Timothy J. Kehoe
Publications
BOOKS
Frontiers
in Applied General Equilibrium Modeling: Essays in Honor of Herbert Scarf, Cambridge University Press, 2005, edited with T.N.
Srinivasan and John Whalley.
"Great Depressions of the Twentieth
Century," edited volume of Review of Economic Dynamics, 5 (2002),
with Edward C. Prescott. [Revised and expanded version reprinted as Great Depressions of the Twentieth
Century, Federal Reserve Bank of
"Applied General Equilibrium," edited volume of Economic Theory, 6 (1995), with Edward C. Prescott.
Modeling
North American Economic Integration, Kluwer Academic Publishers, 1995, edited with Patrick J. Kehoe.
JOURNAL ARTICLES:
"Catch-up Growth
Followed by Stagnation: Mexico,
1950–2010," Latin American
Journal of Economics, 48 (2011), 227–68, with Felipe Meza. (Description
of the data and MS
Excel file with all of the data.)
"Why Have
Economic Reforms in Mexico Not Generated Growth?" Journal of Economic Literature, 48 (2010), 1005–27, with Kim
J. Ruhl. [Translated as “¿Por Qué las
Reformas Económicas de México No Han Generado Crecimiento?” El
Trimestre Económico, 79 (2011),
491–523.] (Description
of the data and MS
Excel file with all of the data.)
"Trade,
Growth, and Convergence in a Dynamic Heckscher-Ohlin Model," Review of
Economic Dynamics, 13 (2010), 487–513, with Claustre Bajona.
"Sudden
Stops, Sectoral Reallocations, and the Real Exchange Rate," Journal
of Development Economics, 89 (2009),
235–49, with Kim J.
Ruhl. (Description
of the data and MS
Excel file with all of the data.)
"Are
Shocks to the Terms of Trade Shocks to Productivity?" Review of Economic Dynamics, 11 (2008),
804–19, with Kim J. Ruhl. (Description
of the data and MS
Excel file with all of the data.)
"Modeling Great
Depressions: The Depression in Finland in the 1990s," Federal
Reserve Bank of Minneapolis Quarterly Review, 31:1 (2007), 16–44, with Juan
Carlos Conesa and Kim J. Ruhl. [Revised version published in Timothy J.
Kehoe and Edward C. Prescott, editors, Great Depressions of the Twentieth
Century, Federal Reserve Bank of Minneapolis, 2007, 427–75.] (Description of
the data and MS Excel file
with all of the data.)
"U.S. Real Exchange Rate Fluctuations and Relative Price Fluctuations," Journal of Monetary Economics, 53 (2006), 1297–326, with Caroline M. Betts. (Description of the data, MS Excel file with all of the orginal data, and MS Excel files with all of the final data.)
"Why is
Manufacturing Trade Rising Even as Manufacturing Output is Falling?" American
Economic Review, Papers and Proceedings, 94 (2004), 134–8, with Raphael
Bergoeing, Vanessa Strauss-Kahn, and Kei-Mu Yi.
"Recent Great Depressions: Aggregate Growth in New Zealand and Switzerland 1973–2000," New Zealand Economic Papers, 37 (2003), 5–40, with Kim J. Ruhl. [Revised version published as "Recent Great Depressions: Aggregate Growth in New Zealand and Switzerland" in Timothy J. Kehoe and Edward C. Prescott, editors, Great Depressions of the Twentieth Century, Federal Reserve Bank of Minneapolis, 2007, 335–71.] (Description of the data and MS Excel file with all of the data.)
"What Can We
Learn from the Current Crisis in Argentina?" Scottish Journal of
Political Economy, 50 (2003), 609–33. [Revised version published as "What Can We
Learn from the 1998–2002 Depression in Argentina?" in Timothy J. Kehoe
and Edward C. Prescott, editors, Great
Depressions of the Twentieth Century, Federal Reserve Bank of
"A Decade Lost and Found: Mexico and Chile in the 1980s," Review of Economic Dynamics, 5 (2002), 166–205, with Raphael Bergoeing, Patrick J. Kehoe, and Raimundo Soto. [Revised version published as "Decades Lost and Found: Mexico and Chile Since 1980," Federal Reserve Bank of Minneapolis Quarterly Review, 26:1 (2002), 3–30; revised version published as "A Decade Lost and Found: Mexico and Chile in the 1980s," in Timothy J. Kehoe and Edward C. Prescott, editors, Great Depressions of the Twentieth Century, Federal Reserve Bank of Minneapolis, 2007, 217–56.] (Description of the data and MS Excel file with all of the data.)
"Great Depressions of the Twentieth Century," Review of Economic Dynamics, 5 (2002), 1–18, with Edward C. Prescott. [Revised version published in Timothy J. Kehoe and Edward C. Prescott, editors, Great Depressions of the Twentieth Century, Federal Reserve Bank of Minneapolis, 2007, 1–20; translated as "Las Grandes Depresiones del Siglo XX," Gaceta de Economía, 24 (2008), 5–29.] (Description of the data and MS Excel file with all of the data.)
"Lotteries, Sunspots, and Incentive Constraints," Journal of Economic Theory, 107 (2002), 39–69, with David K. Levine and Edward C. Prescott.
"Policy-Driven Productivity in Chile and Mexico in the 1980s and 1990s," American Economic Review, Papers and Proceedings, 92 (2002), 16–21, with Raphael Bergoeing, Patrick J. Kehoe, and Raimundo Soto.
"Liquidity Constrained Markets versus Debt Constrained Markets," Econometrica, 69 (2001), 575–98, with David K. Levine.
"Capital Flows and Real Exchange Rate Fluctuations Following Spain's Entry into the European Community," Journal of International Economics, 51 (2000), 49–78, with Gonzalo Fernández de Córdoba.
"Self-Fulfilling Debt Crises," Review of Economic Studies, 67 (2000), 91–116, with Harold L. Cole.
"A Self-Fulfilling Model of Mexico's 1994–95 Debt Crisis," Journal of International Economics, 41 (1996), 309–30, with Harold L. Cole.
"The Discipline of Applied General Equilibrium," Economic Theory, 6 (1995), 1–11, with Edward C. Prescott.
"An Evaluation of the Performance of an Applied General Equilibrium Model of the Spanish Economy," Economic Theory, 6 (1995), 115–41, with Clemente Polo and Ferran Sancho.
"A Review of Mexico's Trade Policy from 1982 to 1994," The World Economy, 18 (1995), 135–51. [Reprinted in Sven W. Arndt and Chris Milner, editors, The World Economy: Global Trade Policy 1995, Basil Blackwell, 1995, 135–51.]
"Capturing
NAFTA's Impact with Applied General Equilibrium Models," Federal
Reserve Bank of
"Distinguished Fellow: Herbert Scarf's Contributions to Economics," Journal of Economic Perspectives, 8 (1994), 161–81, with Kenneth J. Arrow.
"A Primer on
Static Applied General Equilibrium Models," Federal Reserve Bank of
"Debt Constrained Asset Markets," Review of Economic Studies, 60 (1993), 865–88, with David K. Levine.
"More on Money as a Medium of Exchange," Economic Theory, 3 (1993), 297–314, with Nobuhiro Kiyotaki and Randall D. Wright.
"North American Free Trade," Journal of Economic Integration, 8 (1993), 119–51.
"In Search of Scale Effects in Trade and Growth," Journal of Economic Theory, 58 (1992), 377–409, with David K. Backus and Patrick J. Kehoe.
"Gross Substitutability and the Weak Axiom of Revealed Preference," Journal of Mathematical Economics, 21 (1992), 37–50.
"On Characterizing Equilibria of Economies with Externalities and Taxes as Solutions to Optimization Problems," Economic Theory, 2 (1992), 43–68, with David K. Levine and Paul M. Romer.
"A General Equilibrium Appraisal of Energy Policy in Mexico," Empirical Economics, 16 (1991), 71–93, with Jaime Serra-Puche. [Reprinted in John Piggott and John Whalley, editors, Applied General Equilibrium, Physica Verlag, 1991, 71–93.]
"Gross Substitutability in Large-Square Economies," Journal of Economic Theory, 54 (1991), 1–25, with David K. Levine, Andreu Mas-Colell, and Michael Woodford.
"Determinacy of Equilibria in Dynamic Models with Finitely Many Consumers," Journal of Economic Theory, 50 (1990), 1–21, with David K. Levine and Paul M. Romer.
"The Economics of Indeterminacy in Overlapping Generations Models," Journal of Public Economics, 42 (1990), 219–43, with David K. Levine.
"Determinacy of Equilibria in Large-Square Economies," Journal of Mathematical Economics, 18 (1989), 231–62, with David K. Levine, Andreu Mas-Colell, and William R. Zame.
"A General Equilibrium Analysis of the 1986 Tax Reform in Spain," European Economic Review, Papers and Proceedings, 32 (1988), 334–42, with Antonio Manresa, Pedro Javier Noyola, Clemente Polo, and Ferran Sancho.
"A General Equilibrium Analysis of Price Controls and Subsidies on Food in Mexico," Journal of Development Economics, 21 (1986), 65–87, with Jaime Serra-Puche.
"Comparative
Statics and Perfect Foresight in Infinite Horizon Economies,"
Econometrica, 53 (1985), 433–53, with David K. Levine. [Translated
as "Estática
Comparativa y Previsión Perfecta en Economías con Horizonte Infinito,"
in Michele Boldrin, editor, "Economías Dinámicas I," Cuadernos
Económicos de I.C.E., 46 (1990), 203–25.]
"The Comparative Statics Properties of Tax Models," Canadian Journal of Economics, 18 (1985), 314–34.
"Multiplicity of Equilibria and Comparative Statics," Quarterly Journal of Economics, 100 (1985), 119–47. [Reprinted in Donald A. Walker, editor, Equilibrium, Edward Elgar Publishing, volume II: Equilibrium in Traditional Models, 2000, 137–65.]
"Uniqueness of Equilibrium in Large Scale Numerical General Equilibrium Models," Journal of Public Economics, 28 (1985), 247–54, with John Whalley.
"Computing All of the Equilibria of Economies with Two Factors of Production," Journal of Mathematical Economics, 13 (1984), 207–23.
"A General Equilibrium Model of Domestic Commerce in Mexico," Journal of Policy Modeling, 6 (1984), 1–28, with Jaime Serra-Puche and Leopoldo Solís.
"Intertemporal Separability in Overlapping Generations Models," Journal of Economic Theory, 34 (1984), 216–26, with David K. Levine.
"Regularity in Overlapping Generations Exchange Economies," Journal of Mathematical Economics, 13 (1984), 69–93, with David K. Levine.
"Regularity and Index Theory for Economies with Smooth Production Technologies," Econometrica, 51 (1983), 895–917.
"A Computational General Equilibrium Model with Endogenous Unemployment: An Analysis of the 1980 Fiscal Reform in Mexico," Journal of Public Economics, 22 (1983), 1–26, with Jaime Serra-Puche.
"The Employment Effects of Government Taxes and Expenditures in Mexico," Southwestern Review of Management and Economics, 2 (1982), 85–100, with Jaime Serra-Puche.
"Regular Production Economies," Journal of Mathematical Economics, 10 (1982), 147–76.
"An Index
Theorem for General Equilibrium Models with Production," Econometrica, 48
(1980), 1211–32. [Reprinted in Gerard Debreu, editor, General
Equilibrium Theory, volume II, Edward Elgar Publishing, 1995, 316–37.]
