Ricardo J. Caballero

Massachusetts Institute of Technology (MIT) - Department of Economics

Ford International Professor of Economics

50 Memorial Drive

Building E52-528

Cambridge, MA 02142

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Massachusetts Institute of Technology (MIT) - Department of Economics

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    • Tel: 617-253-0489
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SCHOLARLY PAPERS

118

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Scholarly Papers (118)

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1.

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

Downloads 6,540 ( 2,440)
Citation 19

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

MIT Department of Economics Working Paper No. 10-16
Number of pages: 23 Posted: 27 Sep 2010 Last Revised: 10 Oct 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 6,410 (2,504)
Citation 19

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Pretense of knowledge, DSGE, core and periphery of macroeconomics, financial crisis, complexity, robust control, uncertainty, rational expectations

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

NBER Working Paper No. w16429
Number of pages: 24 Posted: 12 Oct 2010 Last Revised: 24 May 2023
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 130 (460,382)

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2.

A Caricature (Model) of the World Economy

MIT Department of Economics Working Paper No. 10-17
Number of pages: 18 Posted: 14 Dec 2010
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 4,131 (5,379)

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Global equilibrium, shortage of assets, interest rates, asset prices, booms and busts, sovereign crises, financial reform and development, fiscal deficits, flight to quality, decoupling, quantitative easing

3.

The 'Other' Imbalance and the Financial Crisis

MIT Department of Economics Working Paper No. 09-32
Number of pages: 43 Posted: 31 Dec 2009
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 1,313 (32,727)
Citation 11

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Global imbalances, financial crisis, safe assets shortage, securitization, systemic fragility, panic, complexity, Knightian uncertainty, contingent insurance, TIC, contingent CDS

4.

Carry Trade and Systemic Risk: Why are FX Options So Cheap?

Downloads 1,212 (36,712)

Carry Trade and Systemic Risk: Why are FX Options So Cheap?

MIT Department of Economics Working Paper No. 12-28
Number of pages: 45 Posted: 12 Dec 2012
Ricardo J. Caballero and Joseph B. Doyle
Massachusetts Institute of Technology (MIT) - Department of Economics and Cornerstone Research, Inc.
Downloads 1,020 (46,405)

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carry trade, forward premium puzzle, vix futures and rolldown, interest parity condition, Fama-French factors

Carry Trade and Systemic Risk: Why are FX Options so Cheap?

NBER Working Paper No. w18644
Number of pages: 45 Posted: 22 Dec 2012 Last Revised: 12 Jun 2022
Ricardo J. Caballero and Joseph B. Doyle
Massachusetts Institute of Technology (MIT) - Department of Economics and Cornerstone Research, Inc.
Downloads 192 (328,908)

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5.

Flight to Quality and Bailouts: Policy Remarks and a Literature Review

MIT Department of Economics Working Paper No. 08-21
Number of pages: 27 Posted: 09 Nov 2008
Ricardo J. Caballero and Pablo D. Kurlat
Massachusetts Institute of Technology (MIT) - Department of Economics and Stanford University - Department of Economics
Downloads 1,204 (37,101)
Citation 22

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subprime crisis, liquidity, bailout, intermediation, credit spreads

6.

Complexity and Financial Panics

Downloads 1,089 (43,021)
Citation 2

Complexity and Financial Panics

MIT Department of Economics Working Paper No. 09-17
Number of pages: 37 Posted: 05 Jun 2009 Last Revised: 13 Dec 2016
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 961 (50,411)
Citation 2

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Financial network, complexity, uncertainty, flight to quality, cascades,crises, information cost, financial panic, credit crunch

Complexity and Financial Panics

NBER Working Paper No. w14997
Number of pages: 37 Posted: 26 May 2009 Last Revised: 25 Dec 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 128 (466,024)

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7.

The 'Surprising' Origin and Nature of Financial Crises: A Macroeconomic Policy Proposal

MIT Department of Economics Working Paper No. 09-24
Number of pages: 40 Posted: 15 Sep 2009
Ricardo J. Caballero and Pablo D. Kurlat
Massachusetts Institute of Technology (MIT) - Department of Economics and Stanford University - Department of Economics
Downloads 951 (51,936)
Citation 27

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financial crises, Knightian uncertainty, macroeconomic risk, credit default swaps, asset insurance

8.

Zombie Lending and Depressed Restructuring in Japan

Downloads 801 (65,679)
Citation 117

Zombie Lending and Depressed Restructuring in Japan

MIT Economics Working Paper No. 06-06
Number of pages: 56 Posted: 10 Mar 2006
Ricardo J. Caballero, Takeo Hoshi and Anil K. Kashyap
Massachusetts Institute of Technology (MIT) - Department of Economics, University of California at San Diego and University of Chicago, Booth School of Business
Downloads 570 (100,437)
Citation 14

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Japan, zombies, investment, employment, job flows, restructuring, bankruptcy, creative destruction, productivity, congestion, sclerosis, scrambling, distortions, lost decade, subsidies

Zombie Lending and Depressed Restructuring in Japan

NBER Working Paper No. w12129
Number of pages: 72 Posted: 16 May 2006 Last Revised: 24 Aug 2022
Ricardo J. Caballero, Takeo Hoshi and Anil K. Kashyap
Massachusetts Institute of Technology (MIT) - Department of Economics, University of California at San Diego and University of Chicago, Booth School of Business
Downloads 231 (275,712)
Citation 103

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9.

The Future of the IMF

Number of pages: 14 Posted: 22 Jan 2003
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 739 (73,074)
Citation 15

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Capital Flows, Crises, Hedging, Insurance, Contingent Markets, Contractible and Noncontractible Shocks, Contingent-market and Crises Department, IMF, IFIs, Contingent-EM-CDO, Fiscal and Monetary Rules

10.

Coping with Chile's External Vulnerability: A Financial Problem

Number of pages: 46 Posted: 10 Jul 2001
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 696 (78,852)
Citation 18

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Financial underdevelopment, external shocks, capital flows, segmented financial markets, hedging, illiquid markets, underinsurance, contingent bonds

11.

Creative Destruction and Development: Institutions, Crises, and Restructuring

Downloads 651 (85,868)
Citation 8

Creative Destruction and Development: Institutions, Crises, and Restructuring

Number of pages: 42 Posted: 14 Aug 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 551 (104,780)
Citation 1

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Creative Destruction and Development: Institutions, Crises, and Restructuring

NBER Working Paper No. w7849
Number of pages: 42 Posted: 20 Aug 2000 Last Revised: 14 Dec 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 100 (563,396)
Citation 7

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12.

A Model of Endogenous Risk Intolerance and LSAPs: Asset Prices and Aggregate Demand in a 'COVID-19' Shock

Number of pages: 61 Posted: 16 Apr 2020 Last Revised: 17 Jun 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 598 (95,784)
Citation 26

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Risk intolerance, leverage, asset price spirals, aggregate supply and demand, recessions, conventional and unconventional monetary policy, multiple equilibria, LSAPs, asset demand (in)elasticity, COVID-19

13.

