This section is organized with recent working papers and projects at the top, followed by sections with all papers and books organized by research theme and publication date.
Working Papers and Recent Projects
Papers Grouped by Research Theme
(click on heading to jump to section)
Monetary Policy, Rate Cycles and Inflation
Capital Flow Waves and Global Imbalances
Contagion, Global Linkages and the Spread of Financial Crises
Macroprudential Regulation and Capital Controls
Exchange Rates and Pass-through
Policy Responses, Globalization, Inequality and other Topics
Working Papers and Recent Projects
- The Art of Monetary Policy: Lessons from Sun Tzu for Central Banks (2026). Karl Brunner Distinguished Lecture, Swiss National Bank.
- Summary in Ideas Made to Matter
- MIT-Sloan’s Thinking Forward: “The Art of Central Banking: Ancient Lessons for Today’s Financial System”
- Central Banking interview on book: “Kristin Forbes on `Wargaming’ for the Next Crisis”
- Book Review: Book notes: The art of monetary policy: lessons from Sun Tzu for central banks, by Kristin Forbes - Central Banking
- Working paper (with color figures): CEPR Discussion Paper #19905 (2025)
- Slides from lecture at ETH Zurich (10/03/24)
- Link to Introduction by Martin Schlegel, Chairman of the Governing Board
- Link to video of Karl Brunner Distinguished Lecture (10/03/24)
- Unraveling the Cobweb of Global Imbalances: Drivers, Vulnerabilities and Adjustment Scenarios (2026), joint with Stefan Avdjiev, Tsvetelina Nenova, and Marjorie Santos. Preliminary draft.
- Selected press mentions: Wall Street Journal (06/11/26)
- Heaven or Earth? The Evolving Role of Global Shocks for Domestic Monetary Policy (2026), joint with Jongrim Ha and M. Ayhan Kose. Forthcoming, Journal of Political Economy: Macroeconomics
- Related VoxEU blog, “From Earth to Heaven: The Changing Drivers of Monetary Policy” (3/11/26)
- Also available as CEPR Working paper #DP21109 and NBER Working Paper #34806
- Selected press mentions: Central banking (02/10/26)
- Convergence, Divergence, and a Divergent: Monetary Policy and Global Imbalances (2026), paper prepared for Annual AlUla Conference for Emerging Market Economies, in AlUla, Kingdom of Saudi Arabia on Feb. 8-9.
- Overview of conference, Clip of session and Full video of presentation
- Selected press mentions: Financial Times (02/20/25)
- Tradeoffs over Rate Cycles: Activity, Inflation and the Price Level (2026), joint with Jongrim Ha and Ayhan Kose. NBER Macroeconomics Annual, volume 40(1), pp. 191- 277.
- Related VoxEU blog, “The Post-Pandemic Disinflation: Low Sacrifice, High Prices” (7/28/25)
- Summary in NBER Digest (09/01/25)
- Database with Dates of Rate Cycles (stata file)
- Zip file with program and data to replicate dates and statistics for Rate Cycles, including a Read me document with information and graphs with the Rate Cycles for each economy
- Earlier versions: MIT Sloan Working Paper #7269-25, NBER Working Paper #33825 and CEPR Discussion Paper #20240
- Slides from NBER presentation at NBER Macroannual Conference (April 2025)
- Summaries and links to related press: Devdiscourse, Central Banking, op-ed in Financial Times
- Quantitative Tightening Around The Globe: What Have We Learned? (2024) with Wenxin Du and Matthew Luzzetti. Forthcoming, Journal of International Money and Finance.
- Op-ed: The Data is In: How QT Impacts Markets, Financial Times, (03/04/24)
- Data and Code on QT events and central bank balance sheets
- Database of QT events database
- Data, Code and information to replicate information on central bank balance sheets
- Longer versions available as NBER Working Paper #32321 and CEPR Discussion Paper #19626
- Selected press mentions: MNI (03/01/24), Reuters (03/02/24), Financial Times (03/04/24), Financial Times (08/12/25)
- Conference presentation slides from US Monetary Policy Forum (March 2024)
Monetary Policy, Rate Cycles and Inflation
- The Art of Monetary Policy: Lessons from Sun Tzu for Central Banks (2026). Karl Brunner Distinguished Lecture, Swiss National Bank.
