“Quantifying private benefits of control from a structural model of block trades,” (with Enrique Schroth) June 2009. First version circulated as “Determinants of Private Benefits of Control,” CEPR Discussion Paper No. 6742. Accepted for publication at the Journal of Financial Economics.

 

“Global Private Information in International Equity Markets,” (with Greg Bauer and Martin Schneider) Journal of Financial Economics, Vol. 94 (1), pp. 18-46, October 2009.

 

“Economic News and International Stock Market Co-Movement,” (with Clara Vega) Review of Finance, Vol. 13(3), pp. 401-465, July 2009. (lead article)

 

 

“Marketwide Private Information in Stocks: Forecasting Currency Returns,” (with Eva de Francisco and Luis Marques) The Journal of Finance Vol. 63(5), pp. 2297-2343 (2008) .

 

“Agency Conflicts, Investment, and Asset Pricing,” (with Neng Wang)

The Journal of Finance Vol. 63(1), pp. 1-40 (2008) (lead article).

Smith Breeden Distinguished Paper Award for 2008.

 

“The Forward Premium Puzzle in a Model of Imperfect Information: Theory and Evidence” Economics Letters 99, pp. 461-464 (2008).   http://dx.doi.org/10.1016/j.econlet.2007.09.016

“International Equity Flows and Returns: A Quantitative Equilibrium Approach”, with Greg Bauer and Martin Schneider, The Review of Economic Studies 74(1), pp. 1-30 (2007). ECB working paper No. 310.

Appendix to “International Equity Flows and Returns” here.

 

“Optimal Currency Hedging”, Global Finance Journal 18(1), pp. 16:33 (2007). http://dx.doi.org/10.1016/j.gfj.2006.09.002

 

“World Market Integration Through the Lens of Foreign Direct Investors,” with Norman Loayza and Luis Servén. Journal of International Economics 66, pp. 267-295 (2005). http://dx.doi.org/10.1016/j.jinteco.2004.07.002 (lead article)

 

“Optimal Lending Contracts and Firm Dynamics”, with Hugo Hopenhayn, The Review of Economic Studies 71(2), pp. 285-315 (2004). This paper circulated under the title: “Optimal Dynamic Lending Contracts with Imperfect Enforceability”, RCER WP#439, April 1997.

 

“The Composition of International Capital Flows: Risk Sharing Through Foreign Direct Investment,” Journal of International Economics 61, pp. 353-383 (2003). http://dx.doi.org/10.1016/S0022-1996(03)00013-8

 

“On the Dynamics of Trade Reform,” with Sergio Rebelo, Journal of International Economics 51, pp. 21-47 (2000). http://dx.doi.org/10.1016/S0022-1996(99)00036-7

 

 

Working Papers

 

“Advance Information and Asset Prices,” (with Jianjun Miao) February 2009. Circulated as CEPR Discussion Papers Series No. 6588.

 

“CEO Power, Compensation, and Governance,” (with Jianjun Miao) January 2008.

 

“Corporate Governance and Asset Prices in a Two-Country Model,” (with Neng Wang) July 2004.