Roberto Rigobon

MIT Sloan School of Management
100 Main Street, E62-516
Cambridge, MA 02142
Tel: 617/258-8374
Fax: 617/258-6855

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: IFM
NBER Affiliation: Research Associate
Institutional Affiliation: Massachusetts Institute of Technology

NBER Working Papers and Publications

March 2020Contingent Linear Financial Networks
with Bomin Jiang, Munther A. Dahleh: w26814
January 2020Quantum Prices
with Diego Aparicio: w26646
March 2016The Billion Prices Project: Using Online Prices for Measurement and Research
with Alberto Cavallo: w22111

Published: Alberto Cavallo & Roberto Rigobon, 2016. "The Billion Prices Project: Using Online Prices for Measurement and Research," Journal of Economic Perspectives, vol 30(2), pages 151-178. citation courtesy of

June 2014The Price Impact of Joining a Currency Union: Evidence from Latvia
with Alberto Cavallo, Brent Neiman: w20225

Published: Alberto Cavallo & Brent Neiman & Roberto Rigobon, 2015. "The Price Impact of Joining a Currency Union: Evidence from Latvia," IMF Economic Review, Palgrave Macmillan, vol. 63(2), pages 281-297, September. citation courtesy of

September 2013Prices and Supply Disruptions during Natural Disasters
with Alberto Cavallo, Eduardo Cavallo: w19474

Published: Marshall Reinsdorf & Robert Hill & Alberto Cavallo & Eduardo Cavallo & Roberto Rigobon, 2014. "Prices and Supply Disruptions during Natural Disasters," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 60, pages S449-S471, November. citation courtesy of

January 2013Measuring Sovereign Contagion in Europe
with Massimiliano Caporin, Loriana Pelizzon, Francesco Ravazzolo: w18741

Published: Massimiliano Caporin & Loriana Pelizzon & Francesco Ravazzolo & Roberto Rigobon, 2017. "Measuring Sovereign Contagion in Europe," Journal of Financial Stability, . citation courtesy of

November 2012Currency Unions, Product Introductions, and the Real Exchange Rate
with Alberto Cavallo, Brent Neiman: w18563

Published: Currency Unions, Product Introductions, and the Real Exchange Rate* Alberto Cavallo Brent Neiman Roberto Rigobon The Quarterly Journal of Economics (2014) 129 (2): 529-595. doi: 10.1093/qje/qju008 First published online: March 18, 2014 citation courtesy of

June 2012Distance and Political Boundaries: Estimating Border Effects under Inequality Constraints.
with Fernando Borraz, Alberto Cavallo, Leandro Zipitría: w18122

Published: Fernando Borraz & Alberto Cavallo & Roberto Rigobon & Leandro Zipitria, 2016. "Distance and Political Boundaries: Estimating Border Effects under Inequality Constraints," International Journal of Finance & Economics, vol 21(1), pages 3-35. citation courtesy of

February 2011The Distribution of the Size of Price Changes
with Alberto Cavallo: w16760
December 2010Unexploited Gains from International Diversification: Patterns of Portfolio Holdings Around the World
with Tatiana Didier, Sergio L. Schmukler: w16629

Published: Tatiana Didier & Roberto Rigobon & Sergio L. Schmukler, 2013. "Unexploited Gains From International Diversification: Patterns Of Portfolio Holdings Around The World," The Review of Economics and Statistics, MIT Press, vol. 95(5), pages 1562-1583, December. citation courtesy of

International Macro-Finance
with Anna Pavlova: w16630

Published: “International Macro-Finance” (with R. Rigobon), in: G. Caprio, ed., 2013, Handbook of Safeguarding Global Financial Stability: Political, Social, Cultural, and Economic Theories and Models, Vol. 2, pp. 169-176, Oxford: Elsevier Inc.

