Carol L Osler

Martin and Ahuva Gross Professor of Financial Markets and Institutions in the Brandeis International Business School

Departments/Programs

Economics
International Business School

Degrees

Princeton University, Ph.D.
Swarthmore College, B.A.

Expertise

Market Microstructure, Exchange Rate Dynamics, Behavioral Finance, Open Economy Macroeconomics
Workplace Bullying

Profile

Professor Osler's research currently focuses on the microeconomics of financial markets, with a special focus on the foreign exchange market. In addition to fundamental contributions to "financial market microstructure," she has provided critical insights for the design of exchange-rate models that generate improved empirical support. Professor Osler's research includes fundamental contributions to our understanding of the nature and influence of imperfect rationality in financial markets. Her research in the 1990s highlighted the importance of financial markets for real economic activity.
.Professor Osler has also published academic work in the discipline of Organizational Behavior, specifically the issue of workplace bullying.
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Professor Osler currently teaches the two courses. "Behavioral Finance and Economics" discusses how specific psychological heuristics and biases influence behavior and market equilibria. "Applied International Macroeconomics" helps students develop the skills and knowledge to carry out enlightened macroeconomic analysis of real countries. This course builds on Professor Osler's experience as a practicing economist at the Federal Reserve Bank of New York. Professor Osler has also taught at Columbia University, the Amos Tuck School at Dartmouth College, the Kellogg School of Management, and the Norwegian School of Business. Webpage

Courses Taught

BUS	109a	Human Psychology and Financial Decision Making
ECON	202a	Applied International Macroeconomics
ECON/FIN	209a	Behavioral Finance and Economics
FIN	230a	Trading and Exchanges

Awards and Honors

IBS Teaching Award (2018)

Market Technicians Association Recognition Award (2013)

IBS Teaching Award (2008)

Scholarship

Osler, Carol L. "Workplace Bullying: Nature, Consequences, and Recommended Policies." Journal of Organizational Psychology (2021). (forthcoming)

Osler, Carol L. "Price discovery in two‐tier markets." International Journal of Finance and Economics (2020). (forthcoming)

Osler, Carol L. "Book Review: The Exchange Rate in a Behavioral Finance Framework." Journal of International Economics (2007). (forthcoming)

Osler, Carol L. ""The Fix is In: how banks allegedly rigged the US$5.3 trillion foreign exchange market"." The Conversation: Academic rigor, journalistic flair November 13 2014, 5.44am EST: 2.

Osler, Carol L. "Greece illustrates the importance of staying within economic limits." http://blogs.lse.ac.uk/europpblog (2015): <http://blogs.lse.ac.uk/europpblog/?s=osler>.

Osler, Carol L. "Reading between the lines of Greece’s bailout: debt relief is inevitable – just not yet." The Conversation (2015): <http://theconversation.com/reading-between-the-lines-of-greeces-bailout-debt-relief-is-inevitable-just-not-yet-44744>.

Osler, Carol L. (with Dagfinn Rime and Michael King). "The market microstructure approach to foreign exchange: Looking back and looking forward." Journal of International Money and Finance 38. (2013): 95-119.

Osler, Carol L. (with Xuhang Wang). "The Microstructure of Currency Markets,." Market Microstructure in Emerging and Developed Markets,. Ed. Kent Baker and Halil Kiymaz, Eds.. John Wiley & Sons, Inc., 2013. Chapter 5.

Osler, Carol L; Jennifer Bender; David Simon. "Noise Trading and Illusory Correlations in U.S. Equity Markets." Review of Finance 17. 2 (2013): 625-652.

Osler, Carol L. "“Market Microstructure and the Profitability of Currency Trading,”." Annual Review of Finance and Economics 4. 1 (2012): 469-495.

Osler, Carol L. (with Dagfinn Rime and Michael King). "Exchange Market Structure, Players, and Evolution." Handbook of Exchange Rates. 1st ed. vol. 1 Ed. James, J., Ian Marsh, Lucio Sarno. New York, London: Wiley and Sons, 2012. 1-25.

Osler, Carol L. (with Thomas Oberlechner). "Survival of Overconfidence in Currency Markets”." Journal of Financial and Quantitative Analysis. (2012).

Osler, Carol L. "Price Discovery in Currency Markets." Journal of International Money and Finance 30. 8 (2011): 1696-1718.

Osler, Carol L. (with Tanseli Savaser and Tan Thang Nguyen). "Asymmetric Information and the Foreign-Exchange Trades of Global Custodial Banks." Sixth Annual Central Bank Workshop on the Microstructure of Financial Markets, New York, New York. October 7, 2010.

Osler, Carol L. (with Tanseli Savaser). "“Extreme Returns: The Case of Currencies,"." Journal of Banking and Finance 35. (2011): 2868-2880.

Osler, Carol L. "Liquidity Dynamics in Limit Order Markets Under Asymmetric Information." Journal of Banking and Finance 34. 11 (2010): 2665-2677.

Osler, Carol L, Bruce Mizrach. "Foreign Exchange Microstructure: A Survey." Encyclopedia of Complexity and System Science. First ed. 10 vols. 2008.

Osler, Carol L. "Macro Lessons from Microstructure Osler." International Journal of Finance and Economics 11. 1 (2006): 55-80.

Osler, Carol L. "Stop-Loss Orders and Price Cascades in Currency Markets." Journal of International Money and Finance 24. 2 (2005): 219-241.

Osler,Carol L. "Currency Orders and the Predictive Success of Technical Analysis." Journal of Finance (2003).