Kristin J. Forbes

Massachusetts Institute of Technology (MIT) - Sloan School of Management

Room E62-416

Cambridge, MA 02142

United States

http://web.mit.edu/kjforbes/www

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

Bank of England - Monetary Policy Committee

Threadneedle Street

London EC2R 8AH

United Kingdom

SCHOLARLY PAPERS

35

DOWNLOADS
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Top 2,813

in Total Papers Downloads

10,548

CITATIONS
Rank 609

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Top 609

in Total Papers Citations

817

Scholarly Papers (35)

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act

Journal of Finance, forthcoming, MIT Sloan Research Paper No. 4741-09, CELS 2009 4th Annual Conference on Empirical Legal Studies Paper
Number of pages: 56 Posted: 04 Feb 2009 Last Revised: 04 Jun 2010
Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
University of Chicago Law School, Harvard Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,248 (11,881)
Citation 12

Abstract:

Repatriations, financial constraints, governance, international taxation, flypaper effect

Watch What I Do, Not What I Say: the Unintended Consequences of the Homeland Investment Act

NBER Working Paper No. w15023
Number of pages: 45 Posted: 03 Jun 2009
Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
University of Chicago Law School, Harvard Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 67 (286,270)
Citation 12

Abstract:

One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smaller Traded Firms

MIT Sloan Working Paper No. 4273-02
Number of pages: 53 Posted: 28 Dec 2002
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,262 (11,691)
Citation 44

Abstract:

Capital Controls, Encaje, Chile, Firm-financing Constraints

One Cost of the Chilean Capital Controls: Increased Financial Constraints for Smalles Traded Firms

NBER Working Paper No. w9777
Number of pages: 51 Posted: 15 Jun 2003
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 26 (425,218)
Citation 44

Abstract:

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations

EFA 2004 MAASTRICHT
Number of pages: 42 Posted: 15 Jun 2004
Mihir A. Desai, C. Fritz Foley and Kristin J. Forbes
Harvard Business School - Finance Unit, Harvard Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,109 (14,306)
Citation 56

Abstract:

Investment, leverage, foreign direct investment, currency crises, financial constraints, depreciations

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Depreciations

The Review of Financial Studies, Vol. 21, Issue 6, pp. 2857-2888, 2008
Posted: 15 Dec 2008
Mihir A. Desai, C. Fritz Foley and Kristin J. Forbes
Harvard Business School - Finance Unit, Harvard Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management

Abstract:

F23, F31, G15, G31, G32

A Decomposition of Global Linkages in Financial Markets Over Time

MIT Sloan Working Paper No. 4414-03
Number of pages: 54 Posted: 27 Feb 2003
Kristin J. Forbes and Menzie David Chinn
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 823 (22,487)
Citation 61

Abstract:

Trade Linkages, Bank Lending, Factor Models, Financial Integration, Interdependence

A Decomposition of Global Linkages in Financial Markets Over Time

NBER Working Paper No. w9555
Number of pages: 53 Posted: 15 Mar 2003
Kristin J. Forbes and Menzie David Chinn
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Wisconsin, Madison - Robert M. La Follette School of Public Affairs and Department of Economics
Downloads 36 (380,181)
Citation 61

Abstract:

5.
Downloads 658 ( 31,330)
Citation 28

Why Do Foreigners Invest in the United States?

MIT Sloan Research Paper No. 4701-08
Number of pages: 51 Posted: 14 Apr 2008 Last Revised: 30 Jun 2009
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 635 (32,333)
Citation 28

Abstract:

home bias, foreign investment, portfolio flows, capital flows, U.S. current account

Why Do Foreigners Invest in the United States?

NBER Working Paper No. w13908
Number of pages: 54 Posted: 04 Apr 2008
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 23 (441,848)
Citation 28

Abstract:

Capital Controls and Macroprudential Measures: What Are They Good For?

MIT Sloan Research Paper No. 5061-13
Number of pages: 56 Posted: 07 Mar 2014
Kristin J. Forbes, Marcel Fratzscher and Roland Straub
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin and European Central Bank (ECB)
Downloads 647 (31,515)

Abstract:

capital controls, macroprudential measures, propensity-score matching, selection bias, capital flows, emerging markets

Capital Controls and Macroprudential Measures: What are They Good for?

CEPR Discussion Paper No. DP9798
Number of pages: 58 Posted: 02 Jun 2014
Kristin J. Forbes, Marcel Fratzscher and Roland Straub
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin and European Central Bank (ECB)
Downloads 0

Abstract:

capital controls, capital flows, emerging markets, macroprudential measures, propensity-score matching, selection bias

7.
Downloads 572 ( 37,760)
Citation 23

How Do Large Depreciations Affect Firm Performance?