Effective Labor Regulation and Microeconomic Flexibility

Downloads 567 (102,437)
Citation 3

Effective Labor Regulation and Microeconomic Flexibility

Cowles Foundation Discussion Paper No. 1480, MIT Department of Economics Working Paper No. 04-30, Yale University Economic Growth Center Discussion Paper No. 893, FRB of Boston Working Paper No. 04-6
Number of pages: 30 Posted: 25 Aug 2004 Last Revised: 02 Mar 2011
Ricardo J. Caballero, Eduardo M. R. A. Engel, Kevin Cowan and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics, Adolfo Ibanez University and University of Chile
Downloads 464 (129,247)
Citation 2

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Microeconomic rigidities, Creative-destruction, Job security regulation, Adjustment costs, Rule of law

Effective Labor Regulation and Microeconomic Flexibility

NBER Working Paper No. w10744
Number of pages: 34 Posted: 23 Sep 2004 Last Revised: 11 Nov 2022
Ricardo J. Caballero, Eduardo M. R. A. Engel, Kevin Cowan and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics, Adolfo Ibanez University and University of Chile
Downloads 103 (551,482)
Citation 1

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14.

Bubbles and Capital Flow Volatility: Causes and Risk Management

Downloads 553 (105,629)
Citation 18

Bubbles and Capital Flow Volatility: Causes and Risk Management

MIT Department of Economics Working Paper No. 05-20
Number of pages: 28 Posted: 21 Sep 2005
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 460 (130,614)
Citation 7

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Emerging markets, bubbles, excess volatility, crashes, capital flow reversals, public debt market, financial underdevelopment, dynamic inefficiency

Bubbles and Capital Flow Volatility: Causes and Risk Management

NBER Working Paper No. w11618
Number of pages: 28 Posted: 17 Nov 2005 Last Revised: 01 Oct 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 93 (591,453)
Citation 11

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15.

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

Downloads 503 (118,725)

International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

Number of pages: 48 Posted: 26 Jul 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 422 (144,775)

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International Liquidity Management: Sterilization Policy in Illiquid Financial Markets

NBER Working Paper No. w7740
Number of pages: 49 Posted: 12 Jun 2000 Last Revised: 27 Aug 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 81 (644,458)

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16.

On the Macroeconomics of Asset Shortages

Downloads 500 (119,614)
Citation 7

On the Macroeconomics of Asset Shortages

MIT Department of Economics Working Paper No. 06-30
Number of pages: 17 Posted: 01 Dec 2006
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 391 (158,085)

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Asset shortages, high valuations, speculative bubbles, low interest rates, low inflation, monetary policy, lender of last resort

On the Macroeconomics of Asset Shortages

NBER Working Paper No. w12753
Number of pages: 17 Posted: 13 Dec 2006 Last Revised: 08 May 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 109 (528,385)
Citation 7

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17.

A Dual Liquidity Model for Emerging Markets

Downloads 488 (123,142)
Citation 2

A Dual Liquidity Model for Emerging Markets

Number of pages: 10 Posted: 17 Jan 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 418 (146,443)

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Capital flows, external crises, international and domestic liquidity, monetary policy, fiscal policy, underinsurance

A Dual Liquidity Model for Emerging Markets

NBER Working Paper No. w8758
Number of pages: 11 Posted: 02 Feb 2002 Last Revised: 08 Dec 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 70 (700,133)
Citation 2

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A Dual Liquidity Model for Emerging Markets

Posted: 30 Aug 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management

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18.

A 'Vertical' Analysis of Monetary Policy in Emerging Markets

Number of pages: 30 Posted: 09 May 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 486 (123,751)
Citation 4

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External shocks, domestic and international liquidity, monetary policy, interest parity departures, exchange rate overshooting, fear of floating, commitment, credibility, underinsurance

19.

Fiscal Policy and Financial Depth

Downloads 474 (127,485)

Fiscal Policy and Financial Depth

Number of pages: 22 Posted: 20 May 2004
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 378 (164,230)

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sudden stops, financial depth, fiscal deficits, liquidity crises, populism, crowding out

Fiscal Policy and Financial Depth

NBER Working Paper No. w10532
Number of pages: 22 Posted: 11 Jun 2004 Last Revised: 13 Oct 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 96 (579,218)

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20.

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

Downloads 454 (134,286)
Citation 2

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

Yale Economic Growth Center Discussion Paper No. 865, Cowles Foundation Discussion Paper No. 1430, MIT Department of Economics Working Paper No. 03-25
Number of pages: 33 Posted: 08 Aug 2003 Last Revised: 02 Mar 2011
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 393 (157,140)
Citation 1

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Speed of adjustment, Discrete adjustment, Lumpy adjustment, Aggregation, Calvo model, ARMA process, Partial adjustment, Expected response time, Monetary policy, Investment, Labor demand, Sticky prices, Idiosyncratic shocks, Impulse response function, Time-to-build

Missing Aggregate Dynamics: On the Slow Convergence of Lumpy Adjustment Models

NBER Working Paper No. w9898
Number of pages: 58 Posted: 17 Aug 2003 Last Revised: 20 Jul 2022
David Berger, Ricardo J. Caballero and Eduardo M. R. A. Engel
Northwestern University, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 61 (753,116)
Citation 1

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21.

An Equilibrium Model of Global Imbalances and Low Interest Rates

Downloads 443 (138,366)
Citation 55

An Equilibrium Model of Global Imbalances and Low Interest Rates

MIT Department of Economics Working Paper No. 06-02
Number of pages: 55 Posted: 20 Jan 2006
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 349 (179,343)
Citation 26

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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

An Equilibrium Model of "Global Imbalances" and Low Interest Rates

NBER Working Paper No. w11996
Number of pages: 54 Posted: 01 Jun 2006 Last Revised: 13 Oct 2022
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 94 (587,311)
Citation 29

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22.

A Monetary Policy Asset Pricing Model

Downloads 437 (140,548)
Citation 1

A Monetary Policy Asset Pricing Model

Number of pages: 63 Posted: 20 May 2022 Last Revised: 12 Jul 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 414 (148,086)
Citation 1

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Monetary policy, asset prices, interest rates, volatility, risk premium, aggregate demand and supply, shocks, transmission lags, inertia, overshooting, beliefs, disagreements, policy mistakes, behind-the-curve, Fed put/call

A Monetary Policy Asset Pricing Model

NBER Working Paper No. w30132
Number of pages: 65 Posted: 13 Jun 2022 Last Revised: 06 Jul 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 23 (1,100,879)

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23.

Macroeconomics Volatility in Latin America: A View and Three Case Studies

Number of pages: 44 Posted: 17 Jul 2000
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 436 (140,916)
Citation 1

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Volatility, Financial Constraints, Capital Flows, Terms of Trade, Banking Crises, Illiquidity, Emerging Markets, Macroeconomic Policy, Contingent Policies, Corporate Governance

24.

Speculative Growth: Hints from the U.S. Economy

Downloads 427 (144,336)
Citation 13

Speculative Growth: Hints from the U.S. Economy

Number of pages: 52 Posted: 06 Jun 2004
Ricardo J. Caballero, Emmanuel Farhi and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 365 (170,742)

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Bubbles, investment, cost of capital, growth-saving feedback, multiple equilibria, dynamic efficiency and inefficiency, new economy, spillovers, fiscal and current account surpluses

Speculative Growth: Hints from the Us Economy

NBER Working Paper No. w10518
Number of pages: 52 Posted: 08 Jun 2004 Last Revised: 29 Sep 2022
Ricardo J. Caballero, Emmanuel Farhi and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 62 (747,054)
Citation 13

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25.

Microeconomic Flexibility in Latin America

Downloads 417 (148,414)
Citation 1

Microeconomic Flexibility in Latin America

Number of pages: 35 Posted: 04 Mar 2004
Ricardo J. Caballero, Eduardo M. R. A. Engel and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics and University of Chile
Downloads 303 (209,080)

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Microeconomic rigidities, creative-destruction, job flows, restructuring and reallocation, productivity growth

Microeconomic Flexibility in Latin America

NBER Working Paper No. w10398
Number of pages: 35 Posted: 09 Apr 2004 Last Revised: 01 Dec 2022
Ricardo J. Caballero, Eduardo M. R. A. Engel and Alejandro Micco
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics and University of Chile
Downloads 114 (510,755)
Citation 1

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26.

