Publications

• International Investment Barriers in General Equilibrium, with Peter Sellin, The Journal of International Economics, vol. 34, no. 1/2, 1993, 137-152.
• Nontraded Assets in Incomplete Markets: Pricing and Portfolio Choice, with Lars E. O. Svensson, The European Economic Review – Special Issue on Finance, vol. 37, no. 5, 1993, 1149-1168.
• Capital Income Taxation and International Portfolio Choice, The Journal of Public Economics, vol. 53, no. 2., 1994, 205-222.
• U.S. Equity Investment and Emerging Stock Markets, with Linda L. Tesar, The World Bank Economic Review – Special Issue on Portfolio Investment in Developing Countries, vol. 9, no.1, 1995, 109-129.
• Home Bias and High Turnover, with Linda L. Tesar, The Journal of International Money and Finance, vol. 14, 1995, 467-492.
• Information, Liquidity and Asset Trading in a Random Matching Game, with Hugo A. Hopenhayn, The Journal of Economic Theory, vol. 68, no. 2, 1996, 349-379.
• U.K. and U.S. Trading of British Cross-Listed Stocks: An Intraday Analysis of Market Integration, with Allan W. Kleidon, The Review of Financial Studies, vol. 9, no. 2, 1996, 615-659.
• Does Risk Sharing Motivate Interdealer Trading? with Peter C. Reiss, The Journal of Finance, vol. 53, no. 5, 1998, 1657-1703.
• The Trades of NYSE Floor Brokers, with George Sofianos, The Journal of Financial Markets, 2003, 139-176.
• NYSE Order Flow, Spreads, and Information, The Journal of Financial Markets 6, 2003, 309-335.
• Anonymity, Adverse Selection, and the Sorting of Interdealer Trades, with Peter C. Reiss, The Review of Financial Studies vol. 18, no. 2, 2005, 599-636.
• Why Do Larger Orders Receive Discounts on the London Stock Exchange?  with Dan Bernhardt, Vladimir Dvoracek, and Eric Hughson, The Review of Financial Studies vol. 18, no. 4, 2005, 1343-1368.
• Short-Sale Strategies and Return Predictability, with Karl B. Diether and Kuan-Hui Lee, The Review of Financial Studies vol. 22, no. 2, 2009, 575-607.
• It’s SHO Time! Short-sale Price-tests and Market Quality, with Karl B. Diether and Kuan-Hui Lee, The Journal of Finance vol. 64, no. 1, 2009, 37-73.
• Dark Pool Trading Strategies, Market Quality, and Welfare, with Sabrina Buti and Barbara Rindi, The Journal of Financial Economics, vol. 124, no. 2, 2017, 244-265.
• The Twilight Zone: Regulatory Regimes in the OTC Markets, with Ulf Brüggeman, Aditya Kaul, and Christian Leuz,  The Review of Financial Studies, vol. 31, no. 3, 2018, 898-942.
• What Explains Differences in Finance Research Productivity during the Pandemic? with Brad M. Barber, Wei Jiang, Adair Morse, Manju Puri, and Heather Tookes, The Journal of Finance, August 2021, Vol. 7, No. 4, 1655-1697.
• Diving into Dark Pools, with Sabrina Buti and Barbara Rindi, Financial Management Vol. 51, No. 4, March 2022, 961-994.
• Tick Size, Trading Strategies and Market Quality, with Sabrina Buti, Barbara Rindi, and Yuanji Wen, Management Science, July 2022, vol. 69, no.7, 3818-3837.
• Reusing Natural Experiments, with Davidson Heath, Matthew C. Ringgenberg, and Mehrdad Samadi, August 2023, The Journal of Finance, vol. 78, no. 4, 2329-2364.
• Non-Standard Errors, with Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, et al., June 2024, The Journal of Finance, vol. 79, no. 3, 2339-2390.
• The Retail Execution Quality Landscape, with Anne Haubo Dyhrberg and Andriy Shkilko, June 2025, Journal of Financial Economics, vol. 168, 104051.

 Publications in Books

• International Equity Transactions and U.S. Portfolio Choice, with Linda L. Tesar, in Jeffrey Frankel Ed, Internationalization of Equity Markets, NBER Project Report, University of Chicago Press, 1994, 185-216.
• Transaction Costs in Dealer Markets: Evidence from The London Stock Exchange, with Peter C. Reiss, in Andrew Lo ed., The Industrial Organization and Regulation of the Securities Industry, University of Chicago Press, 1996, 125-176.
• The Internationalization of Global Securities Markets Since the 1987 Crash, with Linda L. Tesar, in R.E. Litan and A.M. Santomero Eds, Brookings-Wharton Papers on Financial Services, vol. 1, 1998, 281-372.

 Other Materials

• International Capital Markets: Controls, Taxes and Resource Allocation, Institute for International Economics Studies, University of Stockholm, Monograph Series No. 18, 1990
• How Much International Investment is Enough?, with Linda L. Tesar, Canadian Investment Review, Summer, 1995, 51-54.
• Scania AB, 1996, Case Study of a Global IPO, 1996.
• Discussion of “The competitive effects of US decimalization: Evidence from the US-listed Canadian stocks” by Henry Oppenheimer and Sanjiv Sabherwal, 2003, The Journal of Banking & Finance, 27 (9), 1911-1916.
• Comment on “Some Evidence that a Tobin Tax on Foreign Exchange Transactions may Increase Volatility” by Robert Z. Aliber, Bhagwan Chowdhry, and Shu Yan, 2003, European Finance Review, 7(3), 511-514.
• 2021 års ekonomipris till David Card, Joshua Angrist och Guido Imbens, with Tommy Andersson, Peter Fredriksso, John Hassler, Per Johansson, Per Krusell, Eva Mörk, and Jacob Svensson, Ekonomisk Debatt, vol 8, 2021, 5-17.
• 2022 års ekonomipris till Ben Bernanke, Douglas Diamond, and Philip Dybvig, with Tommy Andersson, Tore Ellingsen, John Hassler, Per Krusell, and Per Strömberg, Ekonomisk Debatt, vol 8, 2022, 6-15.
• 2024 års ekonomipris till Daron Acemoglu, Simon Johnson och James A Robinson, with Jakob Svensson, Jan Teorell, John Hassler, Kerstin Enflo, Per Johansson, Per Krusell, Peter Fredriksson, Randi Hjalmarsson, Timo Boppart, Tommy Andersson, Ekonomisk Debatt, vol 8, 2024, 6-15.