Research and Publications


Kelley, Donna, Majbouri, Mahdi, Randolph, Angela, (2021). Black Women Are More Likely to Start a Business than White Men, Harvard Business Review. May 11, 2021.  

Marthinsen, J. E., & Gordon, S. R. (2021). Hyperinflation, Optimal Currency Scopes, and a Cryptocurrency Alternative to Dollarization. The Quarterly Review of Economics and Finance.

Mancha, R., Nersessian, D., & Marthinsen, J.E. (2021). Reorienting the sharing economy for social benefit: the nonprofit digital platform business model. Social Responsibility Journal.

Simon, Jessica, Way, Megan (2021). Gendered Returns to Education for Self-Employed US Millennials: A Call for Research. Women and Global Entrepreneurship: Contextualizing Everyday Experiences,  Chapter 13, Pages 201-216. Routledge Studies in Entrepreneurship series.



Jones, K., (Forthcoming, Fall 2020). Populism and Trade. Oxford University Press.

Majbouri, M. (2020). Fertility and the puzzle of female employment in the Middle East and North Africa. Economics of Transition and Institutional Change, 28(2), 225-244.

Marthinsen, J. E. (2020). Demystifying Global Macroeconomics. Walter de Gruyter GmbH & Co KG. (Text Book)

Ray, S.C., Deb, A.K., Mukherjee, K. (2020). Unrestricted Geometric Distance Functions and the Geometric Young Productivity Index: An Analysis of Indian Manufacturing. Empirical Economics. Issue: Online First, Page: 1-32. Springer, link

Magnusson, J., Polutnik, L. & Ask, U. (2020). Semi-confusing Information Systems Revisited: The Role of Inefficiencies in Enacting Ambidexterity. Communications of the Association for Information Systems, 47(1), 25.

Johnson, P., Staveley-O’Carroll, J. (2020). An exchange rate risk experiment with multiple currencies. The Journal of Economic Education, 51(1), 19-30.

Frydman, R., Mangee, N., Stillwagon, J. R. (2020). How Market Sentiment Drives Forecasts of Stock Returns. Institute for New Economic Thinking Working Paper Series, (115).

Hill, K., Rodgers, V., Stillwagon, J., Tosti-Kharas, J., Wynstra, B., & Wynstra, E. B. B. (2020). Teaching Beyond the Horizon: Transdisciplinary Approaches. The Eugene O'Neill Review, 41(1), 69-91.


Blitz, A.E., Kazi, K. (2019). Mapping technology roadblocks and opportunities in the transportation revolution. Strategy & Leadership. Vol: 47, Issue: 4.

Blitz, A.E. (2019). Surviving Disruption: The Grocer's Tale. Journal of Business Strategy.

Gai, Y., Polutnik, L. (2019). A Lecture on the Pharmaceutical Industry in the United States. Journal of International Business Education. Vol: 14, Issue: 1, Page: 1-24. Neilson Journals Publishing. 

Gai, Y., Polutnik, L. (2019). Sovaldi: Pricing of New Products and Consequences. Journal of International Business Education. Vol: 14, Issue: 1, Page: 1-16. Neilson Journals Publishing.

Gai, Y., Pachamanova, D. (2019). Impact of the Medicare hospital readmissions reduction program on vulnerable populations. BMC health services research, 19(1), 837.

Gai, Y., Marthinsen, J.E. (2019). Medicaid Expansion, HIV Testing, and HIV-Related Risk Behaviors in the United States, 2010–2017. American Journal of Public Health. Vol: 109, Issue: 10, Page: 1404-1412.  

Gai, Y. (2019). Does State-Mandated Reporting work? The Case of Surgical Site Infection in CABG Patients. Applied Economics. Vol: 51, Issue: 56, Page: 5986-5998. 

Jones, K. (2019). Cuba, the centrally planned cigar, and its rivals. The World Economy42(10), 2900-2923.

Majbouri, M. (2019). Twins, family size and female labour force participation in Iran. Applied Economics, 51(4), 387-397.

Majbouri, M., & Fesharaki, S. (2019). Iran’s multi-ethnic mosaic: A 23-year perspective. Social Indicators Research, 145(3), 831-859.

Marthinsen, J.E., & Gordon, S. (2019). A theory of optimum cryptocurrency scope. Economics of Innovation and New Technology, 1-14.

Staveley-O’Carroll, J., & Staveley-O’Carroll, O. M. (2019). International risk sharing in overlapping generations models. Economics Letters, 174, 157-160.

Simon, J.K., Way, M.M., Polutnik, L., Albright, J. (2019). Linking College Mission Statements to Cost Containment Strategies. International Journal of Educational Management. Vol: 33, Issue: 4, Page: 792-804.

Furnagiev, S., Stillwagon, J. (2019). Currency Risk Premia: Perceptions of Downside Risk and Deviations from Benchmark Values. International Journal of Finance & Economics, 24(1), 33-48.

Stillwagon, J., Sullivan, P. (2019). Markov switching in exchange rate models: will more regimes help?. Empirical Economics, 1-24.


