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Johri Alok, Professor | Chair of Graduate Studies, Department of Economics


Research Interests: Macroeconomics, Monetary Economics, Sovereign Defaults, Policy Reform, Closed and open economy business cycles.

Email: for Graduate Program matters



Ph.D. Boston University 1996


ECON 741- not offered in  2018-19

ECON 724- Winter 2019

ECON 742- not offered in  2018-19


Recent Research Papers

Keqiang Hou and A. Johri (2018) "Intangible Capital, the Labor Wedge and the Volatility of Corporate Profits," Review of Economic Dynamics, vol. 29, pages 216-234, July.

Gunn, C.M. and A. Johri (2018) Financial News, Banks and Business Cycles.Macroeconomic Dynamics, Volume 22, Issue 2. 26 pages.

Gunn, C.M. and A. Johri (2013) An expectations-driven interpretation of the "Great Recession." Journal of Monetary Economics, Elsevier, vol. 60(4), pages 391-407.

Johri, A., M-A Letendre and D. Luo  (2011) "Organizational Capital and the International Co-movement of Investment," Journal of Macroeconomics. Volume 33:4, 511-523.

Gunn, C.M. and A. Johri (2011) "News and Knowledge Capital," Review of Economic Dynamics.14 (1),  92-101.

Johri, A. (2009) "Delivering Endogenous Inertia in Prices and Output." Review of Economic Dynamics 12(4), 736-754.

Clarke, A.J. and A. Johri (2009) "Procyclical Solow Residuals without Technology Shocks," Macroeconomic Dynamics 13(3).

Johri, A. and A. Lahiri (2008) "Persistent Real Exchange Rates," Journal of International Economics. 76(2), 223-236.

Working Papers

  1. Alok Johri, Shahed K. Khan and Cesar Sosa-Padilla, 2018. "Interest Rate Uncertainty and Sovereign Default Risk,"
  2. Ionut Cotoc, Alok Johri and Cesar Sosa-Padilla, 2018. "Debt, Defaults and Dogma: politics and the dynamics of sovereign debt markets".
  3. Alok Johri & Md Mahbubur Rahman, 2017. "The Rise and Fall of India's Relative Investment Price: A Tale of Policy Error and Reform," Department of Economics Working Papers 2017-12, McMaster University, revised 03 Oct 2017.
  4. Alok Johri & Terry Yip, 2017. "Financial Shocks,Supply-chain Relationships and the Great Trade Collapse," Department of Economics Working Papers 2017-11, McMaster University.
  5. Alok Johri & Muhebullah Karimzada, 2016. "Learning Efficiency Shocks, Knowledge Capital and the Business Cycle: A Bayesian Evaluation," Department of Economics Working Papers 2016-11, McMaster University.
  6. Christopher M. Gunn & Alok Johri, 2011. "News, Intermediation Efficiency and Expectations-driven Boom-bust Cycles,"Department of Economics Working Papers 2011-02, McMaster University.
  7. Alok Johri & Bidyut Kumar Talukdar, 2011. "Organizational Capital and Optimal Ramsey Taxation," Department of Economics Working Papers 2011-09, McMaster University.