Willem H. Buiter

Centre for Economic Policy Research (CEPR)

Fellow

London

United Kingdom

CESifo (Center for Economic Studies and Ifo Institute)

Poschinger Str. 5

Munich, DE-81679

Germany

http://www.CESifo.de

Columbia University

420 West 118th Street

New York, NY

United States

Independent Economic Adviser

Independent

SCHOLARLY PAPERS

128

DOWNLOADS
Rank 7,899

SSRN RANKINGS

Top 7,899

in Total Papers Downloads

7,534

SSRN CITATIONS
Rank 1,391

SSRN RANKINGS

Top 1,391

in Total Papers Citations

157

CROSSREF CITATIONS

741

Scholarly Papers (128)

1.

The Simple Analytics of Helicopter Money: Why it Works - Always

Economics, Vol. 8, August 2014, DOI: org/10.5018/economics-ejournal.ja.2014-28
Number of pages: 53 Posted: 23 Aug 2014 Last Revised: 08 Sep 2014
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 1,258 (20,668)
Citation 9

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helicopter money, liquidity trap, seigniorage, secular stagnation, central bank, quantitative easing

2.
Downloads 903 ( 33,383)
Citation 19

Can Central Banks Go Broke?

CEPR Policy Insight No. 24, May 2008
Number of pages: 12 Posted: 10 Sep 2014
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 886 (33,715)

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Seigniorage, central bank independence, monetary financing, base money

Can Central Banks Go Broke?

Number of pages: 34 Posted: 12 Jun 2008
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 17 (694,134)
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central bank insolvency, lender of last resort, market maker of last resort, recapitalising central banks

3.

The Unfortunate Uselessness of Most 'State of the Art' Academic Monetary Economics

VoxEU, Research-based policy analysis and commentary from leading economists, March 6, 2009
Number of pages: 5 Posted: 10 Sep 2014
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 661 (50,893)
Citation 11

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financial crises, insolvency, liquidity, incomplete markets, DSGE models, methodology, New Keynesian economics, New Classical economics

The Fallacy of the Fiscal Theory of the Price Level, Again

Bank Of England Working Paper No. 141
Number of pages: 36 Posted: 06 Sep 2001
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 161 (233,905)
Citation 2

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Fiscal theory of the price level, Ricardian financial-fiscal monetary programmes, government budget constraint, price level indeterminacy.

The Fallacy of the Fiscal Theory of the Price Level, Again

Number of pages: 53 Posted: 06 Feb 2001
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 100 (335,656)

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Fiscal theory of the price level, Ricardian fiscal rules, government budget constraint, price level indeterminacy

5.
Downloads 220 (176,982)
Citation 11

Seigniorage

Economics Discussion Paper No. 2007-8
Number of pages: 47 Posted: 06 Dec 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 84 (375,353)

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inflation tax, central bank budget constraint, coordination of monetary and fiscal policy

Seigniorage

Economics: The Open-Access, Open-Assessment E-Journal, Vol. 1, 2007-10
Number of pages: 49 Posted: 18 Dec 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 77 (395,345)

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inflation tax, central bank budget constraint, coordination of monetary and fiscal policy

Seigniorage

Number of pages: 48 Posted: 23 Feb 2007 Last Revised: 21 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 56 (468,316)
Citation 1

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Seigniorage

Number of pages: 50 Posted: 19 May 2008
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 3 (813,400)
Citation 1
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Central bank budget constraint, coordination of monetary and fiscal policy, inflation targeting, inflation tax

6.

Nature's Blessing or Nature's Curse: The Political Economy of Transition in Resource-Based Economies

Akram Esanov, Martin Raiser and Willem Buiter, in Richard M Auty and Indra de Soysa, eds. Energy, Wealth and Governance in the Caucasus and Central Asia; Lessons not learned, Routledge, London and New York, 2006, pp. 39-56.
Number of pages: 23 Posted: 17 May 2002 Last Revised: 24 Aug 2014
Akram Esanov, Martin Raiser and Willem H. Buiter
Kansas State University, European Bank for Reconstruction and Development and Centre for Economic Policy Research (CEPR)
Downloads 165 (228,802)

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7.

Lessons from the 2007 Financial Crisis

Number of pages: 38 Posted: 06 Jun 2008
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 157 (238,613)
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collateral, financial stability, leverage, liquidity, rating agencies, regulation, securitization

8.

Government Budget Deficits in Large Open Economies

Number of pages: 38 Posted: 06 Jun 2011
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 150 (247,740)

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fiscal policy, international policy coordination, optimal taxation

9.

James Tobin: An Appreciation of His Contribution to Economics

Number of pages: 82 Posted: 08 Jun 2003 Last Revised: 27 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 126 (283,749)

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10.