Blitz, A. (2018). Corporate life and death: who succumbs, who survives during disruption?. Journal of Business Strategy.

Jones, K. (2018). Cuba, Trade Dependency and the GATT/WTO System. International Advances in Economic Research. Vol: 24, Page: 325-338.

Jones, K. (2018). Patterns of Investor-State Dispute Settlement Decisions. International Advances in Economic Research. Vol: 24, Issue: 1, Page: 79-96.

Marthinsen, J.E. (2018). Risk Takers: Uses and Abuses of Financial Derivatives (Third Edition). Page: 365. DE G (Walter de Gruyter, GmbH & Co KG.). (Book)

Marthinsen J.E. (2018). Amaranth Advisors, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 1, pp. 95-100), Thousand Oaks, CA: SAGE (Refereed) (2018).

Marthinsen J.E. (2018). Banking Secrecy, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 1, pp. 205-209), Thousand Oaks, CA: SAGE (Refereed) (2018).

Marthinsen J.E. (2018). Central Banks, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 1, pp. 409-413), Thousand Oaks, CA: SAGE (Refereed) (2018).

Marthinsen J.E. (2018)Doubling Strategies, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 6, pp. 3196-3201), Thousand Oaks, CA: SAGE (Refereed) (2018).

Marthinsen J.E. (2018). Dumping, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 2, pp. 991-994), Thousand Oaks, CA: SAGE (Refereed) (2018).

Marthinsen J.E. (2018). Offshoring and Reshoring, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 5, pp. 2532-2534), Thousand Oaks: SAGE (Refereed) (2018).

Marthinsen J.E. (2018)Société Générale, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 6, pp. 3196-3201), Thousand Oaks, CA: SAGE (Refereed)

Marthinsen J.E. (2018). Strategic Default, In Robert W, Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 7, pp. 3272-3275), Thousand Oaks, CA: SAGE (Refereed) (2018).

Marthinsen J.E. (2018). Virtual Currencies, In Robert W. Kolb (Ed.), Encyclopedia of Business Ethics and Society (Second ed., vol. 7, pp. 3552-3558), Thousand Oaks, CA: SAGE (Refereed) (2018)

Ray, S. C., Mukherjee, K., & Venkatesh, A. (2018). Nonparametric measures of efficiency in the presence of undesirable outputs: a by-production approach. Empirical Economics, 54(1), 31-65.

Staveley-O’Carroll, J., & Staveley-O’Carroll, O. M. (2018). Exchange rate targeting in the presence of foreign debt obligations. Journal of Macroeconomics, 56, 113-134.

Staveley-O'Carroll, J. (2018). Integrating graphing assignments into a money and banking course using FRED. The Journal of Economic Education, 49(1), 72-90.

Stillwagon, J. R. (2018). TIPS and the VIX: Spillovers from financial panic to breakeven inflation in an automated, nonlinear modeling framework. Oxford Bulletin of Economics and Statistics, 80(2), 218-235.

Stillwagon, J. R. (2018). Are Risk Rremia Related to Real Exchange Rate Swings? Evidence from I (2) CVARs with Survey Expectations. Macroeconomic Dynamics, 22(2), 255-278.

Frydman, R., Stillwagon, J. R. (2018). Fundamental factors and extrapolation in stock-market expectations: The central role of structural change. Journal of Economic Behavior & Organization, 148, 189-198.

Juselius, K., Stillwagon, J. R. (2018). Are outcomes driving expectations or the other way around? An I (2) CVAR analysis of interest rate expectations in the dollar/pound market. Journal of International Money and Finance, 83, 93-105.

Way, M.M. (2018). Family Economics and Public Policy, 1800s - Present. Palgrave Macmillan. (Book)


Blitz, A. (2017). Lessons from the steel industry: If you can’t compete on price, innovate your way to value-added differentiation. Strategy & Leadership. Vol: 45, Issue: 5, Page: 7. 

Gai, Y., Feng, L. (2017). Relationship between Pharmacists and Adult Influenza Vaccination after Controlling Individual and Neighbourhood Effects. Journal of the American Pharmacists Association. Vol: 57, Issue: 4, Page: 474-482.e12. 

Gai, Y., Feng, L. (2017). Local Labor Market Condition and Seasonal Flu Vaccination. Atlantic Economic Journal. Vol: 45, Page: 181–199. Springer. 

Jones, K. (2017). Revolutionary Cuba and the GATT/WTO System. Journal of World Trade. Vol: 51, Issue: 5, Page: 1-26. Kluwer Law.

Majbouri, M. (2017). Income mobility and the Arab spring: the case of Egypt and Jordan. Applied Economics Letters, 24(15), 1070-1074.

Majbouri, M. (2017). Oil, laws, and female labor force participation. International Advances in Economic Research, 23(1), 91-106.

Marthinsen, J. E. (2017). International macroeconomics for business and political leaders (Vol. 1). Taylor & Francis. (Book)

Marthinsen J.E. (2017). Regulating Home Equity Protection Companies and Contracts: Are States Making ‘the Best’ an Enemy of ‘the Good?’ Connecticut Insurance Law Journal, Winter 2017.

