Alexander Hoffmaister is deputy Division Chief (Euro 1) in the European Department of the IMF. Before moving to EUR, he was in the Research Department.

Current research interest includes aging, economic growth, external shocks, and inventory behavior.

Email: ahoffmaister@imf.org

Fluent In: Spanish.

Education:

1990 PhD in Economics, Boston University

1983 B.Sc in Economics, University of Costa Rica

Previous Experience:

1989-1990. Adjunct Professor, Bentley College

1988-1989. Visiting Assistant Professor, Babson College

1987-1989. Research Associate, University of Costa Rica.

IMF Books and Working Papers:

Cyclical Behavior of Inventories and Growth Projections Recent Evidence from Europe and the United States, Working Paper No. 10/212, September 01, 2010

Yield Curve Dynamics and Spillovers in Central and Eastern European Countries, Working Paper No. 10/51, February 01, 2010

House Price Developments in Europe: A Comparison, Working Paper No. 08/211, September 01, 2008

Global Aging and Declining World Interest Rates: Macroeconomic Insurance Through Pension Reform in Cyprus, Working Paper No. 08/98, April 01, 2008

International R&D Spillovers and Institutions, Working Paper No. 08/104, April 01, 2008

Coping with Spain's Aging: Retirement Rules and Incentives, Working Paper No. 07/122, May 01, 2007

Barriers to Retail Competition and Prices: Evidence from Spain, Working Paper No. 06/231, October 01, 2006

Are There International R&D Spillovers Among Randomly Matched Trade Partners?- A Response to Keller, Working Paper No. 99/18, February 01, 1999

North-South Trade-Is Africa Unusual?, Working Paper No. 98/94, June 01, 1998

Cyclical Fluctuations in Brazil's Real Exchange Rate: The Role of Domestic and External Factors, Working Paper No. 97/128, October 01, 1997

Macroeconomic Fluctuations in Sub-Saharan Africa, Working Paper No. 97/82, July 01, 1997

Are Business Cycles Different in Asia and Latin America?, Working Paper No. 97/9, January 01, 1997

Capital Inflows and the Real Exchange Rate: Analytical Framework and Econometric Evidence, Working Paper No. 96/137, December 01, 1996

Have North-South Growth Linkages Changed?, Working Paper No. 96/54, May 01, 1996

"The Sources of Macroeconomic Fluctuations in Developing Countries: Brazil and Korea", Working Paper No. 96/20, February 01, 1996

Disinflation and the Recession-Now-Versus-Recession-Later Hypothesis: Evidence from Uruguay, Working Paper No. 95/99, October 01, 1995

Asset Prices, Financial Liberalization, and the Process of Inflation in Japan, Working Paper No. 94/153, December 01, 1994

Credibility and the Cost of Export Subsidies, Working Paper No. 91/129, December 01, 1991

Publications in Refereed Journals

Catalan, Mario, Jaime Guajardo, and Alexander W. Hoffmaister, "Coping with Spain's aging: retirement rules and incentives," forthcoming Journal of Pension Economics and Finance.

Hoffmaister, Alexander W., "Barriers to retail competition and prices: evidence from Spain," forthcoming Oxford Economic Papers.

Coe, David T, Elhanan Helpman, and Alexander W. Hoffmaister, "International R&D spillovers and institutions, European Economic Review, 2009, Vol. 53, October, pp. 723-41.

Agenor, Pierre-Richard, Joshua Aizenman, and Alexander W. Hoffmaister, "External Shocks, Bank Lending Spreads, and Output Fluctuations," Review of International Economics, 2008, Vol. 16, No. 1, pp. 1-20.

Hoffmaister, Alexander W., Mario Catalan, and Jaime Guajardo, "Addressing the Macroeconomic Consequences of Aging in Cyprus: The Case for Pension Reform," Cyprus Economic Policy Review, Vol. 1, 2007, pp. 1-25.

Agenor, Pierre-Richard, Joshua Aizenman, and Alexander W. Hoffmaister, "The Credit Crunch in East Asia: What Can Bank Excess Liquidity Assets Tell Us?" Journal of International Money and Finance, 2004, Vol. 23, No. 1, pp. 27-49.

Agenor, Pierre-Richard, Alexander W. Hoffmaister, and Carlos Medeiros, "Cyclical Fluctuations in Brazil's Real Exchange Rate: The Role of Domestic and External Factors (1988-95)" Revista Brasileira de Economia, 2002, Vol. 56, No. 1, pp. 47-73.

Hoffmaister, Alexander W., and Jorge E. Roldós, “The Sources of Macroeconomic Fluctuations in Developing Countries: Brazil and Korea,” Journal of Macroeconomics, Vol. 23, (Spring 2001), pp. 213-39.

Coe, David T. and Alexander W. Hoffmaister, “North-South Trade: Is Africa Unusual?,” Journal of African Economies, Vol. 8, 1999, pp. 228-56.

Agénor, Pierre-Richard and Alexander W. Hoffmaister, “Capital Inflows and the Real Exchange Rate: Analytical Framework and Econometric Evidence,” in Managing Capital Flows and Exchange Rates: Perspectives from the Pacific Basin, edited by Reuven Glick, Cambridge University Press, 1998, pp. 101-46.

Hoffmaister, Alexander W., Mahmood Pradhan, and Hossein Samiei, “Have North-South Growth Linkages Changed?,” World Development, Vol. 26 (May 1998), pp. 791-808.

Coe, David T., Elhanan Helpman, and Alexander W. Hoffmaister, “North-South R&D Spillovers,” The Economic Journal, Vol. 107 (January 1997), pp. 134-49.