The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Why New Keynesian Central Bankers Should Validate Core Inflation

ECB Working Paper No. 609
Number of pages: 74 Posted: 19 May 2006
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 107 (318,610)

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Inflation targeting, Nominal price rigidities, New Keynesian macroeconomics, DSGE

11.
Downloads 103 (326,890)
Citation 22

Housing Wealth Isn&Apos;T Wealth

Number of pages: 23 Posted: 04 Aug 2008 Last Revised: 25 Apr 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 47 (506,790)

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Housing Wealth Isn't Wealth

Economics: The Open-Access, Open-Assessment E-Journal, Vol. 4, 2010-22
Number of pages: 31 Posted: 18 Dec 2010 Last Revised: 24 Aug 2014
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 37 (556,740)

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Wealth effect, house prices, speculative bubbles

Housing Wealth Isn't Wealth

Economics Discussion Paper No. 2009-56
Number of pages: 25 Posted: 18 Dec 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 13 (727,458)
Citation 6

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Wealth effect, house prices, speculative bubbles

Housing Wealth Isn't Wealth

Number of pages: 24 Posted: 02 Dec 2008
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 6 (787,616)
Citation 5
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house prices, speculative bubbles, wealth effect

12.
Downloads 89 (358,875)
Citation 5

Deflation: Prevention and Cure

Number of pages: 71 Posted: 24 Apr 2003 Last Revised: 18 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 71 (414,092)

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Deflation: Prevention and Cure

Number of pages: 73 Posted: 06 Jun 2003
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 18 (686,255)
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Deflation, zero bound, policy effectiveness

13.

Debt, Deficits and Inflation: an Application to the Public Finances of India

Number of pages: 50 Posted: 29 Jul 2001 Last Revised: 27 Jun 2021
Willem H. Buiter, Urjit R. Patel and Urjit R. Patel
Centre for Economic Policy Research (CEPR) and Brookings InstitutionInfrastructure Development Finance Company Ltd.
Downloads 88 (361,416)

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To Purgatory and Beyond: When and How Should the Accession Countries from Central and Eastern Europe Become Full Members of Emu?

Number of pages: 56 Posted: 29 Apr 2004
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 59 (456,550)
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EU accession, fiscal sustainability, convergence, ERMII

To Purgatory and Beyond: When and How Should the Accession Countries from Central and Eastern Europe Become Full Members of Emu?

Buiter, Willem H. (2005), "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, Springer, Vienna and New York, 2005, 145-186
Number of pages: 42 Posted: 29 Sep 2013
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 28 (611,220)

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EU accession, fiscal sustainability, convergence, ERMII

15.

Liquidity Traps: How to Avoid Them and How to Escape Them

Number of pages: 74 Posted: 06 Mar 2000 Last Revised: 20 Oct 2021
Willem H. Buiter and Nikolaos Panigirtzoglou
Centre for Economic Policy Research (CEPR) and Queen Mary, University of London
Downloads 80 (382,769)
Citation 1

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16.
Downloads 78 (388,343)
Citation 4

The Global Dimensions of Macroprudential Policy

Advisory Scientific Committee Reports No. 2020/10
Number of pages: 76 Posted: 30 Jul 2020
London Business School - Department of Economics, City University London - Sir John Cass Business School, Centre for Economic Policy Research (CEPR), University of Michigan at Ann Arbor - Gerald R. Ford School of Public Policy, Centre for European Policy Studies, Brussels, European Central Bank, European Systemic Risk Board, University of Maryland, European Central Bank (ECB) and European Systemic Risk Board
Downloads 42 (530,667)
Citation 1

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The Global Dimensions of Macroprudential Policy

ESRB: Advisory Scientific Committee Reports 2020/10
Number of pages: 76 Posted: 05 Nov 2020
London Business School - Department of Economics, City University London - Sir John Cass Business School, Centre for Economic Policy Research (CEPR), University of Michigan at Ann Arbor - Gerald R. Ford School of Public Policy, Centre for European Policy Studies, Brussels, European Central Bank, European Systemic Risk Board, University of Maryland, European Systemic Risk Board and European Systemic Risk Board
Downloads 36 (562,401)
Citation 1

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17.

Faces of Convergence

Number of pages: 171 Posted: 30 Aug 2019
European Commission, DGECFIN, International Monetary Fund (IMF), Corvinus University of Budapest, Polish Academy of Sciences, London School of Economics & Political Science (LSE) - Institute of Global Affairs, Sciences Po, European Bank for Reconstruction and Development (EBRD), European Bank for Reconstruction and Development (EBRD), Centre for Economic Policy Research (CEPR), Citibank, N.A., Warsaw School of Economics (SGH), Warsaw School of Economics (SGH), European Bank for Reconstruction and Development (EBRD), Vienna Institute of International Economic Studies (WIIW), LINET, Independent, University of Debrecen, Carleton University, Erste Bank Hungary Zrt., Central European University (CEU), Central European Labour Studies Institute, International Business School - Budapest (IBS), Vienna Institute of International Economic Studies (WIIW), Technische Universität München (TUM)Deggendorf Institute of Technology, World Bank, Academy of Financial Management, Ministry of Finance of Ukraine, University of Ljubljana - Faculty of Economics, Kozminski University, Babes-Bolyai University, Bank of Estonia, Independent, European Bank for Reconstruction and Development (EBRD), International Monetary Fund (IMF), European Fund for Strategic Investments (EFSI), Czech National Bank (CNB), Center for Advanced Economic Studies (CEVES), GKI Economic Research, DG-ECFIN, European Commission, Independent and Croatian National Bank
Downloads 72 (406,153)
Citation 1

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European Integration, EU, economic convergence in CESEE

Negative Nominal Interest Rates: Three Ways to Overcome the Zero Lower Bound

Number of pages: 57 Posted: 30 Jun 2009 Last Revised: 24 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 57 (464,424)

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Negative Nominal Interest Rates: Three Ways to Overcome the Zero Lower Bound

Number of pages: 59 Posted: 26 Aug 2009
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 10 (753,100)
Citation 7
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Eisler, Gesell, liquidity trap, Monetary policy, quantitative easing, zero interest rate policy

19.