MIT Sloan Working Paper No. 4379-02
Number of pages: 40 Posted: 11 Sep 2002
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 543 (39,851)
Citation 23

Abstract:

Depreciations, Currency Crises, Exchange-rate Exposure

How Do Large Depreciations Affect Firm Performance?

NBER Working Paper No. w9095
Number of pages: 39 Posted: 01 Aug 2002
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 29 (410,313)
Citation 23

Abstract:

8.

Capital Flow Waves: Surges, Stops, Flights and Retranchment

MIT Sloan Working Paper No. 4927-11, Darden Business School Working Paper No. 1923259
Number of pages: 59 Posted: 14 Jan 2012
Kristin J. Forbes and Francis E. Warnock
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Virginia - Darden Business School
Downloads 571 (34,301)
Citation 2

Abstract:

capital flows, sudden stops, bonanzas, surges, global financial crisis, risk, capital controls, pull versus push

Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia

MIT Sloan Working Paper No. 4242-01
Number of pages: 34 Posted: 28 Apr 2002
Kristin J. Forbes and Tilak Abeysinghe
Massachusetts Institute of Technology (MIT) - Sloan School of Management and National University of Singapore (NUS) - Department of Economics
Downloads 475 (47,317)
Citation 10

Abstract:

Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia

NBER Working Paper No. w8600
Number of pages: 34 Posted: 17 Nov 2001
Tilak Abeysinghe and Kristin J. Forbes
National University of Singapore (NUS) - Department of Economics and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 41 (361,577)
Citation 10

Abstract:

Trade Linkages and Output-Multiplier Effects: A Structural VAR Approach with a Focus on Asia

Review of International Economics, Vol. 13, No. 2, pp. 356-375, May 2005
Number of pages: 20 Posted: 29 Apr 2005
Tilak Abeysinghe and Kristin J. Forbes
National University of Singapore (NUS) - Department of Economics and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 23 (441,848)
Citation 10

Abstract:

10.

Capital Flow Volatility and Contagion: A Focus on Asia

MIT Sloan Research Paper No. 4979-12
Number of pages: 28 Posted: 05 Dec 2012
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 377 (56,035)

Abstract:

international capital flows, contagion, capital flow volatility, Asia, surges, stops, leverage, retrenchment

The Microeconomic Evidence on Capital Controls: No Free Lunch

MIT Sloan Working Paper No. 4532-05
Number of pages: 39 Posted: 25 Apr 2005
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 309 (79,238)
Citation 30

Abstract:

capital controls, capital account liberalization, capital mobility

The Microeconomic Evidence on Capital Controls: No Free Lunch

NBER Working Paper No. w11372
Number of pages: 39 Posted: 04 Jul 2005
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 59 (306,133)
Citation 30

Abstract:

Pick Your Poison: The Choices and Consequences of Policy Responses to Crises

MIT Sloan Research Paper No. 5062-13
Number of pages: 46 Posted: 12 Dec 2013
Kristin J. Forbes and Michael W. Klein
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Tufts University - The Fletcher School of Law and Diplomacy
Downloads 309 (79,238)

Abstract:

Crisis response, depreciation, capital controls, interest rate policy, foreign exchange reserves, propensity score matching

Pick Your Poison: The Choices and Consequences of Policy Responses to Crises

NBER Working Paper No. w20987
Number of pages: 49 Posted: 02 Mar 2015
Kristin J. Forbes and Michael W. Klein
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Tufts University - The Fletcher School of Law and Diplomacy
Downloads 8 (527,539)

Abstract:

Pick Your Poison: The Choices and Consequences of Policy Responses to Crises

IMF Economic Review, Vol. 63, Issue 1, pp. 197-237, 2015
Number of pages: 41 Posted: 29 May 2015
Kristin J. Forbes and Michael W. Klein
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Tufts University - The Fletcher School of Law and Diplomacy
Downloads 0

Abstract:

13.

