I am a professor at the Owen Graduate School of Management at Vanderbilt University,
where I teach courses in International Finance, Macroeconomics, and International
Business. Most of my research uses panels of individual goods price data to study
macroeconomic and international finance topics such as PPP, exchange rate pass-through,
and goods market integration. I have also looked at the transmission of news across
national borders using bond market prices, and individual portfolio flows. Most recently,
I have studied the characteristics of firms favored by politicians, by examining changes
in firm value subsequent to the politician's sudden death. NOTE: Some links are to
sites that require permission or a subscription (such as SSRN). A university or public
library should be able to help you with access, if needed. 

Articles

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In Search of a Euro Effect: Big Lessons from a Big Mac Meal? (with Shang-Jin Wei), Journal of International Money and Finance (2008)

We investigate whether the adoption of the euro was accompanied by an increase in prices...

 

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Accounting For Real Exchange Rates in East Asia, Journal of International Money and Finance (2007)

This study measures the proportion of real exchange rate movements that can be accounted for...

 

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Measuring financial integration via idiosyncratic risk: what effects are we really picking up? (with Christian Schlag), Journal of Money, Credit, and Banking (2007)

We study the method proposed by Flood and Rose (FR, 2004, 2005) for checking for...

 

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A Prism into the PPP Puzzles: The Micro-foundations of Big Mac Real Exchange Rates (with Shang-Jin Wei), Economic Journal (2007)

We match Big Mac prices with prices of its ingredients as a unique prism to...

 

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Accounting for Real Exchange Rate Changes in East Asia, Journal of International Money and Finance (2007)

This study measures the proportion of real exchange rate movements that can be accounted for...

 

Unpublished Papers

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Corporate Lobbying and Financial Performance (with Hui Chen and Ya-Wen Yang) (2008)

Corporate lobbying activities are designed to influence legislators and thus to further corporate goals by...

 

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The Quality of Accounting Information in Politically Connected Firms (with Paul Chaney and Mara Faccio) (2007)

Recent studies have documented systematic exchanges of favors between politicians and firms, and that connected...

 

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Sudden Deaths: Taking Stock of Political Connections (with Mara Faccio) (2006)

Many firms voluntarily incur the costs of attempting to influence politicians. However, estimates of the...

 

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Understanding Real Exchange Rate Movements with Trade in Intermediate Products (with Helen Popper) (2006)

This paper reexamines decompositions of the real exchange rate that apportion its movements into a...

 

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Slow Passthrough Around the World: A New Import for Developing Countries? (with Jeffrey A. Frankel and Shang-jin Wei) (2005)

Developing countries traditionally experience passthrough of exchange rate changes that is greater and more rapid...