Helicopter Money: Irredeemable Fiat Money and the Liquidity Trap

Number of pages: 69 Posted: 17 Dec 2003 Last Revised: 10 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 64 (432,282)

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20.

Comment on T. J. Sargent and N. Wallace: "Some Unpleasant Monetarist Arithmetic"

Number of pages: 31 Posted: 11 Feb 2001 Last Revised: 15 Nov 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 64 (432,282)

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The Role of Economic Policy after the New Classical Macroeconomics

Number of pages: 49 Posted: 25 May 2006 Last Revised: 04 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 31 (591,678)

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The Role of Economic Policy after the New Classical Macroeconomics

Number of pages: 49 Posted: 27 Jun 2007 Last Revised: 04 Aug 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 19 (678,363)

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The Role of Economic Policy after the New Classical Macroeconomics

Number of pages: 68 Posted: 09 Jul 2012
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 9 (761,797)

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22.

Government Solvency, Ponzi Finance and the Redundancy and Usefulness of Public Debt

Number of pages: 47 Posted: 28 May 2004 Last Revised: 21 Feb 2021
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz
Downloads 59 (449,966)

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23.

The New Economy and the Old Monetary Economies

Bank of England Quarterly Bulletin, May 2000
Number of pages: 11 Posted: 02 Aug 2005
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 58 (453,630)

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24.
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Citation 4

Fiscal Rules in India: Are They Effective?

Number of pages: 53 Posted: 26 Apr 2010 Last Revised: 17 Jul 2021
Willem H. Buiter, Urjit R. Patel and Urjit R. Patel
Centre for Economic Policy Research (CEPR) and Brookings InstitutionInfrastructure Development Finance Company Ltd.
Downloads 54 (476,220)

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Fiscal Rules in India: Are They Effective?

Number of pages: 55 Posted: 19 May 2010
Willem H. Buiter, Urjit R. Patel and Urjit R. Patel
Centre for Economic Policy Research (CEPR) and Brookings InstitutionInfrastructure Development Finance Company Ltd.
Downloads 3 (813,400)
Citation 2
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2003, crowding out, Fiscal Responsibility and Budget Management Act, fiscal sustainability, monetisation of public debt, sovereign default

25.

Generational Accounts, Aggregate Savings, and Intergenerational Distribution

Number of pages: 32 Posted: 15 Feb 2006
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 57 (457,455)

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26.

Aspects of Fiscal Performance in Some Transition Economies Under Fund-Supported Programs

Number of pages: 57 Posted: 15 Feb 2006
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 55 (464,910)

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The 'Sense and Nonsense of Maastricht' Revisited: What Have We Learnt about Stabilization in EMU?

Number of pages: 44 Posted: 22 Mar 2006
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 30 (597,954)
Citation 2
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Stability and Growth Pact, excessive deficit procedure, fiscal sustainability, macroeonomic stabilization

The 'Sense and Nonsense of Maastricht' Revisited: What Have We Learnt About Stabilization in Emu?

Journal of Common Market Studies, Vol. 44, No. 4, pp. 687-710, November 2006
Number of pages: 24 Posted: 08 Oct 2006
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 24 (639,786)
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28.

Real Exchange Rate Overshooting and the Output Cost of Bringing Down Inflation

Number of pages: 61 Posted: 28 Jun 2004 Last Revised: 21 Jul 2021
Willem H. Buiter and Marcus H. Miller
Centre for Economic Policy Research (CEPR) and University of Warwick - Department of Economics
Downloads 54 (472,652)
Citation 1

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29.

Monetary and Fiscal Policy with Flexible Exchange Rates

Number of pages: 48 Posted: 19 Jun 2004 Last Revised: 20 Jun 2021
William H. Branson and Willem H. Buiter
Princeton University - Princeton School of Public and International Affairs and Centre for Economic Policy Research (CEPR)
Downloads 54 (468,683)

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30.
Downloads 53 (472,652)
Citation 4

Deflationary Bubbles

Number of pages: 31 Posted: 01 Jun 2006 Last Revised: 01 Aug 2021
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 42 (530,667)

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Deflationary Bubbles

Number of pages: 32 Posted: 22 Sep 2004
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 11 (744,566)
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Deflationary bubbles, transversatility conditions

31.