The 'Big C': Identifying and Mitigating Contagion

MIT Sloan Research Paper No. 4970-12
Number of pages: 53 Posted: 21 Sep 2012
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 309 (62,891)
Citation 4

Abstract:

Contagion

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

MIT Sloan Research Paper No. 4962-12
Number of pages: 48 Posted: 12 May 2012
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 256 (97,575)
Citation 3

Abstract:

capital controls, externalities, spillovers, portfolio effects, signalling, mutual funds, Brazil, emerging markets

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

ECB Working Paper No. 1456
Number of pages: 52 Posted: 20 Aug 2012
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 31 (400,994)
Citation 3

Abstract:

capital controls, externalities, spillovers, portfolio effects, signalling, mutual funds, Brazil, emerging markets

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

NBER Working Paper No. w18052
Number of pages: 48 Posted: 12 May 2012
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 11 (511,275)
Citation 3

Abstract:

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

CEPR Discussion Paper No. DP8979
Number of pages: 50 Posted: 28 Sep 2012
Kristin J. Forbes, Marcel Fratzscher and Roland Straub
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin and European Central Bank (ECB)
Downloads 4 (547,924)
Citation 3

Abstract:

Brazil, capital controls, emerging markets, externalities, mutual funds, portfolio effects, signalling, spillovers

Capital Controls: Mud in the Wheels of Market Discipline

MIT Sloan Working Paper No. 4454-03
Number of pages: 24 Posted: 11 Feb 2004
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 220 (114,055)
Citation 6

Abstract:

emerging markets, capital controls, market discipline

Capital Controls: Mud in the Wheels of Market Discipline

NBER Working Paper No. w10284
Number of pages: 24 Posted: 01 Feb 2004
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 32 (396,621)
Citation 6

Abstract:

16.

No Contagion, Only Interdependence: Measuring Stock Market Co-Movements

NBER Working Paper No. w7267
Number of pages: 42 Posted: 10 Feb 2000
Kristin J. Forbes and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 171 (135,770)
Citation 366

Abstract:

The Shocks Matter: Improving Our Estimates of Exchange Rate Pass-Through

Number of pages: 55 Posted: 15 Nov 2015
Kristin J. Forbes, Ida Hjortsoe and Tsvetelina Nenova
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 102 (219,859)

Abstract:

Exchange rate pass-through, import prices, consumer prices, inflation, vector autoregression.

The Shocks Matter: Improving Our Estimates of Exchange Rate Pass-Through

MIT Sloan Research Paper No. 5149-15
Number of pages: 56 Posted: 18 Nov 2015
Kristin J. Forbes, Ida Hjortsoe and Tsvetelina Nenova
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 59 (306,133)

Abstract:

Exchange rate pass-through, import prices, consumer prices, inflation, vector autogression

The Spillovers, Interactions, and (Un)Intended Consequences of Monetary and Regulatory Policies

MIT Sloan Research Paper No. 5163-16
Number of pages: 50 Posted: 08 Feb 2016
Kristin J. Forbes, Dennis Reinhardt and Tomasz Wieladek
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 83 (252,176)

Abstract:

Capital requirements, Funding for Lending Scheme, financial deglobalisation

The Spillovers, Interactions, and (Un)Intended Consequences of Monetary and Regulatory Policies

NBER Working Paper No. w22307
Number of pages: 60 Posted: 07 Jun 2016
Kristin J. Forbes, Dennis Reinhardt and Tomasz Wieladek
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 11 (511,275)

Abstract:

19.

Contagion in Latin America: Definitions, Measurement, and Policy Implications

NBER Working Paper No. w7885
Number of pages: 38 Posted: 01 Sep 2000 Last Revised: 19 Oct 2010
Kristin J. Forbes and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 56 (309,885)
Citation 14

Abstract:

20.

The Asian Flu and Russian Virus: Firm-Level Evidence on How Crises are Transmitted Internationally

NBER Working Paper No. w7807
Number of pages: 65 Posted: 27 Jul 2000
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 53 (309,885)
Citation 23

Abstract:

Are Trade Linkages Important Determinants of Country Vulnerability to Crises?

NBER Working Paper No. w8194
Number of pages: 66 Posted: 24 Mar 2001
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 43 (354,722)
Citation 28

Abstract:

Are Trade Linkages Important Determinants of Country Vulnerability to Crises?

MIT Sloan Working Paper No. 4349-01
Posted: 11 Aug 2001
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management

Abstract:

22.

Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises

NBER Working Paper No. w10545
Number of pages: 42 Posted: 18 Jun 2004
Mihir A. Desai, C. Fritz Foley and Kristin J. Forbes
Harvard Business School - Finance Unit, Harvard Business School and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 36 (357,980)
Citation 51

Abstract:

23.

