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Ricardo Caballero

Affiliation: MIT

Ricardo J. Caballero is the Ford International Professor of Economics at MIT, Co-Director of the World Economic Laboratory, and Head of the Economics Department. A Chilean native, he received his Ph.D. from MIT.

Before returning to MIT, he taught at Columbia University for three years, and was an Olin Fellow at the NBER.

Caballero has also been a visiting scholar and consultant at the European Central Bank, the Federal Reserve Board, the Inter-American Development Bank, the International Monetary Fund, the World Bank, and several central banks and government institutions around the world.

Among his most recent publications, “Bubbles and Capital Flow Volatility: Causes and Risk Management” in Journal of Monetary Economics (with A. Krishnamurthy), and "An Equilibrium Model of 'Global Imbalances' and Low Interest Rates" (with Emmanuel Farhi and Pierre-Olivier Gourinchas) in American Economic Review, 2008, Vol. 98:1, pgs 358-393.

He serves in the editorial board of several academic journals and was the winner of the 2002 Frisch Medal of the Econometric Society, and the Smith Breeden Prize from the American Finance Association.

Visit: MIT




Ricardo Caballero's Latest Articles | 7

A Dual Exchange Rate System

Oct 19, 2010| 

Emerging markets with large trade surpluses are reluctant to heed calls for them to help with global aggregate-demand rebalancing by appreciating their currencies.... Read »

A Helicopter Drop for the Treasury

Aug 31, 2010| 

The US may be near a liquidity trap. This column argues that the ineffectiveness of monetary policy can be turned on its head by using money creation to finance... Read »

Are Policymakers on Track to Prevent a Repeat Global Crisis?

May 21, 2010| 

Are policymakers on track to prevent a repeat global crisis? This column says the answer is probably “no”. It argues that the current financial reform efforts... Read »

The “Other” Imbalance and the Financial Crisis

Jan 14, 2010| 

Global imbalances have been suggested as the root cause of the global crisis. This column argues that another imbalance is the guilty party. The entire world had... Read »

Sudden Financial Arrest

Nov 17, 2009| 

How should governments respond to sudden failure of the financial system? This column says that it is neither credible nor desirable to refuse to assist the private... Read »

Stress Tests and the Decoupling of Main and Wall Street

Apr 20, 2009| 

The approaching release of stress-test results is accompanied by widespread fears that the tests are not rigorous enough. This column argues that a modification... Read »

A “Legacy-Equity” Mechanism to Recapitalise the Banks

Mar 26, 2009| 

After unloading toxic assets, many banks will need new capital. This column proposes raising private capital to invest in distressed banks’ new equity using a... Read »

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