Hoffmaister, Alexander W., “Costa Rica: Trimestralizacion del PIB Real y el Ajuste Dinamico ante Shocks Monetarios y de Tipo de Cambio, Ciencias Economicas, Vol. 11 (Julio-Diciembre 1991), pp. 145-80.

Hoffmaister, Alexander W., and Pablo F. Suama, “Una Approximacion a los Determinantes y Caracteristicas Principales de la Pobreza en Costa Rica,” Ciencias Economicas, Vol 9. (Julio-Diciembre 1989), pp. 95-109.

Working Papers in Spanish:

Hoffmaister, Alexander W., Mario Rojas, Manrique Saenz, Mariano Segura, and Edwin Tenorio, “Solvencia del Sector Publico Global: Una Exploración Empírica Preliminar para Costa Rica,” Nota de Investigacion #04-01, Banco Central de Costa Rica, June 2001.

Hoffmaister, Alexander W., Ana Celicia Kikut, Jaime Odio, and Lorely Villalobos, “Demanda Privada de Deuda Publica, y otros Activos Financieros,” Nota de Investigacion #03-01, Banco Central de Costa Rica, June 2001.

Hoffmaister, Alexander W., and Manrique Saenz, “Finanzas Publicas y Reduccion de Inflacion: Programación Financiera, y Modelos Económicos, ” Nota de Investigacion #02-01, Banco Central de Costa Rica, June 2001.

Hoffmaister, Alexander W., Gabriela Saborio, Ivannia Solano, and Alvaro Solera, “Combinacion de las Proyecciones de Inflacion,” Nota de Investigacion #01-01, Banco Central de Costa Rica, March 2001.

Hoffmaister, Alexander W., Gabriela Saborio, and Katia Vindas, “Shocks en los Precios Domésticos y Ajustes en las Proyecciones de Inflación,” Nota de Investigacion #07-00, Banco Central de Costa Rica, September 2001.

Hoffmaister, Alexander W., Jorge Madrigal, Mario Rojas, Mariano Segura, and Edwin Tenorio, “Programacion Monetaria del BCCR: Analisis, Propuestas, y Consideraciones de Mediano Plazo,” Nota de Investigacion #06-00, Banco Central de Costa Rica, January 2001.

Hoffmaister, Alexander W., Ivannia Solano, Alvaro Solera, and Katia Vindas, “Modelos Univariables de la Inflacion, Nota de Investigacion #05-00, Banco Central de Costa Rica, August 2000.

Hoffmaister, Alexander W., Ivannia Solano, Alvaro Solera, and Katia Vindas, “Transmission of Oil Price Shocks with Regulated Domestic Fuel Prices:Evidence from Costa Rica” Mimeo Banco Central de Costa Rica, July 2000 (in Spanish Nota de Investigacion #04-01, Banco Central de Costa Rica, August 2000).

Melania Flores, Alexander W. Hoffmaister, Jorge Madrigal, and Lorely Villalobos, “Monetary Transmission in a Crawling Peg Regime: Evidence from Costa Rica,” Mimeo Banco Central de Costa Rica, August 2000 (in Spanish Nota de Investigacion #03-01, Banco Central de Costa Rica, September 2000).

Melania Flores, Alexander W. Hoffmaister, Jorge Madrigal, and Lorely Villalobos, “Policy Reaction Function in a Crawling Peg Regime: Evidence from Costa Rica”, Mimeo Banco Central de Costa Rica, September 2000 (in Spanish Nota de Investigacion #02-01, Banco Central de Costa Rica, September 2000).

Hoffmaister, Alexander W., Jorge Madrigal, Mario Rojas, Mariano Segura, and Edwin Tenorio, “Inflación y Brecha en la Producción.” Nota de Investigacion #01-00, Banco Central de Costa Rica, April 2000.

Other IMF Publications

Hoffmaister Alexander W., “Inflation Targeting in Korea: An Empirical Exploration,” IMF Staff Papers, Vol. 48, 2001, pp. 317-43.

Hoffmaister, Alexander W., Jorge E. Roldós, and Peter Wickham, “Macroeconomic Fluctuations in Sub-Saharan Africa,” IMF Staff Papers, Vol. 45 (March 1998), pp. 132-60.

Hoffmaister, Alexander W., and Carlos Végh, “Disinflation and the Recession-Now-Versus-Recession-Later Hypothesis: Evidence from Uruguay,” IMF Staff Papers, Vol. 43, (June 1996), pp. 355-94.

Hoffmaister, Alexander W., “The Cost of Export Subsidies,” IMF Staff Papers , Vol. 39, (March 1992), pp. 148-74.

Hoffmaister, Alexander W., and Garry Schinasi, “Asset Prices, Financial Liberalization, and Inflation in Japan,” in Saving Behavior and the Asset Price “Bubble” in Japan, Analytical Studies, edited by Ulrich Baumgartner and Guy Meredith, IMF Occasional Paper, #124, (April 1995), pp.63-77.

Catalan, Mario, Jaime Guajardo, and Alexander W. Hoffmaister, "Pension Reform: Addressing the Consequences of Aging," Selected Issues Papers, Country Report No. 07/71, 2007

Catalan, Mario, Jaime Guajardo, and Alexander W. Hoffmaister, "Pension Reform in Spain: Macroeconomic Impact," Selected Issues Papers, Country Report No. 05/57, Chapter 2, 2005, pp. 27-75.

Daban, Teresa, Mercedes Garcia-Escribano, "EU Enlargement and Spain: More Opportunities than Challenges," Selected Issues Papers, Country Report No. 04/90, 2004.

Cespedes, Luis Felipe and Alexander W. Hoffmaister, "Fiscal Policy and Macroeconomic Volatility in Spain: An Empirical Assessment," Selected Issues Papers, Country Report No. 03/41, 2003