Recent Papers
From the Postwar World Economy to the Modern World Economy, 1973-2023
Maurice Obstfeld
In Floating Exchange Rates at Fifty, edited by Douglas A. Irwin and Maurice Obstfeld, Peterson Institute for International Economics, 2024
Economic Multilateralism 80 Years after Bretton Woods
Maurice Obstfeld
Symposium on “The Changing World Order, Global Economic Governance, and Liberal Internationalism,” Oxford Review of Economic Policy, forthcoming in 2024
Lessons of Keynes’s Economic Consequences in a Turbulent Century
Patricia Clavin, Giancarlo Corsetti, Maurice Obstfeld, and Adam Tooze
In Keynes's Economic Consequences of the Peace after 100 Years: Polemics and Policy, Cambridge University Press, 2023
Post-War Macroeconomic Framework for Ukraine
Beatrice Weder di Mauro, Kenneth Rogoff, Ilona Sologoub, Tymofiy Mylovanov, Maurice Obstfeld, Simon Johnson, Sergei Guriev, Yuriy Gorodnichenko, Barry Eichengreen, and Torbjörn Becker
Rapid Response Economics 3, CEPR Press, July 2023
Natural and Neutral Real Interest Rates: Past and Future
Maurice Obstfeld
Presented at the Asian Monetary Policy Forum, Singapore, May 26, 2023, and the IMF 24th Jacques Polak Annual Research Conference, November 9, 2023
Calvo, Currencies, and Commitment
Maurice Obstfeld
Presented at The Credibility of Government Policies: Conference in Honor of Guillermo Calvo, Columbia University, February 23-24, 2023
Personal Reflections on Robert Mundell
Maurice Obstfeld
Remarks at the 23rd IMF Jacques Polak Annual Research Conference, livestreamed to the memorial service for Robert A. Mundell at St. Paul’s chapel, Columbia University, November 11, 2022.
The Global Dollar Cycle
Maurice Obstfeld and Haonan Zhou
Presented at the Brookings Papers on Economic Activity conference, Brookings Institution, September 8-9, 2022
Macroeconomic Policies for Wartime Ukraine
Torbjörn Becker, Barry Eichengreen, Yuriy Gorodnichenko, Sergei Guriev, Simon Johnson, Tymofiy Mylovanov, Maurice Obstfeld, Kenneth Rogoff, and Beatrice Weder di Mauro
Rapid Response Economics 2, CEPR Press, August 2022
Global Economic Recovery in the Face of COVID-19
Maurice Obstfeld
In New Normal, New Technologies, New Financing, edited by Lili Yan Ing and Dani Rodrik, Economic Research Institute for ASEAN and East Asia (ERIA) and International Economic Association, June 2022
The International Financial System after COVID-19
Maurice Obstfeld
In Prospects of the Global Economy after Covid-19, edited by Thorsten Beck and Yung Chul Park, CEPR Press, February 2022
The Global Capital Market Reconsidered
Maurice Obstfeld
Symposium on “Capitalism: What Has Gone Wrong, What Needs to Change, and How Can It Be Fixed?” Oxford Review of Economic Policy, Winter 2021
Globalization and Nationalism: Retrospect and Prospect
Maurice Obstfeld
Contemporary Economic Policy, October 2021
Covered Interest Parity Deviations: Macrofinancial Determinants
Eugenio Cerutti, Maurice Obstfeld, and Haonan Zhou
International Seminar on Macroeconomics 2020; Journal of International Economics, May 2021
Revisiting Speculative Hyperinflations in Monetary Models
Maurice Obstfeld and Kenneth Rogoff
Review of Economic Dynamics, April 2021
Trilemmas and Tradeoffs: Living with Financial Globalization
Maurice Obstfeld
In The Asian Monetary Policy Forum: Insights for Central Banking, edited by Steven J. Davis, Edward S. Robinson, and Bernard Yeung, World Scientific, 2021; reprinted from Global Liquidity Spillovers to Emerging Markets and Policy Responses, edited by Claudio Raddatz, Diego Saravia, and Jaume Ventura, Central Bank of Chile, 2015
Two Challenges from Globalization
Maurice Obstfeld
