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| Publications of Kent P. Kimbrough :chronological alphabetical combined listing:
%% Book Reviews
@article{fds144833,
Author = {K.P. Kimbrough},
Title = {Foreign Direct Investment: Analysis of Aggregate Flows by
Assaf Razin and Efraim Sadka},
Journal = {International Review of Economics and Finance},
Volume = {18},
Pages = {531-32},
Year = {2009},
Month = {June},
Key = {fds144833}
}
@article{fds42573,
Author = {K.P. Kimbrough},
Title = {The Decline of the Welfare State: Demography and
Globalization by A.Razin and E. Sadka in cooperation with
C.W. Nam},
Journal = {Journal of Economic Literature},
Volume = {44},
Pages = {206-208},
Year = {2006},
Month = {March},
Key = {fds42573}
}
@article{fds21063,
Title = {The Mexico-U.S. Free Trade Agreement},
Journal = {Journal of Economic Literature},
Volume = {33},
Pages = {848-9},
Editor = {Peter M. Garber},
Year = {1995},
Month = {June},
Key = {fds21063}
}
@article{fds21065,
Title = {Recent Issues in the Theory of Flexible Exchange
Rates},
Journal = {Southern Economic Journal},
Volume = {50},
Pages = {924-5},
Editor = {E. Claassen and P. Salin},
Year = {1984},
Month = {January},
Key = {fds21065}
}
%% Journal Articles
@article{fds238381,
Author = {Kimbrough, KP and Spyridopoulos, I},
Title = {The Welfare Cost of Inflation in Greece},
Journal = {South Eastern Europe Journal of Economics},
Volume = {10},
Number = {1},
Pages = {41-52},
Year = {2012},
Month = {Spring},
Key = {fds238381}
}
@article{fds238382,
Author = {Kimbrough, KP},
Title = {Unique Monetary Equilibria with Interest Rate Rules: An
Extension},
Journal = {Economics Letters},
Volume = {114},
Number = {2},
Pages = {332-334},
Year = {2012},
Month = {March},
Key = {fds238382}
}
@article{fds324315,
Author = {Kimbrough, KP},
Title = {Capital Accumulation and Economic Growth in a Small Open
Economy.},
Journal = {Journal of Economic Literature},
Volume = {48},
Number = {4},
Pages = {1041-1043},
Publisher = {AMER ECONOMIC ASSOC},
Year = {2010},
Month = {December},
Key = {fds324315}
}
@article{fds324316,
Author = {Kimbrough, KP},
Title = {Book reviews},
Journal = {International Review of Economics & Finance},
Volume = {18},
Number = {3},
Pages = {531-532},
Publisher = {Elsevier BV},
Year = {2009},
Month = {June},
url = {http://dx.doi.org/10.1016/j.iref.2008.04.002},
Doi = {10.1016/j.iref.2008.04.002},
Key = {fds324316}
}
@article{fds238384,
Author = {Kimbrough, KP},
Title = {Optimal taxes and tariffs with private information},
Journal = {Open Economies Review},
Volume = {19},
Number = {4},
Pages = {411-422},
Publisher = {Springer Nature},
Year = {2008},
Month = {September},
ISSN = {0923-7992},
url = {http://dx.doi.org/10.1007/s11079-008-9079-3},
Abstract = {The implications of private information regarding a worker's
skills for optimal tax policy in an open economy are
explored. Two cases are considered. In one general skills
are private information and in the other sector-specific
skills are private information. It is shown that for a small
open economy tariffs and other equivalent trade distortions
are not part of the optimal tax policy in either case. In
both cases the optimal policy distorts the labor-leisure
choice but only in the case of sector-specific skills as
private information are labor allocation decisions
distorted. For a large country, distortions that are
equivalent to the standard optimal tariff formula
characterize the optimal tax policy. © Springer
Science+Business Media, LLC 2008.},
Doi = {10.1007/s11079-008-9079-3},
Key = {fds238384}
}
@article{fds238385,
Author = {Kimbrough, KP},
Title = {Revenue maximizing inflation},
Journal = {Journal of Monetary Economics},
Volume = {53},
Number = {8},
Pages = {1967-1978},
Publisher = {Elsevier BV},
Year = {2006},
Month = {November},
ISSN = {0304-3932},
url = {http://hdl.handle.net/10161/1977 Duke open
access},
Abstract = {A classic monetary policy result is that revenue
maximization entails setting the inflation tax rate equal to
the inverse of the interest semi-elasticity of the demand
for money. The standard approach underlying "Cagan's rule"
is partial equilibrium in nature, treating money demand as
being given from outside the model and abstracting from the
real effects of inflation. This paper reconsiders the
question of the revenue maximizing inflation rate in a
general equilibrium framework with a labor-leisure choice,
where money is held because it reduces transactions costs.
