Guillermo Calvo

Q: What Schools Are Affiliated With Guillermo Calvo

Guillermo Calvo is affiliated with the following schools: University of Pennsylvania, University of Maryland, College Park, Yale University, Columbia University

Guillermo Calvo's AcademicInfluence.com Rankings

Guillermo Calvo

Economics

#106

World Rank

#143

Historical Rank

Monetary Economics

World Rank

Historical Rank

Macroeconomics

#21

World Rank

#24

Historical Rank

economics Degrees

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Economics

Why Is Guillermo Calvo Influential?

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According to Wikipedia, Guillermo Antonio Calvo is an Argentine-American economist who is director of Columbia University's mid-career Program in Economic Policy Management in their School of International and Public Affairs .

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Guillermo Calvo's Published Works

Number of citations in a given year to any of this author's works

Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author

Published Works

Staggered prices in a utility-maximizing framework (1983) (8658)
Fear of Floating (2000) (3454)
Capital Inflows and Real Exchange Rate Appreciation in Latin America: The Role of External Factors (1992) (1561)
Capital Flows and Capital-Market Crises: The Simple Economics of Sudden Stops (1998) (1316)
Inflows of capital to developing countries in the 1990s (1996) (1010)
Rational contagion and the globalization of securities markets (2000) (913)
Servicing the Public Debt: The Role of Expectations (1988) (855)
On the Time Consistency of Optimal Policy in a Monetary Economy (1978) (753)
On the Empirics of Sudden Stops: The Relevance of Balance-Sheet Effects (2004) (707)
When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options (2000) (545)
The Mirage of Exchange Rate Regimes for Emerging Market Countries (2003) (487)
Supervision, Loss of Control, and the Optimum Size of the Firm (1978) (454)
Sudden Stops, the Real Exchange Rate, and Fiscal Sustainability: Argentina's Lessons (2002) (435)
Reflections on Mexico''s Balance of Payments Crisis: A Chronicle of a Death Foretold (1996) (384)
Fixing for Your Life (2000) (371)
Contagion in Emerging Markets: When Wall Street is a carrier (2004) (365)
Varieties of Capital-Market Crises (1995) (364)
A Model of Exchange Rate Determination under Currency Substitution and Rational Expectations (1977) (353)
Inflation Stabilization and Bop Crises in Developing Countries (1998) (331)
Regional Contagion and the Globalization of Securities Markets (1999) (331)
Hierarchy, Ability, and Income Distribution (1979) (313)
Currency Substitution in Developing Countries: An Introduction (1992) (312)
Mexico's Balance-of-Payments Crisis : A Chronicle of Death Foretold (1996) (276)
Systemic Sudden Stops: The Relevance of Balance-Sheet Effects and Financial Integration (2008) (273)
The Capital Inflows Problem: Concepts and Issues (1993) (260)
Capital Markets and the Exchange Rate with Special Reference to the Dollarization Debate in Latin America (2001) (253)
Capital Flows and Macroeconomic Management: Tequila Lessons (1996) (242)
Temporary Stabilization: Predetermined Exchange Rates (1986) (232)
Sudden Stops and Phoenix Miracles in Emerging Markets (2006) (230)
Capital-Markets Crises and Economic Collapse in Emerging Markets: An Informational-Frictions Approach (2000) (221)
Urban Employment and Wage Determination in LDC's: Trade Unions in the Harris-Todaro Model (1978) (209)
Optimal Time-Consistent Fiscal Policy with Finite Lifetimes (1988) (203)
Output Collapse in Eastern Europe: The Role of Credit (1993) (193)
The Perils of Sterilization (1990) (181)
Balance of Payments Crises in a Cash-in-Advance Economy (1987) (170)
Private capital flows to emerging markets after the Mexican crisis (1996) (168)
INFLATION STABILIZATION AND NOMINAL ANCHORS (1994) (161)
Inflows of Capital to Developing Countries in the 1990s: Causes and Effects (1994) (160)
