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Marcus Miller Publications


2007 | 2006 | 2005 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997


2007

Journal article

'Sovereign Debt Restructuring: Judge Griesa, the vultures and creditor rights' (with Dania Thomas). The World Economy, vol. 30(10), October 2007, pp.1491-1509

'UK external imbalances and the sterling: are they on a sustainable path?', (with Eleni Iliopulos). Forthcoming in Open Economies Review, vol. 18(5), November 2007

'Bulls, Bears and Excess Volatility: can currency intervension help?' (with Luisa Corrado and Lei Zhang), International Journal Of Finance And Economics, vol. 12, issue 2. March 2007, pp.261-272

’Irrational exuberance’ and capital flows for the US New Economy: a simple global model', (with Olli Castrén and Lei Zhang) International Journal Of Finance And Economics, vol. 12, issue 1, January 2007, pp.89-105

Working papers

'Punishment Without Crime? Prison as a Worker-Discipline Device', (with Jennifer C Smith), CEPR Discussion Paper no. 6621, 2007

"When credibility fails: anticipated devaluation and recession"
(with Lei Zhang), mimeo, University of Warwick


2006

Journal article

‘Debt Restructuring and Economic Recovery: Analysing the Argentine Swap’, (with Amrita Dhillon, Javier Garcia-Fronti and Sayantan Ghosal) The World Economy, vol. 29 (4), April 2006, pp.377-398

Working papers

Fear and Market Failure: Global Imbalances and 'Self-insurance' (with Lei Zhang) CEPR Discussion Paper no. 6000, 2006

Supply Shocks and Currency Crises: The Policy Dilemma Reconsidered,’ (with Lei Zhang and Javier Garcia-Fronti) CEPR Discussion Paper no. 5905, 2006

Sovereign Debt Restructuring: the Judge, the Vultures and Creditor Rights,’ ( with Dania Thomas) CEPR Discussion Paper no. 5710, 2006

'Crises in Global Financial Markets: career-concerned traders and insured elites?' (with Sayantan Ghosal), Preliminary Draft (May 2006)

Delay in Debt Swaps: Growth and Sustainability, (with Sayantan Ghosal), Preliminary Draft, University of Warwick (February 2006)


2005

Working papers

'Bargaining and Sustainability: The Argentine Debt Swap of 2005', (with Dhillon A., Ghosal, S., and Garcia Fronti, J.) CEPR Discussion Paper no. 5236, September 2005

'Case Study: Restructuring Argentine debt: A Renegotiation Game?' (with Javier Garcia-Fronti) CSGR Discussion Paper, February 2005

'World Finance and the US 'New Economy' Risk Sharing and Risk Exposure' (with Lei Zhang) CEPR Discussion Paper no.4855, January 2005

'Credit Crunch and Keynesian Contraction: Argentina in Crisis' (with Lei Zhang and Javier Garcia-Fronti) CEPR Discussions Papers, 4889, January 2005

'Capital Flows and the US 'New Economy' - Consumption Smoothing and Risk Exposure', (with Castren, O., and Zhang, L.), Working Paper Series 459, European Central Bank, 2005

 

Book Chapters

“Learning to Trust Lula: Contagion and Political Risk in Brazil” (with Kannika Thampanishvong and Lei Zhang). In F. Giavazzi, I. Goldfajn and S. Herrera (eds) Inflation Targeting, Debt, and the Brazilian Experience, 1999 to 2003 (April 2005) MIT Press


2003

Journal article

“Co-ordination Failure, Moral Hazard and Sovereign Bankruptcy Procedures” (with S. Ghosal). Economic Journal, vol. 113, April 2003, pp.276-304

“No Credit for Transition: European institutions and German unemployment” (with J. Driffill). Scottish Journal of Political Economy, vol. 50, no. 1, 2003, pp. 41-60

“Co-ordination Failure, Moral Hazard and Sovereign Bankruptcy Procedures” (with S. Ghosal). In Andrew G. Haldane (ed.) Fixing Financial Crises in the Twenty-first Century. London Routledge. pp. 281-312 with comments by David Vines pp 313 – 319. May 2003

Book chapters and papers in conference volumes

“Managing Financial Crisis in Emerging Markets: New Developments in Review”, (with S. Ghosal). In A G. A. Valladao and P da Motta Veiga (eds): Political issues in the EU-Mercosur Negotiations. Paris: Chaire Mercosur De Sciences Po, 2003, pp. 54-94. ISBN 2-9520559-3-9

“Sovereign Liquidity Crises: the Strategic Case for a Payments Standstill” (with L. Zhang, Reprinted, with Postscript added). In Vinod Aggarwal and Brigitte Granville (eds.): Sovereign Debt: Origins, Crises and Restructurings. London: Chatham House, 2003, pp. 152-198. ISBN 1-86203-145-2

Discussion of “Exchange rate regimes in theory and practice” by Andrew Crockett and “Is foreign exchange intervention effective?” by Takatoshi Ito. In Paul Mizen (ed.), Monetary History, Exchange Rates and Financial Markets: Essays in Honour of Charles Goodhart, Volume 2. Cheltenham: Edward Elgar, 2003.

 

 
Working papers

Co-ordination Failure, Moral Hazard and Sovereign Bankruptcy Procedures” (with Sayantan Ghosal) Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 112/03, March 2003

Learning to forget? Contagion and political risk in Brazil” (with Kannika Thampanishvong and Lei Zhang). CEPR Discussion Paper, No. 3785 (March 2003),also Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 113/03, February 2003

“Growth Expectations, Capital Flows and International Risk Sharing” (with Olli Castren and Roger Stiegert), November 2001, ECB working paper (June 2003)


2002

“Moral Hazard and the US Stock Market: Analysing the ‘Greenspan Put’” (with P. Weller and L. Zhang). Economic Journal, vol. 112, March 2002, pp.171-86.

