Lecture notes and related material

  1. Lecture Notes
  2. Financial Globalization and Global Imbalances: Promises and Facts
  3. Class Presentations for Lectures on pp. 33-49 of class notes
  4. Lagrangean Maximization for the Small Open Economy with Money
  5. Class presentation on "Before and After of Financial Crises"
  6. The Public Debt Crisis of the United States
  7. Currency Crises with Real Effects in Two-Period Model
  8. Fisherian Deflation, Credit Collapse and Sudden Stops
  9. Example of Current Account Determination in the General Equilibrium of a Small Open Economy
  10. Using the Metzler Diagram to explain Ben Bernanke's 2005 speech about the US current account defincit and the World Savings glut
  11. Petty Crime and Cruel Punishment: Lessons from the Mexican Debacle (AER, 1996) (joint with Guillermo A. Calvo)
  12. Effects of Globalization on Developing Countries: Some Empirical Evidence (IMF publication by former IMF Chief Economist Ken Rogoff and co-authors)

Problem SETS

  1. Problem Set 1 (due Sept. 26 beginning of class) AVAILABLE
  2. Problem Set 2 (due October 17 beginning of class)AVAILABLE
  3. Problem Set 3 (due October 31 beginning of class) AVAILABLE

COUNTRY ASSIGNMENTS FOR TERM PAPERs

  1. List of country assignments for term papers  AVAILABLE

DOWNLOADABLE REFERENCE TEXTBOOKS

  1. Macroeconomics in the Global Economy by J. Sachs & F. Larrain
  2. International Macroeconomics by S. Schmitt-Grohe, Martin Uribe & M. Woodford

documentaries and movies

  1. Commanding Heights Episode Three: The New Rules of The Game (1999 PBS Documentary on Globalization, YouTube version)
  2. House of Cards (CNBC documentary on U.S. housing crisis, available for rent)
  3. Too Big To Fail (HBO movie about U.S. financial crisis based on A. Sorkin's book, available for rent)
  4. Alan Greenspan, Brookfield Born & the Warning (2009 Frontline Episode on U.S. financial deregulation of the 1990s) 
  5. Money, Power and Wall Street (2012 Frontline Episodes on 2008 Global Financial Crisis)

Articles from the financial media and related material

2018

The Economist (Nov. 24): Emerging markets' currencies have staged a comeback
Wall Street Journal (Nov. 10): The Eurozone's 19th Nervous Breakdown
The Economics (Nov. 15): China: Ten-Year Hangover
The Economist (Oct. 13) ): Spotting the Black Swans
Wall Street Journal (Oct. 19) China Posts Weakest Growth in Nearly a Decade
Wall Street Journal (Oct. 10) Ben Bernanke’s End Game
Wall Street Journal (Oct. 9) IMF Warns of Possible Emerging-Markets Crisis
Wall Street Journal (Oct. 9) Rupee Tumbles After Pakistan Requests IMF Bailout
Wall Street Journal (Oct. 8) Pakistan Requests IMF Bailout Talks
The Economist (Sept. 15) The Half-Life of a Currency
The Economist (Sept. 15) What the sliding lira and economy mean for Turkey’s banks
The Economist (Sept. 20): Crushed and fried: Asia is not immune to emerging-market woe
The Economist (Sept. 20): Argentina's-president-struggles-with-a-sinking-economy

Wall Street Journal (Sept. 15): Get Ready for the Next Financial Crisis

Wall Street Journal (Sept. 13): Bailouts Shouldn't Be Only for Bank

Wall Street Journal (Sept. 13): Turkish Bank Lifts Rates, in Defiance of Erdogan

Wall Street Journal (Sept. 11): Building Boom Unravels, Deepening Turkey's Economic Crisis

The Economist (Sept. 6): Failing Conventionally, Why Argentine orthodoxy has worked no better that Turkish...
Wall Street Journal (Sept. 8): The Financial Crisis Made Us Afraid of Risk-For a While
Wall Street Journal (August 30): Fresh Stress Grips Emerging Market Currencies


2014

The Economist: The Headwinds Return
Wall Street Journal Sept 7th (ECB's Draghi Takes Gamble on QE-Lite)
Wall Street Journal August 30th (Euro-zone very low inflation)
Wall Street Journal August 26th (How Would the Fed Raise Rates?)
The Economist: The Slumps that Shaped Finance


2012

Wall Street Journal March 7th (Central Bank Balance Sheets)
Wall Street Journal February 11th (U.S. Budget to call for taxes on wealthy)
Washington Post February 5th (Robert J. Samuelson's editorial on "World Economy's Uncharted Territory")
Washington Post February 1st (European Leaders Adopt Treaty)
Bloomberg January 25 (Greek Default Looms)

2009

Wall Street Journal October 28 (Three Theories on Solving the 'Too Big to Fail' Problem')
Wall Street Journal October 22 (Preventing the Next Financial Crisis)
Wall Street Journal September 17 (The Stimulus Didn't Work)
Wall Street Journal September 15 (Lehman and the Financial Crisis)
Wall Street Journal September 9 (Record Drop Hits Borrowing)
Wall Street Journal September 7 (ObamaCare's Crippling Deficits)

2008 and older

Yahoo Finance October 27 (column of Steinon on origins and perspectives of US Crisis)
Washington Post October 15 (what went wrong with the system)
Washington Post October 14 (IMF and small countries)
Washington Post October 14 (US forces banks to recapitalize)
Washington Post October 14 (US to invest 250 Banks)
Wall Street Journal September 20 (relating 2008 crisis to LTCM 1998 collaps and its players)
Wall Street Journal September 20 (on Sept 17 "Black Wednesday")
Wall Street Journal September 20 (reviewing previous U.S. financial crises since 1792)
Sub-prime debacle for beginners (a slide show with the basics of the subprime crisis, very funny!)
Wall Street Journal series on Fall 1998 meltdown (a three-article series on the Fall 1998 Russian default, the collapse of LTCM and the financial meltdown)
Wall Street Journal article on Fannie and Fredie bailout
Washington Post column with the official details on Paulson's $700 billion bailout plan
Washington Post article on the Paulson bailout plan