Professional Experience

• • Senior Economist

    Board of Governors of the Federal Reserve System

  • 1983 - present

• • Professorial Lecturer

    Georgetown University

  • 1984 - 1985

• • Professorial Lecturer

    University of Maryland

  • 1986 - 1990

• • Professorial Lecturer

    Johns Hopkins University-SAIS

  • 1990 - present

• • Consultant

    International Monetary Fund

  • 2006 - 2007

• • Professorial Lecturer

    George Mason University

  • 2004

Publications

• Marquez, Jaime R., Ari Morse, and Bernd Schlusche (Forthcoming). "The Federal Reserve's Balance Sheet and Overnight Interest Rates: Empirical Modeling of Exit Strategies," Journal of Banking and Finance.
• Beltran, Daniel O., Maxwell Kretchmer, Jaime Marquez, and Charles P. Thomas (2013). "Foreign Holdings of U.S. Treasuries and U.S. Treasury Yields," Journal of International Money and Finance, vol. 32, pp. 1120-1143.
• Beltran, Daniel O., Maxwell Kretchmer, Jaime Marquez, and Charles P. Thomas (2012). "Foreign Holdings of U.S. Treasuries and U.S. Treasury Yields," International Finance Discussion Papers 1041. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R., Ari Morse, and Bernd Schlusche (2012). "The Federal Reserve's Balance Sheet and Overnight Interest Rates," Finance and Economics Discussion Series 2012-66. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R., Charles P. Thomas, and Corinne Land (2012). "International Relative Price Levels: A Look Under the Hood," International Finance Discussion Papers 1055. Board of Governors of the Federal Reserve System (U.S.).
• Ihrig, Jane, Steven B. Kamin, Deborah Lindner, and Jaime Marquez (2010). "Some Simple Tests of the Globalization and Inflation Hypothesis," International Finance, vol. 13, no. 3, pp. 343-375.
• Thomas, Charles P., and Jaime Marquez (2009). "Measurement Matters for Modelling US Import Prices," International Journal of Finance and Economics, vol. 14, no. 2, pp. 120-138.
• Thomas, Charles P., Jaime Marquez, and Sean Fahle (2009). "Measuring China’s International Relative Prices," ICP Bulletin, vol. 6, no. 1, pp. 24-28.
• Thomas, Charles P., Jaime Marquez, and Sean Fahle (2009). "The Symposium on 'China's Impact on the Global Economy': Measures of International Relative Prices for China and the USA," Pacific Economic Review, vol. 14, no. 3, pp. 376-397.
• Thomas, Charles P., Jaime Marquez, and Sean Fahle (2008). "Measuring U.S. International Relative Prices: A WARP View of the World," International Finance Discussion Papers 917. Board of Governors of the Federal Reserve System (U.S.).
• Ihrig, Jane, Steven B. Kamin, Deborah Lindner, and Jaime Marquez (2007). "Some Simple Tests of the Globalization and Inflation Hypothesis," International Finance Discussion Papers 891. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime, and John Schindler (2007). "Exchange-Rate Effects on China's Trade," Review of International Economics, vol. 15, no. 5, pp. 837-853.
• Ihrig, Jane, and Jaime Marquez (2006). "Modeling Direct Investment Valuation Adjustments and Estimating Quarterly Positions," International Finance Discussion Papers 857. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (2006). "Estimating Elasticities for U.S. Trade in Services," Economic Modelling, vol. 23, no. 2, pp. 276-307.
• Marquez, Jaime, and John W. Schindler (2006). "Exchange-Rate Effects on China's Trade: An Interim Report," International Finance Discussion Papers 861. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime, and John W. Schindler (2006). "Exchange-Rate Effects on China's Trade: An Interim Report," Working Paper Series 2006-41. Federal Reserve Bank of San Francisco.
• Marquez, Jaime, and Shing-Yi Wang (2006). "IT Investment and Hicks' Composite-Good Theorem: The US Experience," Journal of economic and social measurement, vol. 31, no. 1-2, pp. 33-46.
• Thomas, Charles P., and Jaime Marquez (2006). "Measurement Matters for Modeling U.S. Import Prices," International Finance Discussion Papers 883. Board of Governors of the Federal Reserve System (U.S.).
• Ericsson, Neil R., and Jaime Marquez (2005). "Encompassing the Forecasts of U.S. Trade Balance Models," in Campos, Julia, Neil Ericsson R. and David Hendry F. eds., General-to-Specific Modelling Vol 2. Cheltenham, U.K. and Northampton, Mass: Elgar, pp. 362-374.