Financial System Risk and Flight to Quality

Downloads 408 (152,160)

Financial System Risk and Flight to Quality

MIT Department of Economics Working Paper No. 05-31
Number of pages: 39 Posted: 30 Nov 2005
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 341 (184,059)

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Locked collateral, flight to quality, insurance, risk premia, financial intermediaries, lender of last resort, private sector multiplier, collateral shocks, robust control

Financial System Risk and Flight to Quality

NBER Working Paper No. w11834
Number of pages: 39 Posted: 27 Dec 2005 Last Revised: 03 Nov 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 67 (717,028)

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27.

Institutions, Restructuring, and Macroeconomic Performance

Downloads 394 (158,216)
Citation 2

Institutions, Restructuring, and Macroeconomic Performance

Number of pages: 40 Posted: 26 Jul 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 326 (193,135)
Citation 1

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Institutions, Restructuring, and Macroeconomic Performance

NBER Working Paper No. w7720
Number of pages: 40 Posted: 12 Jun 2000 Last Revised: 07 Aug 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 68 (711,308)
Citation 1

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28.

Financial Integration Without the Volatility

MIT Department of Economics Working Paper No. 08-04
Number of pages: 61 Posted: 04 Dec 2006
Ricardo J. Caballero and Kevin Cowan
Massachusetts Institute of Technology (MIT) - Department of Economics and Central Bank of Chile
Downloads 390 (160,074)
Citation 9

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29.

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

Downloads 387 (161,473)
Citation 117

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

Number of pages: 36 Posted: 05 Oct 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 300 (211,267)
Citation 117

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Capital flows. fires sales, microeconomic and aggregate financial constraints, contractual and corporate governance problems, balance sheets, wasted collateral, domestic and foreign spreads, excessive leverage, collateral under provision, real depreciation, banks.

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

NBER Working Paper No. w7971
Number of pages: 36 Posted: 22 Oct 2000 Last Revised: 14 Oct 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 87 (617,019)

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30.

International Liquidity Illusion: On the Risks of Sterilization

Downloads 385 (162,404)
Citation 1

International Liquidity Illusion: On the Risks of Sterilization

Number of pages: 36 Posted: 16 Feb 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 316 (199,700)
Citation 1

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Capital flows, sterilization policy, monetary policy, financial constraints, balance sheets, excessive leverage, short term capital flows, debt maturity, quasi-fiscal deficit, soverign risk, illiquidity

International Liquidity Illusion: On the Risks of Sterilization

NBER Working Paper No. w8141
Number of pages: 36 Posted: 22 Feb 2001 Last Revised: 01 Oct 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 69 (705,753)

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31.

A Risk-Centric Model of Demand Recessions and Speculation

Downloads 384 (162,919)
Citation 78

A Risk-Centric Model of Demand Recessions and Speculation

MIT Department of Economics Working Paper No. 17-07
Number of pages: 114 Posted: 25 Jul 2017 Last Revised: 12 Feb 2020
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 232 (274,539)
Citation 3

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risk premium shocks, asset prices, aggregate demand, interest rate rigidity, booms and recessions, heterogeneous beliefs, speculation, monetary and macroprudential policy, the Fed put

A Risk-Centric Model of Demand Recessions and Macroprudential Policy

BIS Working Paper No. 733
Number of pages: 64 Posted: 16 Jul 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 109 (528,385)
Citation 5

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Risk premium shocks, asset prices, aggregate demand, interest rate rigidity booms and recessions, heterogeneous beliefs, speculation, monetary and macroprudential policy

A Risk-Centric Model of Demand Recessions and Speculation

NBER Working Paper No. w23614
Number of pages: 115 Posted: 25 Jul 2017 Last Revised: 10 Jul 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 42 (896,375)

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A Risk-Centric Model of Demand Recessions and Speculation

CEPR Discussion Paper No. DP13815
Number of pages: 118 Posted: 30 Jul 2019 Last Revised: 02 Mar 2020
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 1 (1,360,253)
Citation 70
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aggregate demand, asset prices, belief disagreements, booms and recessions, extrapolation, interest rate rigidity, monetary and macroprudential policy, Speculation, Time-varying risk premium, Uncertainty shocks

32.

Flight to Quality and Collective Risk Management

Downloads 381 (164,317)

Flight to Quality and Collective Risk Management

MIT Department of Economics Working Paper No. 06-07
Number of pages: 33 Posted: 23 Mar 2006
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 298 (212,720)

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Locked collateral, flight to quality, insurance, safe and risky claims, financial intermediaries, collective bias, lender of last resort, private sector multiplier, collateral shocks, robust control

Flight to Quality and Collective Risk Management

NBER Working Paper No. w12136
Number of pages: 33 Posted: 18 May 2006 Last Revised: 31 Aug 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 83 (635,159)

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33.

A Note on Temporary Supply Shocks with Aggregate Demand Inertia

Downloads 378 (165,748)
Citation 7

A Note on Temporary Supply Shocks with Aggregate Demand Inertia

Number of pages: 49 Posted: 05 Feb 2022 Last Revised: 01 Jul 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 315 (200,349)

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Monetary policy, interest rates, temporary supply shocks, aggregate demand inertia, inflation, divine coincidence, policy frontloading, backward guidance, momentum, output and inflation gaps, the Phillips curve, Covid-19

A Note on Temporary Supply Shocks with Aggregate Demand Inertia

CESifo Working Paper No. 9603
Number of pages: 51 Posted: 03 Mar 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 39 (924,164)

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monetary policy, interest rates, temporary supply shocks, aggregate demand inertia, inflation, Taylor rule, divine coincidence, policy frontloading, aggregate demand momentum, output and inflation gaps, the Phillips curve, Covid-19

A Note on Temporary Supply Shocks with Aggregate Demand Inertia

NBER Working Paper No. w29815
Number of pages: 50 Posted: 07 Mar 2022 Last Revised: 19 Jun 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 23 (1,100,879)
Citation 7

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A Note on Temporary Supply Shocks with Aggregate Demand Inertia

CEPR Discussion Paper No. DP16814
Number of pages: 45 Posted: 11 Feb 2022 Last Revised: 29 Mar 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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aggregate demand inertia, aggregate demand momentum, COVID-19, divine coincidence, inflation, interest rates, monetary policy, output and inflation gaps, Taylor rule, temporary supply shocks

34.

Excessive Dollar Debt: Financial Development and Underinsurance

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Citation 80

Excessive Dollar Debt: Financial Development and Underinsurance

Number of pages: 31 Posted: 19 Apr 2002
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
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Citation 80

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Currency mismatch, balance sheets, international liquidity, contingent credit lines, thin markets, limited participation

Excessive Dollar Debt: Financial Development and Underinsurance

Posted: 24 Jul 2003
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management

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35.

Price Stickiness in SS Models: New Interpretations of Old Results

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Citation 12

Price Stickiness in SS Models: New Interpretations of Old Results

Cowles Foundation Discussion Paper No. 1603, MIT Department of Economics Working Paper No. 07-07, Yale University Economic Growth Center Discussion Paper No. 952
Number of pages: 30 Posted: 14 Feb 2007
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
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Aggregate price stickiness, adjustment hazard, adjustment frequency, generalized Ss model, extensive margin, Calvo model, strategic complementarities

Price Stickiness in Ss Models: New Interpretations of Old Results

NBER Working Paper No. w12945
Number of pages: 30 Posted: 09 Mar 2007 Last Revised: 16 Nov 2022
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 56 (786,136)
Citation 12

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36.

