Richard K. Lyons

University of California, Berkeley

Associate Professor of Business Administration

Haas School of Business

Berkeley, CA 94720

United States

National Bureau of Economic Research (NBER)

Fellow

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of California, Berkeley

    • Email
    • Tel: 510-642-1059
    • Fax: 510-643-1420
SCHOLARLY PAPERS

35

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409

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1,104

Scholarly Papers (35)

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1.

Mutual Fund Investment in Emerging Markets: An Overview

Downloads 1,886 (15,457)

Mutual Fund Investment in Emerging Markets: An Overview

Number of pages: 37 Posted: 05 Jun 2001
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)
Downloads 1,886 (15,203)
Citation 3

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Mutual Fund Investment in Emerging Markets: An Overview

Posted: 07 May 2002
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)

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mutual funds, emerging markets, capital flows, equity investment, contagion, crises

2.

Innovation in Services: Corporate Culture and Investment Banking

California Management Review, Vol. 50, No. 1, pp. 174-191, 2007
Number of pages: 19 Posted: 03 Mar 2010
Richard K. Lyons, Jennifer Chatman and Caneel K. Joyce
University of California, Berkeley, University of California, Berkeley - Haas School of Business, Organizational Behavior & Industrial Relations Group and London School of Economics
Downloads 1,446 (23,230)
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innovation, service innovation, corporate culture, investment banking, service sector, financial services, organizational culture, management, business, hiring, promotions, leadership, creativity

3.

What Keeps Stablecoins Stable?

Downloads 1,329 (26,291)
Citation 15

What Keeps Stablecoins Stable?

Journal of International Money and Finance, Forthcoming
Number of pages: 71 Posted: 10 Jan 2020 Last Revised: 21 Nov 2022
Richard K. Lyons and Ganesh Viswanath-Natraj
University of California, Berkeley and Warwick Business School
Downloads 1,244 (28,545)
Citation 3

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Cryptocurrency, stablecoins, Tether, arbitrage, exchange rates

What Keeps Stablecoins Stable?

NBER Working Paper No. w27136
Number of pages: 63 Posted: 12 May 2020 Last Revised: 23 Feb 2023
Richard K. Lyons and Ganesh Viswanath-Natraj
University of California, Berkeley and Warwick Business School
Downloads 85 (503,419)
Citation 10

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4.

Order Flow and Exchange Rate Dynamics

Downloads 1,236 (29,282)
Citation 343

Order Flow and Exchange Rate Dynamics

Number of pages: 46 Posted: 23 Sep 1999
Richard K. Lyons and Martin D.D. Evans
University of California, Berkeley and Georgetown University - Department of Economics
Downloads 1,141 (32,389)
Citation 12

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Order Flow and Exchange Rate Dynamics

NBER Working Paper No. w7317
Number of pages: 46 Posted: 19 Jul 2000 Last Revised: 31 Dec 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 95 (468,749)
Citation 72

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Order Flow and Exchange Rate Dynamics

Posted: 25 Jan 2002
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley

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5.

Managers, Investors, and Crises: Mutual Fund Strategies in Emerging Markets

Downloads 721 (61,761)
Citation 46

Managers, Investors, and Crises: Mutual Fund Strategies in Emerging Markets

Number of pages: 37 Posted: 14 Aug 2000
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)
Downloads 608 (76,056)
Citation 2

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Managers, Investors, and Crises: Mutual Fund Strategies in Emerging Markets

NBER Working Paper No. w7855
Number of pages: 38 Posted: 19 Aug 2000 Last Revised: 19 Dec 2022
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)
Downloads 82 (514,684)
Citation 11

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Managers, Investors, and Crises: Mutual Fund Strategies in Emerging Markets

World Bank Policy Research Working Paper No. 2399
Number of pages: 42 Posted: 29 Sep 2017
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)
Downloads 31 (807,279)
Citation 8

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Financial Intermediation, International Terrorism & Counterterrorism, Financial Crisis Management & Restructuring, Economic Theory & Research, Infrastructure Finance, Payment Systems & Infrastructure, Markets and Market Access

Managers, Investors, and Crises: Mutual Fund Strategies in Emerging Markets

Posted: 10 Dec 2004
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)

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Mutual funds, managers, investors, trading strategies, emerging markets, momentum, feedback trading, crisis, contagion

6.