• Marazzi, Mario, Nathan Sheets, Robert J. Vigfusson, Jon Faust, Joseph Gagnon, Jaime Marquez, Robert F. Martin, Trevor Reeve, and John Rogers (2005). "Exchange Rate Pass-through to U.S. Import Prices: Some New Evidence," International Finance Discussion Papers 833. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (2005). "Estimating Elasticities for U.S. Trade in Services," International Finance Discussion Papers 836. Board of Governors of the Federal Reserve System (U.S.).
• Gust, Christopher, and Jaime Marquez (2004). "International Comparisons of Productivity Growth: The Role of Information Technology and Regulatory Practices," Labour Economics, vol. 11, no. 1, pp. 33-58.
• Ihrig, Jane, and Jaime Marquez (2004). "An Empirical Analysis of Inflation in OECD Countries," International Finance, vol. 7, no. 1, pp. 61-84.
• Marquez, Jaime (2004). "Productivity, Investment, and Current Accounts: Reassessing the Evidence," Review of World Economics/Weltwirtschaftliches Archiv, vol. 140, no. 2, pp. 282-301.
• Ihrig, Jane, and Jaime Marquez (2003). "An Empirical Analysis of Inflation in OECD Countries," International Finance Discussion Papers 765. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime, and Shing-Yi Wang (2003). "IT Investment and Hicks' Composite-Good Theorem: The U.S. Experience," International Finance Discussion Papers 767. Board of Governors of the Federal Reserve System (U.S.).
• Gust, Christopher, and Jaime Marquez (2002). "International Comparisons of Productivity Growth: The Role of Information Technology and Regulatory Practices," International Finance Discussion Papers 727. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (2002). "Estimating Trade Elasticities," in Boston; Dordrecht and London: Kluwer Academic, pp. 135.
• Marquez, Jaime (2002). "Productivity, Investment, and Current Accounts: Reassessing the Evidence," International Finance Discussion Papers 742. Board of Governors of the Federal Reserve System (U.S.).
• Gust, Christopher, and Jaime Marquez (2001). "International Comparisons of Productivity Growth: Recent Developments," Business Economics, vol. 36, no. 3, pp. 55-62.
• Marquez, Jaime, and Lisa Workman (2001). "Modeling the IMF's Statistical Discrepancy in the Global Current Account," IMF Staff Papers, vol. 48, no. 3, pp. 499-521.
• Gust, Christopher, and Jaime Marquez (2000). "Productivity Developments Abroad," Federal Reserve Bulletin, vol. 86, no. 10, pp. 665-681.
• Hooper, Peter, Karen Johnson, and Jaime Marquez (2000). Trade elasticities for the G-7 countriesPrinceton Studies in International Economics, no. 87. Princeton: Princeton University, Department of Economics, International Economics Section.
• Hooper, Peter, Karen Johnson, and Jaime Marquez, eds. (2000). Trade Elasticities for the G-7 Countries, Princeton Studies in International Economics vol. 87. Princeton, New Jersey: Princeton University, Department of Economics, International Economics Section.
• Marquez, Jaime, and Lisa Workman (2000). "Modeling the IMF's Statistical Discrepancy in the Global Current Account," International Finance Discussion Papers 678. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1999). "Long-Period Trade Elasticities for Canada, Japan, and the United States," Review of International Economics, vol. 7, no. 1, pp. 102-116.
• Edison, Hali J., and Jaime Marquez (1998). "US Monetary Policy and Econometric Modeling: Tales from the FOMC Transcripts 1984-1991," Economic Modelling, vol. 15, no. 3, pp. 411-428.
• Edison, Hali J., and Jaime Marquez (1998). "U.S. Monetary Policy and Econometric Modeling: Tales from the FOMC Transcripts 1984-1991," International Finance Discussion Papers 607. Board of Governors of the Federal Reserve System (U.S.).
• Ericsson, Neil R., and Jaime Marquez (1998). "A Framework for Economic Forecasting," Econometrics Journal, vol. 1, no. 1, pp. C228-66.
• Ericsson, Neil R., and Jaime Marquez (1998). "A Framework for Economic Forecasting," International Finance Discussion Papers 626. Board of Governors of the Federal Reserve System (U.S.).
• Hooper, Peter, Karen Johnson, and Jaime Marquez (1998). "Trade Elasticities for G-7 Countries," International Finance Discussion Papers 609. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1998). "Review of PcGive Professional 9.0 for Windows," Journal of Applied Econometrics, vol. 13, no. 4, pp. 411-420.
• Hooper, Peter, and Jaime Marquez (1995). "Exchange Rates, Prices, and External Adjustment in the United States and Japan," in Kenen, Peter,B. ed., Understanding Interdependence: The Macroeconomics of the Open Economy. Princeton: Princeton University Press, pp. 107-168.