A Quantitative Model of Sudden Stops and External Liquidity Management

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A Quantitative Model of Sudden Stops and External Liquidity Management

Number of pages: 51 Posted: 12 Apr 2005
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
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Capital flows, sudden stops, reserves, international liquidity and liability management, specialists, world capital markets, swaps, insurance, hedging, options, hidden states, Bayesian methods

A Quantitative Model of Sudden Stops and External Liquidity Management

NBER Working Paper No. w11293
Number of pages: 51 Posted: 06 Jun 2005 Last Revised: 11 Nov 2022
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
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37.

Fear of Sudden Stops: Lessons from Australia and Chile

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Citation 2

Fear of Sudden Stops: Lessons from Australia and Chile

Number of pages: 56 Posted: 20 May 2004
Ricardo J. Caballero, Kevin Cowan and Jonathan Kearns
Massachusetts Institute of Technology (MIT) - Department of Economics, Adolfo Ibanez University and Bank for International Settlements (BIS) - Monetary and Economic Department
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Sudden stops, Australia, Chile

Fear of Sudden Stops: Lessons from Australia and Chile

NBER Working Paper No. w10519
Number of pages: 55 Posted: 08 Jun 2004 Last Revised: 30 Sep 2022
Ricardo J. Caballero, Kevin Cowan and Jonathan Kearns
Massachusetts Institute of Technology (MIT) - Department of Economics, Adolfo Ibanez University and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 59 (765,993)
Citation 2

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Fear of Sudden Stops: Lessons from Australia and Chile

IDB Working Paper No. 420
Posted: 25 Apr 2011
Ricardo J. Caballero, Kevin Cowan and Jonathan Kearns
Massachusetts Institute of Technology (MIT) - Department of Economics, Adolfo Ibanez University and Bank for International Settlements (BIS) - Monetary and Economic Department

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38.

A 'Vertical' Analysis of Crises and Intervention: Fear of Floating and Ex-Ante Problems

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Citation 1

A 'Vertical' Analysis of Crises and Intervention: Fear of Floating and Ex-Ante Problems

Number of pages: 33 Posted: 25 Jul 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 253 (252,008)
Citation 1

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External shocks, domestic and international liquidity, monetary policy, interest parity departures, exchange rate systems, overshooting

A "Vertical" Analysis of Crises and Intervention: Fear of Floating and Ex-Ante Problems

NBER Working Paper No. w8428
Number of pages: 33 Posted: 14 Aug 2001 Last Revised: 14 Jul 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
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39.

Future Rent-Seeking and Current Public Savings

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Citation 21

Future Rent-Seeking and Current Public Savings

MIT Department of Economics Working Paper No. 08-20
Number of pages: 34 Posted: 10 Oct 2008 Last Revised: 06 Sep 2011
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia University - Columbia Business School, Finance
Downloads 254 (250,976)
Citation 21

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public debt, politicians, economic and political risk, rent-seeking, precautionary savings, starve-the-beast, fiscal rules

Future Rent-Seeking and Current Public Savings

Journal of International Economics, Vol. 82, pp. 124-136, 2010
Number of pages: 37 Posted: 27 Oct 2011
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia University - Columbia Business School, Finance
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Future Rent-Seeking and Current Public Savings

NBER Working Paper No. w14417
Number of pages: 34 Posted: 23 Oct 2008 Last Revised: 24 Nov 2022
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia University - Columbia Business School, Finance
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40.

On the International Financial Architecture: Insuring Emerging Markets

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On the International Financial Architecture: Insuring Emerging Markets

Number of pages: 11 Posted: 28 Apr 2003
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
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Capital Flows, Crises, Hedging, Insurance, Contingent Markets, Specialists, Contractible and Noncontractible Shocks, Collateralized Debt Obligations

On the International Financial Architecture: Insuring Emerging Markets

NBER Working Paper No. w9570
Number of pages: 11 Posted: 14 Mar 2003 Last Revised: 27 Aug 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
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41.

Aggregate Volatility in Modern Latin America: Causes and Cures

Number of pages: 37 Posted: 17 Jul 2000
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 297 (215,113)
Citation 2

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Volatility, Financial Constraints, Capital Flows, Terms of Trade, Banking Crises, Illiquidity, Emerging Markets, Macroecnomic Policy, Contingent Policies, Corporate Governance

42.

Smoothing Sudden Stops

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Citation 16

Smoothing Sudden Stops

Number of pages: 26 Posted: 25 Jul 2001
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 246 (259,127)
Citation 16

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External Shocks, domestic and international collateral, underinsurance, credit lines, liquidity requirements, asset market intervention

Smoothing Sudden Stops

NBER Working Paper No. w8427
Number of pages: 26 Posted: 14 Aug 2001 Last Revised: 13 Jul 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
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43.

On the Global Impact of Risk-off Shocks and Policy-put Frameworks

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Citation 5

On the Global Impact of Risk-off Shocks and Policy-put Frameworks

BIS Working Paper No. 772
Number of pages: 57 Posted: 11 Mar 2019
Ricardo J. Caballero and Güneş Kamber
Massachusetts Institute of Technology (MIT) - Department of Economics and Bank for International Settlements (BIS) - Monetary and Economic Department
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Risk-off, conventional and unconventional monetary policy, policy-puts, spillovers, macroeconomic fundamentals, developed and emerging markets, Asia-Pacific region

On the Global Impact of Risk-Off Shocks and Policy-Put Frameworks

NBER Working Paper No. w26031
Number of pages: 55 Posted: 09 Jul 2019 Last Revised: 16 Feb 2023
Ricardo J. Caballero and Güneş Kamber
Massachusetts Institute of Technology (MIT) - Department of Economics and Bank for International Settlements (BIS) - Monetary and Economic Department
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Citation 5

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44.

Fire Sales in a Model of Complexity

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Citation 91

Fire Sales in a Model of Complexity

MIT Department of Economics Working Paper No. 09-28
Number of pages: 43 Posted: 31 Oct 2009 Last Revised: 06 Apr 2011
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 229 (277,972)
Citation 50

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Fire sales, uncertainty, complexity, financial network, cascades, market freezes, crises, financial panic, credit crunch, externality

Fire Sales in a Model of Complexity

NBER Working Paper No. w15479
Number of pages: 35 Posted: 09 Nov 2009 Last Revised: 19 Apr 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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Citation 41

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45.

Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect

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Citation 3

Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect

Journal of Finance, Forthcoming
Number of pages: 80 Posted: 13 Aug 2020 Last Revised: 29 Aug 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 121 (487,489)

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Monetary policy, aggregate demand inertia, lags, output gap, recovery, asset prices, overshooting, Wall/Main Street disconnect, Covid-19, interest rate lower bound, macroeconomic news, market bond portfolio, QE/LSAPs

Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect

CESifo Working Paper No. 9632
Number of pages: 76 Posted: 22 Mar 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 93 (591,453)

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monetary policy, aggregate demand inertia, lags, output gap, recovery, asset prices, overshooting, Wall/Main Street disconnect, Covid-19, interest rate lower bound, macroeconomic news, market bond portfolio, QE/LSAPs

Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect

NBER Working Paper No. w27712
Number of pages: 81 Posted: 25 Aug 2020 Last Revised: 22 Mar 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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Monetary Policy and Asset Price Overshooting: A Rationale for the Wall/Main Street Disconnect

CEPR Discussion Paper No. DP15163
Number of pages: 76 Posted: 18 Aug 2020 Last Revised: 23 Jun 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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Citation 3
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aggregate demand inertia, asset prices, COVID-19, interest rate lower bound, Macroeconomic news, monetary policy, Output gap, Overshooting, QE/LSAPs, Wall/Main Street disconnect

46.