In this framework, the revenue maximizing inflation tax rate
is lower than that implied by Cagan's rule. © 2006 Elsevier
B.V. All rights reserved.},
Doi = {10.1016/j.jmoneco.2005.07.023},
Key = {fds238385}
}
@article{fds324317,
Author = {KIMBROUGH, KP},
Title = {THE MEXICO-UNITED-STATES FREE-TRADE AGREEMENT -
GARBER,PM},
Journal = {Journal of Economic Literature},
Volume = {33},
Number = {2},
Pages = {848-849},
Publisher = {AMER ECON ASSN},
Year = {1995},
Month = {June},
Key = {fds324317}
}
@article{fds238415,
Author = {Kimbrough, KP},
Title = {"Exchange Rate Regimes and the Real Exchange
Rate"},
Journal = {Journal of Economic Integration},
Volume = {20},
Pages = {49-71},
Year = {1995},
Month = {March},
Key = {fds238415}
}
@article{fds238414,
Author = {Kimbrough, KP},
Title = {Optimal monetary policies and policy interdependence in the
world economy},
Journal = {Journal of International Money and Finance},
Volume = {12},
Number = {3},
Pages = {227-248},
Publisher = {Elsevier BV},
Year = {1993},
Month = {January},
ISSN = {0261-5606},
url = {http://hdl.handle.net/10161/1966 Duke open
access},
Abstract = {The literature on strategic policy interactions has focused
on the implications of alternative strategic policy
interactions, cooperative versus noncooperative, for
equilibrium macroeconomic policies given the state of the
world economy. This paper asks how changes in world economic
conditions alter equilibrium policies given the nature of
policy interdependence among nations. The paper considers a
world economy comprised of two countries operating under a
system of flexible exchange rates. Both governments act
noncooperatively and choose the rate of growth of their
money supply so as to maximize the utility of their
country's residents given the rate of growth of the other
country's money supply. The resulting Nash equilibrium rates
of growth of the home and foreign money supplies are
determined and the dependence of international differences
in money growth and inflation rates on international
differences in technology. (JEL E52, E60, F41, F42). ©
1993.},
Doi = {10.1016/0261-5606(93)90013-2},
Key = {fds238414}
}
@article{fds238383,
Author = {Gardner, GW and Kimbrough, KP},
Title = {Tax Regimes, Tariff Revenues and Government
Spending},
Journal = {Economica},
Volume = {59},
Number = {233},
Pages = {75-75},
Publisher = {JSTOR},
Year = {1992},
Month = {February},
ISSN = {0013-0427},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1992HF58300006&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/2555067},
Key = {fds238383}
}
@article{fds238410,
Author = {Gardner, GW and Kimbrough, KP},
Title = {Tax smoothing and tariff behavior in the United
States},
Journal = {Journal of Macroeconomics},
Volume = {14},
Number = {4},
Pages = {711-729},
Publisher = {Elsevier BV},
Year = {1992},
Month = {Fall},
ISSN = {0164-0704},
url = {http://dx.doi.org/10.1016/0164-0704(92)90007-U},
Abstract = {This paper develops and tests a public finance theory of
tariff behavior. Tariffs are viewed as being part of the
optimum revenue raising tax package so that tariff revenue
is closely tied to government spending. A key implication of
the theory is that tariff rate movements should be
consistent with tax-smoothing behavior. The test focuses on
the United States during the years 1869-1916. The results of
the test support the theory. © 1992.},
Doi = {10.1016/0164-0704(92)90007-U},
Key = {fds238410}
}
@article{fds238411,
Author = {Kimbrough, KP},
Title = {Speculative attacks: The roles of intertemporal substitution
and the interest elasticity of the demand for
money},
Journal = {Journal of Macroeconomics},
