PhD, Economics, Massachusetts Institute of Technology
MPhil, Nuffield College, University of Oxford, England
BA, Trinity College, University of Toronto
At Haas since 1986
2009 – present, Bernard T. Rocca, Jr. Chair in International Business & Trade, Haas School of Business
1998 – present, Bernard T. Rocca, Jr. Professor of International Trade, Haas School of Business
1986 – present, Professor, Haas School of Business
2006 – 2007, Founding Director, Berkeley NUS Risk Management Institute
1998, Professorial Fellow in Monetary Economics, Reserve Bank of New Zealand and Victoria University (Wellington New Zealand)
1982 – 1985, Doctoral Fellow, Social Sciences and Humanities Research Council
1981 – 1983, Commonwealth Scholar, Oxford University
External Service and Assignments
Visiting Professor, School of Economics and Social Sciences, Singapore Management University.
Keynote Addresses/Lectures: CESifo (Venice); Deutsche Bundesbank; Economic Society of Singapore; European Central Bank; Hong Kong Monetary Authority; Monetary Authority of Singapore; National University of Singapore; Notre Dame; Reserve Bank of New Zealand; Singapore Management University; University of California, Santa Cruz; University of Glasgow.
Advisory Board Member (past and present): Centre de Recerca en Economia Internacional (CREI); Hong Kong Institute for Monetary Research (HKIMR).
Editorial Board Member (past and present): Finometrika, International Economics and Economic Policy; International Journal of Central Banking; International Journal of Finance and Economics; Journal of International Business Education; Journal of International Financial Markets, Institutions & Money; Journal of International Economics; Journal of Money, Credit, and Banking.
Current Research and Interests
International trade patterns
Contagion in currency crises
Exchange rate determination
Banking and exchange crises in developing countries
Exchange rate regimes
Selected Papers and Publications
“The GATT: It’s Everywhere You Want it to Be,” forthcoming American Economic Review.
“A Stable International Monetary System Emerges: Inflation Targeting is Bretton Woods, Reversed.” Journal of International Money and Finance 2007.
“Offshore Financial Centers: Parasites or Symbionts?” with Mark Spiegel. Economic Journal2007.
“Quantitative Goals for Monetary Policy,” with Antonio Fatás and Ilian Mihov. Journal of Money, Credit, and Banking 2007.
“The Foreign Service and Foreign Trade.” The World Economy 2007.
“Cities and Countries.” Journal of Money, Credit, and Banking 2006.
“Financial Integration: A New Methodology and an Illustration,” with Robert Flood. Journal of the European Economic Association 2005.
“Estimating the Expected Marginal Rate of Substitution: A Systematic Exploitation of Idiosyncratic Risk,” with Robert P. Flood. Journal of Monetary Economics 2005.
“Do We Really Know that the WTO increases Trade?” American Economic Review 2004.
“Is Trade Good or Bad for the Environment? Sorting out the Causality,” with Jeffrey Frankel. The Review of Economics and Statistics 2005.
“Do WTO Members have More Liberal Trade Policy?” Journal of International Economics2004.
“An Estimate of the Effect of Currency Unions on Trade and Growth,” with Jeffrey Frankel. Quarterly Journal of Economics 2002.
“Noise Trading and Exchange Rate Regimes,” with Olivier Jeanne. Quarterly Journal of Economics 2002.
“National Money as a Barrier to Trade: The Real Case for Monetary Union,” with Eric Can Wincoop. American Economic Review, 2001.
“Using the Gravity Model to Differentiate Among Alternative Theories of Trade,” with Robert Feenstra and James Markusen. Canadian Journal of Economics, 2001.
“Putting Things in Order: Patterns of Trade Dynamics and Macroeconomics,” with Robert Feenstra. Review of Economics and Statistics, 2000.
“A Review of Some of the Economic Contributions of Robert A. Mundell, Winner of the 1999 Nobel Memorial Prize in Economics.” Scandinavian Journal of Economics, 2000.
“One Money, One Market: Estimating the Effect of Common Currencies on Trade.” Economic Policy, 2000.
“Understanding Exchange Rate Volatility without the Contrivance of Macroeconomics,” with Robert Flood. Economic Journal, 1999.
“Contagion and Trade: Why Are Currency Crises Regional?” with Reuven Glick. Journal of International Money and Finance, 1999.
“The Endogeneity of the Optimum Currency Area Criteria,” with Jeffrey Frankel. Economic Journal, 1998.
Macroeconomics in the Global Economy, BA 201B
Honors and Awards
Earl F. Cheit Award for Excellence in Teaching (MBA Program), 1999 (Finalist 1993, 1994, 1996, 2001)