The Safety Trap

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Citation 36

The Safety Trap

MIT Department of Economics Working Paper No. 14-08
Number of pages: 67 Posted: 25 Feb 2014 Last Revised: 13 Dec 2016
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 217 (292,892)
Citation 2

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The Safety Trap

NBER Working Paper No. w19927
Number of pages: 69 Posted: 24 Feb 2014 Last Revised: 14 Jun 2023
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
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Citation 34

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47.

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

Downloads 278 (230,421)
Citation 1

Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

Number of pages: 34 Posted: 26 Jul 2000
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 217 (292,892)
Citation 1

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Dollarization of Liabilities: Underinsurance and Domestic Financial Underdevelopment

NBER Working Paper No. w7792
Number of pages: 34 Posted: 19 Jul 2000 Last Revised: 17 Oct 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
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48.

Contingent Reserves Management: An Applied Framework

Downloads 276 (232,148)

Contingent Reserves Management: An Applied Framework

Number of pages: 26 Posted: 24 Sep 2004
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 195 (324,180)

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Sudden stops, reserves, portfolio, VIX, hedging, options, futures.

Contingent Reserves Management: An Applied Framework

NBER Working Paper No. w10786
Number of pages: 26 Posted: 05 Oct 2004 Last Revised: 23 Dec 2022
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
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49.

Monetary Policy with Opinionated Markets

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Citation 2

Monetary Policy with Opinionated Markets

Number of pages: 78 Posted: 22 Jun 2020 Last Revised: 20 Jun 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 243 (262,316)
Citation 1

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Monetary policy and shocks, belief disagreements, interest rates, the Fed's Greenbook projections and the dot plot, Fed belief surprises, tantrum shocks, communication, gradualism, overshooting, forward guidance, cost-push shocks.

Monetary Policy with Opinionated Markets

NBER Working Paper No. w27313
Number of pages: 79 Posted: 09 Jun 2020 Last Revised: 17 Feb 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 30 (1,016,875)
Citation 1

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Monetary Policy with Opinionated Markets

CEPR Discussion Paper No. DP14830
Number of pages: 81 Posted: 03 Jun 2020 Last Revised: 23 Jun 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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belief disagreements, communication, cost-push shocks, Fed belief surprises, forward guidance, Gradualism, interest rates, monetary policy and shocks, tantrum shocks, the Fed's Greenbook projections and the dot plot

50.

Global Imbalances and Policy Wars at the Zero Lower Bound

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Citation 20

Global Imbalances and Policy Wars at the Zero Lower Bound

Number of pages: 67 Posted: 09 Mar 2020
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 175 (358,135)

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Liquidity and Safety Traps, Safe Assets, Global Recession, Currency Wars, Trade Wars, Current Account, Capital Flows, Reserve Currency, Secular Stagnation, Public Debt, Fiscal Policy, Balanced Budget

Global Imbalances and Policy Wars at the Zero Lower Bound

NBER Working Paper No. w21670
Number of pages: 70 Posted: 26 Oct 2015 Last Revised: 19 Mar 2023
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 97 (575,266)
Citation 3

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Global Imbalances and Currency Wars at the ZLB

CEPR Discussion Paper No. DP10905
Number of pages: 68 Posted: 28 Oct 2015
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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Citation 17
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capital flows, current account, exhorbitant privilege, forward guidance, inflation rate, interest rates, liquidity and safety traps, recessions, reserve currency, safe assets, secular stagnation, Taylor rule, uncovered interest parity

Global Imbalances and Policy Wars at the Zero Lower Bound

CEPR Discussion Paper No. DP14424
Number of pages: 70 Posted: 03 Mar 2020
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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51.

Emerging Market Crises: An Asset Markets Perspective

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Citation 9

Emerging Market Crises: An Asset Markets Perspective

Number of pages: 51 Posted: 18 Dec 1998
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 223 (285,307)
Citation 9

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Emerging Market Crises: an Asset Markets Perspective

NBER Working Paper No. w6843
Number of pages: 46 Posted: 18 Aug 2000 Last Revised: 14 Sep 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 48 (845,580)

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52.

An Equilibrum Model of 'Global Imbalances' and Low Interest Rates

BIS Working Paper No. 222
Number of pages: 88 Posted: 20 Sep 2007
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 270 (237,421)

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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

53.

A Global Equilibrium Model of Sudden Stops and External Liquidity Management

MIT Department of Economics Working Paper No. 08-05
Number of pages: 54 Posted: 20 Mar 2008
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 269 (238,337)
Citation 17

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Capital flows, sudden stops, reserves, international liquidity management, world, capital markets, swaps, insurance, hedging, options, hidden states, Bayesian methods

54.

Trade and Capital Flows: A Financial Frictions Perspective

Downloads 261 (245,696)
Citation 36

Trade and Capital Flows: A Financial Frictions Perspective

MIT Department of Economics Working Paper No. 08-06
Number of pages: 45 Posted: 20 Mar 2008
Pol Antras and Ricardo J. Caballero
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 188 (335,509)
Citation 3

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Trade, capital mobility, capital flows, globalization, financial frictions, complementarities, factor payments, saving rate, global imbalances, protectionism.

Trade and Capital Flows: A Financial Frictions Perspective

NBER Working Paper No. w13241
Number of pages: 42 Posted: 27 Sep 2007 Last Revised: 07 Sep 2022
Pol Antras and Ricardo J. Caballero
Harvard University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 73 (684,025)
Citation 33

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55.

Sudden Financial Arrest

MIT Department of Economics Working Paper No. 09-29
Number of pages: 48 Posted: 15 Nov 2009
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 248 (258,651)
Citation 10

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Financial crisis, panic, defibrillation, complexity, Knightian uncertainty, moral hazard, financial network, capital requirements, contingent capital, contingent insurance, IMF

56.

Rents, Technical Change, and Risk Premia

MIT Department of Economics Working Paper No. 17-05
Number of pages: 13 Posted: 24 Mar 2017
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 246 (260,737)

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57.

Three Strikes and You're Out: Reply to Cooper and Willis

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Three Strikes and You're Out: Reply to Cooper and Willis

Number of pages: 14 Posted: 04 Mar 2004
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 145 (421,163)

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Adjustment hazard, aggregate nonlinearities, lumpy adjustment, observed and unobserved gaps, quadratic adjustment

Three Strikes and You're Out: Reply to Cooper and Willis

NBER Working Paper No. w10368
Number of pages: 14 Posted: 25 Mar 2004 Last Revised: 31 Oct 2022
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 100 (563,396)

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58.

Lumpy Investment in Dynamic General Equilibrium

MIT Department of Economics Working Paper No. 06-20, Cowles Foundation Discussion Paper No. 1566
Number of pages: 53 Posted: 20 Jun 2006
Ruediger Bachmann, Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University, Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 241 (266,019)
Citation 13

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(S, s) model, RBC model, time-varying impulse response function, aggregate shocks, sectoral shocks, idiosyncratic shocks, adjustment costs, history dependence, moment matching

59.

