Willem Buiter: Other Technical Articles
- "The
Good and the Bad Fiscal Theory of the Price Level." Sixteenth C. D.
Deshmukh Memorial
lecture. Mumbai: Reserve Bank of India, 11 April 2017. Alternative link.
- "Why Economists (and
Economies) Should Love Islamic Finance." With Ebrahim
Rahbari. Journal of
King
Abdelaziz University: Islamic Economics, vol. 28, issue 1. Discussion Forum:
Debt
versus Equity Contracts in the Backdrop of Financial Crises (January 2015): 139–6. Complete issue.
- "Central
Banks: Powerful, Political and Unaccountable?" British Academy
Keynes Lecture, 18 September 2014. Journal
of the British Academy. Open-access journal publishing articles
drawn from the Academy's lecture programme. Working paper version (longer than the published version).
- "Why Governments Default." With
Ebrahim Rahbari. In Rosa M. Lastra and Lee Buchheit eds. Sovereign
Debt Management. Oxford: Oxford
University Press, 2014, pp. 257–86. Working paper version.
- "The
Role
of
Central Banks in Financial Stability: How Has it Changed?" In Douglas D. Evanoff, Cornelia Holthausen, George G. Kaufman and Manfred Kremer, eds. The Role of Central
Banks in
Financial Stability. World
Scientific Studies in International Economics. Vol. 30. London: World Scientific Publishing Co., 2013, pp. 11–56.
- "Debt,
Financial
Crisis and Economic
Growth." With
Ebrahim Rahbari. Conference on Monetary Policy
and the
Challenge of Economic Growth. South Africa Reserve Bank.
Pretoria, South
Africa, 1–2 November and December 2012. In Monetary Policy
and
the Challenge of
Economic Growth: South African Reserve Bank Conference Series 2010. Pretoria:
South African Reserve Bank, 2012, pp. 1–51. Complete volume.
- "Fiscal Rules in
India: Are They Effective?" with Urjit R. Pate. In Chetan
Ghate, ed. The Oxford Handbook of the
Indian Economy. Oxford, Oxford University Press, 2012, ch. 21, pp. 621–55. Working paper version.
- "The
Icelandic
Banking Crisis and What to Do About It: The Lender of Last Resort
Theory of Optimal Currency Areas." With Anne C. Sibert. In Robert Z. Aliber and Gylfi Zoega, eds. Preludes
to
the Icelandic Financial Crisis. London: Palgrave Macmillan, 2011, pp.
241–75.
- "Greece
and the Fiscal
Crisis in the EMU." With Ebrahim Rahbari. Greek Version in
Gikas A. Hardouvelis, ed. From the International Crisis to
the
Greek and Euro Area Crisis: What Lies Ahead? Athens: Ekdotikos Oikos
A. A.
Libane, 21 March 2011.
- "Reversing
Unconventional Monetary Policy." 28th
SUERF
Colloquium—The Quest for Stability. SUERF, De Nederlandsche Bank, Rabobank and NIBE-SVV. Utrecht, the Netherlands,
3–4 September 2009.
- "Monetary Economics and the Political
Economy
of Central Banking: Inflation Targeting and Central Bank Independence
Revisited." In Jorge Carrera, ed. Monetary Policy Under
Uncertainty; Proceedings of the 2007 Money and Banking Seminar.
Buenos Aires: Banco Central de la Republica Argentina, 2008,
pp. 218–43. Working paper version.
Slide presentation.
- "Central
Banks and
Financial Crises." Symposium on Maintaining Stability in a Changing Financial System. Federal Reserve Bank of Kansas City. Jackson Hole, Wyoming, 21-23 August 2008. Working paper version. Symposium webpage.
- "New
Theories of Optimal Currency Areas
and Their Application to Poland’s Adoption of the Euro: The
Asymmetric-Shocks-on-its-Head and the
Lender-of-Last-Resort-Theories of Optimal Currency Areas." With
Anne C. Sibert. Common
Currency and Its Future: Lessons for the New Member State. Warsow: Narodowy
Bank Polski,
15 October 2008. In Raport Na Temat Pelnego Uczestnictwa Rzeczypospolitej Polskiej w Trzecim Etapi Unii Gospodarczej i Walutowej: Eseje, Zagranicznych i Polskich Ekonomistów. (Report on the Full Participation of the Republic of Poland in the Third Stage of the Economic and Monetary Union: Essays, Foreign and Polish Economists) Warsaw: National Bank of Poland, 2009, pp. 48–61.