Oil, Disinflation, and Export Competitiveness: A Model of the "Dutch Disease"

Number of pages: 42 Posted: 19 Jun 2004 Last Revised: 14 Feb 2021
Willem H. Buiter and Douglas D. Purvis
Centre for Economic Policy Research (CEPR) and Queens University (Deceased)
Downloads 52 (476,649)

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32.

The Proper Measurement of Government Budget Deficits: Comprehensive Wealth Accounting or Permanent Income Accounting for the Public Sector

Number of pages: 65 Posted: 16 Jul 2004 Last Revised: 10 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 49 (488,953)

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33.

Deficits, Crowding Out and Inflation: The Simple Analytics

Number of pages: 54 Posted: 11 Apr 2004
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 47 (497,648)

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34.

Why Economists (And Economies) Should Love Islamic Finance

Journal of King Abdulaziz University: Islamic Economics, Vol. 28, No. 1, 2015
Number of pages: 22 Posted: 06 Dec 2017
Willem H. Buiter and Ebrahim Rahbari
Centre for Economic Policy Research (CEPR) and Citigroup London
Downloads 46 (502,059)
Citation 1

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35.

Predetermined and Non-Predetermined Variables in Rational Expectations Models

Number of pages: 11 Posted: 10 Jul 2007 Last Revised: 25 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 46 (502,059)

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36.

Anchor, Float or Abandon Ship: Exchange Rate Regimes for Accession Countries

Number of pages: 65 Posted: 21 Feb 2002
Willem H. Buiter and Clemens Grafe
Centre for Economic Policy Research (CEPR) and University of London, Birkbeck College - Department of Economics
Downloads 46 (502,059)
Citation 3
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EMU, enlargement, euroisation, Balassa-Samuelson effect

37.

Is Numerairology the Future of Monetary Economics? Unbundling Numeraire and Medium of Exchange Through a Virtual Currency and a Shadow Exchange Rate

Number of pages: 43 Posted: 20 Jan 2007 Last Revised: 31 Jan 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 44 (510,920)

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38.

The Theory of Optimum Deficits and Debt

Number of pages: 49 Posted: 16 Jul 2004 Last Revised: 16 May 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 44 (510,920)

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39.

Monetary Policy and International Competitiveness

Number of pages: 79 Posted: 19 Jun 2004 Last Revised: 15 Aug 2021
Willem H. Buiter and Marcus H. Miller
Centre for Economic Policy Research (CEPR) and University of Warwick - Department of Economics
Downloads 43 (515,429)
Citation 1

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40.

The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Should New Keynesian Central Bankers Pursue Price Stability?

Number of pages: 61 Posted: 27 Oct 2004 Last Revised: 23 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 41 (524,832)
Citation 1

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41.
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Flexible inflation targeting, accountability, central bank intertemporal budget constraint

42.

Patching Up the Pact: Some Suggestions for Enhancing Fiscal Sustainability and Macroeconomic Stability in an Enlarged European Union

Number of pages: 76 Posted: 27 Sep 2002
Willem H. Buiter and Clemens Grafe
Centre for Economic Policy Research (CEPR) and University of London, Birkbeck College - Department of Economics
Downloads 39 (534,494)
Citation 1
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Stability and growth pact, EU accession, fiscal sustainability, golden rule, tax smoothing

43.

A Portfolio Approach to a Cross-Sectoral and Cross-National Investment Strategy in Transition Economies

Number of pages: 44 Posted: 08 Jul 2000 Last Revised: 30 Jul 2021
Willem H. Buiter, Ricardo Lago and Hélène Rey
Centre for Economic Policy Research (CEPR), European Bank for Reconstruction and Development (EBRD) - Office of the Chief Economist and London Business School
Downloads 39 (534,494)

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44.

Some Thoughts on the Role of Fiscal Policy in Stabilisation and Structural Adjustment in Developing Countries

Number of pages: 65 Posted: 04 Jul 2004 Last Revised: 14 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 38 (539,541)

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Cross-Border Tax Externalities: Are Budget Deficits Too Small?

Number of pages: 39 Posted: 19 Nov 2003 Last Revised: 18 Aug 2021
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 23 (647,311)

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Cross-Border Tax Externalities: Are Budget Deficits Too Small?

Number of pages: 40 Posted: 14 Jan 2004
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 14 (718,974)
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46.

Time Preference and International Lending and Borrowing in an Overlapping-Generations Model

Number of pages: 52 Posted: 10 Jan 2002 Last Revised: 20 Jun 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 35 (555,003)
Citation 6

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47.

The Fallacy of the Fiscal Theory of the Price Level

Number of pages: 71 Posted: 20 Mar 2000 Last Revised: 16 Jun 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 34 (560,358)

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48.

Costs and Benefits of an Anti-Inflationary Policy: Questions and Issues

Number of pages: 51 Posted: 07 Apr 2004 Last Revised: 05 Jun 2021
Willem H. Buiter and Marcus H. Miller
Centre for Economic Policy Research (CEPR) and University of Warwick - Department of Economics
Downloads 33 (565,842)

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The Young Person's Guide to Neutrality, Price Level Indeterminacy, Interest Rate Pegs, and Fiscal Theories of the Price Level

Number of pages: 48 Posted: 11 Jun 2000 Last Revised: 30 Jun 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 32 (585,588)

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The Young Person's Guide to Neutrality, Price Level Indeterminacy, Interest Rate Pegs and Fiscal Theories of the Price Level

CEPR Discussion Paper Series No. 1799
Posted: 02 Sep 1998
Willem H. Buiter
Centre for Economic Policy Research (CEPR)

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50.