Rational Herd Behavior and the Globalization of Securities Markets (1998) (159)
Public debt management: theory and history: Indexation and maturity of government bonds: an exploratory model (1990) (149)
Debt, Stabilization, and Development: Essays in Memory of Carlos Diaz-Alejandro (1989) (143)
Quasi-Walrasian Theories of Unemployment (1979) (141)
Macroeconomic Policy in a World Economy (1999) (135)
Technology, Entrepreneurs, and Firm Size (1980) (133)
On Models of Money and Perfect Foresight (1979) (123)
Monetary Policy Challenges in Emerging Markets: Sudden Stop, Liability Dollarization, and Lender of Last Resort (2006) (117)
Staggered Contracts and Exchange Rate Policy (1983) (113)
Petty Crime and Cruel Punishment: Lessons from the Mexican Debacle (1996) (113)
On Dollarization (2002) (112)
Stagflationary Effects of Stabilization Programs in Reforming Socialist Countries: Enterprise-Side and Household-Side Factors (1992) (107)
Credit Markets, Credibility, and Economic Transformation (1991) (104)
Chapter 24 Inflation stabilization and bop crises in developing countries (1999) (103)
Stabilizing a previously centrally planned economy: Poland 1990 (1992) (95)
UNCERTAIN DURATION OF REFORM (1997) (95)
Fixed Versus Flexible Exchange Rates: Preliminaries of a Turn-of-Millenium Rematch (1999) (91)
Optimal Holdings of International Reserves: Self-Insurance Against Sudden Stop (2012) (91)
Emerging Capital Markets in Turmoil: Bad Luck or Bad Policy? (2005) (90)
Relative Price Volatility Under Sudden Stops: The Relevance of Balance Sheet Effects (2005) (89)
Crises in Emerging Market Economies: A Global Perspective (2005) (89)
Presidential Address: Globalization Hazard and Delayed Reform in Emerging Markets (2002) (82)
On the Flexibility of Monetary Policy: The Case of the Optimal Inflation Tax (1993) (80)
On the costs of temporary policy (1987) (78)
Fighting Inflation with High Interest Rates: The Small Open Economy Case under Flexible Prices (1995) (77)
Optimal Maturity of Nominal Government Debt: An Infinite-Horizon Model (1992) (76)
Exchange-Rate-Based Stabilization under Imperfect Credibility (1991) (75)
On the indeterminacy of interest rates and wages with perfect foresight (1978) (74)
Targeting the real exchange rate (1994) (73)
The debt burden and its consequences for monetary policy : proceedings of a conference held by the International Economic Association at the Deutsche Bundesbank, Frankfurt, Germany (1998) (73)
Financial Crises and Liquidity Shocks: A Bank-Run Perspective (2009) (71)
Contagion, Globalization, and the Volatility of Capital Flows (2019) (70)
Capital Flow Reversals,the Exchange Rate Debate,and Dollarization (1999) (69)
Money, Exchange Rates, And Output (1996) (69)
Currency substitution and the real exchange rate: the utility maximization approach (1985) (69)
Optimal Inflation Tax under Precommitment: Theory and Evidence (1992) (68)
Costly Trade Liberalizations: Durable Goods and Capital Mobility (1987) (68)
Devaluation: Levels versus rates (1981) (66)
Capital Inflows to Latin America: The 1970s and 1990s (1994) (65)
Optimal seigniorage from money creation: An analysis in terms of the optimum balance of payments deficit problem (1978) (65)
Fractured Liberalism: Argentina under Martínez de Hoz (1986) (62)
Money, Capital Mobility, and Trade : Essays in Honor of Robert A. Mundell (2001) (61)
The Mayekawa Lecture: Puzzling over the Anatomy of Crises— Liquidity and the Veil of Finance (2013) (60)
International factor mobility and national advantage (1983) (58)
The Incidence of a Tax on Pure Rent: A New (?) Reason for an Old Answer (1979) (53)
Empirical Puzzles of Chilean Stabilization Policy (1998) (52)
THE CASE FOR HARD PEGS IN THE BRAVE NEW WORLD OF GLOBAL FINANCE (2000) (51)
Output Collapse in Eastern Europe (1992) (51)
The Labor Market Consequences of Financial Crises with or Without Inflation: Jobless and Wageless Recoveries (2012) (49)
A Theory of Rational Inflationary Inertia (2004) (48)
Understanding The Russian Virus, with special reference to Latin America (1998) (46)