Keynote Speech at the Federal Reserve Bank of San Francisco 2019 Asia Economic Policy Conference; Journal of International Money and Finance, April 2021
Harry Johnson’s “Case for Flexible Exchange Rates” – 50 Years Later
Maurice Obstfeld
The Harry G. Johnson Lecture at the London School of Economics, September 2019; The Manchester School, September 2020
Global Dimensions of U.S. Monetary Policy
Maurice Obstfeld
International Journal of Central Banking, February 2020 (a special issue collecting papers from the Federal Reserve System Conference on Monetary Policy Strategy, Tools, and Communication Practices, Federal Reserve Bank of Chicago, June 4-5, 2019)
Introduction
Luis Catão and Maurice Obstfeld
From Meeting Globalization’s Challenges: Policies to Make Trade Work for All, Princeton University Press, 2019
Revisiting the Economic Case for Fiscal Union in the Euro Area
Helge Berger, Giovanni Dell'Ariccia, and Maurice Obstfeld
IMF Economic Review, September 2019
A Tie that Binds: Revisiting the Trilemma in Emerging Market Economies
Maurice Obstfeld, Jonathan D. Ostry, and Mahvash S. Qureshi
Review of Economics and Statistics, May 2019
China’s Bond Market and Global Financial Markets
Eugenio Cerutti and Maurice Obstfeld
In The Future of China's Bond Market, edited by Alfred Schipke, Markus Rodlauer, and Longmei Zhang, International Monetary Fund, 2019
Addressing Climate Change: Does the IMF Have a Role?
Maurice Obstfeld
In Coping with the Climate Crisis: Mitigation Policies and Global Coordination, edited by Rabah Arezki, Patrick Bolton, Karim El Aynaoui, and Maurice Obstfeld, Columbia University Press, 2018
Global Financial Cycles and the Exchange Rate Regime: A Perspective from Emerging Markets
Maurice Obstfeld, Jonathan D. Ostry, and Mahvash S. Qureshi
American Economic Review: Papers and Proceedings, May 2018
In Search of the Armington Elasticity
Robert C. Feenstra, Philip Luck, Maurice Obstfeld, and Katheryn N. Russ
Review of Economics and Statistics, March 2018
Twenty-Five Years of Global Imbalances
Maurice Obstfeld
In Sustaining Economic Growth in Asia, edited by Jérémie Cohen-Setton, Thomas Helbling, Adam Posen, and Changyong Rhee, Peterson Institute for International Economics, 2018
International Monetary Relations: Taking Finance Seriously
Maurice Obstfeld and Alan M. Taylor
Journal of Economic Perspectives, Summer 2017
The Initial Economic Impact of Brexit: An Update to Early December 2016
Maurice Obstfeld
Brookings Papers on Economic Activity, Fall 2016
Macroeconomic Management When Policy Space Is Constrained: A Comprehensive, Consistent, and Coordinated Approach to Economic Policy
Vitor Gaspar, Maurice Obstfeld, and Ratna Sahay
IMF Staff Discussion Note SDN/16/09, September 2016
How to Improve Inflation Targeting in Canada
Maurice Obstfeld, Kevin Clinton, Ondra Kamenik, Douglas Laxton, Yulia Ustyugova, and Hou Wang
IMF Working Paper WP/16/192, September 2016
The Euro and the Geography of International Debt Flows
Galina Hale and Maurice Obstfeld
Journal of the European Economic Association, February 2016
The International Monetary System: Living with Asymmetry
Maurice Obstfeld
In Globalization in an Age of Crisis, edited by Robert C. Feenstra and Alan M. Taylor, University of Chicago Press, 2014.
Never Say Never: Commentary on a Policymaker’s Reflections
Maurice Obstfeld
IMF Economic Review, November 2014
On Keeping Your Powder Dry: Fiscal Foundations of Financial and Price Stability
Maurice Obstfeld
Monetary and Economic Studies (Bank of Japan), November 2013
Finance at Center Stage: Some Lessons of the Euro Crisis
Maurice Obstfeld
European Economy Economic Papers, European Commission Directorate-General for Economic and Financial Affairs, April 2013