Emerging Markets and Currencies

"What Three Economists Taught Us About Currency Regimes," Project Syndicate, April 21, 2021. 
"What Three Economists Taught Us About Currency Arrangements," VoxEU, May 2, 2021.

"The Currency-plus-Commodity Basket Peg: A Proposed Monetary Regime for Commodity-Exporting Countries," Ppt presentation, for LACEA, Guayaquil, Ecuador, Nov. 10, 2018.

Comment on “'The Role of U.S. Monetary Policy in Global Banking Crises' by Durdu, Martin & Zer," Ppt (incl.appdx), PDF; IMF Annual Research Conference, Nov. 2, 2018.

"Outlook: Holes in the Roof," Powerpoint (pdf), RCC at Harvard Executive Program, May 7, 2018.

"Comments on “Macroprudential FX Regulations: Shifting the Snowbanks of FX Vulnerability,” Ahnert, Forbes, Friedrich & Reinhardt," slides (pdf), NBER Conference on Capital Flows, Currency Wars & Monetary Policy, Emmanuel Farhi & Sebnem Kalemli-Ozcan, Organizers, Cambridge MA, April 5-6, 2018.

"Systematic Managed Floating,"  Powerpoint (pdf) presentation for 4th Asian Monetary Policy Forum, 2017, May 26, Shangri-La, Singapore.

Comment on "Are Capital Inflows Expansionary or Contractionary? Theory, Policy Implications and Some Evidence,” by Olivier Blanchard, Jonathan Ostry, Atish R. Ghosh & Marcos ChamonIFM, NBER Summer Institute, July 12, 2016. Ppt slides.

Vulnerability Among Emerging Markets," pdf, SSgA, Oct. 9, 2014.

"The Fed and EMs," conference hosted by Central Bank of Republic of Turkey, Istanbul, June 13-14, 2014.

"U.S. Tapering and Asian Exchange Rate Policy," Korean Economic Association, Seoul, May 26.   "US Monetary Policy & East Asia" interview, KRX magazine, August 2014

"The Fed and Emerging Markets: Another Crash?IDEAsPHERE session, HKS, May 15, 2014.

"All Quiet on the Currency Front,"  Project Syndicate, June 2013; e.g., Korea HeraldJune 17, 2013.  Condensed from: "Dispatches from the Currency Wars," June 11.

"Currency Wars," presented at panel on "Printing pressure: Global currency war," at American Enterprise Institute, March 18, 2013.  Video.

"The Global Economic Environment for Emerging Markets," Asobancaria, Medellin, Colombia, May 3, 2012.  Appendix slides.    Video (Spanish translation).

"Currency Wars," Macquarie Securities, Dec. 8, 2010.    

"G20: Leadership Need Not Come Only from the G7," Oct.28, 2010, East Asia Forum Quarterly.       

"What's Hot and What's Not in Global Money," State Street Gloval Institute, Oct.19, 2010.

"Unforeseen Global Economic Developments," slides, Windsor Conference, Sept. 20, 2010.

Emerging Market Countries in the Global Financial Crisis,” slides, Insights in Development Thinking, with COMFAMA, May 20, 2010. 

On Global Currencies,” Keynote speech for workshop on Exchange Rates: The Global Perspective,  sponsored by the Bank of Canada and the European Central Bank, Frankfurt, June 19, 2009.  Powerpoint.     RWP09-026, Sept.

"Have Financial Developments Made the International Monetary Fund Obsolete?" for The International Economy, March 1, 2007.

"Will rising US interest rates precipitate the next wave of emerging market crises?" The International Economy, Winter 2005.


"A Crude Peg for the Iraqi Dinar," Financial Times, June 13, 2003.


“Frankel challenges current consensus on need for pure fixed or floating exchange rate regimes”  Lecture at IMF Institute, August 7, 2000; as reported in IMF Survey, vol. 29, no.17, August 28, 2000.

"No Single Currency Regime is Right for All Countries," testimony before the House Committee on Banking and Financial Services, May 21, 1999.

"Dollarization in Latin America: Solution or Straitjacket?" remarks at the Council on Foreign Relations, Washington DC, April 6, 1999, and International Monetary Fund, June 24, 1999.