September 2008Noisy Macroeconomic Announcements, Monetary Policy, and Asset Prices
with Brian Sack
in Asset Prices and Monetary Policy, John Y. Campbell, editor
October 2007An Asset-Pricing View of External Adjustment
with Anna Pavlova: w13468

Published: Pavlova, Anna & Rigobon, Roberto, 2010. "An asset-pricing view of external adjustment," Journal of International Economics, Elsevier, vol. 80(1), pages 144-156, January. citation courtesy of

September 2007Currency Choice and Exchange Rate Pass-through
with Gita Gopinath, Oleg Itskhoki: w13432

Published: Gita Gopinath & Oleg Itskhoki & Roberto Rigobon, 2010. "Currency Choice and Exchange Rate Pass-Through," American Economic Review, American Economic Association, vol. 100(1), pages 304-36, March. citation courtesy of

August 2006Noisy Macroeconomic Announcements, Monetary Policy, and Asset Prices
with Brian Sack: w12420
March 2006Sticky Borders
with Gita Gopinath: w12095

Published: Gita Gopinath & Roberto Rigobon, 2008. "Sticky Borders," The Quarterly Journal of Economics, MIT Press, vol. 123(2), pages 531-575, 05. citation courtesy of

June 2005Wealth Transfers, Contagion, and Portfolio Constraints
with Anna Pavlova: w11440
Capital Controls, Exchange Rate Volatility and External Vulnerability
with Sebastian Edwards: w11434

Published: Sebastian Edwards & Roberto Rigobon, 2009. "Capital controls on inflows, exchange rate volatility and external vulnerability," Journal of International Economics, vol 78(2), pages 256-267.

Comment on "Fiscal Divergence and Business Cycle Synchronization: Irresponsibility is Idiosyncratic"
in NBER International Seminar on Macroeconomics 2005, Jeffrey A. Frankel and Christopher Pissarides, editors
March 2005Stocks, Bonds, Money Markets and Exchange Rates: Measuring International Financial Transmission
with Michael Ehrmann, Marcel Fratzscher: w11166

Published: Michael Ehrmann & Marcel Fratzscher & Roberto Rigobon, 2011. "Stocks, bonds, money markets and exchange rates: measuring international financial transmission," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 26(6), pages 948-974, 09. citation courtesy of

September 2004Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships
with Dani Rodrik: w10750

Published: Rigobon, Roberto and Dani Rodrik. "Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships." The Economics of Transition 13, 3 (2005): 533-64.

The Long-Run Volatility Puzzle of the Real Exchange Rate
with Ricardo Hausmann, Ugo Panizza: w10751

Published: Hausmann, Ricardo, Ugo Panizza and Roberto Rigobon. "The Long-Run Volatility Puzzle Of The Real Exchange Rate," Journal of International Money and Finance, 2006, v25(1,Feb), 93-124. citation courtesy of

Once Again, is Openness Good for Growth?
with Ha Yan Lee, Luca Antonio Ricci: w10749

Published: Lee, Ha Yan, Luca Antonio Ricci and Roberto Rigobon. "Once Again, Is Openness Good For Growth?," Journal of Development Economics, 2004, v75(2,Dec), 451-472. citation courtesy of

March 2004A Risk Management Approach to Emerging Market's Sovereign Debt Sustainability with an Application to Brazilian Data
with Marcio Garcia: w10336

Published: Giavazzi, Francesco, Ilan Goldfajn, and Santiago Herrera (eds.) Inflation Targeting, Debt, and the Brazilian Experience: 1999 to 2003. Cambridge ,MA: MIT Press, 2005.

