Kenneth Rogoff

Hassan Afrouzi · Marina Halac · Kenneth Rogoff · Pierre Yared

Post-pandemic inflation across advanced economies rose to levels not seen since the early 1980s, reviving interest in central bank credibility. The standard quantitative macro models used to interpret …

Jeremy Bulow · Kenneth Rogoff

This 1989 Journal of Political Economy paper by Jeremy Bulow and Kenneth Rogoff models sovereign debt renegotiation as an ongoing bilateral bargaining process (following Rubinstein's …

Kenneth Rogoff

This 1985 Journal of International Economics paper by Kenneth Rogoff shows that increased cooperation between central banks does not automatically raise welfare, because cooperation can exacerbate …

Maurice Obstfeld · Kenneth Rogoff

The intertemporal approach treats the current account as the outcome of forward-looking saving and investment decisions rather than as a function of relative prices, and this chapter develops it from …

Richard A. Meese · Kenneth Rogoff

Across the dollar/mark, dollar/pound, dollar/yen and trade-weighted dollar rates over November 1976 to June 1981, no structural exchange rate model, univariate time series model, vector autoregression …

Maurice Obstfeld · Kenneth Rogoff

This 1995 Journal of Political Economy paper by Maurice Obstfeld and Kenneth Rogoff builds the foundational "Redux" two-country dynamic general-equilibrium model that bridges the intertemporal …

Maurice Obstfeld · Kenneth Rogoff

This 2000 Journal of International Economics paper by Maurice Obstfeld and Kenneth Rogoff extends the "Redux" sticky-price approach to a genuinely stochastic setting with an exact closed-form solution …

Mark Gertler · Kenneth Rogoff

This 1990 Journal of Monetary Economics paper by Mark Gertler and Kenneth Rogoff builds a model of North-South lending in which information asymmetries between individual borrowers and world capital …

Jeremy Bulow · Kenneth Rogoff

A sovereign that can still hold assets abroad after defaulting can always replace any reputation-based loan contract with a sequence of cash-in-advance insurance contracts collateralised out of the …

Kenneth Rogoff

This 1996 Journal of Economic Literature survey by Kenneth Rogoff states the purchasing power parity (PPP) puzzle as a reconciliation problem: the empirical literature finds that real exchange rates …

Maurice Obstfeld · Kenneth Rogoff

Six of international macroeconomics' most stubborn puzzles -- home bias in trade, Feldstein-Horioka, home bias in equity portfolios, low consumption correlations, the slow mean reversion of real …