'"The End of History" and the Stock Market Boom: a cautionary tale of capitalist triumphalism'. European Business Review, Vol. 14, No. 1, 2002.

“Sovereign Debt Restructuring: New Articles, New Contracts--or No Change?” International Economic Policy Brief, No. PB02-3 (April 2002), Institute for International Economics, Washington D.C. Reprinted with permission in V.K. Aggarwal and B. Granville, eds. Sovereign Debt: Origins, Crises and Restructuring. London: Royal Institute of International Affairs

“Exchange Rate Monitoring Bands: Theory and Evidence” (with Luisa Corrado and Lei Zhang) CEPR Discussion Paper No. 3337 (April 2002).

“Sovereign Default by Argentina: ‘Slow Motion Train Crash’ or Self-fulfilling Crisis?” (with Lei Zhang and Javier Fronti). CEPR Discussion Paper, No. 3399 (May 2002)


2001

“Sequencing of capital account liberalisation: A challenge to the Washington consensus” (with L. Zhang). In D. Dasgupta, M. Uzan, D. Wilson (eds) Capital Flows without Crisis? Reconciling Capital Mobility and Economic Stability, London: Routledge, May 2001. ISBN 0-415254795

Moral Hazard and the US Stock Market: The Idea of a 'Greenspan Put'” (with Paul Weller and Lei Zhang) CEPR Discussion Paper, No. 3041 ( November 2001), also Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 83/01, November 2001


2000

“Sovereign Liquidity Crises: The strategic case for a payments standstill” (with Lei Zhang). Economic Journal, 110, January, 2000, pp.335-362

"Asset bubbles, Leverage and 'Lifeboats': Elements of the East Asian Crisis" (with Hali J. Edison and Pongsak Luangaram). Economic Journal, Vol. 110, January 2000, pp. 309-334

“Sequencing of capital account liberalisation: A challenge to the Washington consensus” (with L. Zhang). Journal of the World Economy, 2000, 11, pp. 8-13 (in Chinese)

“Creditor panic, asset bubbles and sharks: three views of the Asian crisis” (with Lei Zhang). Chapter 10 in U. Dadush et al. (eds) Private Capital Flows in the Age of Globalization, pp. 222-240. Cheltenham, UK: E Elgar, 2000. ISBN: 1840642149

“Global Financial Crises: Mechanisms and Incentives” (with M. Kumar and P. Masson). IMF Working Paper No. 00/105, Research Department, IMF, 2000

 


1999

The Asian Financial Crisis: Causes, Contagion and Consequences, Agenor, M. Miller, D. Vines and A. Weber, (eds.) Cambridge University Press. 1999, pp. xxviii, 415. ISBN 0-521-77080-7

"Coping with Crises: Is there a Silver Bullet?" (with Amar Bhattacharya). Chapter 11 in P. Agenor et al. (eds.) The Asian Financial Crisis, Cambridge University Press, 1999, pp 357-385. ISBN 0-521-77080-7

Sovereign Liquidity Crisis: The Strategic Case for a Payments Standstill” (with Lei Zhang) Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 35/99, May 1999, also CEPR Discussion Paper, No. 1820 (March 1998)

Bankruptcy Protection Against Macroeconomic Shocks: The Case for a Super Chapter 11” (with Joseph Stiglitz), Mimeo, University of Warwick, 1999. (Available on CSGR website on Discussion Papers/The Global Financial Crisis: A CSGR Perspective)

  


 

1998

"Designing Monetary Policy when Unemployment Persists" (with Ben Lockwood and Lei Zhang), Economica, 1998, Vol.65, No.259, pp.327-345.

"Financial crisis in East Asia: Bank runs, asset bubbles and antidotes" (with Pongsak Luangaram), National Institute Economic Review, 1998, No. 165 (July), pp. 66-82

"Shareholders and Stakeholders:Human Capital and Industry Equilibrium" (with Roberto Ippolito and Lei Zhang), Economic Journal,108 (490-508) March, 1998

“The 'laissez-faire' bias of managed floating” (with Laura Papi), Journal of International Money and Finance, 16, 1998, pp. 989-1000

No Credit for Transition: The Maastricht Treaty and German Unemployment” (with John Driffill) CEPR Discussion Paper, No. 1929 (July 1998), also Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 04/98, March 1998

“Asset Bubbles, Domino Effects and 'Lifeboats': Elements of the East Asian Crisis” (with Hali J Edison and Pongsak Luangaram) CEPR Discussion Paper, No. 1866 (April 1998)

Financial Crisis in East Asia: Bank Runs, Asset Bubbles and Antidotes” (with Pongsak Luangaram) Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 11/98, July 1998

Asset Bubbles, Domino Effects and Lifeboats': Elements of the East Asian Crisis” (with Hali Edison and Pongsak Luangaram) Warwick University/ESRC Centre for the Study of Globalisation and Regionalisation Working Papers, no. 05/98, February 1998

 


1997

"Debt in industry equilibrium" (with Steven Fries and William Perraudin) Review of Financial Studies, 10, 39-67, January 1997

"Hyperinflation and stabilization: Cagan revisited" (with Lei Zhang) Economic Journal, 107 (441-454), March 1997

“Shareholders and Stakeholders: Human Capital and Industry Equilibrium” (with Roberto Ippolito, and Lei Zhang) CEPR Discussion Paper, No. 1719 (November 1997)

 
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