Marthinsen J.E. (2017). India’s Demonetization: What Were They Thinking? Babson Insight, April 2017.

Marthinsen J.E. (2017). China’s Miracle Economy (Case study); The Collection, August 2017 (Co-author: Nestor Azcona), Publisher: Babson College, Distributed by: Harvard Business Publishing and The Case Centre Babson Catalog #: BAB346.

Ray, S. C.,Mukherjee, K. (2017). A reverse directional distance function to reconcile between competing efficiency goals: an application to Indian manufacturing. Indian Economic Review, 52(1-2), 103-126.

Ray, S. C., Mukherjee, K. (2017). Data Envelopment Analysis with Aggregated Inputs and a Test of Allocative Efficiency When Input Prices Vary Across Firms. Data Envelopment Analysis Journal, 2(2), 141-161.

Staveley-O’Carroll, J., & Staveley-O’Carroll, O. M. (2017). Impact of pension system structure on international financial capital allocation. European Economic Review, 95, 1-22.

Way, M.M., Polutnik, L. (2017). Apple Watch (A) - The Launch. Case: The Babson Collection.


Blitz, A. (2016). Beset by the digital revolution successful retailers embrace technology that enhances customer value. Strategy & Leadership. Vol: 44, Issue: 6. Emerald. 

Shen, M., Gai, Y., Feng, L. (2016). Limited Access to Healthcare among Hispanics in the US-Mexico Border Region. American Journal of Health Behavior. Vol: 40, Issue: 5.

Majbouri, M. (2016). Oil and entrepreneurship. Energy Policy, 94, 10-15.

Majbouri, M. (2016). Against the wind: labor force participation of women and economic instability in Iran. Feminist Economics, 22(4), 31-53.

Marthinsen J.E. (2016). Offshoring Doesn’t Deserve its Bad Reputation, Babson Insight, (Co-author: Nestor Azcona), Winter 2016

Staveley-O'Carroll, J. (2016). A classroom market for extra credit: A semester-long experiment. The Journal of Economic Education, 47(4), 324-337.

Way, M., Gai, Y., & Polutnik, L. (2016). Compensation and employment impact of a full-time MBA program. International Advances in Economic Research, 22(1), 49-63.

Simon, J. K., & Way, M. M. (2016). Why the gap? Determinants of self-employment earnings differentials for male and female millennials in the US. Journal of Family and Economic Issues, 37(2), 297-312.

Stillwagon, J. R. (2016). Non-linear exchange rate relationships: An automated model selection approach with indicator saturation. The North American Journal of Economics and Finance, 37, 84-109.

Polutnik, L., Way, M.M., Simon, J.K. (2016). Containing costs while enhancing the educational mission: A study of best practices for small private colleges. Davis Educational Foundation.


Gai, Y., & Minniti, M. (2015). External financing and the survival of black-owned start-ups in the US. Eastern Economic Journal41(3), 387-410.

Gai, Y., Minniti, M. (2015). Health Insurance, Job Lock, and the Supply of Self-Employment. Journal of Small Business Management. Vol: 53, Issue: 2, Page: 558-580. 

Jones, K., & Gai, Y. (2015). Patterns of Representation in WTO Committee Chairs, 1995–2012. World Trade Review, 14(3), 419-450.

Jones, K. A. (2015). Reconstructing the World Trade Organization for the 21st century: an institutional approach. Oxford University Press, USA. (Book)

Majbouri, M. (2015). Female labor force participation in Iran: a structural analysis. Review of Middle East Economics and Finance, 11(1), 1-23.

Majbouri, M. (2015). Calculating the income counterfactual for oil producing countries of the MENA region. Resources Policy, 44, 47-56.

Marthinsen J.E. (2015) Managing in a Global Economy: Demystifying International Macroeconomics. Cengage, 2015 (Textbook).

Ricciardi, J.M. (2015). Marx on Financial Intermediation: Lessons from the French Crédit Mobilier in the New York Daily Tribune. Science & Society: a Journal of Marxist Thought and Analysis. Vol: 79, Issue: 4, Page: 497-526. 

Staveley-O’Carroll, J. (2015). The impact of classroom demonstrations and online discussions on student achievement. International Review of Economics Education20, 46-58.

de Araujo, P., Mykhaylova, O., Staveley-O’Carroll, J. (2015). Financial liberalization and patterns of international portfolio holdings. Empirical Economics, 49(1), 213-234.

Simon, J.K., Way, M.M. (2015). Working from home and the gender gap in earnings for self-employed US Millennials. Gender in Management: An International Journal. Vol: 30, Issue: 3, Page: 206-224. 

Stillwagon, J. R. (2015). Can the consumption capital asset pricing model account for traders' expected currency returns?. Review of International Economics, 23(5), 1044-1069.

Stillwagon, J. R. (2015). Testing the expectations hypothesis with survey forecasts: the impacts of consumer sentiment and the zero lower bound in an I (2) CVAR. Journal of International Financial Markets, Institutions and Money, 35, 85-101.