Recent Research Interests

My research interests lie mainly in the fields of international finance and international macroeconomics. While we live in an era of so-called globalizing economy, there are various puzzles and anomalies regarding how markets are organized and prices function to allocate resources across countries. To better understand them, I have conducted empirical research on real exchange rate dynamics, currency misalignment, and real and financial market integration.

Selected Publications

  • “The Penn Effect within a Country: Evidence from Japan” (with Yin-Wong Cheung) Oxford Economic Papers, v. 66, pp. 1070-1089, October 2014.
  • “China’s Current Account and Exchange Rate” (with Yin-Wong Cheung and Menzie. Chinn) in Robert Feenstra and Shiang-Jin Wei (eds.) China’s Growing Role in World Trade, University of Chicago Press for NBER, pp. 231-280, April 2010.
  • “The Overvaluation of Renminbi Undervaluation” (with Yin-Wong Cheung and Menzie Chinn) Journal of International Money and Finance, v. 26, n. 5, September 2007, pp. 762-85.
  • “Intra and Inter-Regional Causal Linkages of Emerging Stock Markets: Evidence from Asia and Latin America in and out of Crises” Journal of International Financial Markets, Institutions & Money, v. 15, n. 4, October 2005, pp. 315-342.
  • “Exchange Rate and Price Adjustments in the Aftermath of the Asian Crisis” International Journal of Finance & Economics, v. 7, n. 1, January 2002, pp. 1-14.
  • “A Note on the Power of Money-Output Causality Tests” (with Yin-Wong Cheung) Oxford Bulletin of Economics and Statistics, v. 63, n. 2, May 2001, pp. 247-261.

Further Information