Institute for International Economic Policy

International Finance

The conference on "Advances in Behavioral Finance" featuring Nobel Prize winner George Akerlof and co-sponsored with the IMF Institute took place on May 26th, 2011. See our webpage for speakers and papers.

Events Faculty Research Articles


Relevant Faculty and Areas of Expertise


IIEP Working Paper #31
Sinclair, Tara, "How Well Does 'Core' CPI Measure Long-Run Inflation", with Michael D. Bradley (GWU) and Dennis Jansen (Texas A&M), May 2009

IIEP Working Paper #30
Suranovic, Steve, "Greed and Capitalism: A Source of Evil or Salvation?"

IIEP Working Paper #29
Joutz, Frederick L., "Fiscal and Political Instability and the Growth Nexus in Developing Countries: An Application to Nigeria", with Issouf Samake (World Bank), May 2009

IIEP Working Paper #27
Emran, M. Shahe, "Government Borrowing and Private Credit: Evidence from Developing Countries" with Subika Farazi (GWU and World Bank)

IIEP Working Paper #22
Lustig, Nora, "Coping with Rising Food Prices: Policy Dilemmas in the Developing World", February 15, 2009

IIEP Working Paper #21
Joutz, Frederick L., "Oil Prices, Fiscal Policy, and Venezuela's Economic Growth", with Michael D. Bradley (GWU) and Amany El-Anshasy (GWU)
Revise and resubmit at Energy Journal

IIEP Working Paper #20
Emran, M. Shahe, "Financial Liberalization, Financial Restraint and Entrepreneurial Development" with Joseph E. Stiglitz (Columbia), January 2009

IIEP Working Paper #15
Joutz, Frederick L., "Exploring the Link Between Oil Prices and Tanker Rates", with Angela Poulakidas (QCC-CUNY), August 26, 2008
Forthcoming in Maritime Policy and Management

IIEP Working Paper #14
Malik, Arun S., "The Desirability of Forgiveness in Regulatory Enforcement", December 23, 2007

IIEP Working Paper #6
Sinclair, Tara, "Are 'unbiased' forecasts really unbiased? Another look at the Fed forecasts" with H.O. Stekler (GWU) and Fred Joutz (GWU)

IIEP Working Paper #5
Sinclair, Tara, "Multivariate Forecast Errors and the Taylor Rule" with Edward N. Gamber (Lafayette), H.O. Stekler (GWU) and Elizabeth Reid (GWU).


Cipriani, Marco, "Transaction Costs and Informational Cascades in Financial Markets: Theory and Experimental Evidence" P D F icon (with Antonio Guarino), Journal of Economic Behavior and Organization.

Fostel, Ana with Graciela Kaminsky, "Latin America's Access to International Capital Markets: Good Behavior or Global Liquidity?" in Kevin Cowan, Sebastian Edwards, and Rodrigo Valdes (eds) Current Account and External Financing, Central Bank of Chile.

Fostel, Ana with John Geanakoplos, "Emerging Markets and an Anxious Global Economy: Contagion, Flight to Liquidity and Issuance Rationing," American Economic Review.

Sinclair, Tara, with H.O. Stekler and Lindsay Kitzinger, "Directional Forecasts of GDP and Inflation: A Joint Evaluation with an Application to Federal Reserve Predictions," Applied Economics.

Sinclair, Tara, with H.O. Stekler, "Forecast Evaluation of AveAve Forecasts in the Global VAR Context", International Journal of Forecasting

Sinclair, Tara, "Asymmetry in the Business Cycle: Friedman's Plucking Model with Correlated Innovations", Studies in Nonlinear Dynamics and Econometrics.

Cipriani, Marco, "Herd Behavior and Contagion in Financial Markets," with A. Guarino, The B.E. Journal of Theoretical Economics, April 2008.

Cipriani, Marco, "Herd Behavior in Financial Markets: A Field Experiment with Financial Market Professionals," with A. Guarino, Journal of the European Economic Association, January 2008.
Cipriani, Marco and Graciela Kaminsky, "Volatility in International Financial Market Issuance: The Role of the Financial Center," Open Economies Review, vol. 18, no. 2, 157-176, April 2007.

Emran, Shahe M. with F. Shilpi, and M. Alam: "Economic Liberalization and Price Response of Aggregate Private Investment: Time Series Evidence from India", Canadian Journal of Economics.

Cipriani, Marco with Antonio Guarino, "Herd Behavior in a Laboratory Financial Market," American Economic Review, vol. 95, issue 5, pp. 1427-43, December 2005.

Cipriani, Marco with Antonio Guarino, "Noise Trading in a Laboratory Financial Market: A Maximum Likelihood Approach," Journal of the European Economic Association,, vol. 3, issue 2-3, pp. 315-21 April-May 2005.

Smith, Stephen C. with Hesuk Chun "New Issues in Emerging Markets: Determinants, Effects, and Stock Market Performance of Initial Public Offerings in South Korea,", Journal of Emerging Market Finance,", vol. 2, no. 3, pp. 253-85 ,December 2003.

Smith, Stephen C. with Beom-cheol Cin and Tzu Shian Han, "A Tale of Two Tigers: Employee Financial Participation in Korea and Taiwan,", International Journal of Human Resource Management, Sept. 2003.

Please contact for more information.