," with R. Dunn, London School of Economics, Centre for Labour Economics, Discussion Paper No. 127, May 1982.
  62. "A note on the solution of a two-point boundary value problem frequently encountered in rational expectations models," University of Bristol, Department of Economics Discussion Paper No. 101/01, May 1981.
  63. *"The Formulation of Economic Policy: Its Uses and Limitations," Memorandum for The Select Committee on The Treasury and Civil Service," Feb. 1980.
  64. "Feedback and the use of current information: The use of general linear policy rules in rational expectations models," NBER Working Paper No. 335, Apr. 1979.
  65. *"Interest rates and expected inflation: A note," mimeo, Jan. 1977.
  66. *"Capacity constraints, government financing and the short-run and long-run effects of fiscal policy," mimeo, 1976.
  67. *"Financial stocks and flows and the determination of short-run and long-run equilibrium in an open economy," Working Papers in International Economics, Princeton University, July 1976.
  68. "Economic Policy in Short-Run Models and in Long-Run Equilibrium; A Theoretical Framework and Some Applications", Econometric Research Program Research Memorandum No. 192, December 1975.
  69. "The long-run effects of fiscal policy",  Princeton University  Department of Economics Econometric Research Program  Research Memorandum No.  187, October 1975.

REFLECTIONS,RUMINATIONS, RANTS AND RAVES:

Letters to the Editor, Editorials, Op-Ed pieces, unpublished lectures, presentations, interviews and other odds and ends

  1. "Globalisation under threat, warns Citi economist", Bangkok Post Business, September 29, 2014.  See also here.
  2. "The Fed's bad manners risk offending foreigners," (NOT my title!), Financial Times, Opinion, February 4, 2014.
  3. "Secular stagnation risk for EU and Japan," Financial Times, Markets Insight, September 23, 2013.  Should have been EA (for euro area) rather than EU, but editors ....
  4. "Eurozone crisis demands swift debt restructuring," Financial Times, Markets Insight, May 8, 2013.
  5. "Euro faces exit of the strong"," (bad title, not mine!) Financial Times, Markets Insight, October 15, 2012.
  6. "Race to save euro will follow 'Grexit'," Financial Times, Markets Insight, June 21, 2012.
  7. "Greece far from safe even after debt swap," with Ebrahim Rahbari, Financial Times, February 13/14, 2012.
  8. "The terrible consequences of a eurozone collapse," Financial Times, December 7, 2011.
  9. "EFSF needs bigger bazooka to maximise its firepower," Financial Times, October 31, 2011.
  10. "Blundering towards a 'You Break it You Own it' Europe," Financial Times, August 1, 2011.
  11. "Three steps to survival for Euro Zone," Wall Street Journal Europe, Agenda, 10 Dec. 2010.
  12. "Bail-out that will damage Bank's credibility," with Anne C. Sibert, Financial Times, Comments & Analysis page, Comment, 16 Sept. 2007.
  13. "Three steps to calm the storm," with Anne C. Sibert, Financial Times, Comments & Analysis page, Comment, 6 Sept. 2007.
  14. "Put the NHS out of its misery and allow competition," with Anne C. Sibert, Daily Telegraph, Business News, Comment, 3 Sept. 2007.
  15. "How to starve the terrorists of funds: legalise all drugs," Financial Times, Comments & Analysis page, Comment, 7 Aug. 2007.
  16. "The Folly of the Fed or: Why is the Fed so hardcore?" in Maverecon, my blog, which can be found here.
  17. "A new chance to raise gilt issuance," with Ros Altmann and Jon Moynihan, Financial Times, Leaders & Letters page, 26 Jun. 2007.
  18. "EU governments are stepping off the streetcar," Financial Times, Leaders & Letters page, Monday, June 11, 2007.
  19. "A European constitution must be approved by referendum," Financial Times, Leaders & Letters page, Tuesday, 5 Jun. 2007.
  20. "Global imbalances," Powerpoint presentation to introduce a debate on 'Global Imbalances' on the occasion of the award to Hélène Rey of the 2006  Premio German Bernacer de Economia Monetaria" for the best European Monetary Economist under 40, Bank of Spain, Madrid, Spain, 21 May 2007.
  21. "The browning of Chindia," Mint, daily business newspaper published by India's HT Media Ltd in association with The Wall Street Journal,in New Delhi and Mumbai, Views, 12 Apr. 2007.
  22. "Too many cheers for Chindia," Mint, daily business newspaper published by India's HT Media Ltd in association with The Wall Street Journal,in New Delhi and Mumbai, Views, 11 Apr. 2007.
  23. "IMF made political recommendations outside its remit," Financial Times, Leaders & Letters page, Monday, 12 Mar. 2007.
  24. "High degree of ECB independence in securities sector is undesirable," Financial Times, Leaders & Letters page, Friday, 19 Jan. 2007.
  25. "Let us debate whether the UK can be financed with taxes that do not exceed 33 per cent of GDP," with Anne C. Sibert, Financial Times, Leaders & Letters page, 1 Nov. 2006.
  26. "A wave of unilateral "euro-isations" would confound the EU's mean-spirited legal nitpickers," with Anne C. Sibert, comment on Georgi Angelov, " How to gate-crash the eurozone," Europe's World, Autumn Issue, 2006.
  27. "UK facing three-pronged assault on its labour market flexibility," Financial Times, Leaders & Letters page, 28 Sept. 2006.
  28. "Lithuania exclusion from eurozone violates spirit of the entry treaty," with Anne Sibert , Financial Times, Leaders & Letters page, 19 May 2006.
  29. "Europe must relax its inflation test for euro entrants," with Anne C. Sibert, Financial Times, Comment & Analysis/Comment page, May 4, 2006.
  30. "Minimum wage does not correct a distortion; it is a distortion," Financial Times, Leaders & Letters page, 28 Mar. 2006.
  31. "New MPC member must be professional economist," Financial Times, Leaders & Letters page, 25/26 Feb. 2006.
  32. "Official response to low yields is like hunting tigers with pea-shooter," Financial Times, Leaders & Letters page, 26 Jan. 2006.
  33. "Heads I win, tails I win' way to seek higher yields," Financial Times, Leaders & Letters page, 16 Jan. 2006.
  34. "The OECD's response to soaring oil prices must be heavily qualified with regard to the output gap," (not my title!), Financial Times, Leaders & Letters page, 9 Sept. 2005.
  35. "The UK and the Euro," paper by Chris Mulhearn and Howard R. Vane in The World Economy, Vol. 28, No. 2, February 2005, pp. 243-258. The article draws on and quotes from interviews with Patrick Minford and myself.
  36. "Right to free inquiry trampled," Financial Times, Leaders & Letters page, 19/30 Mar. 2005.
  37. "The Failure of Cancun," Financial Times Leaders and Letters, 16 Sept. 2003, with slight edits, under the heading "If anything is to to rescued from Cancún, politics must take precedence over economics". Note: not my heading. It doesn't make sense to me either.
  38. "Obituary of Professor James Tobin," The Independent, 14 Mar. 2002.