• Marquez, Jaime (1995). "A Century of Trade Elasticities for Canada, Japan, and the United States," International Finance Discussion Papers 531. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1995). "Quantifying North-South Interdependencies with MCM Simulations," in Vines, ,David, Currie David eds., North-South Linkages and International Macroeconomic Policy. Cambridge; New York and Melbourne: Cambridge University Press, pp. 333-354.
• Helkie, William L., David H. Howard, and Jaime Marquez (1994). "International Economic Implications of the End of the Soviet Union," International Finance Discussion Papers 470. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1994). "Life Expectancy of International Cartels: An Empirical Analysis," Review of Industrial Organization, vol. 9, no. 3, pp. 331-341.
• Marquez, Jaime (1994). "Review of: Economic Activity, Trade, and Industry in the U.S.-Japan-World Economy: A Macro Model Study of Economic Interactions," Journal of Economic Literature, vol. 32, no. 3, pp. 1242-1243.
• Marquez, Jaime (1994). "The Constancy of Illusions Or the Illusion of Constancies: Income and Price Elasticities for U.S. Imports, 1890-1992," International Finance Discussion Papers 475. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1994). "The Econometrics of Elasticities Or the Elasticity of Econometrics: An Empirical Analysis of the Behavior of U.S. Imports," Review of Economics and Statistics, vol. 76, no. 3, pp. 471-481.
• Ericsson, Neil R., and Jaime Marquez (1993). "Encompassing the Forecasts of U.S. Trade Balance Models," Review of Economics and Statistics, vol. 75, no. 1, pp. 19-31.
• Hooper, Peter, and Jaime Marquez (1993). "Exchange Rates, Prices, and External Adjustment in the United States and Japan," International Finance Discussion Papers 456. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1993). "The Autonomy of Elasticities for Trade among Canada, Japan, and the United States," Japan and the World Economy, vol. 5, no. 3, pp. 179-195.
• Marquez, Jaime, and Neil R. Ericsson (1993). "Evaluating Forecasts of the U.S. Trade Balance," in Bryant, Ralph,C., Hooper Peter and Catherine Mann L. eds., Evaluating Policy Regimes: New Research in Empirical Macroeconomics. Washington: Brookings Institution, pp. 671-732.
• Marquez, Jaime (1992). "Life Expectancy of International Cartels: An Empirical Analysis," International Finance Discussion Papers 439. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1992). "Real Exchange Rates: Measurement and Implications for Predicting U.S. External Imbalances," International Finance Discussion Papers 427. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1992). "Spectral Estimation of Secular and Cyclical Elasticities for Bilateral Trade," Finnish Economic Papers, vol. 5, no. 2, pp. 91-97.
• Marquez, Jaime (1992). "The Autonomy of Trade Elasticities: Choice and Consequences," International Finance Discussion Papers 422. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1991). "The Dynamics of Uncertainty Or the Uncertainty of Dynamics: Stochastic J-Curves," Review of Economics and Statistics, vol. 73, no. 1, pp. 125-133.
• Marquez, Jaime (1991). "The Econometrics of Elasticities Or the Elasticity of Econometrics: An Empirical Analysis of the Behavior of U.S. Imports," International Finance Discussion Papers 396. Board of Governors of the Federal Reserve System (U.S.).
• Brayton, Flint, and Jaime Marquez (1990). "The Behavior of Monetary Sectors and Monetary Policy: Evidence from Multicountry Models," in Hooper, Peter ed., Financial Sectors in Open Economies: Empirical Analysis and Policy Issues. Washington: Board of Governors of the Federal Reserve System, pp. 365-393.
• Marquez, Jaime (1990). "Bilateral Trade Elasticities," Review of Economics and Statistics, vol. 72, no. 1, pp. 70-77.
• Marquez, Jaime, and Michael Mabry (1990). "Nominal Interest Rate Pegging Under Alternative Expectations Hypotheses: Appendix: Design of Model Simulations," in Hooper, Peter ed., Financial Sectors in Open Economies: Empirical Analysis and Policy Issues. Washington: Board of Governors of the Federal Reserve System, pp. 474-477.
• Marquez, Jaime, and Neil R. Ericsson (1990). "Evaluating the Predictive Performance of Trade-Account Models," International Finance Discussion Papers 377. Board of Governors of the Federal Reserve System (U.S.).
