Karen K. Lewis

University of Pennsylvania - Finance Department

Professor of Finance

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

Centre for Economic Policy Research (CEPR)

London

United Kingdom

  • University of Pennsylvania - Finance Department

    • Email
    • Tel: 215-898-7637
    • Fax: 215-898-6200

  • Centre for Economic Policy Research (CEPR)

SCHOLARLY PAPERS

29

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SSRN CITATIONS
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Top 3,745

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118

CROSSREF CITATIONS

330

Scholarly Papers (29)

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1.

Differences of Opinion and International Equity Markets

Downloads 585 (81,142)
Citation 17

Differences of Opinion and International Equity Markets

Review of Financial Studies 30(3): 750–800, 2017, AFA 2011 Denver Meetings Paper
Number of pages: 70 Posted: 13 Mar 2010 Last Revised: 17 Apr 2017
Bernard Dumas, Karen K. Lewis and Emilio Osambela
INSEAD, University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 421 (119,829)

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Heterogeneous beliefs, capital flows, home-equity preference, cross-listing, international CAPM, international finance

Differences of Opinion and International Equity Markets

INSEAD Working Paper No. 2016/24/FIN
Number of pages: 70 Posted: 01 Jul 2011 Last Revised: 12 Apr 2016
Bernard Dumas, Karen K. Lewis and Emilio Osambela
INSEAD, University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 116 (408,660)
Citation 10

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Differences of Opinion and International Equity Markets

NBER Working Paper No. w16726
Number of pages: 71 Posted: 01 Feb 2011 Last Revised: 16 Mar 2023
Bernard Dumas, Karen K. Lewis and Emilio Osambela
INSEAD, University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 48 (687,356)

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2.

Who Holds Sovereign Debt and Why It Matters

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Who Holds Sovereign Debt and Why It Matters

Number of pages: 73 Posted: 01 Jun 2022 Last Revised: 24 Apr 2023
Xiang Fang, Bryan Hardy and Karen K. Lewis
The University of Hong Kong, Bank for International Settlements (BIS) - Monetary and Economic Department and University of Pennsylvania - Finance Department
Downloads 421 (120,480)

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Sovereign debt, Banks and Non-banks, Advanced Economies and Emerging Markets

Who Holds Sovereign Debt and Why it Matters

NBER Working Paper No. w30087
Number of pages: 43 Posted: 30 May 2022 Last Revised: 14 Apr 2023
Xiang Fang, Bryan Hardy and Karen K. Lewis
The University of Hong Kong, Bank for International Settlements (BIS) - Monetary and Economic Department and University of Pennsylvania - Finance Department
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Who Holds Sovereign Debt and Why it Matters

CEPR Discussion Paper No. DP17338
Number of pages: 67 Posted: 23 Jun 2022
Xiang Fang, Bryan Hardy and Karen K. Lewis
The University of Hong Kong, University of Maryland and University of Pennsylvania - Finance Department
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Advanced Economies and Emerging Markets, Banks and Non-banks, Investor demand, Sovereign debt

3.

Puzzles in International Financial Markets

NBER Working Paper No. w4951
Number of pages: 77 Posted: 13 Jul 2000 Last Revised: 14 Jul 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 217 (241,713)
Citation 10

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4.

How Can Asset Prices Value Exchange Rate Wedges?

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How Can Asset Prices Value Exchange Rate Wedges?

Number of pages: 76 Posted: 19 Sep 2022
Karen K. Lewis and Edith X. Liu
University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 58 (628,655)

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Exchange Rates, Financial Integration, Social Costs, Asset Prices

How Can Asset Prices Value Exchange Rate Wedges?

FEDS Working Paper No. 2022-75
Number of pages: 77 Posted: 11 Nov 2022
Karen K. Lewis and Edith X. Liu
University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 39 (749,416)

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Exchange rates and foreign exchange, Asset prices, Financial integration, Social costs

How Can Asset Prices Value Exchange Rate Wedges?

NBER Working Paper No. w30422
Number of pages: 42 Posted: 05 Sep 2022 Last Revised: 14 Apr 2023
Karen K. Lewis and Edith X. Liu
University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
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5.