Meese-Rogoff Redux: Micro-Based Exchange Rate Forecasting

Downloads 589 (80,102)
Citation 67

Meese-Rogoff Redux: Micro-Based Exchange Rate Forecasting

Number of pages: 16 Posted: 10 Jan 2005
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 466 (105,733)
Citation 2

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Exchange rates, forecasting, Meese and Rogoff, microstructure, order flow

Meese-Rogoff Redux: Micro-Based Exchange Rate Forecasting

NBER Working Paper No. w11042
Number of pages: 23 Posted: 09 Feb 2005 Last Revised: 04 Sep 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 123 (388,853)
Citation 6

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7.

A New Micro Model of Exchange Rate Dynamics

Downloads 543 (88,662)
Citation 12

A New Micro Model of Exchange Rate Dynamics

Number of pages: 63 Posted: 05 Mar 2004
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 457 (108,252)

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Exchange rates, dispersed information, general equilibrium, microstructure

A New Micro Model of Exchange Rate Dynamics

NBER Working Paper No. w10379
Number of pages: 64 Posted: 31 Mar 2004 Last Revised: 12 Nov 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 86 (499,698)
Citation 6

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8.

Do Currency Markets Absorb News Quickly?

Downloads 422 (120,039)
Citation 43

Do Currency Markets Absorb News Quickly?

Number of pages: 24 Posted: 10 Jan 2005
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 308 (168,633)

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exchange rates, news, macroeconomic announcements

Do Currency Markets Absorb News Quickly?

NBER Working Paper No. w11041
Number of pages: 25 Posted: 04 Feb 2005 Last Revised: 03 Sep 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 114 (411,518)
Citation 6

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9.

Portfolio Balance, Price Impact, and Secret Intervention

Downloads 314 (166,262)
Citation 3

Portfolio Balance, Price Impact, and Secret Intervention

Georgetown University Economics Working Paper
Number of pages: 37 Posted: 19 Jun 2001
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 267 (195,553)
Citation 2

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Exchange rates, portfolio balance models, microstructure, intervention

Portfolio Balance, Price Impact, and Secret Intervention

NBER Working Paper No. w8356
Number of pages: 38 Posted: 28 Jun 2001 Last Revised: 02 Nov 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 47 (689,073)
Citation 3

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10.

Understanding Order Flow

NBER Working Paper No. w11748
Number of pages: 36 Posted: 01 Feb 2006 Last Revised: 08 Aug 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 252 (208,160)
Citation 3

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11.

Search Costs: The Neglected Spread Component

Number of pages: 22 Posted: 11 Feb 1998
Mark D. Flood, Ronald Huisman, Kees C. G. Koedijk and Richard K. Lyons
R. H. Smith School of Business, U. of Maryland, Erasmus University Rotterdam (EUR) - Erasmus School of Economics (ESE), Tilburg University - Department of Finance and University of California, Berkeley
Downloads 248 (211,407)
Citation 4

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12.

An Information Approach to International Currencies

Downloads 206 (252,114)
Citation 13

An Information Approach to International Currencies

WBS Finance Group Research Paper No. 44
Number of pages: 30 Posted: 30 Mar 2005
Richard K. Lyons and Michael Moore
University of California, Berkeley and University of Warwick - Warwick Business School
Downloads 146 (340,081)

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Foreign exchange, vehicle currency, information, microstructure

An Information Approach to International Currencies

NBER Working Paper No. w11220
Number of pages: 31 Posted: 28 Apr 2005 Last Revised: 29 Aug 2022
Richard K. Lyons and Michael Moore
University of California, Berkeley and University of Warwick - Warwick Business School
Downloads 60 (613,570)

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13.

Exchange Rate Fundamentals and Order Flow

NBER Working Paper No. w13151
Number of pages: 69 Posted: 27 Jun 2007 Last Revised: 09 Dec 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 163 (309,762)
Citation 3

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14.

Are Different-Currency Assets Imperfect Substitutes?

Number of pages: 44 Posted: 31 Jul 2003
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 144 (343,236)

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15.

Tests of Microstructural Hypotheses in the Foreign Exchange Market

Downloads 115 (406,867)
Citation 24

Tests of Microstructural Hypotheses in the Foreign Exchange Market

NBER Working Paper No. w4471
Number of pages: 34 Posted: 29 Jun 2000 Last Revised: 21 Sep 2022
Richard K. Lyons
University of California, Berkeley
Downloads 115 (408,882)
Citation 24

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Tests of Microstructural Hypotheses in the Foreign Exchange Market

Posted: 14 Sep 1999
Richard K. Lyons
University of California, Berkeley

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16.

Mutual Fund Investment in Emerging Markets - an Overview

World Bank Policy Research Working Paper No. 2529
Number of pages: 44 Posted: 29 Sep 2017
Graciela Kaminsky, Richard K. Lyons and Sergio L. Schmukler
George Washington University - Department of Economics, University of California, Berkeley and World Bank - Development Research Group (DECRG)
Downloads 77 (528,574)
Citation 1

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Financial Intermediation, Infrastructure Finance, Economic Theory & Research, International Terrorism & Counterterrorism

17.

How is Macro News Transmitted to Exchange Rates?

NBER Working Paper No. w9433
Number of pages: 53 Posted: 10 Jan 2003 Last Revised: 12 Oct 2022
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley
Downloads 77 (528,574)
Citation 34

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18.

Foreign Exchange Volume: Sound and Fury Signifying Nothing?

NBER Working Paper No. w4984
Number of pages: 33 Posted: 30 Aug 2000 Last Revised: 15 Aug 2022
Richard K. Lyons
University of California, Berkeley
Downloads 67 (570,706)
Citation 1

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19.

Inventory Information

NBER Working Paper No. w9893
Number of pages: 45 Posted: 17 Aug 2003 Last Revised: 15 Jul 2022
H. Henry Cao, Richard K. Lyons and Martin D.D. Evans
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of California, Berkeley and Georgetown University - Department of Economics
Downloads 61 (598,447)
Citation 2

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20.

Is There Private Information in the FX Market? The Tokyo Experiment

Downloads 60 (603,293)

Is There Private Information in the FX Market? The Tokyo Experiment

NBER Working Paper No. w5936
Number of pages: 29 Posted: 20 Sep 2000 Last Revised: 22 Sep 2022
Takatoshi Ito, Richard K. Lyons, Michael Melvin and Michael Melvin
University of Tokyo - Faculty of Economics, University of California, Berkeley and CESifo (Center for Economic Studies and Ifo Institute)University of California, San Diego (UCSD) - Rady School of Management
Downloads 60 (613,570)
Citation 9

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Is There Private Information in the FX Market? The Tokyo Experiment

JOURNAL OF FINANCE
Posted: 11 Sep 1997
Richard K. Lyons, Takatoshi Ito, Michael Melvin and Michael Melvin
University of California, Berkeley, University of Tokyo - Faculty of Economics and CESifo (Center for Economic Studies and Ifo Institute)University of California, San Diego (UCSD) - Rady School of Management

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21.

Explaining Forward Exchange Bias..Intraday

Downloads 59 (608,281)
Citation 6

Explaining Forward Exchange Bias..Intraday

NBER Working Paper No. w4982
Number of pages: 15 Posted: 14 Jul 2000 Last Revised: 14 Aug 2022
Richard K. Lyons, Andrew Kenan Rose and Andrew Kenan Rose
University of California, Berkeley and NUS Business SchoolUniversity of California - Haas School of Business
Downloads 59 (618,849)

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Explaining Forward Exchange Bias ... Intraday

JOURNAL OF FINANCE, Vol 50 No 4, September 1995
Posted: 25 Aug 1998
Richard K. Lyons, Andrew Kenan Rose and Andrew Kenan Rose
University of California, Berkeley and NUS Business SchoolUniversity of California - Haas School of Business

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22.

The Role of External Economies in U.S. Manufacturing

NBER Working Paper No. w3033
Number of pages: 32 Posted: 14 Apr 2007 Last Revised: 17 Apr 2022
Ricardo J. Caballero and Richard K. Lyons
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Berkeley
Downloads 52 (645,454)
Citation 1

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23.