• Ericsson, Neil R., and Jaime R. Marquez (1989). "Exact and Approximate Multi-Period Mean-Square Forecast Errors for Dynamic Econometric Models," International Finance Discussion Papers 348. Board of Governors of the Federal Reserve System (U.S.).
• Helkie, W., Andrew Hughes Hallett, and Jaime Marquez (1989). "Protectionism and the US Trade Deficit: An Empirical Analysis," CEPR Discussion Papers 286. Centre for Economic Policy Research.
• Marquez, Jaime (1989). "Income and Price Elasticities of Foreign Trade Flows: Econometric Estimation and Analysis of the U.S. Trade Deficit," in Klein, Lawrence,R., Jaime Marquez eds., Economics in Theory and Practice: An Eclectic Approach Essays in Honor of F. G. Adams. Boston; Dordrecht and London: Kluwer Academic, pp. 129-176.
• Marquez, Jaime, and L. Klein (1989). Economics in theory and practice. Dordrecht: Kluwer Academic Publishers.
• Marquez, Jaime (1988). "Cyclical and Secular Trade Elasticities: An Application to LDC Exports," Journal of Economic Dynamics and Control, vol. 12, no. 1, pp. 71-76.
• Marquez, Jaime (1988). "Income and Price Elasticities of Foreign Trade Flows: Econometric Estimation and Analysis of the U.S. Trade Deficit," International Finance Discussion Papers 324. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1988). "International Policy Coordination and the Reduction of the U.S. Trade Deficit," Journal of Economic Dynamics and Control, vol. 12, no. 1, pp. 19-25.
• Marquez, Jaime (1988). "The Dynamics of Uncertainty Or the Uncertainty of Dynamics: Stochastic J-Curves," International Finance Discussion Papers 335. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime, and Caryl McNeilly (1988). "Income and Price Elasticities for Exports of Developing Countries," Review of Economics and Statistics, vol. 70, no. 2, pp. 306-314.
• Marquez, Jaime, and Garry J. Schinasi (1988). "Measures of Money and the Monetary Model of the Canadian-U.S. Dollar Exchange Rate," Economics Letters, vol. 26, no. 2, pp. 183-188.
• Edison, Hali J., Jaime R. Marquez, and Ralph W. Tryon (1987). "The Structure and Properties of the Federal Reserve Baord Multicountry Model," Economic Modelling, vol. 4, no. 2, pp. 115-315.
• Marquez, Jaime (1987). "Money Demand in Open Economies: A Currency Substitution Model for Venezuela," Journal of International Money and Finance, vol. 6, no. 2, pp. 167-178.
• Marquez, Jaime, and Janice Shack-Marquez (1987). "Financial Concentration and Development: An Empirical Analysis of the Venezuelan Case," International Finance Discussion Papers 300. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R. (1987). "Money Demand in Open Economies: A Divisia Application to the U.S Case," in Barnett, William,A., Kenneth Singleton J. eds., New Approaches to Monetary Economics: Proceedings of the Second International Symposium in Economic Theory and Econometrics. Cambridge; New York and Melbourne: Cambridge University Press, pp. 183-199.
• Marquez, Jaime R., and Peter Pauly (1987). "International Policy Coordination and Growth Prospects of Developing Countries: An Optimal Control Application," Journal of Development Economics, vol. 25, no. 1, pp. 89-104.
• Edison, Hali J., and Jaime Marquez (1986). "Optimal Crawling Peg in Venezuela: An Optimal Control Application," Journal of Economic Dynamics and Control, vol. 10, no. 1/2, pp. 201-204.
• Edison, Hali J., Jaime R. Marquez, and Ralph W. Tryon (1986). "The Structure and Properties of the FRB Multicountry Model.Part I: Model Description and Simulation Results," International Finance Discussion Papers 293. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1986). "Oil-Price Effects in Theory and Practice," Journal of Development Economics, vol. 24, no. 1, pp. 1-27.
• Marquez, Jaime (1986). "The International Transmission of Oil-Price Effects and OPEC's Pricing Policy," Journal of economics and business, vol. 38, no. 3, pp. 237-253.
• Marquez, Jaime, and Peter Pauly (1986). "Cooperative Policies among the North, the South, and OPEC: An Optimal Control Application," Economic Modelling, vol. 3, no. 3, pp. 213-236.
• Marquez, Jaime, and Peter Pauly (1986). "Policy Coordination among the North, the South, and OPEC," Journal of Economic Dynamics and Control, vol. 10, no. 1/2, pp. 59-62.
• Marquez, Jaime R., and Caryl McNeilly (1986). "Can Debtor Countries Service their Debts? Income and Price Elasticities for Exports of Developing Countries," International Finance Discussion Papers 277. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1985). "Foreign Exchange Constraints and Growth Possibilities in the LDCs," Journal of Development Economics, vol. 19, no. 1-2, pp. 39-57.