- Summary in Ideas Made to Matter
- Central Banking interview on book: "Kristin Forbes on `Wargaming’ for the Next Crisis”
- Book Review: Book notes: The art of monetary policy: lessons from Sun Tzu for central banks, by Kristin Forbes - Central Banking
- Working paper (with color figures): CEPR Discussion Paper 19905 (2025)
- Slides from lecture at ETH Zurich (10/03/34)
- Link to Introduction by Martin Schlegel, Chairman of the Governing Board
- Link to video of Karl Brunner Distinguished Lecture (10/03/34)
- Heaven or Earth? The Evolving Role of Global Shocks for Domestic Monetary Policy (2026), joint with Jongrim Ha and M. Ayhan Kose. Forthcoming, Journal of Political Economy: Macroeconomics
- Related VoxEU blog, “From Earth to Heaven: The Changing Drivers of Monetary Policy” (03/11/26)
- Also available as CEPR Working paper #DP21109 and NBER Working Paper #34806
- Selected press mentions: Central banking (02/10/26)
- Quantitative Tightening Around The Globe: What Have We Learned? (2024) with Wenxin Du and Matthew Luzzetti. Forthcoming, Journal of International Money and Finance.
- Op-ed: The Data is In: How QT Impacts Markets, Financial Times (03/04/24)
- Data and Code on QT events and central bank balance sheets
- Database of QT events database
- Data, Code and information to replicate information on central bank balance sheets
- Longer versions available as NBER Working Paper #32321 and CEPR Discussion Paper #19626
- Selected press mentions: MNI (03/01/24), Reuters (03/02/24), Financial Times (03/04/24), Financial Times (08/12/25)
- Conference presentation slides from US Monetary Forum (March 2024)
- Tradeoffs over Rate Cycles: Activity, Inflation and the Price Level (2026), joint with Jongrim Ha and Ayhan Kose. NBER Macroeconomics Annual, volume 40(1), pp. 191- 277.
- Related VoxEU blog, “The Post-Pandemic Disinflation: Low Sacrifice, High Prices” (07/28/25)
- Summary in NBER Digest (09/01/25)
- Database with Dates of Rate Cycles (stata file)
- Zip file with program and data to replicate dates and statistics for Rate Cycles, including a Read me document with information and graphs with the Rate Cycles for each economy
- Earlier versions: MIT Sloan Working Paper #7269-25, NBER Working Paper #33825 and CEPR Discussion Paper #20240
- Slides from NBER presentation at NBER Macroannual Conference (April 2025)
- Summaries and links to related press: Devdiscourse, Central Banking, op-ed in Financial Times
- Rate Cycles (2024) with Jongrim Ha and M. Ayhan Kose. In Monetary Policy in an Era of Transformation, ECB Forum in Central Banking in Sintra, Portugal.
- For dataset on Rate Cycles and related data, see entry for Tradeoffs over Rate Cycles: Activity Inflation and the Price Level
- Slides from conference presentation at the ECB Forum at Sintra (July 2024)
- Other versions: MIT Sloan Working Paper #7185-24 and CEPR Working Paper DP19272 (2024)
- Related VoxEU blog, “Demand versus Supply: Drivers of the Post-Pandemic Inflation and Interest Rates” (08/09/2024)
- Monetary Policy Response to the Post-Pandemic Inflation (2024) with Bill English and Ángel Ubide.
- Press release and Overview and full CEPR book
- Link to a VoxEU article (02/14/21)
- Link to a FT article on the book (02/20/24)
- Monetary Policy and Central Banking in the Covid Era (2021) with Bill English and Ángel Ubide.
- Overview and full CEPR ebook.
- Link to a Vox-EU article (06/03/21)
- Replacing the Golden Anchor for Price Stability (2024), in Douglas Irwin, Maurice Obstfeld and Adam Posen, eds. Floating Exchange Rates at Fifty. Peterson Institute for International Economics (April), chapter 16.
- Conference version of paper
- Slides from conference
- Click here to access data for replication files for chapters
- Low Inflation Bends the Phillips Curve Around the World (2022) with Joseph Gagnon and Christopher Collins. Economia vol. 45 (89): 52-72.
- Low Inflation Bends the Phillips Curve Around the World: Extended Results, Peterson Institute for International Economics Working Paper 21-15, Sept. 2021.
