Photo of Karen K. Lewis

Karen K. Lewis

Joseph and Ida Sondheimer Professor in International Economics and Finance

Research Interests: asset pricing, international finance, macrofinance, investments

Links: CV, Personal Website


  • Bernard Dumas, Karen K. Lewis, Emilio Osambela (Working), Differences of Opinion and International Equity Markets.  
  • Fabio Ghironi, Karen K. Lewis (Working), Equity Sales and Manager Efficiency across Firms and the Business Cycle.
  • Karen K. Lewis, Edith X. Liu (2015), Evaluating International Consumption Risk Sharing Gains: An Asset Return View, Journal of Monetary Economics, 71, 84 - 98.  
  • Karen K. Lewis (Working), Do Foreign Firm Betas Change During Cross-Listing?.    Abstract
  • Karen K. Lewis (2011), Global Asset Pricing, Annual Review of Financial Economics, 3, 435 - 466.  
  • Karen K. Lewis (2007), Peso Problem, The New Palgrave Dictionary of Money and Finance,, 2007.  
  • Karen K. Lewis (2003), What Can Explain the Apparent Lack of International Consumption Risk-sharing?, Journal of Political Economy, 104 (2), 267 - 297.  
  • Karen K. Lewis (2000), Why Do Stocks and Consumption Suggest Such Different Gains from International Risk-Sharing?, Journal of International Economics, 52, 1 - 35.  
  • Karen K. Lewis (1999), Trying to Explain Home Bias in Equities and Consumption, Journal of Economic Literature, 37, 571 - 608.  
  • Karen K. Lewis (1997), Are Countries with Official International Capital Restrictions "Liquidity Constrained"?, European Economic Review, 41, 1079 - 1109.
  • Karen K. Lewis, Graciela Kaminsky (1996), Does Foreign Exchange Intervention Signal Future Monetary Policy?, Journal of Monetary Economics, 37, 285 - 312.  
  • Karen K. Lewis (1996), Stochastic Regime Switching and Stabilizing Interventions within Regimes, International Journal of Finance and Economics, 1 (2).  
  • Karen K. Lewis, "Puzzles in International Financial Markets". In Handbook of International Economics, edited by Gene Grossman, Kenneth Rogoff, (1995), 1913 - 1971.  
  • Karen K. Lewis, Martin D. D. Evans (1995), Do Long Term Swings in the Dollar Affect Estimates of the Risk Premium?, Review of Financial Studies , 8, 709 - 742.  
  • Karen K. Lewis (1995), Occasional Interventions to Target Rates, American Economic Review, 85, 691 - 715.  
  • Karen K. Lewis (1995), Are Foreign Exchange Intervention and Monetary Policy Related and Does It Really Matter?, Journal of Business, 68, 185 - 214.  
  • Karen K. Lewis (1994), Do Stationary Risk Premia Explain It All? Evidence from the Term Structure, Journal of Monetary Economics, 33, 285 - 318.  
  • Karen K. Lewis, Michael Klein (1993), Learning About Intervention Target Zones, Journal of International Economics  
  • Karen K. Lewis (1993), Trends in Excess Returns in Currency and Bond Markets, European Economic Review, 37, 1005 - 1020.  
  • Karen K. Lewis (1991), Should the Holding Period Matter in Tests of the Intertemporal Consumption-based CAPM?, Journal of Monetary Economics, 28, 365 - 389.  
  • Karen K. Lewis (1991), An Empirical Exploration of Exchange-Rate Target-Zones: A Comment, Carnegie-Rochester Conference Series on Public Policy, 35, 67 - 78.  
  • Karen K. Lewis (1991), Why Doesn't Society Minimize Central Bank Secrecy?, Economic Inquiry, 29, 403 - 415.  
  • Karen K. Lewis (1991), Was There A "Peso Problem" in the U.S. Interest Rate Term Structure: 1979-1982?, International Economic Review, 32, 159 - 173.  
  • Karen K. Lewis (1990), The Behavior of Eurocurrency Returns Across Different Holding Periods and Monetary Regimes, Journal of Finance, 45, 1211 - 1236.  
  • Karen K. Lewis (1989), Changing Beliefs and Systematic Rational Forecast Errors with Evidence from Foreign Exchange, American Economic Review, 79, 621 - 636.  
  • Karen K. Lewis (1989), On Occasional Monetary Policy Coordinations that Fix the Exchange Rate, Journal of International Economics, 26, 139 - 155.  
  • Karen K. Lewis (1989), Can Learning Affect Exchange Rate Behavior? The Case of the Dollar in the Early 1980s, Journal of Monetary Economics, 23, 79 - 100.  
  • Karen K. Lewis (1988), Inflation Risk and Asset Market Disturbances, Journal of International Money and Finance, 7, 273 - 288.  
  • Karen K. Lewis (1988), The Persistence of the "Peso Problem" when Policy is Noisy, Journal of International Money and Finance, 7, 5 - 21.  
  • Karen K. Lewis (1988), Testing the Portfolio Balance Model: A Multi-Lateral Approach, Journal of International Economics, 24, 107 - 127.