Capital Flow Waves: Surges, Stops, Flight, and Retrenchment

NBER Working Paper No. w17351
Number of pages: 60 Posted: 29 Aug 2011
Kristin J. Forbes and Francis E. Warnock
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Virginia - Darden Business School
Downloads 29 (375,739)
Citation 33

Abstract:

Cheap Labor Meets Costly Capital: The Impact of Devaluations on Commodity Firms

NBER Working Paper No. w9053
Number of pages: 44 Posted: 11 Jul 2002
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 29 (410,313)
Citation 11

Abstract:

Cheap Labor Meets Costly Capital: The Impact of Devaluations on Commodity Firms

Journal of Development Economics, Vol. 69, No. 2, 2002
Posted: 07 Jan 2003
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management

Abstract:

Currency Crises, Devaluations, Commodities, Exchange-rate Exposure

25.

Debt- and Equity-Led Capital Flow Episodes

NBER Working Paper No. w18329
Number of pages: 34 Posted: 18 Aug 2012
Kristin J. Forbes and Francis E. Warnock
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Virginia - Darden Business School
Downloads 14 (332,810)
Citation 5

Abstract:

Current Account Deficits During Heightened Risk: Menacing or Mitigating?

NBER Working Paper No. w22741
Number of pages: 54 Posted: 17 Oct 2016
Kristin J. Forbes, Ida Hjortsoe and Tsvetelina Nenova
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 6 (537,931)

Abstract:

Current Account Deficits During Heightened Risk: Menacing or Mitigating?

The Economic Journal, Vol. 127, Issue 601, pp. 571-623, 2017
Number of pages: 53 Posted: 25 May 2017
Kristin J. Forbes, Ida Hjortsoe and Tsvetelina Nenova
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 0

Abstract:

27.

The "Big C": Identifying Contagion

NBER Working Paper No. w18465
Number of pages: 44 Posted: 20 Oct 2012
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 5 (495,489)
Citation 5

Abstract:

28.

Capital Flow Management Measures: What are They Good for?

NBER Working Paper No. w20860
Number of pages: 57 Posted: 20 Jan 2015
Kristin J. Forbes, Marcel Fratzscher and Roland Straub
Massachusetts Institute of Technology (MIT) - Sloan School of Management, DIW Berlin and European Central Bank (ECB)
Downloads 3 (527,766)

Abstract:

29.

Shocks versus Structure: Explaining Differences in Exchange Rate Pass-Through across Countries and Time

Bank of England Working Paper No. 50
Number of pages: 54 Posted: 11 Jul 2017
Kristin J. Forbes, Ida Hjortsoe and Tsvetelina Nenova
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 0 (505,126)

Abstract:

Pass-Through, Exchange Rate, Price Level, Inflation, Monetary Policy

30.

A Trendy Approach to UK Inflation Dynamics

Bank of England Working Paper No. 49
Number of pages: 47 Posted: 21 Jun 2017
Kristin J. Forbes, Lewis Kirkham and Konstantinos Theodoridis
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 0 (454,356)

Abstract:

UK, Inflation, UCSV, Exchange Rate, Slack, Inflation Expectations, Monetary Policy

31.

Banking De-Globalisation: A Consequence of Monetary and Regulatory Policies?

BIS Paper No. 86h
Number of pages: 8 Posted: 05 Oct 2016
Kristin J. Forbes, Dennis Reinhardt and Tomasz Wieladek
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 0 (354,637)

Abstract:

32.

Much Ado About Something Important: How Do Exchange Rate Movements Affect Inflation?

The Manchester School, Vol. 84, Issue S1, pp. 15-41, 2016
Number of pages: 27 Posted: 05 Aug 2016
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 0 (557,390)

Abstract:

33.

​Current Account Deficits During Heightened Risk: Menacing or Mitigating?

MIT Sloan Research Paper No. 5167-16
Number of pages: 52 Posted: 25 May 2016
Kristin J. Forbes, Ida Hjortsoe and Tsvetelina Nenova
Massachusetts Institute of Technology (MIT) - Sloan School of Management, Bank of England and Bank of England
Downloads 0 (263,630)

Abstract:

current account, risk, international investment income, valuation effects

34.

No Contagion, Only Interdependence: Measuring Stock Market Comovements

Journal of Finance, Vol. 43, No. 5, October 2002
Posted: 25 Oct 2002
Kristin J. Forbes and Roberto Rigobon
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management

Abstract:

Contagion, Correlations, Heteroscedasticity, Interdependence, Comovement, Currency Crises, Asian Crisis, Mexican Crisis

35.

A Reassessment of the Relationship Between Inequality and Growth

American Economic Review, 2000
Posted: 15 Feb 2000
Kristin J. Forbes
Massachusetts Institute of Technology (MIT) - Sloan School of Management

Abstract: