Michael Klein

William L. Clayton Professor of International Economic Affairs, The Fletcher School of Law and Diplomacy, Tufts University
Chapter Member: Boston SSN
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About Michael

Klein's research focuses on international macroeconomics, which covers topics like international trade, exchange rates, unemployment, government budget policies, monetary policies, and international economic relations among countries. He has also worked on the link between labor markets and international factors like exchange rates and exporting.  Klein served as Chief Economist in the Office of International Affairs in the U.S. Treasury from June 2010 through December 2011. He has also been a visiting scholar at the Board of Governors of the Federal Reserve, the Federal Reserve Banks of Boston, New York, Dallas and San Francisco, the Bank of England, and the International Monetary Fund. He currently is a Research Associate of the National Bureau of the National Bureau of Economic Research and the Founder, Executive Editor, and Research Director of the website Econofact.


Economists' Letter on Recovery Policy

  • Elizabeth Oltmans Ananat
  • Peter Diamond
  • Darrick Hamilton
  • Carolyn J. Heinrich
  • Matthew Kraft
  • Alicia Sasser Modestino

In the News

Michael Klein quoted on consummating the largest SPAC deal in history for health management company MultiPlan by David Dayen, "Wall Street's Newest Way to Part Investors From Their Money " The American Prospect, August 6, 2020.
Michael Klein's research on tariffs discussed by Jason Margolis, "Economists to Trump: You’re Dead Wrong on Tariff Revenues," Pittsburgh NPR, August 7, 2018.
"What's the Problem with Low Inflation?," Michael Klein, Econofact, August 6, 2017.
"The Decline in the Dollar," Michael Klein (with Jay Shambaugh), Econofact, June 2, 2017.
"How to Bring Capital to Cuba," Michael Klein (with Pavel Vidal-Alejandro), Foreign Policy, March 24, 2016.
"Renminbi Devaluation," Michael Klein, Toronto Globe and Mail, August 13, 2015.
"What You May Not Know About China and Currency Manipulation," Michael Klein, The Wall Street Journal, May 22, 2015.
"Eurozone Recovery and Lessons About Austerity," Michael Klein, The Wall Street Journal, May 16, 2015.


"Exporting, Skills, and Wage Inequality" (with Christopher Moser and Dieter Urban). Labour Economics 25 (2013).

Shows that German exporting industries pay higher wages than firms that do not export, a result that has also been found in other countries.


"Job Creation, Job Destruction, and the Real Exchange Rate" (with Scott Schuh and Robert Triest). Journal of International Economics 59, no. 2 (2003).

Analyzes the role of international factors, especially exchange rate movements, on manufacturing jobs in the United States.

"Capital Controls: Gates versus Walls," Brookings Papers on Economic Activity, 2012.

Proposes a way to consider differences across types of policies that attempt to limit international trade assets.

"Rounding the Corners of the Policy Trilemma: Sources of Monetary Autonomy" (with Jay C. Shambaugh). American Economic Journal: Macroeconomics 7, no. 4 (2015): 33-66.

Shows the link between monetary policy, exchange rate policy, and policies towards international trade in assets.

Exchange Rate Regimes in the Modern Era (with Jay Shambaugh) (MIT Press, 2010).

Researches the role the exchange rate plays in trade, monetary policy, and macroeconomic outcomes.