Exchange Rate Volatility and the Credit Channel in the Emerging Markets: A Vertical Perspective

Number of pages: 34 Posted: 07 Jun 2004
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 227 (281,865)
Citation 1

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External shocks, segmented capital markets, credit squeeze, monetary policy, interest parity departures, exchange rate overshooting, fear of floating, underinsurance, capital controls

60.

Risk-Centric Macroeconomics and Safe Asset Shortages in the Global Economy: An Illustration of Mechanisms and Policies

Number of pages: 30 Posted: 13 Oct 2018
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 221 (289,204)
Citation 4

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Risk-Market Imbalances, Safe Assets, Financial Underdevelopment, Sudden Stops, Crises, Global Imbalances, Low Interest Rates, Reach-for-Yield, Recessions, Speculation, Panics, Knightian Uncertainty, Flight-to-Safety, Put-Policies, Safety Traps, Global Spillovers, Aggregate Demand, Macroprudential

61.

Collective Risk Management in a Flight to Quality Episode

Downloads 218 (293,012)
Citation 85

Collective Risk Management in a Flight to Quality Episode

MIT Department of Economics Working Paper No. 07-02
Number of pages: 37 Posted: 01 Feb 2007
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 129 (463,207)

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Locked collateral, liquidity, flight to quality, Knightian uncertainty, collateral shocks, collective bias, lender of last resort, private sector multiplier

Collective Risk Management in a Flight to Quality Episode

NBER Working Paper No. w12896
Number of pages: 37 Posted: 17 Feb 2007 Last Revised: 28 Sep 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 89 (608,160)
Citation 85

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62.

Inflation Targets and Sudden Stops

Number of pages: 28 Posted: 13 Apr 2003
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 217 (294,298)

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External Shocks, Domestic and International Liquidity, Inflation Targeting, Fear of Floating, Commitment, Underinsurance

63.

A Model of Fickle Capital Flows and Retrenchment

Downloads 196 (323,734)
Citation 15

A Model of Fickle Capital Flows and Retrenchment

MIT Department of Economics Working Paper No. 16-10
Number of pages: 78 Posted: 12 Nov 2016 Last Revised: 25 Jul 2019
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 165 (377,333)
Citation 4

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gross capital flows, global liquidity, fickleness, retrenchment, asset fire sales, capital controls, policy coordination, scarcity of safe assets, reach-for-safety, reach-for-yield

A Model of Fickle Capital Flows and Retrenchment

NBER Working Paper No. w22751
Number of pages: 79 Posted: 24 Oct 2016 Last Revised: 02 Mar 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 29 (1,028,223)
Citation 5

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A Model of Fickle Capital Flows and Retrenchment

CEPR Discussion Paper No. DP13819
Number of pages: 81 Posted: 30 Jul 2019
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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Citation 6
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asset fire sales, capital controls, fickleness, Global liquidity, Gross capital flows, Policy Coordination, reach-for-safety, reach-for-yield, retrenchment, scarcity of safe assets

64.

Aggregate Investment

Downloads 196 (323,734)
Citation 1

Aggregate Investment

NBER Working Paper No. w6264
Number of pages: 70 Posted: 09 Jul 2000 Last Revised: 13 Feb 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 196 (322,651)
Citation 1

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Aggregate Investment

Posted: 20 Nov 1998
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics

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65.

Hedging Sudden Stops & Precautionary Contractions

MIT Department of Economics Working Paper No. 03-19
Number of pages: 59 Posted: 09 Jun 2003
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 190 (333,171)
Citation 32

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Capital flows, sudden stops, financial constraints, contractions, hedging, insurance, signals

66.

Global Imbalances and Financial Fragility

NBER Working Paper No. w14688
Number of pages: 13 Posted: 31 Jan 2009 Last Revised: 21 Aug 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 179 (351,713)
Citation 51

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67.

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

Downloads 170 (368,012)
Citation 15

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

Cowles Foundation Discussion Paper No. 1566R
Number of pages: 49 Posted: 16 Jun 2008 Last Revised: 02 Mar 2011
Ruediger Bachmann, Ricardo J. Caballero and Eduardo M. R. A. Engel
Yale University, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 106 (539,717)
Citation 5

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Ss model, RBC model, Time-varying impulse response function, History dependence, Conditional heteroscedasticity, Aggregate shocks, Sectoral shocks, Idiosyncratic shocks, Adjustment costs

Aggregate Implications of Lumpy Investment: New Evidence and a DSGE Model

NBER Working Paper No. w12336
Number of pages: 51 Posted: 14 Jul 2006 Last Revised: 17 Sep 2022
Ruediger Bachmann, Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University, Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 64 (734,737)
Citation 10

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68.

Prudential Monetary Policy

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Citation 7

Prudential Monetary Policy

Number of pages: 58 Posted: 02 Jun 2019 Last Revised: 17 Jun 2022
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 138 (438,343)

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Speculation, leverage, aggregate demand, business cycle, effective lower bound, monetary policy, regulation, macroprudential policies, leaning against the wind

Prudential Monetary Policy

NBER Working Paper No. w25977
Number of pages: 59 Posted: 26 Jun 2019 Last Revised: 25 Jun 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 30 (1,016,875)

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Prudential Monetary Policy

CEPR Discussion Paper No. DP13832
Number of pages: 61 Posted: 30 Jul 2019 Last Revised: 24 Mar 2020
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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Citation 7
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aggregate demand, Business cycle, effective lower bound, leaning against the wind, leverage, macroprudential policies, monetary policy, regulation, Shadow banks, Speculation

69.

Financial Crash, Commodity Prices and Global Imbalances

NBER Working Paper No. w14521
Number of pages: 61 Posted: 08 Dec 2008 Last Revised: 05 Sep 2022
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 156 (396,237)
Citation 4

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70.

Persistent Appreciations and Overshooting: A Normative Analysis

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Citation 11

Persistent Appreciations and Overshooting: A Normative Analysis

MIT Department of Economics Working Paper No. 07-13
Number of pages: 50 Posted: 24 Apr 2007
Ricardo J. Caballero and Guido Lorenzoni
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University
Downloads 103 (551,482)

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Appreciations, overshooting, financial frictions, irreversible investment, pecuniary externality, real wages, optimal policy, exports

Persistent Appreciations and Overshooting: A Normative Analysis

NBER Working Paper No. w13077
Number of pages: 50 Posted: 27 Jun 2007 Last Revised: 27 Mar 2022
Ricardo J. Caballero and Guido Lorenzoni
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University
Downloads 52 (814,785)
Citation 11

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71.

Macroeconomic Volatility in Latin America: A View and Three Case Studies

Downloads 143 (425,333)
Citation 8

Macroeconomic Volatility in Latin America: A View and Three Case Studies

NBER Working Paper No. w7782
Number of pages: 45 Posted: 18 Jul 2000 Last Revised: 08 Oct 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 100 (563,396)
Citation 1

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Macroeconomic Volatility in Latin America: A View and Three Case Studies

IDB Working Paper No. 357
Number of pages: 58 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 43 (887,497)
Citation 7

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72.

Irreversibility and Aggregate Investment

NBER Working Paper No. w3865
Number of pages: 33 Posted: 17 Oct 2007 Last Revised: 25 Jul 2022
Giuseppe Bertola and Ricardo J. Caballero
University of Turin - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 140 (432,431)
Citation 22

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73.

The Cost of Recession Revisited: A Reverse-Liquidationist View

Number of pages: 38 Posted: 23 Jan 2000
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 112 (514,204)

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74.

Emerging Markets Crisis An Asset Markets Perspective

IMF Working Paper No. 99/129
Number of pages: 53 Posted: 15 Feb 2006
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 110 (521,166)

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Capital flows fire sales financial constraints contractual and corporate governance problems balance sheets wasted collateral domestic and foreign spreads excessive leverage banks

75.

