Guillermo Vuletin is an Assistant Professor at the Department of Economics at Colby College. His research focuses on fiscal and monetary policies, and exchange rate regimes with a particular interest in macroeconomic policy in developing countries. Guillermo holds a B.A. and M.A. in Economics from the National University of La Plata (Argentina), and a Ph.D. in Economics from the University of Maryland. At Colby, he teaches principles of macroeconomics; mathematical economics; currency, banking, and debt crises and open economy macroeconomics.
Publications
The effects of alternative exchange rate regimes on real exchange rate volatility. Evidence based on a new data set, (with Jorge Carrera). Forthcoming in the Contemporary Economic Policy. Download
Replacing a "disobedient" central bank governor with a "docile" one. A novel measure of central bank independence and its effect on inflation, (with Ling Zhu). Journal of Money, Credit and Banking, Vol. 43 (September 2011), pp. 1185-1215. Journal Link Download
Measuring the Informal Economy in Latin America and the Caribbean. Money Affairs, Vol. 21 (January 2009), pp. 161-191. Journal Link IMF Working Paper No 102, April 2008. Reprinted in: Asha Joshi ed. Underground Economy : A Constant Companion (India: ICFAI University Press, forthcoming). Download
Sustainability of Fiscal Policies, Exogeneity and Causality Between Expenditures and Revenues in the Provinces of Argentina. Economica, Vol. 49 (December 2003), pp. 117-160. Journal Link Download
Risk-Rent Analysis of Argentinean Exports in the Nineties, (with Mariano Rabassa). Revista IEFE, Instituto de Estudios Fiscales y Economicos (Institute of Fiscal and Economic Studies), Vol. 105 (August 2000), pp. 47-58.
Articles for books
Overcoming the fear of free falling: Monetary policy graduation in emerging markets (with Carlos Vegh). Forthcoming in The Role of Central Banks in Financial Stability: How Has It Changed? (Federal Reserve Bank of Chicago), 2012. Link to conference Download
Opinion columns and press coverage (selected)
Fiscal policy worsened economic cycles (in Spanish: El manejo de las finanzas publicas profundizo los ciclos economicos), Busqueda, Uruguay, June 30, 2011. Article
Fiscal policy in developing countries: Escape from procyclicality, (with Jeffrey Frankel and Carlos Vegh), Vox, June 2011. Link
The importance of informal economy (in French: Le poids de l'informel), La Gazette des Caraibes, Guadeloupe, May 20, 2007. Article
Do high taxes increase informal economy? (in Spanish: Provocan altos impuestos comercio informal), El Siglo de Durango, Mexico, November 5, 2006. Article
Work in progress
How do Federal Transfer Systems Affect Fiscal Cyclicality at the Sub-national Level?, (with Carlos Vegh).
Cyclicality of Fiscal Policies in U.S. states: Balanced Budget Rules vs. Political Ideology, (with Ian Cummins).
The Determinants of Credit Ratings for U.S. Private Colleges and Universities, (with Robin Daley and David Findlay).
Working papers
How is tax policy conducted over the business cycle?, (with Carlos Vegh). NBER Working Paper No 17753, January 2012. Submitted. Download
On graduation from procyclicality, (with Jeffrey Frankel and Carlos Vegh). Invited to Revise and Resubmit to Journal of Development Economics. NBER Working Paper No 17619, November 2011. Download
The flypaper and teflon effects: Evidence from China, (with Lyoe Lee). Submitted. Download
Unsticking the flypaper effect in an uncertain world, (with Carlos Vegh). Submitted. Download
Unsticking the flypaper effect using distortionary taxation, (with Carlos Vegh). Submitted. Download
The role of central bank independence on optimal taxation and seigniorage, (with Roberto Delhy Nolivos). Submitted. Older version: Research Paper No. 2011-103, Paolo Baffi Centre, Centre on Central Banking and Financial Regulation, Bocconi University, July 2011. Download
Exchange Rate Regimes and Fiscal Discipline: The Role of Capital Controls. Invited to Revise and Resubmit to Economic Inquiry. Download