- Also available as NBER Working Paper #29323 (Oct. 2021), CEPR Discussion Paper #16583 (Sept. 2021), MIT Sloan Working Paper #6101-20 (May 2020), Low Inflation Bends the Phillips Curve Around the World (Old Version), Peterson Institute for International Economics Working Paper 20-6, March 2020.
- Click here for the replication folder with underlying data, code and output files.
- Selected press mentions: Central Banking (06/04/2020).
- Inflation Dynamics: Dead, Dormant, Or Determined Abroad? (2019) Brookings Papers on Economic Activity, Fall, 257-338.
- Summary of paper for conference
- Directions to replicate the results in the paper, source data and program code.
- Also available as MIT Sloan Working Paper #5893-19 and NBER Working Paper #26496.
- Selected press mentions: Economist (10/10/19), Economist (06/30/18), Central Banking (09/23/19), Axios (09/06/19), Brookings Blog (09/05/19).
- A Trendy Approach to UK Inflation Dynamics (2019) with Lewis Kirkham and Konstantinos Theodoridis. The Manchester School, July: 1-53.
- Also available as: CEPR Discussion Paper #DP12652 (2018) and Bank of England External MPC Unit Discussion Paper #49 (2017)
- Selected press mentions, Central Banking (6/20/17), Bloomberg (06/19/17)
- Has Globalization Changed the Inflation Process? (2019) BIS Working Papers #297, July. Paper prepared for 17th BIS Annual Research Conference held in Zurich on June 22, 2018.
- Much Ado about Something Important: How do Exchange Rate Movements Effect Inflation (2016) The Manchester School 84 (S1, Sept.): pgs. 15-41.
Capital Flow Waves and Global Imbalances
- Unraveling the Cobweb of Global Imbalances: Drivers, Vulnerabilities and Adjustment Scenarios (May 2026), joint with Stefan Avdjiev, Tsvetelina Nenova, and Marjorie Santos. Preliminary draft.
- Selected press mentions: Wall Street Journal (06/11/26)
- Convergence, Divergence, and a Divergent: Monetary Policy and Global Imbalances (January 2026), paper prepared for Annual AlUla Conference for Emerging Market Economies, in AlUla, Kingdom of Saudi Arabia on Feb 8-9.
- Overview of conference, Clip of session and Full video of presentation
- Selected press mentions: Financial Times (02/20/25)
- Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle (2022) with Anusha Chari and Karlye Dilts-Stedman. Journal of International Economics vol. 136 (May)
- Also available as NBER Working Paper #29670, CEPR Working Paper #116889, and Federal Reserve Bank of Kansas City Working Paper #21016.
- Capital Flow Waves—Or Ripples? Extreme Capital Flow Movements Since the Crisis (2021) with Francis Warnock. Journal of International Money and Finance 116 (Sept).
- Data and Replication information:
- Basic information on the available datasets.
- Capital flow data (Feb. 2021).
- Updated list of capital flow episodes (Feb. 2021).
- Control variables used in the analysis (Feb. 2021).
- More details on the variable definitions and sources (Feb. 2021).
- Earlier version: NBER Working Paper #26851 (March).
- Data and Replication information:
- Do Sounder Banks Make Calmer Waters? The Link Between Bank Regulations and Capital Flow Waves. (2020).AEA: Papers and Proceedings, Vol. 110 (May) 516-622.
- Zip file with replication code and data.
- Current Account Deficits During Heightened Risk: Menacing or Mitigating? (2017) with Ida Hjortsoe and Tsvetelina Nenova. Economic Journal 127 (601): 571-623.
- Dataset for paper
- Older version available as: MIT Sloan Working Paper #5167-16, External MPC Unit Discussion Paper 46, and NBER Working Paper #22741.
- Interview after Keynote lecture at Royal Economic Society Annual Conference (2016)
- Capital Flow Volatility and Contagion: A Focus on Asia (2014), in Bruno Carrasco, Subir Gokarn, and Hiranya Mukhopadhyay, eds., Managing Capital Flows: Issues in Selected Emerging Market Economics, Oxford University Press: New Delhi, pgs.3-31.