ARTICLES IN BOOKS, NOTES,
"Does Openness Generate
Growth? Reconciling the Experiences of
Mexico and China," VoxEU, 19
November 2011, with Kim J. Ruhl. (Original
paper, description
of the data, and MS
Excel file with all of the data.)
"The Current Financial Crisis: What Should We Learn from the Great
Depressions of the Twentieth Century?" (Annual Report Essay), The Region, 23 (2009), 7–39, with
Gonzalo Fernández de Córdoba. [Revised
version published in Economic Insights, 3 (2010), 1-3.]
"Bankruptcy
and Collateral in Debt Constrained Markets," in Roger E. A. Farmer,
editor, Macroeconomics in the Small and the
Large: Essays on Microfoundations, Macroeconomic Applications, and Economic
History in Honor of Axel Leijonhufvud,
Edward Elgar, 2008, 99–114 , with David K. Levine.
"An
Evaluation of the Performance of Applied General Equilibrium Models of the
Impact of NAFTA," in Timothy J. Kehoe, T.N. Srinivasan, and John
Whalley, editors, Frontiers in Applied General Equilibrium Modeling: Essays
in Honor of Herbert Scarf, Cambridge University Press, 2005, 341–77.
"Introduction,"
in Timothy J. Kehoe, T. N. Srinivasan, and John Whalley, editors, Frontiers in Applied General Equilibrium
Modeling: Essays in Honor of Herbert Scarf, Cambridge University Press,
2005, 1–12, with T. N. Srinivasan, and John Whalley.
"Is Switzerland
in a Great Depression?" Review
of Economic Dynamics, 8 (2005), 759–75, with Kim J. Ruhl.
"The North American Free Trade Agreement after Ten Years: Its Impact on Minnesota and a Comparison with Wisconsin," CURA Reporter, 34:4 (2004), 1–10, with Kim J. Ruhl. (Description of the data, MS Excel file with all of the data, and MS Excel file with the least traded goods data and methodology.)
Review of Financial
Crises, Liquidity, and the International Monetary System by Jean Tirole,
Journal of Economics/Zeitschrift für Nationalökonomie, 81 (2004),
297–302, with Anna Ivanova.
Comment on
"Liberalization, Growth and Financial Crises: Lessons from Mexico and the
Developing World" by A. Tornell, F. Westermann, and L. Martínez in
William C. Brainard and George L. Perry, editors, Brookings Papers on
Economic Activity, 2003, number 2, 89–99.
Comment on "Dollarization and the Integration of International Capital Markets: A Contribution to the Theory of Optimal Currency Areas" by Valerie Bencivenga, Elisabeth Huybens, and Bruce D. Smith, Journal of Money, Credit, and Banking, 33 (2001) 590–96.
Review of Numerical Methods in Economics by Kenneth L. Judd, Journal of Economic Literature, 39 (2001), 907–08.
Comment on "The International Financial Crisis: Macroeconomic Linkages to Agriculture" by Matthew D. Shane and William M. Liefert, American Journal of Agricultural Economics, 82 (2000), 703–06.
Comment on "Multinational Production, Skilled Labor, and Real Wages" by James R. Markusen and Anthony J. Venables, in Richard E. Baldwin and Joseph Francois, editors, Dynamic Issues in Applied Commercial Policy Analysis, Cambridge University Press, 1999, 173–76.
"Uniqueness and Stability," in Alan P. Kirman, editor, Elements of General Equilibrium Analysis, Basil Blackwell, 1998, 38–87.
"Can Debt Crises Be Prevented?" in Richard Levich, editor, Emerging Market Capital Flows, Kluwer Academic Publishers, 1998, 3–22.
"Social Accounting Matrices and Applied General Equilibrium Models," in Iain Begg and S.G.B. Henry, editors, Applied Economics and Public Policy, Cambridge University Press, 1998, 59–87.
Comment on "Are Currency Crises Self-Fulfilling?" by Paul Krugman, in Ben S. Bernanke and Julio J. Rotemberg, editors, NBER Macroeconomics Annual 1996, MIT Press, 1996, 378–92.