Volume = {14},
Number = {4},
Pages = {689-710},
Publisher = {Elsevier BV},
Year = {1992},
Month = {Fall},
ISSN = {0164-0704},
url = {http://dx.doi.org/10.1016/0164-0704(92)90006-T},
Abstract = {The effects of an anticipated speculative attack and
exchange rate regime collapse brought on by an unsustainable
mix of domestic credit and exchange rate policies is
examined. A maximizing model with money demand motivated by
a transactions technology which implies that increased money
holdings reduce transactions costs associated with
consumption good purchases is used. It is demonstrated that
the effects of an impending speculative attack depend
crucially on two margins through which the forward-looking
behavior of rational consumers manifests itself the
intertemporal elasticity of substitution in consumption and
the interest elasticity of the demand for money. ©
1992.},
Doi = {10.1016/0164-0704(92)90006-T},
Key = {fds238411}
}
@article{fds238412,
Author = {Kimbrough, KP},
Title = {Specialization, the terms of trade, and the international
transmission of monetary policies},
Journal = {The Canadian Journal of Economics},
Volume = {25},
Number = {4},
Pages = {884-900},
Publisher = {JSTOR},
Year = {1992},
Month = {January},
url = {http://dx.doi.org/10.2307/135770},
Abstract = {The Ricardian model with a continuum of goods is extended to
a cash-in-advance environment with variable labour supply,
which allows domestic monetary policy to influence real
activity through an inflation tax channel and to be
internationally transmitted to real activity abroad. The
continuum-of-goods feature of the model allows for the
international transmission of monetary policies to occur at
both intensive and extensive margins. At the intensive
margin monetary policy is internationally transmitted via
its impact on relative employment levels at home and abroad.
This in turn alters the terms of trade, thereby affecting
the range of commodities in which the home country has a
comparative advantage. Monetary policies are thus
transmitted at the extensive margin by influencing
international patterns of trade and specialization.
-Author},
Doi = {10.2307/135770},
Key = {fds238412}
}
@article{fds238413,
Author = {Gardner, GW and Slottje, DJ and Kimbrough, KP},
Title = {Tariff behavior in five European countries},
Journal = {Economics Letters},
Volume = {39},
Number = {1},
Pages = {73-78},
Publisher = {Elsevier BV},
Year = {1992},
Month = {January},
ISSN = {0165-1765},
url = {http://dx.doi.org/10.1016/0165-1765(92)90104-7},
Abstract = {This paper examines the time series properties of average
tariff rates for Denmark, France, Sweden, Switzerland, and
the United Kingdom. For all five countries the tariff series
contains a unit root. However, a complete description of the
tariff rate series for each country suggests that tariff
changes may have quite different effects on macroeconomic
variables, such as the trade balance, in each of the five
countries studied. © 1992.},
Doi = {10.1016/0165-1765(92)90104-7},
Key = {fds238413}
}
@article{fds238409,
Author = {Kimbrough, KP},
Title = {Optimal taxation and inflation in an open
economy},
Journal = {Journal of Economic Dynamics and Control},
Volume = {15},
Number = {1},
Pages = {179-196},
Publisher = {Elsevier BV},
Year = {1991},
Month = {January},
ISSN = {0165-1889},
url = {http://dx.doi.org/10.1016/0165-1889(91)90032-V},
Abstract = {This paper examines the role of the inflation tax in the
optimal revenue-raising tax package for a small open economy
where money is held because it serves to reduce
transacttions costs associated with purchasing goods.