- Older version: MIT Sloan Working Paper #4979-12
- Debt- and Equity-Led Capital Flow Episodes (2014) with Francis Warnock. In Miguel Fuentes, Claudio Raddatz and Carmen M. Reinhart, eds. Capital Mobility and Monetary Policy. Santiago: Central Bank of Chile: Santiago, pgs. 291-322.
- Older version: NBER Working Paper #18329.
- Capital Flow Waves: Surges, Stops, Flight and Retrenchment (2012) with Francis Warnock. Journal of International Economics 88 (2) Nov: 235-251.
- Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act (2011) with Dhammika Dharmapala and Fritz Foley. Journal of Finance 66 (3, June): pgs. 753-787.
- Why do Foreigners Invest in the United States? (2010) Journal of International Economics 80(1): 3-21. Lead Article.
- Summary in NBER digest
- Earlier versions available: MIT Sloan Working Paper #5701-08 and NBER Working Paper #13908.
- Press mentions: Economist (10/03/08), NBER Digest (08/08/08), Wall Street Journal (06/23/08), U.S. News and World Report, and CNBC Morning Call.
- Capital Flows to Emerging Markets: The Myths and Realities, joint with Bill Block. Paper presented at conference: "The Myths and Realities of Globalization" at the Federal Reserve Bank of Dallas, November. (2004)
Contagion, Global Linkages and the Spread of Financial Crises
- Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle (2022) with Anusha Chari and Karlye Dilts-Stedman. Journal of International Economics vol. 136 (May).
- Also available as NBER Working Paper #29670, CEPR Working Paper #116889, and Federal Reserve Bank of Kansas City Working Paper #21016.
- The Spillovers, Interactions, and (Un)intended Consequences of Monetary and Regulatory Policies (2017) with Dennis Reinhardt and Tomas Wieladek. Journal of Monetary Economics 85 (Jan), pgs. 1-22.
- Bubble Thy Neighbor: Direct and Spillover Effects of Capital Controls (2016) with Marcel Fratzscher, Thomas Kostka and Roland Straub. Journal of International Economics 99 (March), pgs. 85-104.
- Earlier versions: MIT Sloan Working Paper #4962-12 and NBER Working Paper #18052.
- Selected Press Mentions: The Economist (10/06/12), Central Banking (08/13/12), Financial Times (01/23/12).
- Pick Your Poison: The Choices and Consequences of Policy Responses to Crises (2015) with Michael Klein. IMF Economic Review 63 (April), pgs.197-237.
- Earlier versions: MIT Sloan Working Paper #5062-13 and NBER Working Paper #20987.
- Capital Flow Volatility and Contagion: A Focus on Asia (2014), in Bruno Carrasco, Subir Gokarn, and Hiranya Mukhopadhyay, eds., Managing Capital Flows: Issues in Selected Emerging Market Economics, Oxford University Press: New Delhi, pgs. 3-31.
- Earlier versions: MIT Sloan Working Paper #4979-12
- The "Big C": Identifying and Mitigating Contagion (2013). The Changing Policy Landscape. 2012 Jackson Hole Symposium hosted by the Federal Reserve Bank of Kansas City, pgs. 23-87.
- Selected Press Mentions: Bloomberg (08/31/12), Reuters (08/31/12), Wall Street Journal (08/31/12), Financial Times (08/31/12), The Economist (06/16/12).
- Symposia on The Global Financial Crisis (2012)
- Click here for a summary of the research, with Charles Engel and Jeffrey Frankel
- Click here for the symposia of papers published in the Journal of International Economics (Vol. 88 (2), Nov., 2012)
- Click here for a link to the conference papers, attendees, datasets and additional information from the conference held in Bretton Woods, NH on June 3-4, 2011
- Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises (2008), with Mihir Desai and C. Fritz Foley. Review of Financial Studies 21 (6), pgs. 2857-2888.
- Runner-up for Michael Brennan Award for Best Paper Published in 2008.
- Earlier version: NBER Working Paper #10545
- Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia, with Tilak Abeysinghe (2005). Review of International Economics 13 (2), pgs. 356-375.
- Earlier version: NBER Working Paper #8600
- Symposium on Global Linkages (2004) edited with Robin Brooks and Ashoka Mody, published in the Review of Economics and Statistics Vol. 86 (3), August, 2004
- Click here for a summary of some papers (with Robin Brooks, Jean Imbs and Ashoka Mody) from the conference held at the IMF in Washington, D.C., on Jan. 30-31, 2003
- A Decomposition of Global Linkages in Financial Markets Over Time, with Menzie Chinn (2004). Review of Economics and Statistics, 86 (3) August: pgs. 705-722.