The Welfare Economics of Cooperative and Noncooperative Fiscal Policy

Number of pages: 52 Posted: 08 Aug 2007 Last Revised: 08 Aug 2021
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz
Downloads 31 (576,901)
Citation 1

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51.

Fiscal Policy Interdependence and Efficiency

Number of pages: 50 Posted: 08 Jan 2007 Last Revised: 07 Aug 2021
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz
Downloads 31 (576,901)

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52.

On the Adequacy or Inadequacy of Keynesian Balance-of-Payments Theory: A Rejoinder

Number of pages: 18 Posted: 19 Jun 2004 Last Revised: 29 Oct 2021
Willem H. Buiter and Jonathan Eaton
Centre for Economic Policy Research (CEPR) and Leonard N. Stern School of Business - Department of Economics
Downloads 31 (576,901)

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53.

Macroeconomic Responses by Developing Countries to Changes in External Economic Conditions

Number of pages: 71 Posted: 09 Jun 2004 Last Revised: 11 Jul 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 31 (576,901)

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54.

Implications for the Adjustment Process of International Asset Risks: Exchange Controls, Intervention and Policy Risk, and Sovereign Risk

Number of pages: 49 Posted: 26 May 2004 Last Revised: 31 May 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 31 (576,901)

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55.

Two Naked Emperors? Concerns About the Stability and Growth Pact and Second Thoughts About Central Bank Independence

Number of pages: 47 Posted: 19 Sep 2003
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 31 (576,901)
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Fiscal rules, stability and growth pact, central bank independence, lender of last resort, deflation, zero bound, helicopter money drop

56.

Generational Accounts, Aggregate Saving and Intergenerational Distribution

Number of pages: 40 Posted: 01 Sep 2000 Last Revised: 27 Nov 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 31 (576,901)

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57.

A Center-Periphery Model of Monetary Coordination and Exchange Rate Crises

Number of pages: 43 Posted: 05 Jul 2000 Last Revised: 19 Jul 2021
Willem H. Buiter, Giancarlo Corsetti and Paolo A. Pesenti
Centre for Economic Policy Research (CEPR), University of Cambridge and Federal Reserve Bank of New York
Downloads 31 (576,901)

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58.

Granger-Causality and Policy Ineffectiveness: a Rejoinder

Number of pages: 13 Posted: 03 May 2004 Last Revised: 03 Sep 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 30 (582,664)
Citation 1

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59.

Saddlepoint Problems in Contifuous Time Rational Expectations Models: A General Method and Some Macroeconomic Ehamples

Number of pages: 33 Posted: 29 Jun 2004 Last Revised: 24 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 29 (588,652)
Citation 3

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60.

Rational Speculative Bubbles in an Exchange Rate Target Zone

Number of pages: 49 Posted: 28 Jun 2004 Last Revised: 24 Jun 2021
Willem H. Buiter and Paolo A. Pesenti
Centre for Economic Policy Research (CEPR) and Federal Reserve Bank of New York
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61.

A Small Corner of Intertemporal Public Finance - New Developments in Monetary Economics: 2 Ghosts, 2 Eccentricities, a Fallacy, a Mirage and a Mythos

Number of pages: 57 Posted: 09 Jun 2004 Last Revised: 07 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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62.

Fiscal Policy in Open, Interdependent Economies

Number of pages: 83 Posted: 03 May 2004 Last Revised: 30 May 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 29 (588,652)
Citation 1

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63.

The Role of Central Banks in Financial Stability: How Has it Changed?

Number of pages: 38 Posted: 20 Jan 2012
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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Accountability, Central banks, Financial stability, Non-inflationary loss absorption capacity

64.

The "Gold Standard Paradox" and its Resolution

Number of pages: 54 Posted: 14 Nov 2007 Last Revised: 09 Sep 2021
Willem H. Buiter and Vittorio Grilli
Centre for Economic Policy Research (CEPR) and Independent
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65.

Borrowing to Defend the Exchange Rate and the Timing and Magnitude of Speculative Attacks

Number of pages: 35 Posted: 04 Apr 2004 Last Revised: 18 Jul 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 28 (594,834)
Citation 1

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66.

Real Effects of Anticipated and Unanticipated Money: Some Problems of Estimation and Hypothesis Testing

Number of pages: 36 Posted: 28 Jun 2004 Last Revised: 25 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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67.

India's Public Finances: Excessive Budget Deficits, a Government-Abused Financial System and Fiscal Rules

Number of pages: 55 Posted: 30 May 2006
Willem H. Buiter, Urjit R. Patel and Urjit R. Patel
Centre for Economic Policy Research (CEPR) and Brookings InstitutionInfrastructure Development Finance Company Ltd.
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Indian public finance, fiscal sustainability, financial repression, financial intermediation

68.