• Marquez, Jaime (1985). Econometrics and economic theory. Oxford: Basil Blackwell.
• Marquez, Jaime, Janice Shack-Marquez, and William Wascher (1985). "Statistical Inference, Model Selection and Research Experience: A Multinomial Model of Data Mining," Economics Letters, vol. 18, no. 1, pp. 39-44.
• Marquez, Jaime R. (1985). "Currency Substitution and the New Divisia Monetary Aggregates : The U. S. Case," International Finance Discussion Papers 257. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R. (1985). "Money Demand in Open Economies : A Currency Substitution Model for Venezuela," International Finance Discussion Papers 265. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R. (1985). "The International Transmission of Oil Price Effects and OPEC's Pricing Policy," International Finance Discussion Papers 256. Board of Governors of the Federal Reserve System (U.S.).
• Adams, F. Gerard, and Jaime Marquez (1984). "Petroleum Price Elasticity, Income Effects, and OPEC's Pricing Policy," Energy Journal, vol. 5, no. 1, pp. 115-128.
• Marquez, Jaime (1984). Oil price effects and OPEC's pricing policy: An optimal control approach. D.C. Heath: Lexington Books.
• Marquez, Jaime (1984). "Sustitucion De Monedas, Dualidad e Indeterminacion Del Tipo De Cambio: Analisis Empirico De La Experiencia Venezolana. (with English Summary.)," Cuadernos de Economia (Pontifical Catholic University of Chile), vol. 21, no. 64, pp. 299-313.
• Marquez, Jaime, and Peter Pauly (1984). "OPEC's Pricing Policy and the International Transmission of Oil Price Effects," Energy Economics, vol. 6, no. 4, pp. 267-275.
• Marquez, Jaime R. (1984). "Currency Substitution, Duality, and Exchange Rate Indeterminacy : An Empirical Analysis of the Venezuelan Experience," International Finance Discussion Papers 242. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R. (1984). "Foreign Exchange Constraints and Growth Possibilities in LDCs," International Finance Discussion Papers 251. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R. (1984). "Oil Price Effects in Theory and Practice," International Finance Discussion Papers 237. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R., and Peter Pauly (1984). "Cooperative Policies among the North, the South, and OPEC : An Optimal Control Approach," International Finance Discussion Papers 247. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime R., and Peter Pauly (1984). "Oil Prices, Welfare Tradeoffs, and International Policy Coordination : An Optimizing Approach," International Finance Discussion Papers 241. Board of Governors of the Federal Reserve System (U.S.).
• Marquez, Jaime (1983). "A Proposition on Short-Run Departures from the Law-of-One-Price: An Extension," European Economic Review, vol. 23, no. 1, pp. 99-101.
• Marquez, Jaime R. (1983). "The International Transmission of Oil Price Effects," International Finance Discussion Papers 229. Board of Governors of the Federal Reserve System (U.S.).

Presentations

• seminar

  January 2012

  International Monetary Fund

  International Relative Price Levels: Measurement and Applications

• seminar

  May 2012

  Division of International Finance, Federal Reserve Board

  International Relative Price Levels: Measurement and Applications

• conference

  January 2012

  Day-Ahead Conference, Federal Reserve Bank of Chicago

  Foreign Holdings of U.S. Treasuries and U.S. Treasury Yields

• seminar

  November 2011

  Division of International Finance, Federal Reserve Board

  Overnight Interest Rates and Reserve Balances: Econometric Modeling of Exit Strategies

• conference

  November 2011

  Federal Reserve Bank of Cleveland

  Overnight Interest Rates and Reserve Balances: Econometric Modeling of Exit Strategies

• conference

  March 2012

  11th OxMetrics User Conference/George Washington University

  Overnight Interest Rates and Reserve Balances: Econometric Modeling of Exit Strategies

• seminar

  November 2012

  Division of International Finance, Federal Reserve Board

  The Creation and Evolution of the Division of International Finance of the Federal Reserve Board

• seminar

  February 2013

  U.S. Department of Treasury

  The Creation and Evolution of the Division of International Finance of the Federal Reserve Board

Other Activities