"What Happened in Mexico in 1994–95?" in Patrick J. Kehoe and Timothy J. Kehoe, editors, Modeling North American Economic Integration, Kluwer Academic Publishers, 1995, 131–47.
"Assessing the Economic Impact of North American Free Trade," in M. Delal Baer and Sidney Weintraub, editors, The NAFTA Debate: Grappling with Unconventional Trade Issues, Lynne Rienner Publishers, 1994, 3–33.
"Towards a
Dynamic General Equilibrium Model of North American Trade," in Joseph
Francois and Clinton R. Shiells, editors, Modeling Trade Policy: Applied
General Equilibrium Assessments of North American Free Trade, Cambridge
University Press, 1994, 328–47. [Revised version
translated as "Las
Ganancias Dinámicas del Comercio en América del Norte," in
Timothy J. Kehoe, editor, "Integración Económica en Europa y las
Américas," Cuadernos Económicos de I.C.E., 59 (1995), 105–24.]
Comment on
"The Impact of a North American Free Trade Area: Applied General
Equilibrium Models" by Drusilla K. Brown, in Barry Bosworth, Robert Z.
Lawrence, and Nora Lustig, editors, North American Free Trade: Assessing the
Impact, Brookings Institution, 1992, 58–63. [Translated as "Comentario
a Drusilla K. Brown," Economía
Mexicana (Nueva Epoca), 2 (1993), 90–97.]
Comment on
"Steady-State Growth and Transition in a Dynamic Dual Model of the North
American Free Trade Agreement" by Leslie Young and José Romero, in Economy-Wide
Modeling of the Economic Implications of an FTA with Mexico and a NAFTA with
Canada and the United States, United States International Trade Commission
Publication 2508, 1992, 701–11.
"Modeling the Dynamic Impact of a NAFTA," in William G. Watson, editor, A North American Free Trade Area, John Deutsch Institute, 1992, 24–34.
"Modeling the
Dynamic Impact of North American Free Trade," in Economy-Wide
Modeling of the Economic Implications of an FTA with Mexico and a NAFTA with
Canada and the United States, United States International Trade Commission
Publication 2508, 1992, 249–76.
"The Optimum Quantity of Money Revisited," in Partha Dasgupta, Douglas Gale, Oliver Hart, and Eric Maskin, editors, The Economic Analysis of Markets and Games: Essays in Honor of Frank Hahn, MIT Press, 1992, 501–26, with David K. Levine and Michael Woodford.
Review of Economic Complexity: Chaos, Sunspots, Bubbles, and Nonlinearity edited by William A. Barnett, John Geweke, and Karl Shell, Southern Economic Journal, 58 (1992), 1136–37.
"Computation and Multiplicity of Equilibria," in Werner Hildenbrand and Hugo Sonnenschein, editors, Handbook of Mathematical Economics, volume IV, North-Holland, 1991, 2049–143.
"Indeterminacy in Applied Intertemporal Equilibrium Models," in Lars Bergman, Dale W. Jorgenson, and Erno Zalai, editors, General Equilibrium Modeling and Economic Policy Analysis. Basil Blackwell, 1990, 111–48, with David K. Levine.
"Intertemporal
General Equilibrium Models," in Frank H. Hahn, editor, The
Economics of Missing Markets, Information, and Games, Oxford University Press, 1989, 363–93. [Translated as "Modelos Dinámicos de Equilibrio
General," Cuadernos Económicos de I.C.E., 37 (1987), 95–126.]
Review of Microeconomic Theory by Yoshihiko Otani and Mohamed El-Hodiri, SIAM Review, 31 (1989), 701–03.
"Comparative Statics," in John Eatwell, Murray Milgate, and Peter Newman, editors, The New Palgrave: A Dictionary of Economic Theory and Doctrine. Macmillan Press, 1988, Volume 1, 517–21. [Reprinted in John Eatwell, Murray Milgate, and Peter Newman, editors, The New Palgrave General Equilibrium. Macmillan Press, 1989, 76–83.]
