Financial capital and fixed capital tend to flow in opposite directions between poor and rich countries. Why? What are the implications of such two-way capital flows for global trade imbalances and welfare in the long run? This paper introduces frictions into a standard two- country neoclassical...

Conventional wisdom has it that inventory investment destabilizes the economy because it is procyclical to sales. Khan and Thomas (2007) show that the conventional wisdom is wrong in a general equilibrium (S,s) model with capital. We argue that their finding is not robust—the conventional...

The American European Community Association, Brussels, Belgium, April 16, 2007

Presentation to the Missouri Bankers Association Senior Bank Management Conference, Acapulco, Mexico - Jan. 15, 2001

Global Interdependence Center, Annual Black Tie Gala in Celebration of Greece, Philadelphia, Penn., July 25, 2007

Remarks prepared for 16th Annual Monetary Conference, Cato Institute, Washington, D.C. - Oct. 22, 1998

Presentation at the University of Missouri-Columbia - Nov. 4, 1999

European Economics & Financial Centre Conference, London, Sept. 6, 2007

Presentation at the Annual Global Student Investment Forum - R.I.S.E. VI (Redefining Investment Strategy Education) University of Dayton, Dayton, Ohio, March 30, 2006

Presentation to the Money Marketeers of New York University, New York City - Sept. 21, 1999