Macroeconometric Modelling for Policy Evaluation and Design

Number of pages: 27 Posted: 09 Jun 2004 Last Revised: 17 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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69.

A "Gold Standard" Isn&Apos;T Viable Unless Supported by Sufficiently Flexiblemonetary and Fiscal Policy

Number of pages: 49 Posted: 19 Feb 2004 Last Revised: 15 Sep 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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70.

Death, Population Growth, Productivity Growth and Debt Neutrality

Number of pages: 30 Posted: 05 Jan 2007 Last Revised: 18 Jul 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 25 (614,158)
Citation 1

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71.

Debt Neutrality, Professor Vickrey and Henry George&Apos;S "Single Tax"

Number of pages: 11 Posted: 05 Jan 2007 Last Revised: 23 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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72.

Can Public Spending Cuts Be Inflationary?

Number of pages: 57 Posted: 04 Apr 2004 Last Revised: 29 Nov 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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73.

Notes on "a Code for Fiscal Stability"

Number of pages: 20 Posted: 20 Jul 2000 Last Revised: 29 Oct 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 25 (614,158)

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74.

Staggered Wage Setting Without Money Illusion: Variations on a Theme of Taylor

Number of pages: 34 Posted: 04 Jul 2004 Last Revised: 30 Jun 2021
Willem H. Buiter and Ian Jewitt
Centre for Economic Policy Research (CEPR) and University of Oxford - Department of Economics
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75.

International Balance of Payments Financing and Adjustment

Number of pages: 35 Posted: 28 May 2004 Last Revised: 26 Jul 2010
Willem H. Buiter and Jonathan Eaton
Centre for Economic Policy Research (CEPR) and Leonard N. Stern School of Business - Department of Economics
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76.

Transition Issues for the European Monetary Union

Number of pages: 29 Posted: 11 Jun 2000 Last Revised: 12 Sep 2021
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
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77.

Permanent International Productivity Growth Differentials in an Integrated Global Economy

Number of pages: 40 Posted: 10 Jul 2007 Last Revised: 29 Jul 2012
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz
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78.

Granger-Causality and Stabilization Policy

Number of pages: 34 Posted: 15 Jan 2007 Last Revised: 14 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 23 (627,895)

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79.

Efficient "Myopic" Asset Pricing in General Equilibrium: a Potential Pitfall in Excess Volatility Tests

Number of pages: 14 Posted: 06 Jan 2007 Last Revised: 28 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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80.

Issues in Controllability and the Theory of Economic Policy

Number of pages: 11 Posted: 08 Jun 2004 Last Revised: 05 Jul 2021
Willem H. Buiter and Mark Gersovitz
Centre for Economic Policy Research (CEPR) and Johns Hopkins University - Zanvyl Krieger School of Arts and Sciences
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81.

Policy Decentralization and Exchange Rate Management in Interdependent Economies

Number of pages: 37 Posted: 12 Feb 2001 Last Revised: 16 Jun 2021
Willem H. Buiter and Jonathan Eaton
Centre for Economic Policy Research (CEPR) and Leonard N. Stern School of Business - Department of Economics
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82.

Measuring Aspects of Fiscal and Financial Policy

Number of pages: 39 Posted: 06 Mar 2007 Last Revised: 23 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 22 (634,931)

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83.

How the Eurosystem's Treatment of Collateral in its Open Market Operations Weakens Fiscal Discipline in the Eurozone (and What to Do About it)

Number of pages: 42 Posted: 01 Mar 2006
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 22 (634,931)
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Sovereign default risk, collateralised loans, Eurosystem

84.

Structural and Stabilization Aspects of Fiscal and Financial Policy in the Dependent Economy

Number of pages: 73 Posted: 04 Jul 2004 Last Revised: 14 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 22 (634,931)

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85.

Macroeconomic Policy Design in an Interdependent World Economy: an Analysis of Three Contingencies

Number of pages: 57 Posted: 09 Jun 2004 Last Revised: 11 Apr 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 22 (634,931)

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86.

Macroeconomic Policy During a Transition to Monetary Union

Number of pages: 62 Posted: 08 Nov 2001
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 22 (634,931)
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European union, monetary union, optimal currency area

87.

A Fiscal Theory of Hyperdeflations? Some Surprising Monetarist Arithmetic

Number of pages: 14 Posted: 17 May 2001 Last Revised: 25 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 22 (634,931)

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88.

Capital Mobility, Fiscal Policy and Growth Under Self-Financing of Human Capital Formation

Number of pages: 44 Posted: 20 Jul 2000 Last Revised: 30 Jun 2021
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz
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89.

The Elusive Welfare Economics of Price Stability as a Monetary Policy Objective: Should New Keynesian Central Bankers Persue Price Stability

Number of pages: 67 Posted: 24 Jan 2005
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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Inflation targeting, nominal price rigidities, New Keynesian macroeconomics, monetary and fiscal stabilization policy, dsge

90.

Public Debt in the USA: How Much, How Bad and Who Pays?

Number of pages: 69 Posted: 28 Jun 2004 Last Revised: 04 Jun 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 21 (642,010)

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91.