Reach for Yield and Fickle Capital Flows

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Citation 2

Reach for Yield and Fickle Capital Flows

MIT Department of Economics Working Paper No. 18-03
Number of pages: 14 Posted: 09 Mar 2018
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 81 (644,458)

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Reach for Yield and Fickle Capital Flows

NBER Working Paper No. w24400
Number of pages: 13 Posted: 12 Mar 2018 Last Revised: 04 Mar 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 26 (1,063,323)
Citation 2

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76.

How High are the Giants' Shoulders: An Empirical Assessment of Knowledge Spillovers and Creative Destruction in a Model of Economic Growth

NBER Working Paper No. w4370
Number of pages: 75 Posted: 26 May 2004 Last Revised: 29 Jun 2012
Ricardo J. Caballero and Adam B. Jaffe
Massachusetts Institute of Technology (MIT) - Department of Economics and Brandeis University
Downloads 107 (531,771)
Citation 10

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77.

Uncertainty, Investment, and Industry Evolution

NBER Working Paper No. w4160
Number of pages: 31 Posted: 16 Nov 2001 Last Revised: 14 Nov 2022
Ricardo J. Caballero and Robert S. Pindyck
Massachusetts Institute of Technology (MIT) - Department of Economics and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 107 (531,771)
Citation 26

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78.

The Cleansing Effect of Recessions

NBER Working Paper No. w3922
Number of pages: 31 Posted: 31 Jul 2007 Last Revised: 21 Sep 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 105 (539,187)
Citation 48

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79.

The Global Impact of Risk-Off Shocks

BIS Paper No. 102a
Number of pages: 7 Posted: 22 May 2019
Ricardo J. Caballero and Güneş Kamber
Massachusetts Institute of Technology (MIT) - Department of Economics and Bank for International Settlements (BIS) - Monetary and Economic Department
Downloads 99 (562,049)

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risk-off, conventional and unconventional monetary policy, policy-puts, spillovers, macroeconomic fundamentals, developed and emerging markets, AsiaPacific region

80.

Fixed Costs: The Demise of Marginal Q

NBER Working Paper No. w5508
Number of pages: 21 Posted: 07 Aug 2012 Last Revised: 22 Jul 2022
Ricardo J. Caballero and John V. Leahy
Massachusetts Institute of Technology (MIT) - Department of Economics and New York University (NYU) - Department of Economics
Downloads 98 (565,833)
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81.

A Model of the Safe Asset Mechanism (Sam): Safety Traps and Economic Policy

NBER Working Paper No. w18737
Number of pages: 53 Posted: 26 Jan 2013 Last Revised: 13 Mar 2023
Ricardo J. Caballero and Emmanuel Farhi
Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
Downloads 86 (613,947)
Citation 4

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82.

Aggregate Employment Dynamics: Building from Microeconomic Evidence

NBER Working Paper No. w5042
Number of pages: 51 Posted: 11 Jul 2000 Last Revised: 13 Oct 2022
Ricardo J. Caballero, Eduardo M. R. A. Engel and John Haltiwanger
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale University - Department of Economics and University of Maryland - Department of Economics
Downloads 75 (663,602)
Citation 10

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83.

The Macroeconomics of Specificity

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Citation 9

The Macroeconomics of Specificity

NBER Working Paper No. w5757
Number of pages: 51 Posted: 09 Dec 1996 Last Revised: 27 Mar 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 73 (684,025)
Citation 9

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The Macroeconomics of Specificity

Posted: 08 Oct 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)

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84.

Structural Volatility in Argentina: A Policy Report

IDB Working Paper No. 353
Number of pages: 50 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 71 (683,602)
Citation 5

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85.

Cross Sectional Efficiency and Labor Hoarding in an Matching Model of Unemployment

NBER Working Paper No. w4472
Number of pages: 28 Posted: 29 Dec 2006 Last Revised: 22 Sep 2022
Giuseppe Bertola and Ricardo J. Caballero
University of Turin - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 70 (688,693)

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86.

Rents, Technical Change, and Risk Premia: Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares

NBER Working Paper No. w23127
Number of pages: 13 Posted: 07 Feb 2017 Last Revised: 12 Mar 2023
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 68 (699,298)
Citation 44

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87.

On the Timing and Efficiency of Creative Destruction

NBER Working Paper No. w4768
Number of pages: 61 Posted: 26 Jul 2010 Last Revised: 14 Jul 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 68 (699,298)
Citation 13

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88.

Dynamic (S,S) Economies

NBER Working Paper No. w3734
Number of pages: 40 Posted: 27 Apr 2000 Last Revised: 16 Sep 2022
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 68 (699,298)
Citation 1

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89.

A Fallacy of Composition

NBER Working Paper No. w3735
Number of pages: 26 Posted: 09 Mar 2004 Last Revised: 17 Sep 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 67 (704,718)

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90.

Exchange Rate Volatility and the Credit Channel in Emerging Markets: A Vertical Perspective

NBER Working Paper No. w10517
Number of pages: 34 Posted: 08 Jun 2004 Last Revised: 28 Sep 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 65 (715,745)

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91.

Speculative Growth

NBER Working Paper No. w9381
Number of pages: 44 Posted: 14 Dec 2002 Last Revised: 21 Aug 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
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92.

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

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Citation 9

Jobless Growth: Appropriability, Factor Substitution, and Unemployment

NBER Working Paper No. w6221
Number of pages: 40 Posted: 25 May 2006 Last Revised: 03 Jul 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 64 (734,737)
Citation 9

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Jobless Growth: Appropriability, Factor Substitution, and Unemployment

Posted: 20 Nov 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)

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93.

The "Other" Imbalance and the Financial Crisis

NBER Working Paper No. w15636
Number of pages: 43 Posted: 11 Jan 2010 Last Revised: 24 Mar 2023
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 63 (727,260)
Citation 2

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94.

The Role of External Economies in U.S. Manufacturing

NBER Working Paper No. w3033
Number of pages: 32 Posted: 14 Apr 2007 Last Revised: 17 Apr 2022
Ricardo J. Caballero and Richard K. Lyons
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Berkeley
Downloads 63 (727,260)
Citation 1

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95.

Stock Market Interventions: 'An Update'

Number of pages: 9 Posted: 13 Apr 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 62 (733,050)
Citation 1

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Hong Kong intervention, stock and asset market interventions, emerging markets, liquidity, fire sales, capital outflows, liquidity channels

96.

Microeconomic Adjustment Hazards and Aggregate Dynamics

NBER Working Paper No. w4090
Number of pages: 31 Posted: 03 Jul 2007 Last Revised: 05 Sep 2022
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 62 (733,050)
Citation 4

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97.

Hedging Sudden Stops and Precautionary Contractions

NBER Working Paper No. w9778
Number of pages: 59 Posted: 20 Jul 2006 Last Revised: 21 Sep 2022
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 60 (744,820)
Citation 3

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98.

A Model of Endogenous Risk Intolerance and Lsaps: Asset Prices and Aggregate Demand in a “Covid-19” Shock

Downloads 58 (757,240)
Citation 27

A Model of Endogenous Risk Intolerance and Lsaps: Asset Prices and Aggregate Demand in a “Covid-19” Shock

NBER Working Paper No. w27044
Number of pages: 62 Posted: 28 Apr 2020 Last Revised: 25 May 2023
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
Downloads 56 (786,136)
Citation 25

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A Model of Endogenous Risk Intolerance and Lsaps: Asset Prices and Aggregate Demand in a "Covid-19" Shock

CEPR Discussion Paper No. DP14627
Number of pages: 65 Posted: 08 May 2020 Last Revised: 31 Mar 2021
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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Citation 2
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99.