- Summary in NBER Digest
- Dataset Information (pdf)
- Factor Model Dataset (zipped stata)
- Bilateral Linkage Model Dataset (zipped stata)
- Earlier version: NBER Working Paper #9555
- The Asian Flu and Russian Virus: The International Transmission of Crises in Firm-Level Data (2004). Journal of International Economics , vol. 63 (1), May: pgs. 59-92.
- Earlier version: NBER Working Paper #7807
- Cheap Labor Meets Costly Capital: The Impact of Devaluations on Commodity Firms (2002). Journal of Development Economics, 69 (2) December: pgs. 335-365.
- Earlier version: NBER Working Paper #9053
- How do Large Depreciations Affect Firm Performance? (2002). IMF Staff Papers, 49, pgs. 214-238. Blank
- Earlier version: NBER Working Paper #9095
- Are Trade Linkages Important Determinants of Country Vulnerability to Crises? (2002). In Sebastian Edwards and Jeffrey Frankel, eds., Preventing Currency Crises in Emerging Markets. University of Chicago Press, Chicago, pgs. 77-124.
- No Contagion, Only Interdependence: Measuring Stock Market Comovements (2002), joint with Roberto Rigobon. Journal of Finance, LVII (5) October: pgs. 2223-2261.
- Earlier version: NBER Working Paper #7267
- Contagion in Latin America: Definitions, Measurement and Policy Implications (2001), joint with Roberto Rigobon. Economia, 1 (2) Spring: pgs. 1-46.
- Earlier version: NBER Working Paper #7885
- Measuring Contagion: Conceptual and Empirical Issues (2001), joint with Roberto Rigobon. Chapter 3 in International Financial Contagion, edited by Stijn Claessens and Kristin J. Forbes. Kluwer Academic Publishers, pgs. 43-66.
- International Financial Contagion (2001), edited by Stijn Claessens and Kristin J. Forbes. Kluwer Academic Publishers: New York.
- Click here for the introductory/overview chapter by Claessens and Forbes
Macroprudential Regulation and Capital Controls
- Stress Relief?: Funding Structures and Resilience to the Covid Shock (2023) with Christian Friedrich and Dennis Reinhardt, Journal of Monetary Economics vol. 137 (July): 47-81.
- Online Appendices for published paper
- Blog on VoxEU, Funding Structures and Resilience to Shocks after a Decade of Regulatory Reform (June 29, 2023)
- Also available as: NBER Working Paper #31255 (May 2023), CEPR Working Paper DP #17852 (Jan. 2023), MIT Sloan Working Paper #6976-22 (Nov. 2022), Bank of England Staff Working Paper #1003 (Nov. 2022)
- Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle (2022) with Anusha Chari and Karlye Dilts-Stedman. Journal of International Economics vol. 136 (May).
- Macroprudential Policy during COVID: The Role of Policy Space (2022) with Katharina Bergant. In Macro-financial Stability Policy in a Globalised World, Chapter 4.
- The International Aspects of Macroprudential Policy (2021). Annual Review of Economics, 13 (August): 203-228.
- Macroprudential FX Regulations: Shifting the Snowbanks of FX Vulnerability? (2021) with Toni Ahnert, Christian Friedrich, and Dennis Reinhardt. Journal of Financial Economics 140 (1), (April): 145-174. Also available as
- Summary in NBER Digest (2018)
- Data and code for paper
- Also available as: NBER Working Paper #25083, and CEPR Discussion Paper #DP12766.
- Do Sounder Banks Make Calmer Waters? The Link Between Bank Regulations and Capital Flow Waves. (2020). American Economic Review: AEA Papers and Proceedings, Vol. 110 (May): pgs. 516-622.
- Download the zip file with code and data.
- Macroprudential Policy: What We Know, Don’t Know and Need to Do (2019). American Economic Review: AEA Papers and Proceedings 109 (2019): pgs. 470-475.
- Macroprudential Policy After the Crisis: Forging a Thor's Hammer for Financial Stability in Iceland (2018). Report prepared at the request of the Government of Iceland Task Force to review monetary and currency policies for Iceland.
