Michael W. Klein

Fletcher School
Tufts University
Medford, MA 02155
Tel: (617) 627-2718
Fax: (617) 627-3712

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org
NBER Program Affiliations: IFM
NBER Affiliation: Research Associate
Institutional Affiliation: Tufts University

NBER Working Papers and Publications

August 2015International and Intranational Market Segmentation and Integration in West Africa
with Jenny C. Aker, Stephen A. O'Connell
in African Successes, Volume IV: Sustainable Growth, Sebastian Edwards, Simon Johnson, and David N. Weil, editors
July 2015Military Officer Quality in the All-Volunteer Force
with Matthew F. Cancian: w21372

Published: Military Officer Aptitude in the All-Volunteer Force Matthew Franklin Cancian, Michael W. Klein Armed Forces & Society Vol 44, Issue 2, pp. 219 - 237 First Published April 13, 2017 https://doi.org/10.1177/0095327X17695223

February 2015Capital Control Measures: A New Dataset
with Andrés Fernández, Alessandro Rebucci, Martin Schindler, Martín Uribe: w20970

Published: Andrés Fernández & Michael W Klein & Alessandro Rebucci & Martin Schindler & Martín Uribe, 2016. "Capital Control Measures: A New Dataset," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 64(3), pages 548-574, August. citation courtesy of

Pick Your Poison: The Choices and Consequences of Policy Responses to Crises
with Kristin J. Forbes: w20987

Published: Kristin J Forbes & Michael W Klein, 2015. "Pick Your Poison: The Choices and Consequences of Policy Responses to Crises," IMF Economic Review, Palgrave Macmillan, vol. 63(1), pages 197-237, May. citation courtesy of

September 2013Rounding the Corners of the Policy Trilemma: Sources of Monetary Policy Autonomy
with Jay C. Shambaugh: w19461

Published: Michael W. Klein & Jay C. Shambaugh, 2015. "Rounding the Corners of the Policy Trilemma: Sources of Monetary Policy Autonomy," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(4), pages 33-66, October. citation courtesy of

November 2012Capital Controls: Gates versus Walls

Published: Michael W. Klein, 2012. "Capital Controls: Gates versus Walls," Brookings Papers on Economic Activity, vol 2012(1), pages 317-367. citation courtesy of

September 2010Evolving Perceptions of Central Bank Credibility: The European Central Bank Experience
with Linda S. Goldberg
in NBER International Seminar on Macroeconomics 2010, Richard Clarida and Francesco Giavazzi, organizers
June 2010Comment on "External Balance in Low-Income Countries"
in NBER International Seminar on Macroeconomics 2009, Lucrezia Reichlin and Kenneth D. West, organizers
May 2010The Contribution of Trade to Wage Inequality: The Role of Skill, Gender, and Nationality
with Christoph Moser, Dieter M. Urban: w15985

Published: Labour Economics Volume 25, December 2013, Pages 76–85 European Association of Labour Economists 24th Annual Conference, Bonn, Germany, 20-22 September 2012 Cover image Exporting, skills and wage inequality ☆ Michael W. Kleina, , Christoph Moserb, , , Dieter M. Urbanc, 1

Borders, Ethnicity and Trade
with Jenny C. Aker, Stephen A. O'Connell, Muzhe Yang: w15960

Published: Aker, Jenny C. & Klein, Michael W. & O'Connell, Stephen A. & Yang, Muzhe, 2014. "Borders, ethnicity and trade," Journal of Development Economics, Elsevier, vol. 107(C), pages 1-16. citation courtesy of

December 2006The Nature of Exchange Rate Regimes
with Jay C. Shambaugh: w12729
November 2005Establishing Credibility: Evolving Perceptions of the European Central Bank
with Linda S. Goldberg: w11792
May 2005Studying Texts: A Gemara of the Israeli Economy

Published: Klein, Michael W. "Studying Texts: A Gemara of the Israeli Economy." Israel Economic Review 3, 1 (August 2005): 121-47.