- "How
the Eurosystem's Open-Market Operations Weaken Financial Market
Discipline (and What to Do About It)." With Anne C. Sibert. In Fiscal Policy and the Road to the Euro. Warsaw: National Bank of Poland, 2006, pp. 29–58.
- "Stabilisation
policy in New Zealand: Counting Your Blessings, One by One."
In Bob
Buckle and Aaron Drew, eds. Testing Stabilisation Policy
Limits
in a Small Open Economy Proceedings from a Macroeconomic Policy Forum,
E-book: Reserve Bank of New Zealand and The Treasury, 2006, pp. 37–74. Complete volume.
- "Excessive
Budget
Deficits, a Government-Abused Financial System, and Fiscal Rules." With Urjit R. Patel. Brookings Institution-NCAER
India Policy Forum Second Conference, Delhi, India July 2005. In Suman Bery, Barry Bosworth and Arvind Panagariya, eds. India
Policy Forum 2005/2006. London: SAGE Publications, 2006, pp. 1–54.
- "Nature's
Blessing or
Nature's Curse: The Political Economy of Transition in Resource-Based
Economies." With Akram Esanov and Martin Raiser. In Richard M
Auty
and Indra de Soysa, eds. Energy, Wealth and Governance in
the
Caucasus and Central Asia; Lessons not Learned, London: Routledge,
2006, pp. 39–56. Abstract.
- "Het
Binnenhof en de Raad van Economisch Adviseurs." With Hendrik
P. van
Dalen. Economisch Statistische Berichten, vol. 90 (16 December 2005): 533–5.
- "Joys
and Pains of Public Debt." In P. de Gijsel and H. Schenk,
eds. Multidisciplinary
Economics: the Birth of a New Economics Faculty in the Netherlands.
Netherlands: Springer, 2005, pp. 209–24.
- "To
Purgatory and
Beyond; When and How Should the Accession Countries from Central and
Eastern Europe Become Full Members of the EMU?" In Fritz
Breuss and
Eduard Hochreiter, eds. Challenges for Central Banks in an
Enlarged EMU. Vienna: Springer, 2005, pp.
145–86. Abstract.
- "Should
We Worry
about deflation? Prevention and Cure." 2003
McKenna Lecture
on International Trade and Economics: Perspective on the Economy. Lowe
Institute of Political Economy. Claremont, California, 2004. Abstract.
- "The
Return of
Deflation: What Can Central Banks Do?" In Hugh Stevenson,
ed. Challenges
for Europe. Baskingstoke, Hampshire: Palgrave Macmillan, 2004,
pp.
46–74. Abstract.
- "UEM Ou Politique
de L'Autruche? Les Candidats à L'UE(M) Face aux Questions de
Politiques Budgétaire et Monétaire." Revue
d'Économie Financière, No. 72, pp. 83–106, 2003.
- "Corporate
Governance in Developing, Transition and Emerging Market Economies." With Charles Oman and Steven Fries. OECD Development Centre Policy
Brief No. 23, 2003. Abstract. French version: La
Gouvernance d’Entreprise Dans les Pays en Développement, en Transition
et les Economies Emergentes." Centre de Développement de L'Ocde. Cahier de Politique Économique No.
23, 2003.
- "The
Case of Privatisation of Network Utilities." With Maria
Vagliasindi. In Gertrude Tumpel-Gugerell and Peter Mooslechner, eds. Structural Challenges for Europe. Cheltenham,
U.K.: Edward Elgar,
2003, pp. 355–387.
- "EMU
or Ostrich?." With Clemens Grafe. H. M. Treasury. EMU
Study; Submissions on EMU from Leading Academics. London: HMSO, June 2003, pp. 23–42.
- "Capital
Account Liberalization and Financial Sector Development in Transition
Countries." With Anita Taci. In Age F. P. Bakker and Bryan
Chapple,
eds. Capital Liberalization in Transition Countries: Lessons
from
the Past and for the Future. Cheltenham, U.K.: Edward Elgar,
2003,
pp. 105–41.
- "Reforming
EMU's Fiscal Policy Rules; Some Suggestions for Enhancing Fiscal
Sustainability and Macroeconomic Stability in an Enlarged European Union." With Clemens Grafe. In Marco Buti, ed. Monetary and Fiscal
Policies in EMU: Interactions and Coordination. Cambridge: Cambridge
University Press, 2003, pp. 92–145. Abstract.
- "Debt
in Transition Economies: Where is it
Heading, What Can Be Done About It?" With Ricardo Lago. Revue
D'économie Financière, Special
Issue, Ten Years of
Transition in Eastern European Countries, Achievements and Challenges
(2001): 191–213. French version: La Dette des Economies
en
Transition: Evolution et Marche à Suivre".
- "Central
Banking
and the Choice of Currency Regime in Accession Countries." With
Clemens Grafe. SUERF Studies No. 11, 2001. Reprinted in Revue D'économie Financière,
Special Issue, Ten Years of Transition in Eastern European Countries,
Achievements and Challenges, 2001, pp. 287–318. Abstract. Working paper version.
French version: "Banque
Centrale et Choix de Régimes de Change Pour les Pays
Candidats à l'Adhésion."
- "Liquidity
Traps:
How to Avoid Them and How to Escape Them." With Nikolaos
Panigirtzoglou. In Wim F.V. Vanthoor and Joke Mooij, eds. Reflections
on Economics and Econometrics, Essays in Honour of Martin Fase.
Amsterdam: De
Nederlandsche Bank NV, 2001, pp. 13–-58.
- "Designing
a Monetary
Authority." With Anne C. Sibert. In Anthony M. Santomero, Staffan
Viotti and Andres
Vredin, eds. Challenges for Central Banking.
London: Kluwer Academic
Publishers, 2001, pp. 173–85.
- "International
Financial Institutions— Adapting to a World of Private Capital Flows." With Hans Peter Lankes. Mimeo. European Bank for Reconstruction and
Development, 2001. Forthcoming in Dilip Das, ed. Perspectives
in
Global Finance. London: Routledge, 2003.
- "Is Iceland an Optimal Currency Area?" In
Mar
Gudmundsson, Tryggvi Thor Herbertsson and Gylfi Zoega, eds. Macroeconomic
Policy; Iceland in an Era of Global Integration. Reykjavik: University
of
Iceland Press, 2000, pp. 33–55. Working paper version.
- "The
New Economy and
the Old Monetary Economics." Bank of England
Quarterly Bulletin 40, no 2. (May 2000): 173–83.
- "Financial Reforms
and
Economic Transition: An Overview of the Major Issues." With Hélène Rey
and Ricardo Lago.
In Blejer, Mario I. and Skreb, Marko, eds. Financial
Sector
Transformation: Lessons
From Economies in Transition. Cambridge: Cambridge University Press, 1999,
pp. 1–18.
- "Interpreting
the ERM Crisis: Country-Specific
and Systemic Issues." With Giancarlo Corsetti and Paolo
Pesenti. Princeton
Studies in International Finance, No. 84, International
Finance
Section, Department of Economics, Princeton University, March 1998.
- "Aspects
of Fiscal
Performance in Some Transition Economies Under Fund-Supported Programs."
In Gary Saxonhouse and T.N. Srinivasan, eds. Development,
Duality,
and the International Economic Regime: Essays in Honor of Gustav Ranis.
Ann Arbor: University of Michigan Press, 1998, pp. 398–451.
- *"Uses and Limitations of
Public Debt." With Kenneth M. Kletzer. In
Steven Brakman, Hans van Ees and Simon K. Kuipers, eds. Market
Behaviour and Macroeconomic Modelling.
London: MacMillan,
1998, pp. 275–307. Earlier working paper version.
- "Budgetary Aspects of Stabilization and
Structural Adjustment in India: The Painful Road to a Sustainable
Fiscal-Financial-Monetary Plan." With Urjit R. Pate. In Mario I. Blejer
and Teresa Ter-Minassian, eds. Macroeconomic Dimensions of
Public
Finance; Essays in Honor of Vito Tanzi. Routledge Studies in the Modern World Economy. London: Routledge, 1997, 355–401. Working
paper version.
- "Transition
Issues for the European Monetary
Union." With Anne C. Sibert. De EMU in Breed
Perspectief; Preadviezen 1997,
Koninklijke Vereniging voor de Staathuishoudkunde. Utrecht: Uitgeverij
LEMMA
BV, 1997, pp. 1–17. Working paper version.
- *"Monetary Union and the
Role
of Automatic
Stabilizers." With Kenneth
M. Kletzer. In
Jean-Olivier Hairault,
Pierre-Yves Hénin and
Franck Portier eds. Business Cycles and
Macroeconomic Stability.
London: Kluwer Academic Publishers, 1997, pp.
109–47.
- "Promoting an Effective Market Economy in a
Changing World." With Ricardo Lago and Nicholas Stern. In Istvan
Székely and Richard Sabot, eds. Development Strategy and
Management of the Market Economy. Vol. 2. Oxford: Clarendon Press,
1997,
pp. 11–90. Working paper version.
- *"Solvency and Fiscal
Correction in India: An Analytical Discussion" with Urjit R. Patel. In S. Mundle, ed. Public
Finance; Policy Issues for India. Oxford: Oxford University Press,
1997,
pp. 30–75.
- "Saving and
Endogenous Growth: A Survey of
Theory
and Policy." In A. Heertje, ed. World Savings, Theory and
Policy. London: Blackwell Publishers, 1993, pp. 64–99. Working paper version.
- "Anomalous Speculative Attacks on Fixed
Exchange
Rate Fegimes: Possible Fesolutions of the 'Gold Standard Paradox'." With Vittorio U. Grill. In Paul Krugman and Marcus Miller, eds. Exchange
Rates and Currency Bands. Cambridge: Cambridge University Press,
1991, pp. 140–76. Working paper version.
- "Reflections
on the
Fiscal Implications of a Common Currency." With Kenneth M. Kletzer. In
Alberto Giovannini and Colin Mayer, eds. European Financial
Integration. Cambridge: Cambridge University Press, 1991, pp.
221–44.
- "Debt Neutrality, Redistribution and
Consumer
Heterogeneity: A Survey and Some Extensions." In W.C. Brainard et al.,
eds. Money, Macroeconomics and Economic Policy; Essays in
Honor of
James Tobin. Cambridge: MIT Press, 1991. Working paper version.
- "Can Public Spending Cuts Be Inflationary?"
in
W.H. Buiter, Principles of Budgetary and Financial Policy. Cambridge: MIT
Press, 1990, pp. 368–403. Working paper version.
- "Some Thoughts on the Role of Fiscal policy
in
Stabilization and Structural Adjustment in Developing Countries." in
W.H. Buiter, Principles of Budgetary and Financial Policy.
MIT
Press 1990, pp. 407–48. Working paper version.
- "The Right Combination of Demand and Supply
Policies: The Case for a Two-Handed Approach." in H. Giersch, ed. Macro
and Micro Policies for More Growth and Employment. Kiel
Institute
of World Economics, 1988, 305–45. Working paper click version.
- "Fiscal Policy in Open Interdependent
Economies."
in A. Razin and E. Sadka, eds. Economic Policy in Theory and
Practice. London: Macmillan, 1987, pp. 101–44. Working paper version.
- "Fiscal Prerequisites for a Viable Managed
Exchange Rate Regime." In Wisselkoersen in een Veranderende
Wereld,
Preadvies van de Vereniging voor de Staathuishoudkunde.
Leiden: Stenfert
Kroese, 1986, pp. 99–117. Working paper version.
- "Macroeconomic
Policy Design in an Interdependent
World Economy: An Analysis of Three Contingencies." International
Monetary Fund Staff Papers, vol. 33 (September 1986): 541–82. In J.A. Frenkel, ed.
International Aspects of Fiscal Policies. Chicago: University
of Chicago Press, 1988.
- "Policy
Evaluation and
Design for Continuous Time Linear Rational Expectations Models: Some
Recent Developments." in M.H. Peston and R.E. Quandt, eds. Prices,
Competition and Equilibrium. London: Philip Allan, pp. 84–108.
- "International
Monetary Policy to Promote Economic Recovery." In C. van Ewijk and J.J.
Klant,
eds. Monetary
Conditions for Economic Recovery. Financial and Monetary Policy Studies. Vol. 11, Dordrecht: Martinus Nijhoff
Publishers, 1985 and Ebook: Springer, 1985, pp. 129–60
- "Costs
and Benefits of
an Anti-Inflationary Policy: Questions and Issues." in V.E.
Argy
and J.W. Nevile, eds. Inflation and Unemployment: Theory,
Experience and Policy-Making. London: George Allen & Unwin,
1985, 11–38.
- "Policy
Decentralization and Exchange Rate
Management in Interdependent Economies." With J. Eaton, in J.S.
Bhandari, ed. Exchange Rate Management Under Uncertainty.
Cambridge, Massachuetts, MIT Press, 1985, pp. 31–54. Working paper here.
- "Allocative and Stabilization Aspects of
Budgetary Financial Policy: An Inaugural Lecture." London
School of
Economics and Political Science, 1984. In W.H. Buiter. Principles
of Budgetary and Financial Policy. Cambridge, Massachusetts: MIT Press, 1990, pp. 25–46. Working
paper version.
- *"The Trade-Off
Between
Inflation and
Unemployment." With Marcus H. Miller In Keith Cowling and Paul Stoneman, eds. Out
of Work: Perspectives
on Mass Unemployment. Warwick: Department of
Economics, University of
Warwick, 1984.
- "Changing
the Rules: Economic Consequences of the
Thatcher Regime." With M. H. Miller. Brookings
Papers on
Economic
Activity, (1983, no. 2): 305–79.
- "International Balance of Payments Financing
and
Adjustment." With J. Eaton. In G. von Furstenberg, ed. International
Money and Credit: The Policy Roles. Washington, D.C.: International Monetary
Fund,
1983. Working paper version.
- "The
Theory of Optimum Deficits and Debt." In The
Economics of Large Government Deficits: Proceedings of a Conference Held in October 1983. Conference Series No. 27. Boston: Federal Reserve Bank
of
Boston, 1983, 46–69. Working paper version.
- "Measurement
of the Public Sector Deficit
and Its
Implications for Policy Evaluation and Design." International
Monetary Fund Staff Papers, vol. 30 (June 1983). Working
paper version.
- "Monetary and Fiscal Policy with Flexible
Exchange Rates." With William H. Branson. In Jagdeep S. Bhandari and
Bluford H. Putnam, with Jay H. Levin, eds. Economic
Interdependence and Flexible Exchange Rates. Cambridge, Massachusetts: MIT University
Press,
1983, pp. 351–81. Working paper version.
- "Real
Exchange Rate Overshooting and the Output
Costs of Bringing Down Inflation: Some Further Results." With
M.
Miller. In Jacob Frenkel, ed. Exchange Rates and International Macroeconomics. Chicago: University of Chicago Press, 1983, pp. 317–68.
- "The
Thatcher Experiment: The First Two Years." With M. Miller. Brookings Papers on Economic Activity
(1981, no. 2): 315–67. In Italian, in abbreviated form:."I Primi Due Anni
Dell Esperimento Thatcher." in Franco Angeli, ed. Problemi
del
Socialismo/26, Crisi Dello Sviluppo E. Politiche Dell 'Offerta Negli
Anni '80, January–April 1983, pp. 52–-63.
- "Oil, Disinflation
and Export
Competitiveness: A Model of the 'Dutch Disease." With Douglas D. Purvis. In Jagdeep S.
Bhandari and Bluford H. Putnam with Jay H. Levin, eds. Economic
Interdependence and Flexible Exchange Rates. Cambridge, Massachusetts: MIT University
Press,
1983, pp. 221–47. Working paper version.
- "Implications for the Adjustment Process of
International Asset Risks." In R.G. Hawkins, R.M. Levich and G.G.
Wihlborg eds. The Internationalization of Financial Markets
and
National Economic Policy. Greenwich, Connecticut: JAI Press, 1983, 69–102. Working paper version.
- "The Role of Economic policy After the New
Classical Macroeconomics." In D. Currie, R. Nobay and D.A. Peel eds. Macroeconomic
Analysis. London: Croom Helm, 1981, pp. 233–95. Working
paper version.
- "Macroeconomic Modelling for Policy
Evaluation
and Design." In Bank of England. The Usefulness of
Macroeconomic
Models; Papers Presented to the Panel of Academic Consultants,
no.
14 (March 1981): 15–38. Working paper version.
- "Fiscal
and Monetary Policies, Capital Formation
and Economic Activity." With J. Tobin. In G. von Furstenberg,
ed. The
Government and Capital Formation. Cambridge, MA: Ballinger, 1980, pp. 73–151.
- "Monetary,
Financial and Fiscal Policy Under
Rational Expectations." International Monetary Fund Staff
Papers, vol. 27 (December 1980): 758–813. Working paper version.
- "Debt
neutrality: A Brief Review of Doctrine and
Evidence." With J. Tobin. In G. von Furstenberg, ed. Social
Security Versus Private Saving. Cambridge, MA: Ballinger,
1979, pp. 1–27.
- "Government Finance in
an
Overlapping Generations
Model with Gifts and Bequests." In G. von Furstenberg, ed. Social
Security Versus Private Saving. Cambridge, MA: Ballinger,
1979.
- "Optimal
Foreign Exchange Market Intervention
with Rational Expectations." In J. Martin and A. Smith eds. Trade
and Payments Adjustment Under Flexible Exchange Rates.
London: Macmillan
1979, pp. 1–37. Working paper version. Volume can be borrowed from Open Library
- "Long-Run
Effects of Fiscal and Monetary Policy
on Aggregate Demand." With J. Tobin, In Monetarism:
Studies in
Monetary Economics. North-Holland, 1976, pp. 273–309. Working paper version.