Contact Information
michael.leahy@frb.gov

Fields of Interest
International Finance
Financial Markets

Education
Ph.D., Economics, University of Wisconsin-Madison, 1987
M.S., Economics, University of Wisconsin-Madison, 1982
B.A., Economics, Carleton College, 1977

Professional Experience
Board of Governors of the Federal Reserve System, 1986-present
Senior Economist/Principal Administrator, Organization for Economic Cooperation and Development, 1999-2001
Research Assistant, Board of Governors of the Federal Reserve System, 1981-1983

Selected Publications

• Contributions of Financial Systems to Growth in OECD Countries (with Sebastian Schich, Gert Wehinger, Florian Pelgrin, and others). OECD Economics Department Working Papers, vol. 280. Paris, France: OECD, 2001.
• The Sovereignty Option: Market Views on the Quebec Referendum (with Charles P. Thomas), International Finance Discussion Papers 555. Washington: Board of Governors of the Federal Reserve System, 1996.
• ''The Profitability of U.S. Intervention in the Foreign-Exchange Markets,'' Journal of International Money and Finance, vol. 14 (December 1995), pp. 823-44.
• ''Bank Positions and Forecasts of Exchange Rate Movements,'' in Barry Schachter, ed., Derivatives, Regulation, and Banking. Amsterdam: Elsevier Science B.V., 1997.
• ''The Dollar as an Official Reserve Currency under EMU,'' Open Economies Review, vol. 7 (October 1996), pp. 371-90.
• The Usefulness of P* Measures for Japan and Germany (with Linda S. Kole), International Finance Discussion Papers 414. Washington: Board of Governors of the Federal Reserve System, 1991.
• Determining Foreign Exchange Risk and Bank Capital Requirements, International Finance Discussion Papers 400. Washington: Board of Governors of the Federal Reserve System, 1991.
• The Effects of Exchange-Rate Variability on Output and Employment (with Matthew B. Canzoneri, Peter B. Clark, and Thomas C. Glaessner), International Finance Discussion Papers 240. Washington: Board of Governors of the Federal Reserve System, 1984.
• ''New Summary Measures of the Foreign Exchange Value of the Dollar,'' Federal Reserve Bulletin, vol. 84 (October 1998), pp. 811-818.