VIDEO RECORDINGS, WEBCASTS AND OTHER FLUFF

  1. House of Lords EU Sub-Committee A (Economic and Financial Affairs) Tuesday 18 June 2013, Committee Room 3, Meeting started on Tuesday 18 June at 10.35am. Ended at 12.25pm, Genuine Economic and Monetary Union and its Implications for the UK, witnesses: Professor Willem Buiter, Chief Economist, Citigroup and Dr Holger Schmieding, Chief Economist, Berenberg Bank
    Dr Federico Steinberg, Senior Analyst Elcano Royal Institute, Madrid.
    For a transcript of the hearings click here.
  2. House of Lords EU Sub-Committee A (Economic and Financial Affairs, and International Trade), The Future of Economic Governance in the European Union, Committee Room 3, 9 Dec. 2010, 2 pm. - 3.17pm., witness: Professor Willem Buiter, Chief Economist, Citigroup.
    Archived video.
    Transcript of the evidence session.
  3. On Nov. 25, 2010 the New Economic School in Moscow organised the first in a series of Guest Lectures at the Polytechnic Museum supported by Ernst & Young. Willem Buiter, Chief Economist of Citi talked about "Global Risks and Perspectives: What to Expect from Currency Wars?" The presentation of the lecture (translated into Russian) is published at the NES SlideShare account, the video of it is posted at the NES YouTube account. It helps if you know Russian. For those who have not mastered the language of Pushkin, here is another link to the video with a language button below the screen (on the right-hand side) allowing you to switch from Russian to English and back.