Research/Areas of Interest
Exchange rates
International capital movements
Federal Reserve and central bank policies
Macroeconomics
Tariffs and international trade
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Michael Klein
Professor
William L. Clayton Professor of International Economic Affairs
Professor, Economics, Arts and Sciences
Contact Information
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(617) 627-2718
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160 Packard Avenue
- View the full faculty profile
Education
- PhD, Columbia University, New York, United States
- BA, Brandeis University, Waltham, United States
Biography
Michael W. Klein is the William L. Clayton Professor of International Economic Affairs. His research and teaching focus on international macroeconomics. He is the founder and executive editor of EconoFact, a non-partisan website that provides economic analysis on timely policy issues. Additionally, he hosts the weekly podcast, EconoFact Chats, which has featured interviews with Nobel Laureates such as Paul Krugman, Claudia Goldin, and Simon Johnson.
Klein served as the chief economist in the Office of International Affairs of the United States Department of the Treasury from 2010-2011. He is a research associate of the National Bureau of Economic Research and has been a visiting scholar at the International Monetary Fund, the Board of Governors of the Federal Reserve, the Bank of England, the Bank of Israel, and the Federal Reserve Banks of Boston, New York, San Francisco, and Dallas. He is a frequent commentator in high profile media outlets and has written dozens of articles on topics such as exchange rate policy, international capital flows, the impact of trade on the U.S. labor market, and the determinants of foreign direct investment.
His research has been supported by grants from the Upjohn Institute for Employment Research and the Bill and Melinda Gates Foundation. EconoFact has received funding support from the Alfred P. Sloan Foundation, Peter G. Peterson Foundation, Annie E Casey Foundation, and Smith Richardson Foundation.
He is the author of "Exchange Rate Regimes in the Modern Era" (MIT Press, 2009), "Job Creation, Job Destruction, and International Competition" (W. E. Upjohn Institute for Employment Research), "Mathematical Methods for Economics" (Addison-Wesley), and the novel, "Something for Nothing" (MIT Press).
Klein served as the chief economist in the Office of International Affairs of the United States Department of the Treasury from 2010-2011. He is a research associate of the National Bureau of Economic Research and has been a visiting scholar at the International Monetary Fund, the Board of Governors of the Federal Reserve, the Bank of England, the Bank of Israel, and the Federal Reserve Banks of Boston, New York, San Francisco, and Dallas. He is a frequent commentator in high profile media outlets and has written dozens of articles on topics such as exchange rate policy, international capital flows, the impact of trade on the U.S. labor market, and the determinants of foreign direct investment.
His research has been supported by grants from the Upjohn Institute for Employment Research and the Bill and Melinda Gates Foundation. EconoFact has received funding support from the Alfred P. Sloan Foundation, Peter G. Peterson Foundation, Annie E Casey Foundation, and Smith Richardson Foundation.
He is the author of "Exchange Rate Regimes in the Modern Era" (MIT Press, 2009), "Job Creation, Job Destruction, and International Competition" (W. E. Upjohn Institute for Employment Research), "Mathematical Methods for Economics" (Addison-Wesley), and the novel, "Something for Nothing" (MIT Press).
Selected Publications
Fernández, A., Klein, M. W., Rebucci, A., Schindler, M., & Uribe, M. (2016). Capital control measures: A new dataset. IMF Economic Review, 64(3), 548-574. doi:10.1057/imfer.2016.11
Klein, M. W., & Shambaugh, J. C. (2015). Rounding the corners of the policy trilemma: Sources of monetary policy autonomy. American Economic Journal Macroeconomics, 7(4), 33-66. doi:10.1257/mac.20130237
Aker, J. C., Klein, M. W., O'Connell, S. A., & Yang, M. (2014). Borders, ethnicity and trade. Journal of Development Economics, 107, 1-16. doi:10.1016/j.jdeveco.2013.10.004
Klein, M. W. (2012). Capital controls: Gates versus walls. Brookings Papers on Economic Activity, (FALL), 317-367. doi:10.1353/eca.2012.0015
Klein, M. W., & Shambaugh, J. C. (2012). Exchange Rate Regimes in the Modern Era. Mit Press.
Klein, M. W., & Shambaugh, J. C. (2008). The dynamics of exchange rate regimes: Fixes, floats, and flips. Journal of International Economics, 75(1), 70-92. doi:10.1016/j.jinteco.2007.10.003
Goldberg, L. S., & Klein, M. W. (2005). Establishing Credibility: Evolving Perceptions of the European Central Bank.
Klein, M. W. (2004). Work and Play: International Evidence of Gender Equality in Employment and Sports. Journal of Sports Economics, 5(3), 227-242. doi:10.1177/1527002503257836
Klein, M. W., Peek, J., & Rosengren, E. S. (2002). Troubled banks, impaired foreign direct investment: The role of relative access to credit. American Economic Review, 92(3), 664-682. doi:10.1257/00028280260136309
Klein, M. W. (1996). Timing Is All: Elections and the Duration of United States Business Cycles. JOURNAL OF MONEY, CREDIT, AND BANKING, 28(1).