Currency Substitution in Developing Countries (1992) (46)
Time Consistency of Fiscal and Monetary Policy : A Comment (1990) (44)
Are High Interest Rates Effective for Stopping High Inflation? Some Skeptical Notes (1992) (44)
Individual forecasting and aggregate outcomes: The stability of rational expectations in macroeconomic models (1984) (43)
A European Central Bank?: Monetary policy, capital controls and seigniorage in an open economy (1989) (42)
Efficient and Optimal Utilization of Capital Services (1975) (41)
From Centrally-Planned to Market Economies (1991) (41)
Trying to Stabilize: Some Theoretical Reflections Based on the Case of Argentina (1983) (40)
Capital inflows to Latin America with reference to the Asian experience (1995) (39)
Building sound finance in emerging market economies (1993) (39)
The Growth-Interest Rate Cycle in the United States and its Consequences for Emerging Markets (2001) (37)
Money Demand, Bank Credit, and Economic Performance in Former Socialist Economies (1994) (37)
Some Notes on Time Inconsistency and Rawls' Maximin Criterion (1978) (36)
Inflation Inertia and Credible Disinflation - the Open Economy Case (2003) (36)
The Stability of Models of Money and Perfect Foresight: A Comment (1977) (36)
Labor Market, Financial Crises and Inflation: Jobless and Wageless Recoveries (2012) (36)
The Inefficiency of Unemployment: The Supervision Perspective (1985) (35)
Optimal Growth in a Putty-Clay Model (1976) (35)
Growth, Debt and Economic Transformation: The Capital Flight Problem (1998) (34)
The resolution of global imbalances: Soft landing in the North, sudden stop in emerging markets? (2006) (30)
Inter-enterprise arrears in economies in transition (1994) (28)
Testimony On Full Dollarization (1999) (27)
Reflections on Dollarization (2001) (27)
Interest Rate Policy in a Small Open Economy: The Predetermined Exchange Rates Case (1990) (27)
Real exchange rate dynamics with nominal parities Structural change and overshooting (1987) (26)
Notes on Price Stickiness: With Special Reference to Liability Dollarization and Credibility (2000) (26)
Competitive banks and the inflation tax (1983) (25)
Obstacles to Transforming Centrally-Planned Economies: The Role of Capital Markets (1991) (24)
The Consequences and Management of Capital Inflows: Lessons for Sub-Saharan Africa (1999) (24)
Currency boards and external shocks : how much pain, how much gain? (1997) (22)
Capital Inflows to Latin America; The 1970's and the 1990's (1992) (20)
Sudden Stop, Financial Factors and Economic Collapse: A View from the Latin American Frontlines (2004) (19)
Temporary stabilization policy: The case of flexible prices and exchange rates (1991) (19)
Debt relief and debt rescheduling: The optimal-contract approach (1991) (19)
Financial Sector Reforms and Exchange Arrangements in Eastern Europe (1993) (19)
Temporary stabilization policy: The case of flexible prices and exchange rates (1991) (19)
Nominal Exchange Rate Anchoring Under Inflation Inertia (2002) (18)
Testimony on Dollarization (2000) (18)
The Simple Economics of Sudden Stops (1999) (18)
On the optimal acquisition of foreign capital through investment of oil export revenues (1978) (18)
Jobless Recoveries During Financial Crises: Is Inflation the Way Out? (2013) (17)
Economic Policy in Stormy Waters: Financial Vulnerability in Emerging Economies (2001) (17)
The Management of Capital Flows: Domestic Policy and International Cooperation (1996) (16)
Macroeconomics in Times of Liquidity Crises (2016) (16)
Macroeconomic implications of the government budget: Some basic considerations (1985) (15)
FISCAL CRISIS RESOLUTION : TAXATION VERSUS INFLATION (2003) (15)
The Price Theory of Money, Prospero&Apos;S Liquidity Trap, and Sudden Stop: Back to Basics and Back (2012) (14)
Disinflation and Interest-Bearing Money (1996) (14)
From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since Wwii (2016) (14)
HOW WELL DO MEASUREMENTS OF AN ENABLING DOMESTIC ENVIRONMENT FOR DEVELOPMENT STAND UP (2004) (13)
The Capital Inflows Problem (1993) (13)
Controlling Inflation: The Problem of Non-Indexed Debt (1988) (13)
Eastern Europe in Transition: From Rcession to Growth? Proceedings of a Conference on the Macroeconomic Aspects of Adjustment Copsponsored by the International Monetary Fund and the World Bank (1993) (12)
Optimal Maximin Accumulation with Uncertain Future Technology (1977) (12)
Stabilization Dynamics and Backward-Looking Contracts (1993) (11)
From Centrally-Planned to Market Economies; The Road from CPE to PCPE (1991) (11)
CONTROLS ON CYCLICAL CAPITAL INFLOWS Some Skeptical Notes (2010) (11)
Optimal Maturity of Nominal Government Debt: The First Tests (1991) (11)
Macroeconomics in Times of Liquidity Crises: Searching for Economic Essentials (2016) (11)
Why is 'The Market' so Unforgiving? Reflections on the Tequilazo (1996) (11)
Interest Rate Rules, Inflation Stabilization, and Imperfect Credibility: The Small Open Economy Case (2007) (10)
Is Inflation Effective for Liquidating Short-Term Nominal Debt? (1989) (10)
Sudden Stop and Sudden Flood of Foreign Direct Investment: Inverse Bank Run, Output, and Welfare Distribution (2014) (10)
Perspectives on Inflation Targeting, Financial Stability and the Global Crisis (2010) (10)
Tax-financed government spending in a neoclassical model with sticky wages and rational expectations (1980) (9)
Inflation inertia and credible disinflation (2007) (8)
Growth and External Financing in Latin America (2001) (8)
FIGHTING CHRONIC INFLATION WITH INTEREST RATES Cutting a Hydra ' s Heads with a Swiss Army Knife ? (2017) (8)
Optimal Time-Consistent Fiscal Policy with Uncertain Lifetimes (1985) (8)
WHY DO SOME COUNTRIES RECOVER MORE READILY FROM FINANCIAL CRISES ? (2004) (8)
Fiscal policy, welfare, and employment with perfect foresight (1979) (8)
Betting against the state socially costly financial engineering (2000) (8)
Debt Relief and Default Penalties in an International Context (1989) (8)
Output Collapse in Eastern Europe; The Role of Credit (1992) (7)
Credibility and the Dynamics of Stabilization Policy (1990) (7)
Hard Peg and Monetary Unions . Main Lessons from the Argentine Experience (2002) (7)
The liquidity approach to bubbles, crises, jobless recoveries, and involuntary unemployment (2015) (7)
Money Supply and Interest Rate Policy in a New-Keynesian Framework (1990) (7)
The Unforgiving ‘Market’ and the Tequilazo (1998) (7)
Monetary and Exchange Rate Policy for Mexico: Key Issues and a Proposal (1997) (6)
Growth and Inflationary Finance: Variations on a Mundellian Theme (1983) (6)
Capital Flow Volatility: Issues and Policies (2001) (6)
Monetary policy and interenterprise arrears in post-communist economies: Theory and evidence (1996) (5)
THE LIQUIDITY APPROACH AND THE PRICE THEORY OF MONEY: Disentangling the Mysteries of Financial Crises (2013) (5)
Involuntary unemployment and inventories: An exploratory model of equilibrium and pure competition (1982) (5)
Capital accumulation and welfare: a note (1979) (5)
Reserves and the managed float: a search for the essentials (1985) (4)
Capital Flows in Central and Eastern Europe (1995) (4)
Macroprudential Policies in a Global Perspective (2014) (4)
Optimal Holdings of International Reserves-With Special Reference to Balance-Sheet Effects and Sudden Stop (2012) (4)
Demand Fluctuations, Inventories and Capacity Utilization (1984) (4)
A Monetary and Fiscal History of Latin America, 1960–2017 (2020) (4)
Interest Rate Targeting in a Small Open Economy : The Predetermined Exchange Rates Case (1990) (3)
The Chilean economy in the 1970s: A comment (1982) (3)
La tasa de cambio real como meta de política: teoría y evidencia [Targeting the real exchange rate: Theory and evidence] (1994) (3)
Trade Reforms of Uncertain Duration and Real Uncertainty; A First Approximation (1994) (3)
Interest Rate Targeting in a Small Open Economy (1990) (2)
Open economy macroeconomics: Rudiger Dornbusch, (Basic Books, New York, 1980) pp. ix+293 (1981) (2)
