Economics Faculty Database
Economics
Arts & Sciences
Duke University

 HOME > Arts & Sciences > Economics > Faculty    Search Help Login pdf version printable version 

Publications of Kent P. Kimbrough    :chronological  alphabetical  by type listing:

%%    
@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{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{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{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{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}
}

@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}
}

@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}
}

@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}
}

@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}
}

@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}
}

@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}
}

@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}
}

@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{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}
}

@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}
}

@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}
}

@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}
}


Duke University * Arts & Sciences * Economics * Faculty * Research * Staff * Master's * Ph.D. * Reload * Login