Fixed Versus Flexible: Lessons from EMS Order Flow

NBER Working Paper No. w8491
Number of pages: 40 Posted: 28 Sep 2001 Last Revised: 15 Sep 2022
William P. Killeen, Richard K. Lyons and Michael Moore
Setanta Asset Management, University of California, Berkeley and University of Warwick - Warwick Business School
Downloads 47 (674,064)
Citation 6

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24.

Short and Long Run Externalities

NBER Working Paper No. w3810
Number of pages: 27 Posted: 24 Jul 2007 Last Revised: 01 Dec 2022
Eric J. Bartelsman, Ricardo J. Caballero and Richard K. Lyons
Vrije Universiteit Amsterdam, Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Berkeley
Downloads 44 (692,695)

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25.

Optimal Transparency in a Dealership Market with an Application to Foreign Exchange

Downloads 40 (719,025)

Optimal Transparency in a Dealership Market with an Application to Foreign Exchange

NBER Working Paper No. w4467
Number of pages: 48 Posted: 07 Nov 2007 Last Revised: 17 Sep 2022
Richard K. Lyons
University of California, Berkeley
Downloads 40 (737,135)
Citation 1

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Optimal Transparency in a Dealership Market with an Application to Foreign Exchange

Posted: 10 Sep 1999
Richard K. Lyons
University of California, Berkeley

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26.

Private Beliefs and Information Externalities in the Foreign Exchange Market

NBER Working Paper No. w3889
Number of pages: 30 Posted: 25 Jun 2004 Last Revised: 19 Aug 2022
Richard K. Lyons
University of California, Berkeley
Downloads 39 (725,786)

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27.

The Mutual Amplification Effect of Exchange Rate Volatility and Unresponsive Trade Prices

NBER Working Paper No. w2677
Number of pages: 24 Posted: 16 Jul 2004 Last Revised: 27 Oct 2022
Richard E. Baldwin and Richard K. Lyons
University of Geneva - Graduate Institute of International Studies (HEI) and University of California, Berkeley
Downloads 38 (732,814)

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28.

Floating Exchange Rates in Peru, 1950-54

NBER Working Paper No. w3775
Number of pages: 32 Posted: 15 Jan 2007 Last Revised: 27 Oct 2022
Richard K. Lyons
University of California, Berkeley
Downloads 36 (747,009)

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29.

Exchange Rate Hysteresis: the Real Effects of Large vs Small Policy Misalignments

NBER Working Paper No. w2828
Number of pages: 37 Posted: 23 Apr 2004 Last Revised: 25 Sep 2022
Richard E. Baldwin and Richard K. Lyons
University of Geneva - Graduate Institute of International Studies (HEI) and University of California, Berkeley
Downloads 33 (769,216)
Citation 2

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30.

Informational Integration and Fx Trading

Journal of International Money and Finance, Vol. 21, No. 6, 2002
Posted: 26 Jan 2011
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley

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Exchange rates, Order flow, Financial Integration

31.

Time-Varying Liquidity in Foreign Exchange

Journal of Monetary Economics, Vol. 49, No. 5, 2002
Posted: 26 Jan 2011
Martin D.D. Evans and Richard K. Lyons
Georgetown University - Department of Economics and University of California, Berkeley

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Foreign Exchange

32.

Information Externalities in the Microstructure of the Foreign Exchange Market

Posted: 02 Sep 1999
Richard K. Lyons
University of California, Berkeley

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33.

Optimal Transparency in a Dealer Market with Application to Foreign Exchange

JOURNAL OF FINANCIAL INTERMEDIATION
Posted: 23 Apr 1998
Richard K. Lyons
University of California, Berkeley

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34.

Profits and Position Control: A Week of FX Dealing

JOURNAL OF INTERNATIONAL MONEY & FINANCE
Posted: 16 Oct 1997
Richard K. Lyons
University of California, Berkeley

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35.

A Simultaneous Trade Model of the Foreign Exchange Hot Potato

JOURNAL OF INTERNATIONAL ECONOMICS
Posted: 22 Aug 1996
Richard K. Lyons
University of California, Berkeley

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