Enter the Dragon: Risks from China to Latin America (2015) (2)
LOOKING AT FINANCIAL CRISES IN THE EYE Some Basic Observations (2010) (2)
Optimal population and capital over time: the maximum perspective. (1979) (2)
Inflation targeting in hard times (2010) (1)
Exchange rate stabilization under imperfect credibility (1991) (1)
The ex-post behavior of firms offering optimal employment contracts (1978) (1)
CAPITAL FLOWS: EMERGING ISSUES (1998) (1)
Latin America's Policy Options for Times of Protectionism (2017) (1)
Obstacles to Transforming Centrally-Planned Economies (1991) (1)
Presented before the Subcommittee on Domestic and Monetary Policy Committee on Banking and Financial Services (1)
Latin America: Back to the 1980s or Heading for Rebound? (2015) (1)
Global and Local Challenges in Argentina and Brazil (2018) (1)
LIQUIDITY DEFLATION AND SAFE ASSETS SHORTAGE Some Microfoundations (2017) (1)
Liquidity Deflation and Liquidity Trap Under Flexible Prices: Some Microfoundations and Implications (2019) (1)
ESTIMATION AND CONTROL OF A MACROECONOMIC MODEL WITH (2007) (1)
LIQUIDITY DEFLATION : Supply-Side Liquidity Trap , Deflation Bias and Flat Phillips Curve (2017) (1)
Efficiency and optimality in a heterogeneous capital model, putty-cray (1977) (1)
The End of a Cycle in Latin America and Its Associated Risks (2015) (1)
Protectionist Threats and Increasing Financial Volatility: Is Latin America at a Crossroads? (2018) (1)
EASY TO EXPLAIN, HARD TO PROGNOSTICATE Discussion Notes on Systemic Sudden Stops 1 (2009) (1)
UNCERTAIN FUTURE TECHNOLOGY (1977) (0)
Latin America's Options for Times of Protectionism (2017) (0)
North-Holland STAGGERED PRICES IN A UTILITY-MAXllMIZING FRAMEWORK (2008) (0)
Munich Personal RePEc Archive Capital Inflows to Latin America : The 1970 s and 1990 s (2013) (0)
Systemic sudden stops: Crises and recoveries in EMs (2016) (0)
Joined at the Hip: Monetary and Fiscal Policy in a Liquidity-Dependent World (2022) (0)
Asset prices and self-fulÞlling macroeconomic pessimism∗ (2004) (0)
Fear of Floating Author ( s ) : (2008) (0)
Empirical Puzzles of Chilean Stabilization Policy 1 (1998) (0)
SERIES OBSTACLES IO TRANSFORMING CENTRALLY-PLA 1 ' NED ECONOMIES : THE ROLE OF CAPITAL MARKETS (2015) (0)
The COVID-19 Attack on Latin America: Proposals for an Effective Response (2020) (0)
Trade Openness and Monetary Policy Rules (2007) (0)
Welfare, Banks, and Capital Mobility in Steady State: The Case of Predetermined Exchange Rates (1986) (0)
Capital Flows, Real Exchange Rates, and Capital Controls: What Is the Scope of Liberalization for Tunisia? (2013) (0)
Argentina's Challenging Path to More Open Markets (2016) (0)
PUBLIC DEBT AND THE MACROECONOMY (1999) (0)
An Assessment of the Subprime Crisis with Special Reference to Latin America (2009) (0)
MACROECONOMICS (ESSIM) 2013 (2013) (0)
The Logic behind the Conjecture (2011) (0)
A number of authors have suggested that the trends in organizational change and competition are related ( (2011) (0)
Cruel Punishment : Lessons from the Mexican Debacle (2008) (0)
Book reviews (2002) (0)
Economic Reform, Foreign Shocks, and Exchange Rates (2007) (0)
Leonardo “Pepe” Auernheimer (2011) (0)
What is Holding Back Growth in Latin America and the Caribbean ? What Should Governments Do ? (2001) (0)
The Consequences and Management of Capital Inows: Lessons for Sub-Saharan (2008) (0)
Efficiency Wage Models of the Labor Market: Hierarchy, Ability, and Income Distribution (1986) (0)
THELIQUIDITYAPPROACHTOBUBBLES,CRISES,JOBLESSRECOVERIES, ANDINVOLUNTARYUNEMPLOYMENT (2011) (0)
Mexico's Financial Risks: Solving Pemex for a Solvent Mexico (2019) (0)
Capital Flows or Capital Flaws (2003) (0)
The Current Financial Crisis: Will Latin America Be Caught in the Web, Again? (2009) (0)
ThePriceTheoryofMoney,Prospero's LiquidityTrap,andSuddenStop BacktoBasicsandBack (2012) (0)
Formulating a Policy Response: Reply to Snowden (1993) (0)

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Published Works

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