Currency Market
Microstructure

Foreign Exchange Market Structure, Players, and Evolution (View PDF)

Joint work with Michael R. King and Dagfinn Rime

Hedge Funds and the Origins of Private Information in Currency Markets (View PDF)

Joint work with Vitaliy Vandrovych

Asymetric Information and the Foreign-Exchange Spreads of Global Custody Banks (View PDF)

Joint work with Tanseli Savaser

Foreign Exchange Microstructure: A Survey of the Empirical Literature (View PDF)

Forthcoming, Springer Encyclopedia of Complexity and System Science

Asymmetric Information in the Interbank Foreign Exchange Market (View PDF)

Joint with Geir H. Bjønnes and Dagfinn Rime, Norgesbank Working Paper 2008/25

Price Discovery in Currency Markets (View PDF)

Joint work with Lukas Menkhoff and Alexander Mende

Extreme Returns March 2011 (View PDF)

Joint work with Tanseli Savaser

Liquidity Dynamics in Limit-Order Markets under Asymmetric Information (View PDF)

Joint work with Lukas Menkhoff and Maik Schmeling Forthcoming, Journal of Banking and Finance

Macro Lessons from Microstructure (View PDF)

International Journal of Finance and Economics (January 2006).

Currency Orders and Exchange-Rate Dynamics:  An Explanation for the Predictive Success of Technical Analysis (View Abstract)

Federal Reserve Bank of New York Staff Report 125:  (March 2001). Forthcoming, Journal of Finance

Rational Speculators and Exchange Rate Volatility (View Abstract)

European Economic Review 44 (February 2000):  231-253. Joint work with John Carlson.

Short-Term Speculators and the Puzzling Behavior of Exchange Rates

Journal of International Economics 43, No. 1 (June 1998): 37-58.

Exchange Rate Dynamics and Speculators' Horizons

Journal of International Money and Finance 14 (1995): 695-719

Interest Rate Premiums and the Failure of Uncovered I nterest Rate Parity

Journal of International Financial Makets, Institutions and Money, 2, Nº2 (November 1992): 1-26

Factor Prices Under Integrated Markets for Risky Capital

European Economic Reveiw 35 (1991): 1311-40

Explaining the Absence of International Factor - Price Convergence

Journal of International Money and Finance 10 (1991): 89-107