Consumers choose whether domestic money or foreign money
will serve as the medium of exchange for various goods
purchases so as to minimize such costs. Results are derived
regarding the appropriate role of taxes on domestic and
foreign money in the optimal tax structure. It is
demonstrated that with a sufficiently rich tax structure
Friedman's rule, which calls for a monetary policy that
drives the nominal interest rate to zero, is a component of
the optimal tax policy. © 1991.},
Doi = {10.1016/0165-1889(91)90032-V},
Key = {fds238409}
}
@article{fds238408,
Author = {Gardner, GW and Kimbrough, KP},
Title = {The Economics of Country-Specific Tariffs},
Journal = {International Economic Review},
Volume = {31},
Number = {3},
Pages = {575-575},
Publisher = {JSTOR},
Year = {1990},
Month = {August},
ISSN = {0020-6598},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1990DR01100005&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/2527162},
Key = {fds238408}
}
@article{fds238407,
Author = {Gardner, GW and Kimbrough, KP},
Title = {The Effects of Trade-Balance-Triggered Tariffs},
Journal = {International Economic Review},
Volume = {31},
Number = {1},
Pages = {117-117},
Publisher = {JSTOR},
Year = {1990},
Month = {February},
ISSN = {0020-6598},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1990CN16700009&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/2526632},
Key = {fds238407}
}
@article{fds238406,
Author = {Gardner, KPKWGW},
Title = {"The Behavior of U.S. Tariff Rates"},
Journal = {American Economic Review},
Volume = {79},
Number = {1},
Pages = {211-218},
Publisher = {AMER ECON ASSN},
Year = {1989},
Month = {March},
url = {http://hdl.handle.net/10161/1854 Duke open
access},
Key = {fds238406}
}
@article{fds238404,
Author = {Kimbrough, K},
Title = {Optimal taxation in a monetary economy with financial
intrmediaries},
Journal = {Journal of Macroeconomics},
Volume = {11},
Number = {4},
Pages = {493-511},
Publisher = {Elsevier BV},
Year = {1989},
Month = {Fall},
ISSN = {0164-0704},
url = {http://dx.doi.org/10.1016/0164-0704(89)90002-5},
Abstract = {The problem of optimal taxation when the government must
levy distorting taxes to meet its revenue needs is
considered for a monetary economy with financial
intermediaries. In contrast to most other studies of optimal
taxation in a monetary economy, money is treated as an
intermediate good which is held because doing so economizes
on the scarce resources that must be devoted to the exchange
process. Attention is focused on the roles of the inflation
tax, reserve requirements, and deposit taxes. The key result
is that revenue considerations do not justify taxing cash
and deposits. That is, the optimal tax structure calls for
adopting the optimum quantity of money rule and setting
deposit taxes to zero. When the optimal tax structure is in
place, reserve requirements turn out to be irrelevant from
both the fiscal and welfare perspectives. ©
1989.},
Doi = {10.1016/0164-0704(89)90002-5},
Key = {fds238404}
}
@article{fds238405,
Author = {Gardner, GW and Kimbrough, KP},
Title = {Tariffs, interest rates, and the trade balance in the world
economy},
Journal = {Journal of International Economics},
Volume = {27},
Number = {1-2},
Pages = {91-110},
Publisher = {Elsevier BV},
Year = {1989},
Month = {January},
ISSN = {0022-1996},
url = {http://hdl.handle.net/10161/1963 Duke open
access},
Abstract = {A two-commodity intertemporal framework is used to show
that, in contrast to the conventional wisdom, both permanent
and temporary tariffs may worsen the trade balance of a
large country. For a temporary tariff the key condition for
this result is a low intertemporal elasticity of
substitution in consumption. When a temporary tariff worsens
the trade balance the world real interest rate must fall if
the tariff-imposing country is running a deficit and rise if
it is running a surplus. Temporary tariffs can only worsen
the trade balance of a surplus country when international
differences in tastes are important. © 1989.},
Doi = {10.1016/0022-1996(89)90079-2},
Key = {fds238405}
}
@article{fds238401,
Author = {Greenwood, J and Kimbrough, KP},
Title = {An Investigation in the Theory of Foreign Exchange
Controls},
Journal = {The Canadian Journal of Economics},
Volume = {20},
Number = {2},
Pages = {271-271},
Publisher = {JSTOR},
Year = {1987},
Month = {May},
ISSN = {0008-4085},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1987H684600004&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/135361},
Key = {fds238401}
}
@article{fds238402,