Patching Up the Pact: Suggestions for Enhancing Fiscal Sustainability and Macroeconomic Stability in an Enlarged European Union

Number of pages: 36 Posted: 26 Apr 2004
Willem H. Buiter and Clemens Grafe
Centre for Economic Policy Research (CEPR) and University of London, Birkbeck College - Department of Economics
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92.

Optimal and Time-Consistent Polices in Continuous Time Rational Expectations Models

Number of pages: 14 Posted: 07 Nov 2007 Last Revised: 31 Jan 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 20 (649,065)

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93.

The Right Combination of Demand and Supply Policies: the Case for a Two-Handed Approach

Number of pages: 43 Posted: 19 Aug 2004 Last Revised: 18 Nov 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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94.

International Monetary Policy to Promote Economic Recovery

Number of pages: 37 Posted: 07 Jun 2004 Last Revised: 02 May 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 19 (656,257)

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95.

Fiscal Prerequisites for a Viable Managed Exchange Rate Regime: a Non-Technical Eclectic Introduction

Number of pages: 38 Posted: 03 May 2004 Last Revised: 01 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 19 (656,257)

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96.

A Note on the Solution of a Two-Point Boundary Value Problem Frequently Encountered in Rational Expectations Models

Number of pages: 37 Posted: 27 Dec 2006 Last Revised: 16 Jul 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 18 (663,469)

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97.

No Pain, No Gain? The Simple Analytics of Efficient Disinflation in Open Economies

Number of pages: 35 Posted: 20 Nov 2001
Willem H. Buiter and Clemens Grafe
Centre for Economic Policy Research (CEPR) and University of London, Birkbeck College - Department of Economics
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Sacrifice ratio, disinflation, new Keynesian Phillips curve

98.

Feedback and the Use of Current Information: The Use of General Linear Policy Rules in Rational Expectations Models

Number of pages: 25 Posted: 23 Apr 2004 Last Revised: 03 Jun 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 17 (670,646)

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99.

The Roles of Monetary, Financial and Fiscal Policy with Rational Expectations

Number of pages: 74 Posted: 28 Dec 2002 Last Revised: 19 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 17 (670,646)

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100.

The Liquidity Trap in an Open Economy

Number of pages: 34 Posted: 28 Aug 2001
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 17 (670,646)
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International capital mobility, Gesell, liquidity trap, taxing money

101.

Number of pages: 56 Posted: 07 Nov 2007 Last Revised: 15 Jun 2020
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz
Downloads 16 (678,025)

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102.

Policy Evaluation and Design for Continuous Time Linear Rational Expectations Models: Some Recent Development

Number of pages: 46 Posted: 27 Jun 2007 Last Revised: 07 Aug 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 15 (685,539)

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103.
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Central bank independence, fiscal theory of the price level, liquidity trap, monetary theory, unconventional monetary policies

104.

The Superiority of Contingent Rules Over Fixed Rules in Models with Rational Expectations

Number of pages: 50 Posted: 27 Jun 2007 Last Revised: 12 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 13 (701,062)
Citation 5

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105.

Why Do Governments Default, and Why Don't They Default More Often?

Number of pages: 46 Posted: 30 May 2013
Willem H. Buiter and Ebrahim Rahbari
Centre for Economic Policy Research (CEPR) and Citigroup London
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fiscal sustainability, intertemporal budget constraint, political economy., solvency, sovereign default, strategic default

106.

The ECB as Lender of Last Resort for Sovereigns in the Euro Area

Number of pages: 28 Posted: 25 May 2012
Willem H. Buiter and Ebrahim Rahbari
Centre for Economic Policy Research (CEPR) and London Business School, Department of Economics
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Central bank, EMU, Financial repression, Lender of Last Resort, Quasi-fiscal activities, Seigniorage

107.

Target2 Redux: The Simple Accountancy and Slightly More Complex Economics of Bundesbank Loss Exposure Through the Eurosystem

Number of pages: 76 Posted: 01 Feb 2013
Willem H. Buiter and Ebrahim Rahbari
Centre for Economic Policy Research (CEPR) and Citigroup London
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Bundesbank, capital flight, ECB, eurosystem, imbalances, TARGET2

108.

Centre for Labour Economics

Number of pages: 60 Posted: 20 Jul 2010 Last Revised: 19 Jul 2021
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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109.

Reversing Unconventional Monetary Policy: Technical and Political Considerations

Number of pages: 32 Posted: 11 Jan 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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Credit easing, Enhanced credit support, Quantitative easing, quasi-fiscal policy, regulatory capture

110.
Downloads 7 (748,463)

The Limits to Fiscal Stimulus

Number of pages: 42 Posted: 11 Jan 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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Crowding out, Debt sustainability, Fiscal Policy, Minsky neutrality, Ricardian equivalence

The Limits to Fiscal Stimulus

Oxford Review of Economic Policy, Vol. 26, Issue 1, pp. 48-70, 2010
Posted: 04 Jun 2010
Willem H. Buiter
Centre for Economic Policy Research (CEPR)

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fiscal policy, debt neutrality, Ricardian equivalence, Minsky neutrality, crowding out, debt sustainability, E4, E5, E6, F4, H3, H5, H6

111.