Disaster Risk and Asset Returns: An International Perspective

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Citation 6

Disaster Risk and Asset Returns: An International Perspective

International Finance Discussion Paper No. 1199
Number of pages: 78 Posted: 02 Mar 2017
Karen K. Lewis and Edith X. Liu
University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 66 (587,702)

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rare disasters, Asset returns, International correlations

Disaster Risk and Asset Returns: An International Perspective

NBER Working Paper No. w23065
Number of pages: 77 Posted: 23 Jan 2017 Last Revised: 10 Jul 2023
Karen K. Lewis and Edith X. Liu
University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 22 (893,738)
Citation 6

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6.

International Home Bias in International Finance and Business Cycles

NBER Working Paper No. w6351
Number of pages: 70 Posted: 15 Sep 2000 Last Revised: 10 Nov 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 88 (491,168)
Citation 1

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7.

Trends in Expected Returns in Currency and Bond Markets

NBER Working Paper No. w4116
Number of pages: 47 Posted: 01 Aug 2000 Last Revised: 02 Oct 2022
Martin D.D. Evans and Karen K. Lewis
Georgetown University - Department of Economics and University of Pennsylvania - Finance Department
Downloads 72 (552,616)

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8.

Global Asset Pricing

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Global Asset Pricing

NBER Working Paper No. w17261
Number of pages: 50 Posted: 29 Jul 2011 Last Revised: 02 Mar 2023
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 69 (573,376)
Citation 1

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Global Asset Pricing

Annual Review of Financial Economics, Vol. 3, pp. 435-466, 2011
Posted: 10 Jan 2012
Karen K. Lewis
University of Pennsylvania - Finance Department

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9.

Is the International Diversification Potential Diminishing? Foreign Equity Inside and Outside the Us

NBER Working Paper No. w12697
Number of pages: 74 Posted: 20 Nov 2006 Last Revised: 13 Mar 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 59 (612,352)

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10.

Consumption, Stock Returns, and the Gains from International Risk-Sharing

NBER Working Paper No. w5410
Number of pages: 42 Posted: 01 Aug 2000 Last Revised: 15 Oct 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 56 (627,957)
Citation 1

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11.

Do Expected Shifts in Inflation Policy Affect Real Rates?

NBER Working Paper No. w4134
Number of pages: 50 Posted: 12 Apr 2004 Last Revised: 26 Oct 2022
Martin D.D. Evans and Karen K. Lewis
Georgetown University - Department of Economics and University of Pennsylvania - Finance Department
Downloads 53 (644,146)

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12.

Does Foreign Exchange Intervention Signal Future Monetary Policy?

NBER Working Paper No. w4298
Number of pages: 47 Posted: 12 Apr 2004 Last Revised: 01 Oct 2022
Graciela Kaminsky and Karen K. Lewis
George Washington University - Department of Economics and University of Pennsylvania - Finance Department
Downloads 49 (666,597)
Citation 5

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13.

What Can Explain the Apparent Lack of International Consumption Risk Sharing?

Downloads 47 (678,561)

What Can Explain the Apparent Lack of International Consumption Risk Sharing?

NBER Working Paper No. w5203
Number of pages: 38 Posted: 10 Jun 2000 Last Revised: 21 Sep 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 47 (693,783)
Citation 21

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What Can Explain the Apparent Lack of International Consumption Risk Sharing?

JOURNAL OF POLITICAL ECONOMY, Vol. 104, No. 2, April 1996
Posted: 29 May 1996
Karen K. Lewis
University of Pennsylvania - Finance Department

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14.

Do Stationary Risk Premia Explain it All? Evidence from the Term Struct

NBER Working Paper No. w3451
Number of pages: 41 Posted: 27 Apr 2000 Last Revised: 08 Dec 2022
Martin D.D. Evans and Karen K. Lewis
Georgetown University - Department of Economics and University of Pennsylvania - Finance Department
Downloads 45 (690,925)
Citation 4

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15.

Are Countries with Official International Restrictions "Liquidity Constrained?"

