International monetary relations 

The role of exchange rates and other policy measures in current account adjustments, the choice of exchange rate regime, global imbalances

International Reserves: IMF Concerns and Country Perspectives, An evaluation report of the Independent Evaluation Office of the International Monetary Fund, Washington: December, 2012. (Lead author.) [LINK]

“Research on the Demand for International Reserves: Developments in Academia, the Contribution of IMF Researchers, and Influence on IMF Surveillance”. Background Paper (BP/12?01) for the IEO Evaluation ‘International Reserves: IMF Concerns and Country Perspectives’. (with Joshua Aizenman) [LINK]

“Currency internationalization: analytical and policy issues”. BIS Papers No. 61, Dec. 2011, pp. 221 – 30.

 “Currency Appreciation and Current Account Adjustment”. Journal of International Money and Finance, Vol. 26, Issue 4, June 2007, pp. 570-586. (with Michael Devereux). [LINK]

"Exchange-Rate Arrangements and Financial Integration in East Asia: On a Collision Course?” International Economics and Economic Policy, Volume 3, Numbers 3-4 / December, 2006, pp. 359-377. [LINK]

“Exchange-Rate Regimes: Does What Countries Say Matter?”, International Monetary Fund Staff Papers, September 2005 (with Alexander Swoboda)“

Official Reserves and Currency Management in Asia: Myth, Reality and the Future. Geneva Report on the World Economy 7, Geneva and London: ICMB and CEPR, 2005. (with Robert McCauley, Avinash Persaud, and Yung Chul Park)

The International Monetary System, Its Institutions and its Future. (Hans Genberg, ed.) Heidelberg: Springer-Verlag, 1995

Policy and Current-Account Determination under Floating Rates", International Monetary Fund Staff Papers, Vol. 36, No.1, March 1989, pp. 1-30. (With A. Swoboda)