Economic, Political, and Institutional Prerequisites for Monetary Union among the Members of the Gulf Cooperation Council

Number of pages: 61 Posted: 05 Jun 2008
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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Convergence, currency union, exchange rate regime, GCC

112.

From Predation to Accumulation? The Second Transition Decade in Russia

Economics of Transition, Vol. 8, No. 3, November 2000
Number of pages: 34 Posted: 26 Oct 2002 Last Revised: 24 Aug 2014
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 6 (756,419)
Citation 1

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113.

Central Banks: Powerful, Political and Unaccountable?

Number of pages: 53 Posted: 17 Nov 2014
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 4 (771,785)
Citation 5
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accountability, independence,, legitimacy, monetary policy, quasi-fiscal, regulation, seigniorage,, supervision

114.

The Good and the Bad Fiscal Theory of the Price Level

Number of pages: 35 Posted: 25 Apr 2017
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
Downloads 3 (779,756)
Citation 2
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Fiscal theory of the price level; intertemporal budget constraint; equilibrium bond pricing equation; monetary and fiscal policy coordination

115.

Exchange Rate Implications of Border Tax Adjustment Neutrality

Number of pages: 39 Posted: 16 Mar 2017
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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Border tax adjustment, equivalence, exchange rate appreciation, neutrality, nominal price and wage rigidities

116.

Corporate Profit Taxes, Capital Expenditure and Real Wages: The Analytics Behind a Contentious Debate

Number of pages: 28 Posted: 15 May 2018
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London
Downloads 2 (789,143)
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corporate profit tax; expensing; capital expenditure, OLG model., Public Finance, taxation

117.

The Fallacy of the Fiscal Theory of the Price Level - Once More

Number of pages: 71 Posted: 04 Apr 2017
Willem H. Buiter
Centre for Economic Policy Research (CEPR)
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equilibrium bond pricing equation, fiscal dominance., Fiscal theory of the price level, intertemporal budget constraint, monetary and fiscal policy coordination

118.
Downloads 1 (800,684)
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Cashless economy, optimal inflation, price level determinacy, zero lower bound

119.

Optimal Currency Areas Scottish Economic Society/Royal Bank of Scotland Annual Lecture, 1999

Posted: 14 Dec 2000
Willem H. Buiter
Centre for Economic Policy Research (CEPR)

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120.

Optimal Currency Areas: Why Does the Exchange Rate Regime Matter?

Posted: 21 Apr 2000
Willem H. Buiter
Centre for Economic Policy Research (CEPR)

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121.

Promoting an Effective Market Economy in a Changing World

Posted: 13 Sep 1999
Willem H. Buiter, Ricardo Lago and Nicholas Stern
Centre for Economic Policy Research (CEPR), European Bank for Reconstruction and Development (EBRD) - Office of the Chief Economist and Stern Review on the Economics of Climate Change

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122.

Udrop: A Small Contribution to the New International Financial Architecture

CEPR Working Paper No. 2138
Posted: 06 Sep 1999
Willem H. Buiter and Anne Sibert
Centre for Economic Policy Research (CEPR) and Birkbeck, University of London

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123.

Notes on 'a Code for Fiscal Stability'

CEPR Discussion Paper Series Number 1831
Posted: 21 Jul 1998
Willem H. Buiter
Centre for Economic Policy Research (CEPR)

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124.

Debt and Taxes: Ponzi Finance, Dynamic Efficiency and Government Solvency

UCSC Dept. of Economics WP 381
Posted: 13 Jan 1998
Willem H. Buiter and Kenneth M. Kletzer
Centre for Economic Policy Research (CEPR) and University of California at Santa Cruz

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125.

A Portfolio Approach to a Cross-Sectoral and Cross-National Investment Strategy in Transition Economies

CEPR Discussion Paper No. 1548
Posted: 17 Oct 1997
Willem H. Buiter, Ricardo Lago and Hélène Rey
Centre for Economic Policy Research (CEPR), European Bank for Reconstruction and Development (EBRD) - Office of the Chief Economist and London Business School

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126.

Enterprises in Transition: Macroeconomic Influences on Enterprise Decision-Making and Performance

CEPR Discussion Paper No. 1601
Posted: 05 Sep 1997
Willem H. Buiter, Ricardo Lago and Hélène Rey
Centre for Economic Policy Research (CEPR), European Bank for Reconstruction and Development (EBRD) - Office of the Chief Economist and London Business School

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127.

Interpreting the Erm Crisis: Country-Specific and Systemic Issues

CEPR Discussion Paper Series No. 1466
Posted: 13 Mar 1997
Willem H. Buiter, Giancarlo Corsetti and Paolo A. Pesenti
Centre for Economic Policy Research (CEPR), University of Cambridge and Federal Reserve Bank of New York

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128.

The Economic Case for Monetary Union in the European Union

REVIEW OF INTERNATIONAL ECONOMICS
Posted: 10 Mar 1997
Willem H. Buiter
Centre for Economic Policy Research (CEPR)

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