Safe Asset Scarcity and Aggregate Demand

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Citation 47

Safe Asset Scarcity and Aggregate Demand

NBER Working Paper No. w22044
Number of pages: 12 Posted: 01 Mar 2016 Last Revised: 27 Mar 2022
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
Downloads 55 (793,081)
Citation 35

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Safe Asset Scarcity and Aggregate Demand

CEPR Discussion Paper No. DP11170
Number of pages: 13 Posted: 18 Apr 2016
Ricardo J. Caballero, Emmanuel Farhi and Pierre-Olivier Gourinchas
Massachusetts Institute of Technology (MIT) - Department of Economics, Harvard University - Department of Economics and University of California, Berkeley - Department of Economics
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Citation 12
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100.

The "Fundamental Transformation" in Macroeconomics

NBER Working Paper No. w5471
Number of pages: 14 Posted: 03 Jun 1998 Last Revised: 15 Dec 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 55 (776,648)

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101.

Structural Volatility in Chile: A Policy Report

IDB Working Paper No. 352
Number of pages: 52 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 54 (783,346)
Citation 4

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102.

Financial Conditions Targeting

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Financial Conditions Targeting

Number of pages: 102 Posted: 12 Dec 2024
Ricardo J. Caballero, Alp Simsek and Tomás Caravello
Massachusetts Institute of Technology (MIT) - Department of Economics, Yale School of Management and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 45 (870,362)

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E12, E32, E44, E52, G10 Financial conditions, monetary policy, financial noise shocks, noise traders, arbitrageurs, inelastic markets, endogenous volatility, forward guidance, data-dependency, policy counterfactuals, SVAR-IV Link to Latest Version

Financial Conditions Targeting

NBER Working Paper No. w33206
Number of pages: 103 Posted: 02 Dec 2024
Ricardo J. Caballero, Tomás Caravello and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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103.

Structural Volatility in Mexico: A Policy Report

IDB Working Paper No. 351
Number of pages: 54 Posted: 21 Apr 2011
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 53 (790,165)
Citation 1

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104.

Short and Long Run Externalities

NBER Working Paper No. w3810
Number of pages: 27 Posted: 24 Jul 2007 Last Revised: 01 Dec 2022
Eric J. Bartelsman, Ricardo J. Caballero and Richard K. Lyons
Vrije Universiteit Amsterdam, Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Berkeley
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105.

The Cost of Recessions Revisited: a Reverse-Liquidationist View

NBER Working Paper No. w7355
Number of pages: 40 Posted: 25 Feb 2000 Last Revised: 06 Feb 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 53 (790,165)
Citation 5

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106.

Inflation Targeting and Sudden Stops

NBER Working Paper No. w9599
Number of pages: 26 Posted: 05 Apr 2003 Last Revised: 25 Sep 2022
Ricardo J. Caballero and Arvind Krishnamurthy
Massachusetts Institute of Technology (MIT) - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 50 (811,448)
Citation 1

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107.

Microeconomic Rigidities and Aggregate Price Dynamics

NBER Working Paper No. w4162
Number of pages: 26 Posted: 27 Jun 2007 Last Revised: 17 Nov 2022
Ricardo J. Caballero and Eduardo M. R. A. Engel
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 47 (833,996)
Citation 3

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108.

Heterogeneity and Output Fluctuations in a Dynamic Menu-Cost Economy

NBER Working Paper No. w3729
Number of pages: 39 Posted: 15 Jan 2007 Last Revised: 11 Sep 2022
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 47 (833,996)
Citation 7

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109.

Durable Goods: An Explanation for Their Slow Adjustment

NBER Working Paper No. w3748
Number of pages: 41 Posted: 06 Jan 2007 Last Revised: 30 Sep 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 46 (841,918)
Citation 4

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110.

Explaining Investment Dynamics in U.S. Manufacturing: A Generalized (S,S) Approach

NBER Working Paper No. w4887
Number of pages: 46 Posted: 16 May 2011 Last Revised: 10 Nov 2022
Ricardo J. Caballero and Eduardo M. R. A. Engel
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 43 (866,082)
Citation 15

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111.

Inflating the Beast: Political Incentives Under Uncertainty

NBER Working Paper No. w13779
Number of pages: 36 Posted: 08 Feb 2008 Last Revised: 27 Aug 2022
Ricardo J. Caballero and Pierre Yared
Massachusetts Institute of Technology (MIT) - Department of Economics and Columbia University - Columbia Business School, Finance
Downloads 43 (866,082)

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112.

Price Rigidities, Asymmetries, and Output Fluctuations

NBER Working Paper No. w4091
Number of pages: 35 Posted: 10 Jul 2007 Last Revised: 07 Sep 2022
Ricardo J. Caballero and Eduardo M. R. A. Engel
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale University - Department of Economics
Downloads 43 (866,082)
Citation 1

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113.

Nonlinear Aggregate Investment Dynamics: Theory and Evidence

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Nonlinear Aggregate Investment Dynamics: Theory and Evidence

NBER Working Paper No. w6420
Number of pages: 63 Posted: 14 Aug 2012 Last Revised: 18 Jul 2022
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 43 (887,497)

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Nonlinear Aggregate Investment Dynamics: Theory and Evidence

Posted: 26 Jul 2000
Eduardo M. R. A. Engel and Ricardo J. Caballero
Yale University - Department of Economics and Massachusetts Institute of Technology (MIT) - Department of Economics

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114.

On the Ills of Adjustment

NBER Working Paper No. w5198
Number of pages: 38 Posted: 20 Jul 2000 Last Revised: 16 Sep 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 41 (883,041)
Citation 1

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115.

Near-Rationality, Heterogeneity and Aggregate Consumption

NBER Working Paper No. w4035
Number of pages: 28 Posted: 23 Sep 2000 Last Revised: 13 Jul 2022
Ricardo J. Caballero
Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 39 (900,903)
Citation 6

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116.

An Equilibrium Model of 'Global Imbalances' and Low Interest Rates

CEPR Discussion Paper No. 5573
Number of pages: 57 Posted: 27 Jun 2006
Pierre-Olivier Gourinchas, Ricardo J. Caballero and Emmanuel Farhi
University of California, Berkeley - Department of Economics, Massachusetts Institute of Technology (MIT) - Department of Economics and Harvard University - Department of Economics
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Citation 104
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Current account deficits, capital flows, interest rates, global portfolios and equilibrium, growth and financial development asymmetries, exchange rates, FDI, intermediation rents

117.

Improper Churn: Social Costs and Macroeconomic Consequences

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Improper Churn: Social Costs and Macroeconomic Consequences

NBER Working Paper No. w6717
Number of pages: 50 Posted: 07 Sep 2000 Last Revised: 10 Nov 2022
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)
Downloads 38 (933,745)

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Improper Churn: Social Costs and Macroeconomic Consequences

Posted: 23 Dec 1998
Ricardo J. Caballero and Mohamad L. Hammour
Massachusetts Institute of Technology (MIT) - Department of Economics and Ecole Normale Superieure (ENS)

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118.

Central Banks, Stock Markets, and the Real Economy

NBER Working Paper No. w32053
Number of pages: 39 Posted: 22 Jan 2024
Ricardo J. Caballero and Alp Simsek
Massachusetts Institute of Technology (MIT) - Department of Economics and Yale School of Management
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