Author = {Greenwood, J and Kimbrough, KP},
Title = {Foreign exchange controls in a black market
economy},
Journal = {Journal of Development Economics},
Volume = {26},
Number = {1},
Pages = {129-143},
Publisher = {Elsevier BV},
Year = {1987},
Month = {January},
ISSN = {0304-3878},
url = {http://dx.doi.org/10.1016/0304-3878(87)90055-1},
Abstract = {An investigation of the impact of foreign exchange controls
in a black market economy is undertaken within the context
of a choice-theoretic cash-in-advance general equilibrium
model. While such controls may improve a 'distortion-free'
economy's trade balance and balance of payments they are
found to increase the domestic price of imports and lower
the country's welfare. The ramifications of black market for
economic welfare turn out to be ambiguous, depending
crucially on the government's reaction to the leakage of
foreign exchange into the economy via illegal activity. ©
1987.},
Doi = {10.1016/0304-3878(87)90055-1},
Key = {fds238402}
}
@article{fds238399,
Author = {Kimbrough, KP},
Title = {Inflation, Employment, and Welfare in the Presence of
Transactions Costs},
Journal = {Journal of Money, Credit and Banking},
Volume = {18},
Number = {2},
Pages = {127-127},
Publisher = {JSTOR},
Year = {1986},
Month = {May},
ISSN = {0022-2879},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1986C646300001&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/1992197},
Key = {fds238399}
}
@article{fds238400,
Author = {Kimbrough, KP},
Title = {Foreign Aid and Optimal Fiscal Policy},
Journal = {The Canadian Journal of Economics},
Volume = {19},
Number = {1},
Pages = {35-35},
Publisher = {JSTOR},
Year = {1986},
Month = {February},
ISSN = {0008-4085},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1986A401200003&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/135170},
Key = {fds238400}
}
@article{fds238403,
Author = {Kimbrough, KP},
Title = {The optimum quantity of money rule in the theory of public
finance},
Journal = {Journal of Monetary Economics},
Volume = {18},
Number = {3},
Pages = {277-284},
Publisher = {Elsevier BV},
Year = {1986},
Month = {January},
ISSN = {0304-3932},
url = {http://hdl.handle.net/10161/1978 Duke open
access},
Abstract = {This paper examines optimal tax policy in a monetary economy
in which money serves as an intermediate good that helps
facilitate the conversion of scarce resources into final
consumption goods by enabling consumers to economize on the
costs of transacting. It is shown that in such an
environment, even though distorting taxes must be levied for
revenue purposes, the optimal tax structure calls for
abstaining from inflationary finance and adopting the
optimum quantity of money rule. © 1986.},
Doi = {10.1016/0304-3932(86)90040-1},
Key = {fds238403}
}
@article{fds238397,
Author = {Greenwood, J and Kimbrough, KP},
Title = {Capital Controls and Fiscal Policy in the World
Economy},
Journal = {The Canadian Journal of Economics},
Volume = {18},
Number = {4},
Pages = {743-743},
Publisher = {JSTOR},
Year = {1985},
Month = {November},
ISSN = {0008-4085},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1985AXF9900003&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/135088},
Key = {fds238397}
}
@article{fds324318,
Author = {Kimbrough, KP and Darby, MR and Lothian, JR and Gandolfi, AE and Schwartz, AJ and Stockman, AC},
Title = {The International Transmission of Inflation},
Journal = {Journal of Money, Credit and Banking},
Volume = {17},
Number = {1},
Pages = {118-118},
Publisher = {JSTOR},
Year = {1985},
Month = {February},
url = {http://dx.doi.org/10.2307/1992512},
Doi = {10.2307/1992512},
Key = {fds324318}
}
@article{fds238394,
Author = {Kimbrough, KP},
Title = {An examination of the effects of government purchases in an
open economy},
Journal = {Journal of International Money and Finance},
Volume = {4},
Number = {1},
Pages = {113-133},
Publisher = {Elsevier BV},
Year = {1985},
Month = {January},
ISSN = {0261-5606},
url = {http://hdl.handle.net/10161/1971 Duke open
access},
Abstract = {This paper examines the effects of permanent and transitory
changes in government purchases in the context of a model of
a small open economy that produces and consumes both traded
and nontraded goods. The model incorporates an equilibrium
interpretation of the business cycle that emphasizes the
responsiveness of agents to intertemporal relative price
changes. It is demonstrated that transitory increases in
government purchases lead to an appreciation of the real
exchange rate and an ambiguous change (although a likely
