INTERNATIONAL FINANCE
Finance 933
Spring 2009
Guidelines for Student Presentations
Format
A presentation should cover three parts: (1) the paper's research question(s) addressed, (2) the
paper's basic content, and (3) a critical appraisal of the paper's contribution and suggested
extensions. Presentations should be accompanied by a typed handout of NO MORE than 3 pages
that outlines these three parts as will be described in the presentation.
Papers are allocated on a first come first served basis. You may contact Prof. Lewis or Prof.
Jermann to ask for information about specific papers. A paper is chosen with an email to
jermann@wharton.upenn.edu. The deadline for selecting your paper is: Feb 16.
Information about the scheduled length of a presentation will be provided shortly.
Papers
Papers that are struck-through, paper, have already been taken
Aguiar, Mark; Gopinath, Gita, 2007, “Emerging Market Business Cycles: The Cycle Is the
Trend,” Journal of Political Economy, vol. 115, no. 1, pp. 69-102
Emine Boz, Christian Daude, Bora Durdu, 2008, “Emerging Market Business Cycles Revisited:
Learning About the Trend,” Federal Reserve Board International Finance Discussion Papers, No.
927.
Neumeyer, Pablo A. and Fabrizio Perri, 2005, “Business Cycles in Emerging Economies: the
Role of Interest Rates," Journal of Monetary Economics, Vol. 52, pp. 345-380.
Enrique Mendoza and Vivian Yue, 2008, “A Solution to the Country Risk-Business Cycles
Disconnect,” Working paper.
Charles Engel, Jian Wang, 2008, International Trade in Durable Goods: Understanding
Volatility, Cyclicality, and Elasticities, NBER Working Paper No. 13814
Yu-Chin Chen, Kenneth Rogoff, Barbara Rossi, 2008, Can Exchange Rates Forecast Commodity
Prices? NBER Working Paper No. 13901
Craig Burnside, Martin Eichenbaum, Sergio Rebelo, 2008, Understanding the Forward Premium
Puzzle: A Microstructure Approach, NBER Working Paper No. 13278
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Craig Burnside, Martin Eichenbaum, Sergio Rebelo, 2008, Do Peso Problems Explain the
Returns to the Carry Trade?, NBER Working Paper No. 14054
Cristina Arellano, Ananth Ramanarayanan, 2008, Default and Maturity Structure in Foreign
Bonds, University of Minnesota working paper.
Pierpaolo Benigno, 2007, Portfolio Choices with Near Rational Agents: A Solution of Some
International-Finance Puzzles, NBER Working Paper No. 13173.
Philip R. Lane, Jay C. Shambaugh, 2008, “Financial Exchange Rates and International Currency
Exposure,” Deutsche Bundesbank Discussion Paper No. 22/2008 (American Economic Review,
forthcoming.)
Mark Aguiar, 2005, "Investment, Devaluation and Foreign Currency Exposure: The Case of
Mexico," Journal of Development Economics, vol. 78, no. 1, pp. 95-113
Enrique Mendoza, Vincenzo Quadrini, and Victor Rios-Rull, 2008, "Financial Integration,
Financial Development, and Global Imbalances," University of Maryland working paper.
Nicolas Coeurdacier, Pierre-Olivier Gourinchas, 2008, “When Bonds Matter: Home Bias in
Goods and Assets,” UC Berkeley Working Paper.
George Alessandria, Joseph Kaboski and Virgiliu Midrigan 2008, "Inventories, Lumpy Trade,
and Large Devaluations," Philadelphia Federal Reserve Working Paper 08-3.
Jonathan Heathcote and Fabrizio Perri, 2008, “The International Diversification Puzzle is Not as
Bad as You Think,” University of Minnesota working paper.
Harjoat S. Bhamra, 2007, “Stock Market Liberalization and the Cost of Capital in Emerging
Markets,” University of British Columbia working paper.
Geert Bekaert, Robert Hodrick, Xiaoyan Zhang, 2005, “International Stock Return
Comovements,” NBER Working Paper 11906
Engel C. and Akito Matsumoto “International Risk Sharing: Through Equity Diversification or
Exchange-Rate Hedging?” 2008, University of Wisconsin working paper.
Romain Rancierre and Aaron Tornell, 2008, “A Long Run Perspective on Currency Mismatch,
Crises and Growth,” IMF working paper.
Gita Gopinath, 2004, Lending Booms, Sharp Reversals and Real Exchange Rate Dynamics,
Journal of International Economics, vol. 62, no. 1, pp. 1-23
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Kenneth A. Froot, Paul O'Connell and Mark Seasholes, 2001, “The Portfolio Flows of
International Investors,” Journal of Financial Economics, 151-193.
Grinblatt, M. and M. Keloharju, 1998, "The Investment Behavior of Various Investor-Types: A
study of Finland's Unique Data Set," Journal of Financial Economics, 55, 43-67.
Dahlquist, M. and G. Robertsson, 2001, “Direct Foreign Ownership, Institutional Investors and
Firm Characteristics,” Journal of Financial Economics, 59, 413-440.
Doidge, C., G. A. Karolyi and R. Stulz, 2004, “Why are Foreign Firms Listed in the U.S. Worth
More?” Journal of Financial Economics, 71, 205-238
Geert Bekaert, Campbell R. Harvey and Robin Lumsdaine, 2002, “Dating the Integration of
World Equity Markets," Journal of Financial Economics (65), 2, 203-248.
Bekaert, G., C. R. Harvey and C. Lundblad, 2002, “Emerging Equity Markets and Economic
Growth,” working paper Columbia University and Duke University.
Geert Bekaert, Campbell Harvey and Christian Lundblad, 2005,"Does Financial Liberalization
Spur Economic Growth," Journal of Financial Economics 77, 3-55.
Henry, P., 2000, “Stock Market Lineralization, Economic Reform and Emerging Market Equity
Prices,” Journal of Finance, 55, 529-564.
Andrew Ang, Geert Bekaert, 2002, “International Asset Allocation with Regime Shifts," Review
of Financial Studies (15), 4, 1137-1187.
Pierre-Olivier Gourinchas; Olivier Jeanne, 2007, “Capital Flows to Developing Countries: The
Allocation Puzzle,” NBER Working Paper No. 13602
Craig Doidge, Andrew Karolyi, Karl Lins, Darius Miller, and René Stulz, 2005, "Private Benefits
of Control, Ownership and the Cross-Listing Decision," Ohio State University working paper
Christian Leuz, Karl Lins, and Francis Warnock, 2008, “Do Foreigners Invest Less in Poorly
Governed Firms?” University of Chicago working paper (Review of Financial Studies
forthcoming).
Itay Goldstein, Assaf Razin, 2006, “An Information-Based Trade Off between Foreign Direct
Investment and Foreign Portfolio Investment,” Journal of International Economics, vol. 70, no. 1
pp. 271-95.
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