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 and politically active
firms, by examining changes in firm value subsequent to the politician's sudden
death, and by studying portfolios of lobbying firms. 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. 



Gauging Exchange Rate Targeting (with Helen Popper), Journal of International Money and Finance (2014)

In this paper, we examine whether a monetary authority targets the exchange rate, per se,...



Slow Passthrough Around the World: A New Import for Developing Countries? (with Jeffrey A. Frankel and Shang-jin Wei), Open Economies Review (2012)

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



Exchange Rate Pass-through in South Africa, Journal of Development Studies (2012)

and homogenous imports. Estimated pass-through to consumer goods prices is low, roughly 16 percent in...



The Quality of Accounting Information in Politically Connected Firms (with Paul Chaney and Mara Faccio), Journal of Accounting and Economics (2011)

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



Understanding Real Exchange Rate Movements with Trade in Intermediate Products (with Helen Popper), Pacific Economic Review (2010)

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


Unpublished Papers


Corporate Lobbying and Firm Performance (with Hui Chen and Ya-Wen Yang), Forthcoming Papers (2014)

Corporate lobbying activities are designed to influence legislators, regulators, and courts, presumably to encourage favorable...



How Big and Heterogeneous are the Effects of Currency Arrangements on Market Integration? A Price Based Approach (with Shang-Jin Wei) (2003)

A rapidly expanding literature studies the effect of currency union and other exchange rate arrangements...