- The Spillovers, Interactions, and (Un)intended Consequences of Monetary and Regulatory Policies (2017) with Dennis Reinhardt and Tomas Wieladek. Journal of Monetary Economics 85 (Jan.): pgs. 1-22.
- Bubble Thy Neighbor: Direct and Spillover Effects of Capital Controls (2016) with Marcel Fratzscher, Thomas Kostka and Roland Straub. Journal of International Economics 99 (March): pgs. 85-104.
- Earlier versions: MIT Sloan Research Paper #4962-12 and NBER Working Paper #18052.
- Selected Press Mentions: The Economist (10/06/12), Central Banking (08/13/12), Financial Times (01/23/12).
- Capital Flow Management Measures: What are They Good For? (2015) with Marcel Fratzscher, Thomas Kostka, and Roland Straub. Journal of International Economics 96 (1), (July): pgs. S76-S97.
- Earlier versions: MIT Sloan Working Paper #5061-13 and NBER Working Paper #20860.
- One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms. (2007) Journal of International Economics, vol. 71 (2), (April): pgs. 294-323.
- Earlier version: NBER Working Paper #9777.
- The Microeconomic Evidence on Capital Controls: No Free Lunch (2007). In Sebastian Edwards, ed. Capital Controls and Capital Flows in Emerging Economics: Policies, Practices, and Consequences. Chicago: University of Chicago Press, pgs. 171-199.
- Early version: NBER Working Paper #11372.
Exchange Rates and Pass-through
- International Evidence on Shock-Dependent Exchange Rate Pass-Through (2020) with Ida Hjortsoe and Tsvetelina Nenova. IMF Economic Review 68: 721-763.
- Data replication files (07/20/20)
- Earlier versions available: CEPR Discussion Paper No. DP15242 (Sept. 2020), NBER Working Paper #27746 (Aug 2020), MIT Sloan Research Paper #5522-18 (Sept. 2018)
- Longer version called "Shocks versus Structure: Explaining Differences in Exchange Rate Pass-Through across Countries and Time."Bank of England External MPC Unit Discussion Paper #50 (June 2017)
- The Shocks Matter: Improving Our Estimates of Exchange Rate Pass-Through (2018) with Ida Hjortsoe and Tsvetelina Nenova. Journal of International Economics 114 (Sept.): pgs. 255-275.
- Summary in Ideas Made to Matter (04/10/18)
- Data and replication files
- Online Appendix
- Earlier versions available as: NBER Working Paper #24773 (2018), CEPR Discussion Paper #DP13037 (2018), MIT-Sloan Working Paper #5149-15 (2015) and Bank of England External MPC Unit Discussion Paper #43 (2015).
- Selected press mentions: Financial Times (07/08/16), Economist (09/23/16)
- Much Ado about Something Important: How do Exchange Rate Movements Effect Inflation (2016) The Manchester School 84 (S1, Sept.): pgs. 15-41.
Policy Responses, Globalization, Inequality and other Topics
- Policy Packages and Policy Space: Lessons from COVID-19 (2023) with Katharina Bergant. European Economic Review, vol. 158 (Sept).
- VoxEU Blog: Responses to COVID-19: The Role of Policy Space (01/22/23)
- Link to zip file with data on policy responses, variables, and replication code
- Also available as: NBER Working Paper #31254 (2023), CEPR Working Paper DP #17699 (2022), MIT Sloan Working Paper #6795-22 (2022)
- Pick Your Poison: The Choices and Consequences of Policy Responses to Crises (2015) with Michael Klein. IMF Economic Review 63 (April): pgs.197-237.
- Earlier versions: MIT Sloan Working Paper #5062-13 and NBER Working Paper #20987.
- Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act (2011) with Dhammika Dharmapala and Fritz Foley. Journal of Finance 66 (3, June): pgs. 753-787.
- Skill Classification Does Matter: Estimating the Relationship Between Trade Flows and Wage Inequality (2001). Journal of International Trade and Economic Development, 10 (2, June), pgs. 175-209.
- A Reassessment of the Relationship Between Inequality and Growth (2000). American Economic Review, vol. 90 (4), (Sept.): pgs. 869-887.
- Inequality and Growth: An Evaluation of Trends and Relationships in India Abstract (Aug. 1996)