July 2003Asset Prices and Exchange Rates
with Anna Pavlova: w9834

Published: Anna Pavlova & Roberto Rigobon, 2007. "Asset Prices and Exchange Rates," Review of Financial Studies, Oxford University Press for Society for Financial Studies, vol. 20(4), pages 1139-1180. citation courtesy of

Monetary Policy and Sectoral Shocks: Did the FED react properly to the High-Tech Crisis?
with Claudio Raddatz: w9835
April 2003Spillovers Across U.S. Financial Markets
with Brian Sack: w9640
The Effects of War Risk on U.S. Financial Markets
with Brian Sack: w9609

Published: Rigobon, Roberto & Sack, Brian, 2005. "The effects of war risk on US financial markets," Journal of Banking & Finance, Elsevier, vol. 29(7), pages 1769-1789, July. citation courtesy of

January 2003An Alternative Interpretation of the 'Resource Curse': Theory and Policy Implications
with Ricardo Hausmann: w9424

Published: Davis, J.M., R. Ossowski, and A. Fedelino (eds.) Fiscal Policy Formulation and Implementation in Oil-Producing Countries. July 2003, IMF.

September 2002Using Heteroscedasticity to Estimate the Returns to Education
with Vincent Hogan: w9145
July 2002Identifying the Efficacy of Central Bank Interventions: The Australian Case
with Jonathan Kearns: w9062

Published: Kearns, Jonathan and Roberto Rigobon. "Identifying The Efficacy Of Central Bank Interventions: Evidence From Australia And Japan," Journal of International Economics, 2005, v66(1,May), 31-48.

February 2002The Impact of Monetary Policy on Asset Prices
with Brian P. Sack: w8794

Published: Rigobon, Roberto and Brian Sack. "The Impact Of Monetary Policy On Asset Prices," Journal of Monetary Economics, 2004, v51(8,Nov), 1553-1575. citation courtesy of

January 2002Disinflation and Fiscal Reform: A Neoclassical Perspective

Published: Rigobon, Roberto. "Disinflation And Fiscal Reform: A Neoclassical Perspective," Journal of International Economics, 2002, v57(2,Dec), 265-297. citation courtesy of

Contagion: How to Measure It?
in Preventing Currency Crises in Emerging Markets, Sebastian Edwards and Jeffrey A. Frankel, editors
December 2001The Curse of Non-Investment Grade Countries

Published: Rigobon, Roberto. "The Curse Of Non-Investment Grade Countries," Journal of Development Economics, 2002, v69(2,Dec), 423-449. citation courtesy of

July 2001Measuring the Reaction of Monetary Policy to the Stock Market
with Brian Sack: w8350

Published: Rigobon, Robert and Brian Sack. "Measuring The Reaction Of Monetary Policy To The Stock Market," Quarterly Journal of Economics, 2003, v118(2,May), 639-669. citation courtesy of

Resource Curse or Debt Overhang?
with Osmel Manzano: w8390

Published: Lederman, Daniel and William F. Maloney (eds.) Natural Resources and Development: Are They a Curse? Are They Destiny? Stanford University Press, 2003.

February 2001Contagion: How to Measure It?
September 2000Contagion in Latin America: Definitions, Measurement, and Policy Implications
with Kristin Forbes: w7885

Published: Roberto Rigobón & Kristin Forbes, 2001. "Contagion in Latin America: Definitions, Measurement, and Policy Implications," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, January. citation courtesy of

January 2000Identification through Heteroskedasticity: Measuring "Contagion: betweenArgentinean and Mexican Sovereign Bonds

Published: Roberto Rigobon, 2003. "Identification Through Heteroskedasticity," The Review of Economics and Statistics, MIT Press, vol. 85(4), pages 777-792, 09.

Comment on "Balance-of-Payments Crises in Emerging Markets: Large Capital Inflows and Sovereign Governments"
in Currency Crises, Paul Krugman, editor
September 1999On the Measurement of the International Propagation of Shocks

Published: Rigobon, Roberto, 2003. "On the measurement of the international propagation of shocks: is the transmission stable?," Journal of International Economics, Elsevier, vol. 61(2), pages 261-283, December.

July 1999No Contagion, Only Interdependence: Measuring Stock Market Co-movements
with Kristin Forbes: w7267

Published: Forbes, Kristin J. and Roberto Rigobon. "No Contagion, Only Interdependence: Measuring Stock Market Comovements," Journal of Finance, 2002, v57(5,Oct), 2223-2261. citation courtesy of

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