worsening) in the current account, while permanent increases
have an ambiguous impact on the real exchange rate and no
effect on the current account. When agents do not know
whether a given increase in government purchases is
permanent or transitory the effect is a weighted average of
these separate effects. The weights depend on the relative
variances of the transitory and permanent components of
government purchases. © 1985.},
Doi = {10.1016/0261-5606(85)90009-9},
Key = {fds238394}
}
@article{fds238395,
Author = {Kimbrough, KP},
Title = {Futures markets and monetary policy},
Journal = {Journal of Monetary Economics},
Volume = {15},
Number = {1},
Pages = {69-79},
Publisher = {Elsevier BV},
Year = {1985},
Month = {January},
ISSN = {0304-3932},
url = {http://dx.doi.org/10.1016/0304-3932(85)90053-4},
Abstract = {It has recently been argued that when differentially
informed agents trade with one another monetary policy can
influence the distribution of output by altering the
information content of prices. This paper introduces a
futures market into the Barro (1980) model and shows that
under certain conditions prices may aggregate information in
a manner such that differentially informed agents hold
identical beliefs concerning aggregate market conditions. In
such cases, monetary policy will be unable to influence the
distribution of output. These results then serve as a
backdrop for a more general discussion of the relationship
between asset prices and the role of monetary policy. ©
1985.},
Doi = {10.1016/0304-3932(85)90053-4},
Key = {fds238395}
}
@article{fds238396,
Author = {Kimbrough, KP},
Title = {Rational expectations, market shocks, and the exchange
rate},
Journal = {Journal of Macroeconomics},
Volume = {7},
Number = {3},
Pages = {297-312},
Publisher = {Elsevier BV},
Year = {1985},
Month = {Summer},
ISSN = {0164-0704},
url = {http://dx.doi.org/10.1016/0164-0704(85)90073-4},
Abstract = {The world economy has been subjected to numerous real shocks
in recent years. In addition, purchasing-power parity seems
to have collapsed. Critics of the monetary approach to the
exchange rate have been quick to draw attention to these
facts. This paper extends the basic framework of the
monetary approach so that it provides a useful tool for
explaining the impact of real shocks on the exchange rate
and so that it is compatible with the existence of
significant deviations from purchasing-power parity. The
real shocks that are discussed include changes in commercial
policy, the terms of trade, and productivity. It is
demonstrated that real shocks influence the exchange rate
through two distinct channels-a real-income channel and a
deviations from purchasing-power-parity channel. ©
1986.},
Doi = {10.1016/0164-0704(85)90073-4},
Key = {fds238396}
}
@article{fds238398,
Author = {Kimbrough, KP},
Title = {Tariffs, quotas and welfare in a monetary
economy},
Journal = {Journal of International Economics},
Volume = {19},
Number = {3-4},
Pages = {257-277},
Publisher = {Elsevier BV},
Year = {1985},
Month = {January},
ISSN = {0022-1996},
url = {http://dx.doi.org/10.1016/0022-1996(85)90035-2},
Abstract = {The effects of tariffs and quotas on welfare in a monetary
economy are considered. It is shown that while both policies
improve the balance of payments they have different lifetime
welfare implications even when they are equivalent in the
long run. The speed of adjustment is shown to be more rapid
under a tariff than under a quota. Therefore, adjustment
costs associated with changes in money holdings are lower
under a tariff while those associated with changes in
consumption are higher. Simulation results are used to
examined the implications of various structural parameters
for lifetime utility under the two policies. ©
1985.},
Doi = {10.1016/0022-1996(85)90035-2},
Key = {fds238398}
}
@article{fds238393,
Author = {Kimbrough, KP},
Title = {The Forward Rate as a Predictor of the Future Spot Rate, the
Role of Policy, and Exchange Rate Regime
Choice},
Journal = {International Economic Review},
Volume = {25},
Number = {3},
Pages = {527-527},
Publisher = {JSTOR},
Year = {1984},
Month = {October},
ISSN = {0020-6598},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1984ABW4700002&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/2526217},
Key = {fds238393}
}
@article{fds238389,
Author = {Kimbrough, KP and Koray, F},
Title = {Money, Output, and the Trade Balance: Theory and
Evidence},
Journal = {The Canadian Journal of Economics},
Volume = {17},
Number = {3},
Pages = {508-508},
Publisher = {JSTOR},
Year = {1984},
Month = {August},
ISSN = {0008-4085},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1984TN39900008&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/135189},
Key = {fds238389}
}
@article{fds238390,
Author = {Kimbrough, KP},
Title = {The Derivation and Interpretation of the Lucas Supply
Function: Comment},
Journal = {Journal of Money, Credit and Banking},
Volume = {16},
Number = {3},
Pages = {367-367},
Publisher = {JSTOR},
Year = {1984},
Month = {August},
ISSN = {0022-2879},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1984TD70900012&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/1992227},
Key = {fds238390}
}
@article{fds238392,
Author = {Kimbrough, KP},
Title = {Commercial Policy and Aggregate Employment Under Rational
Expectations},
Journal = {The Quarterly Journal of Economics},
Volume = {99},
Number = {3},
Pages = {567-567},
Publisher = {Oxford University Press (OUP)},
Year = {1984},
Month = {August},
ISSN = {0033-5533},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1984TH18700009&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/1885965},
Key = {fds238392}
}
@article{fds238388,
Author = {Kimbrough, KP},
Title = {The Corporation Income Tax in the Open Economy},
Journal = {International Economic Review},
Volume = {25},
Number = {2},
Pages = {391-391},
Publisher = {JSTOR},
Year = {1984},
Month = {June},
ISSN = {0020-6598},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1984TL95300009&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.2307/2526205},
Key = {fds238388}
}
@article{fds238391,
Author = {Kimbrough, KP},
Title = {Aggregate Information and the Role of Monetary Policy in an
Open Economy},
Journal = {Journal of Political Economy},
Volume = {92},
Number = {2},
Pages = {268-285},
Publisher = {University of Chicago Press},
Year = {1984},
Month = {April},
ISSN = {0022-3808},
url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:A1984SN43300006&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
Doi = {10.1086/261224},
Key = {fds238391}
}
@article{fds324319,
Author = {Kimbrough, KP and Claassen, E and Salin, P},
Title = {Recent Issues in the Theory of Flexible Exchange
Rates},
Journal = {Southern Economic Journal},
Volume = {50},
Number = {3},
Pages = {924-924},
Publisher = {JSTOR},
Year = {1984},
Month = {January},
url = {http://dx.doi.org/10.2307/1058022},
Doi = {10.2307/1058022},
Key = {fds324319}
}
@article{fds238386,
Author = {Kimbrough, KP},
Title = {Asset preferences, trade in assets, and exchange rate
behavior during the adjustment process},
Journal = {Atlantic Economic Journal},
Volume = {11},
Number = {2},
Pages = {52-62},
Publisher = {Springer Nature},
Year = {1983},
Month = {July},
ISSN = {0197-4254},
url = {http://dx.doi.org/10.1007/BF02303368},
Doi = {10.1007/BF02303368},
Key = {fds238386}
}
@article{fds238387,
Author = {Kimbrough, KP},
Title = {Exchange-rate policy and monetary information},
Journal = {Journal of International Money and Finance},
Volume = {2},
Number = {3},
Pages = {333-346},
Publisher = {Elsevier BV},
Year = {1983},
Month = {January},
ISSN = {0261-5606},
url = {http://hdl.handle.net/10161/1968 Duke open
access},
Abstract = {This paper develops a model of a small open economy in which
the presence of local deviations from purchasing power
parity give rise to differential information. It is assumed
that the monetary authorities are committed to buy and sell
foreign exchange in order to support an exchange-rate policy
rule. It is demonstrated that exchange-rate policy can
influence the distribution of real output (i) if agents
possess incomplete and differential information and (ii) if
they have contemporaneous money supply (or balance of
payments) information. It is also shown that exchange-rate
policy can be effective because of its ability to influence
the information content of available monetary data. The
argument is turned around and used to support the frequent
release of monetary data. © 1983 Butterworth & Co
(Publishers) Ltd.},
Doi = {10.1016/S0261-5606(83)80007-2},
Key = {fds238387}
}
@article{fds238418,
Author = {Kimbrough, KP},
Title = {Price, output, and exchange rate movements in the open
economy},
Journal = {Journal of Monetary Economics},
Volume = {11},
Number = {1},
Pages = {25-44},
Publisher = {Elsevier BV},
Year = {1983},
Month = {January},
ISSN = {0304-3932},
url = {http://hdl.handle.net/10161/1973 Duke open
access},
Abstract = {Since the advent of managed floating it has come to be
accepted as a stylized fact that short-run deviations from
purchasing power parity are both substantial and persistent.
Two explanations of these deviations have been advanced in
the literature. One emphasizes the role of changes in
non-traded goods prices while the other views deviations
from purchasing power parity as being due to sticky goods
prices and slow adjustment of goods markets. This paper
presents yet a third possible explanation of deviations from
purchasing power parity - they may be necessary in order to
facilitate the relative price changes that are required to
maintain equilibrium in the face of unanticipated shocks. In
addition, the issue of exchange rate overshooting is
addressed. Whereas the sticky price models view exchange
rate overshooting and exchange rate volatility as symptoms
of some fundamental disequilibrium, the perspective taken
here is that these events are, in principle, compatible with
a world in which all markets clear continuously. ©
1983.},
Doi = {10.1016/0304-3932(83)90012-0},
Key = {fds238418}
}
@article{fds238419,
Author = {Kimbrough, KP},
Title = {The information content of the exchange rate and the
stability of real output under alternative exchange-rate
regimes},
Journal = {Journal of International Money and Finance},
Volume = {2},
Number = {1},
Pages = {27-38},
Publisher = {Elsevier BV},
Year = {1983},
Month = {January},
ISSN = {0261-5606},
url = {http://hdl.handle.net/10161/1969 Duke open
access},
Abstract = {When the exchange rate is flexible, and thus responds to
market forces, it provides agents with useful information,
while when it is fixed (by a feedback rule) it does not. The
implications of this asymmetry for the stability of real
output under the two regimes is discussed. It is shown that
whenever shocks are predominantly of one variety, or when
domestic monetary shocks accompanied by one real shock, a
flexible exchange rate does a better job of stabilizing real
output than does a fixed exchange rate. These results
undermine arguments favoring fixed exchange rates because
they 'discipline' monetary policy. In addition, it is
demonstrated that managed floating rules and exchange rate
feedback rules are irrelevant for the distribution of real
output. © 1983.},
Doi = {10.1016/0261-5606(83)90004-9},
Key = {fds238419}
}
@article{fds238416,
Author = {Kimbrough, KP},
Title = {Growth, relative prices, and exchange rates},
Journal = {Economics Letters},
Volume = {10},
Number = {1-2},
Pages = {137-143},
Publisher = {Elsevier BV},
Year = {1982},
Month = {January},
ISSN = {0165-1765},
url = {http://dx.doi.org/10.1016/0165-1765(82)90128-8},
Abstract = {Using the framework of the monetary (or asset market)
approach to the exchange rate it is demonstrated that if
growth alters relative prices the growing country's currency
may depreciate rather than appreciate as suggested by
Mundell. © 1982.},
Doi = {10.1016/0165-1765(82)90128-8},
Key = {fds238416}
}
@article{fds238417,
Author = {Kimbrough, KP},
Title = {Real disturbances, the current account, and the exchange
rate. The case of a tariff},
Journal = {Journal of International Economics},
Volume = {13},
Number = {3-4},
Pages = {291-300},
Publisher = {Elsevier BV},
Year = {1982},
Month = {January},
ISSN = {0022-1996},
url = {http://dx.doi.org/10.1016/0022-1996(82)90059-9},
Abstract = {This paper examines the effects of an unanticipated tariff
on the current account and the exchange rate. It is
demonstrated that if nontraded goods and importables are
substitutes (complements) in excess demand, the imposition
of a tariff will (may) lead to a current account surplus
(deficit) and an appreciation (depreciation) of the domestic
currency. The model can be extended to analyze the effects
of other real disturbances on the current account and the
exchange rate. © 1982.},
Doi = {10.1016/0022-1996(82)90059-9},
Key = {fds238417}
}
%% Chapters in Books
@misc{fds21031,
Author = {K.P. Kimbrough},
Title = {"The Inflation Tax"},
Booktitle = {The New Palgrave Dictionary of Money and
Finance},
Publisher = {New York: Stockton Press},
Editor = {J. Eatwell and M. Milgate and P. Newman},
Year = {1992},
Key = {fds21031}
}
@misc{fds21044,
Author = {K.P. Kimbrough},
Title = {"Optimal Tax Policy for Balance of Payments
Objectives"},
Pages = {309-37},
Booktitle = {International Aspects of Fiscal Policies},
Publisher = {Chicago: University of Chicago Press},
Editor = {J. A. Frenkel},
Year = {1988},
Key = {fds21044}
}
@misc{fds21042,
Author = {K.P. Kimbrough},
Title = {"International Linkages, Exchange Rate Regimes, and the
International Transmission Process: Perspectives from
Optimizing Models"},
Pages = {119-96},
Booktitle = {International Economics},
Publisher = {Boston: Kluwer-Nijhoff},
Editor = {L. H. Officer},
Year = {1987},
Key = {fds21042}
}
@misc{fds21051,
Author = {K.P. Kimbrough},
Title = {"Monetary Procedures and Monetary Policy"},
Pages = {215-23},
Booktitle = {Alternative Monetary Regimes},
Publisher = {Baltimore: Johns Hopkins University Press},
Editor = {Colin D. Campbell and William R. Dougan},
Year = {1986},
Key = {fds21051}
}
@misc{fds21024,
Author = {K.P. Kimbrough},
Title = {"Real Adjustment and Exchange Rate Dynamics:
Comment"},
Pages = {308-12},
Booktitle = {Exchange Rates and International Macroeconomics},
Publisher = {University of Chicago Press},
Editor = {Jacob A. Frenkel},
Year = {1983},
Key = {fds21024}
}
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