NBER Working Paper No. w5991
Number of pages: 40 Posted: 15 Jul 2000 Last Revised: 16 Nov 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 42 (710,110)

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16.

Are Forign Exchange Intervention and Monetary Policy Related and Does it Really Matter?

NBER Working Paper No. w4377
Number of pages: 44 Posted: 28 Dec 2006 Last Revised: 19 Jun 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 41 (716,904)

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17.

Peso Problems and Heterogeneous Trading: Evidence from Excess Returns in Foreign Exchange and Euromarkets

NBER Working Paper No. w4003
Number of pages: 43 Posted: 18 Apr 2007 Last Revised: 11 Dec 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 39 (730,553)

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18.

Why Doesn't Society Minimize Central Bank Secrecy?

NBER Working Paper No. w3397
Number of pages: 27 Posted: 18 Apr 2011 Last Revised: 15 Oct 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 38 (737,570)

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19.

Was There a "Peso Problem" in the U.S. Term Structure of Interest Rates:1979-1982?

NBER Working Paper No. w3282
Number of pages: 27 Posted: 14 Aug 2007 Last Revised: 22 Dec 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 38 (737,570)
Citation 4

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20.

International Consumption Risk is Shared after All: an Asset Return View

NBER Working Paper No. w17872
Number of pages: 71 Posted: 25 Feb 2012 Last Revised: 03 May 2023
Karen K. Lewis and Edith X. Liu
University of Pennsylvania - Finance Department and Board of Governors of the Federal Reserve System
Downloads 35 (759,062)

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21.

Learning About Intervention Target Zones

NBER Working Paper No. w3674
Number of pages: 35 Posted: 19 Jul 2010 Last Revised: 16 Jan 2022
Michael W. Klein and Karen K. Lewis
Tufts University - The Fletcher School of Law and Diplomacy and University of Pennsylvania - Finance Department
Downloads 33 (774,137)
Citation 1

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22.

Stochastic Regime Switching and Stabilizing Policies within Regimes

NBER Working Paper No. w5289
Number of pages: 36 Posted: 01 Jul 2000 Last Revised: 16 Dec 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 32 (781,718)

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23.

Do Foreign Firm Betas Change During Cross-Listing?

NBER Working Paper No. w21054
Number of pages: 57 Posted: 30 Mar 2015 Last Revised: 13 Jul 2023
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 25 (839,031)

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24.

Should the Holding Period Matter for the Intertemporal Consumption-Basedcapm?

NBER Working Paper No. w3583
Number of pages: 42 Posted: 13 Nov 2007 Last Revised: 17 Oct 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 25 (839,031)

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25.

Are the Gains from Foreign Diversification Diminishing? Assessing the Impact with Cross-Listed Stocks

NBER Working Paper No. w18627
Number of pages: 77 Posted: 22 Dec 2012 Last Revised: 26 May 2023
Karen K. Lewis and Sandy Lai
University of Pennsylvania - Finance Department and University of Hong Kong
Downloads 24 (847,867)
Citation 1

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26.

Occasional Interventions to Target Rates with a Foreign Exchange Application

NBER Working Paper No. w3398
Number of pages: 46 Posted: 18 Apr 2011 Last Revised: 16 Oct 2022
Karen K. Lewis
University of Pennsylvania - Finance Department
Downloads 22 (865,836)

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27.

Are Foreign Exchange Intervention and Monetary Policy Related and Does it Really Matter?

Posted: 12 May 2000
Karen K. Lewis
University of Pennsylvania - Finance Department

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28.

Do Expected Shifts in Inflation Affect Estimates of the Long Run Fisher Relation?

Posted: 26 Oct 1999
Martin D.D. Evans and Karen K. Lewis
Georgetown University - Department of Economics and University of Pennsylvania - Finance Department

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29.

Do Long-Term Swings in the Dollar Affect Estimates of the Risk Premia?

THE REVIEW OF FINANCIAL STUDIES, Vol. 8 No. 3
Posted: 23 Aug 1998
Martin D.D. Evans and Karen K. Lewis
Georgetown University - Department of Economics and University of Pennsylvania - Finance Department

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