Research Areas
International investments; international asset pricing; foreign exchange risk management
Current Projects
International asset pricing, exchange rate exposure of firms
Representative Publications
International Financial Integration. Cambridge University Press, 1995.
"The effects of industry structure on economic exposure," Journal of International Money and Finance 20.2 (April 2001).
(with G.M. Bodnar and B.Dumas)
"Pass-through and Exposure," Journal of Finance (February 2002).
Education
PhD, Massachusetts Institute of Technology, 1972; BPhil, University of Oxford, 1968; AB, Yale University, 1966
Career and Recent Professional Awards; Teaching Awards
German Marshall Fund Fellow, 1981; Sanwa Bank Award, 1992
Academic Positions Held
Wharton: 1977-present (Director, Weiss Center for International Financial Research, 1992-present; Acting Director, U.S.-Japan Management Studies Center, 1989-91; named James R.F. Guy Professor of Finance and Economics, 1986). University of Pennsylvania: 1972-present. Visiting appointments: Kiel Institute; Institute for Monetary and Economic Studies, Bank of Japan; Chulalongkorn University, Thailand; Institute for Advanced Studies, Vienna; Ecole Superieure des Sciences Economiques et Commerciales, Paris; London Business School
Other Positions
Research Associate, National Bureau of Economic Research, 1979-present; Research Fellow, Brookings Institution, 1971-72
Professional Leadership 2005-2009
Associate Editor, Journal of International Money and Finance, 1981-present; Board of Editors, Empirical Economics, 1983-present; Board of Editors, Japan and the World Economy, 1987-present