February 2005Capital Account Liberalization, Institutional Quality and Economic Growth: Theory and Evidence
August 2004Fixed Exchange Rates and Trade
with Jay C. Shambaugh: w10696

Published: Klein, Michael W. & Shambaugh, Jay C., 2006. "Fixed exchange rates and trade," Journal of International Economics, Elsevier, vol. 70(2), pages 359-383, December. citation courtesy of

February 2003Capital Account Openness and the Varieties of Growth Experience
August 2002Capital Account Liberalization and Economic Performance: Survey and Synthesis
with Hali J. Edison, Luca Ricci, Torsten Sloek: w9100

Published: Hali J. Edison & Michael W. Klein & Luca Antonio Ricci & Torsten Sløk, 2004. "Capital Account Liberalization and Economic Performance: Survey and Synthesis," IMF Staff Papers, Palgrave Macmillan Journals, vol. 51(2), pages 2. citation courtesy of

July 2002Work and Play: International Evidence of Gender Equality in Employment and Sports

Published: Klein, Michael W. “Work and Play: International Evidence of Gender Equality in Employment and Sports." Journal of Sports Economics 5, 3 (August 2004): 227-242.

April 2002Dollarization and Trade

Published: Klein, Michael W. "Dollarization And Trade," Journal of International Money and Finance, 2005, v24(6,Oct), 935-943. citation courtesy of

August 2000Troubled Banks, Impaired Foreign Direct Investment: The Role of Relative Access to Credit
with Joe Peek, Eric Rosengren: w7845

Published: Klein, Michael W., Joe Peek and Eric P. Rosengren. "Troubled Banks, Impaired Foreign Investment: The Role Of Relative Access To Credit," American Economic Review, 2002, v92(3,Jun), 664-682. citation courtesy of

January 2000Job Creation, Job Destruction, and the Real Exchange Rate
with Scott Schuh, Robert K. Triest: w7466

Published: Published as "The Real Exchange Rate and Foreign Direct Investment in the United States: Relative Wealth Vs. Relative Wage Effects", Journal of International Economics (1994). citation courtesy of

October 1999Capital Account Liberalization, Financial Depth and Economic Growth
with Giovanni Olivei: w7384

Published: Klein, Michael W. and Giovanni P. Olivei. "Capital Account Liberalization, Financial Depth, and Economic Growth." Journal of International Money and Finance 27, 6 (October 2008): 861-75.

June 1999International Trade and Factor Mobility: An Empirical Investigation
with Linda S. Goldberg: w7196

Published: Festschrift in Honor of Robert Mundell, Calvo, G., R. Dornbusch, and M. Obstfeld, eds., Cambridge: MIT Press, 2000.

September 1998Risky Habits: On Risk Sharing, Habit Formation, and the Interpretation of International Consumption Correlations
with Jeffrey C. Fuhrer: w6735

Published: Fuhrer, Jeffrey C. and Michael W. Klein. "Risky Habits: On Risk Sharing, Habit Formation, And The Interpretation Of International Consumption Correlations," Review of International Economics, 2006, v14(4,Sep), 722-740. citation courtesy of

December 1997Foreign Direct Investment, Trade and Real Exchange Rate Linkages in Developing Countries.
with Linda S. Goldberg: w6344


May 1995A Provincial View of Capital Mobility
with Tamim Bayoumi: w5115

Published: International Monetary Fund Staff Papers, Vol. 44, no. 4 (December 1997): 534-556.

July 1994The Real Exchange Rate and Fiscal Policy During the Gold Standard PeriodEvidence from the United States and Great Britain
with Graciela L. Kaminsky: w4809

Published: Modern Perspectives on the Gold Standard, T. Bayoumi, B. Eichengreen, and Taylor, eds., Cambridge: Cambridge University Press, 1996, pp.309-340.

February 1994Explaining the Duration of Exchange-Rate Pegs
with Nancy P. Marion: w4651

Published: Journal of Development Economics, Vol. 54, no. 2 (December 1997): 387-404. citation courtesy of

June 1993Timing is All: Elections and the Duration of United States Business Cycles

Published: Journal of Money, Credit and Banking, vol. 28, no. 1, February 1996,pp. 84-101. citation courtesy of

October 1992The Real Exchange Rate and Foreign Direct Investment in the United States: Relative Wealth vs. Relative Wage Effects
with Eric Rosengren: w4192

Published: Journal of International Economics, vol. 36, no. 3/4, May 1994, p. 373 citation courtesy of

September 1992The Accuracy of Reports of Foreign Exchange Intervention

Published: Journal of International Money and Finance, December 1993, Vol. 12, No. 6,pp. 644-653. citation courtesy of

April 1991Learning About Intervention Target Zones
with Karen K. Lewis: w3674


  • Journal of International Econmics, vol. 35(3-4), pp. 275-295, November 1993
  • Klein, Michael W. & Lewis, Karen K., 1993. "Learning about intervention target zones," Journal of International Economics, Elsevier, vol. 35(3-4), pages 275-295, November. citation courtesy of

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