"Computation and Multiplicity of Economic Equilibria," in Philip W. Anderson, Kenneth J. Arrow, and David Pines, editors, The Economy as an Evolving Complex System. Addison-Wesley, 1988, 147–67.
"Steady States and Determinacy of Equilibria in Economies with Infinitely Lived Agents," in George R. Feiwel, editor, Joan Robinson and Modern Economic Theory. Macmillan Press, 1988, 521–44, with David K. Levine and Paul M. Romer.
Review of Fixed Point Theorems with Applications to Economics and Game Theory by Kim C. Border, Journal of Economic Literature, 25 (1987), 1870–72.
Review of Introduction to the Use of General Equilibrium Analysis by Richard R. Cornwall, Economica, 54 (1987), 266–67.
Review of New Developments in Applied General Equilibrium Analysis edited by John Piggott and John Whalley, Economic Journal, 97 (1987), 506–08.
"A Numerical Investigation of Multiplicity of Equilibrium," in Alan S. Manne, editor, "Economic Equilibrium: Model Formulation and Solution," Mathematical Programming Study, 23 (1985), 240–58.
"An Observation on
Gross Substitutability and the Weak Axiom of Revealed Preference," Economics
Letters, 15 (1984), 241–43, with Andreu Mas-Colell.
PUBLICATIONS IN SPANISH
"La
Crisis Financiera Actual: ¿Qué Debemos
Aprender de las Grandes Depresiones del Siglo XX?" in Antonio Cabrales
Juan José Dolado, Florentino Felgueroso, and Pablo Vázquez, coordinators, La Crisis de la Economía Española:
Lecciones y Propuestas, Sociedad Abierta and Fundación de Estudios de
Economía Aplicada, 2009, with Gonzalo Fernández de Córdoba (http://www.crisis09.es/ebook/).
"Integración
Económica en Europa y las Américas," edited volume of Cuadernos
Económicos de I.C.E., 59 (1995).
"Efectos del
Tratado de Libre Comercio sobre la Economía Mexicana," in Jaime
Serra-Puche, editor, Hacia un Tratado de Libre Comercio en América del Norte.
Miguel Ángel Porrúa, 1991, 199–240, with Adalberto García Rocha.
"L'Estat Actual de
la Ciència Econòmica i les seves Perspectives per aquesta Dècada," Revista
Econòmica de Catalunya, 17 (1991), 64–69.
"Un Modelo de
Equilibrio General para el Análisis de la Emigración Urbana en México,"
in Alvaro Escribano Sáez, editor, "Simulación en Economía: Distintos
Enfoques," Cuadernos Económicos de I.C.E., 48 (1991), 213–37, with
Pedro Javier Noyola.
"Externalidades
Dinámicas y Equilibrio Competitivo," in Michele Boldrin, editor,
"Economías Dinámicas I," Cuadernos Económicos de I.C.E., 46
(1990), 261–77, with David K. Levine and Paul M. Romer.
"Un Análisis de
Equilibrio General de la Reforma Fiscal de 1986 en España," Investigaciones
Económicas, 13 (1989), 337–85, with Antonio Manresa, Clemente Polo, and
Ferran Sancho.
"Una Matriz de
Contabilidad Social de la Economía Española," Estadística Española,
30 (1988), 5–33, with Antonio Manresa, Clemente Polo, and Ferran Sancho.
"El Modelo
de Generaciones Sucesivas," in Manuel Santos Santos, editor, "Las
Economías de Generaciones Sucesivas," Cuadernos Económicos de I.C.E.,
35 (1987), 9–30.
"Política
Econòmica i Equilibri General. Quins són els Efectes de l'IVA?" Revista Econòmica de
Catalunya, 2 (1986), 76–81, with Antonio Manresa, Pedro Javier Noyola, Clemente
Polo, Ferran Sancho, and Jaime Serra-Puche.
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