Stephen Ross Yeaple

Contact Information

The Pennsylvania State University

Department of Economics

520 Kern Building

University Park, PA 16801

Telephone: (814)-865-5452



Ph.D. University of Wisconsin - Madison, 2000

M.S., Economics, University of Wisconsin – Madison, 1998

M.A. Economics, New York University, 1995

B.A., Economics, Swarthmore College, 1989

Professional Appointments

Professor, The Pennsylvania State University (2014 – present)

Associate Professor, The Pennsylvania State University (2008 – 2014)

Associate Professor, University of Colorado at Boulder (2007 – 2008)

Visiting Assistant Professor, Princeton University (2006-2007)

Assistant Professor, University of Pennsylvania (2000-2007)

Research Associate, Emerging Markets, Smith Barney (1994-1995)

Economist, Federal Reserve Bank of New York (1989-1994)


Other Affiliations

Co-Editor, Journal of International Economics, 2012 – 2018.

Board of Editors, American Economic Review, 2010-2012.

Associate Editor, Journal of International Economics, 2005-2012.

Editorial Assistant, Canadian Journal of Economics, 2007-2010.

Research Associate, National Bureau of Economic Research, ITI Program, Current

Research Affiliate, Ifo Institute, 2009-present.

Unpaid Sworn Employee of the Bureau of Economic Analysis, Current.

Unpaid Sworn Employee of the Census Bureau, Current.


Awards and Grants

National Science Foundation Research Grant (SES-1360209, 2014-2017), joint with Wolfgang Keller

National Science Foundation Research Grant (SES-0422778, 2004-2007), joint with Volker Nocke

Peter Kenen Fellowship, Princeton University (2006)

Bhagwati Prize for the best paper in the Journal of International Economics, 2005-2006

University of Pennsylvania Research Foundation Award (2004)

Teaching Awards

Outstanding Undergraduate Instructor, Penn State University, 2008-2014, 2019

Kravis Award for Outstanding Teaching, University of Pennsylvania (2003)


Working Papers

“Inefficient Labor Market Sorting” (with Carsten Eckel) Conditionally accepted at the Journal of Economic Theory.

"Bilateral Economies of Scope," (with Amber Li, Sichuang Xu, and Tengyu Zhao) revision requested at the Review of Economics and Statistics.

“Cross Country Income Differences and the Distinction between Cognitive and Non-cognitive Human Capital” (with Chong Xiang)

"Multinationals, Markets, and Mark-Ups," (with Wolfgang Keller).

"Colocation of Production and Innovation: Evidence from the United States" (with Teresa Fort, Wolfgang Keller, Peter Schott, and Nick Zolas)

Refereed Publications

“Scale, Scope, and the International Expansion Strategies of Multiproduct Firms,” Review of International Economics, 2023.

"Quality, Variable Mark-ups, and Welfare: A Quantitative General Equilibrium Analysis of Export Prices," (with Haichao Fan, Yao Li, and Sichuang Xu), Journal of International Economics, 2020.

Innovation and Production in the Global Economy” (with Costas Arkolakis, Natalia Ramondo, and Andres Rodriguez-Clare), American Economic Review, 2018, 108(8): 2128-2173. 

"On the Relationship Between Quality and Productivity: Evidence from China's Accession to the WTO." (with Haichao Fan and Amber Li), Journal of International Economics, 2018, 110(1): 28-49. 

“Trade Liberalization, Quality, and Export Prices” (with Haichao Fan and Amber Li), Review of Economics and Statistics, 2015, 97(5): 1033-1051.

 “Globalization and Multiproduct Firms” (with Volker Nocke), International Economic Review, 2014, 55(4): 993-1018.

 “The Gravity of Knowledge” (with Wolfgang Keller), American Economic Review, 2013, 103(4): 1414-1444.

 “Multinational Enterprises, International Trade, and Technology Diffusion: A Firm-level Analysis of the Productivity Effects of Foreign Competition in the United States” (with Wolfgang Keller), Review of Economics and Statistics, 2009, 91(4): 821–831.

 Firm Heterogeneity and the Structure of U.S. Multinational Activity: An Empirical Analysis, Journal of International Economics, 2009, 78(2): 206-215.

  “International Knowledge Sourcing: Evidence from U.S. Firms Expanding Abroad” (with Wilbur Chung), Strategic Management Journal, 2008, 29(11): 1207-1224.

 “An Assignment Theory of Foreign Direct Investment (with Volker Nocke),” Review of Economic Studies, 2008, 75(2): 529-557.

  “Cross-Border Mergers and Acquisitions versus Greenfield Foreign Direct Investment: The Role of Firm Heterogeneity” (with Volker Nocke), Journal of International Economics, 2007, 72(2): 336-365.

 “International Productivity Differences, Infrastructure, and Comparative Advantage” (with Steve Golub), Review of International Economics, 2007, 15(2): 223-242.

 “A Simple Model of Firm Heterogeneity, International Trade, and Wages,” Journal of International Economics, 2005, 65(1): 1-20.

-          Lead article and winner of the Bhagwati Prize 2007.

 “Exports versus FDI with Heterogeneous Firms(with Elhanan Helpman and Marc Melitz), American Economic Review, 2004, 94(1): 300-316.

-          Reprinted in Greenaway, David and Holger Gorg, Globalization and Productivity, Vol. II, Edward Elgar Publishing, 2008.

 “The Complex Integration Strategies of Multinational Firms and Cross-Country Dependencies in the Structure of Foreign Direct Investment,” Journal of International Economics, 2003, 60(2): 293-314.

-          Reprinted in Greenaway, David and Holger Gorg, Globalization and Productivity, Vol. II, Edward Elgar Publishing, 2008.

 The Role of Skill Endowments in the Structure of U.S. Outward Foreign Direct Investment,” Review of Economics and Statistics, 2003, 85(3): 726-734.

Other Journal Articles and Book Chapters

"The Innovation Activities of Multinational Enterprises and the Demand for Skilled-Worker, Non-Immigrant Visas." in Global Talent Flows, Gordon Hanson, William Kerr eds. 2017.

Multinationals and the International Organization of Firms,” (with Pol Antras) Handbook of International Economics, Elsevier, 2014.

The Multinational Firm,” Annual Review of Economics, 2013, 5: 193-217.

"Innovation and Production in the Global Economy," (with Costas Arkolakis, Natalia Ramondo, and Andres Rodriguez Clare." VoxEU, October 2018.

"Trade Liberalization, Quality Upgrading, and Export Prices" (with Haichao Fan and Amber Li) , VoxEU, September 2014. 

“The Limits of Offshoring” (with Wolfgang Keller), VoxEU, March 2009.

 “Firm Heterogeneity, Central Locations, and the Structure of Foreign Direct Investment,” chapter in Elhanan Helpman, Dalia Marin, Thierry Verdier (eds.), 2008, The Organization of Firms in a Global Economy, Cambridge, MA:Harvard University Press.

 “Offshoring, Foreign Direct Investment and the Structure of U.S. Trade,” Journal of the European Economic Association, 2006, 4(2-3), 602-611.

 “How do Lower Japanese Asset Prices affect Financial Markets around the Pacific” (with Robert McCauley) Federal Reserve Bank of New York Quarterly Review, 1994.

Comments and Book Reviews

“Review of Multinational Enterprise and Economic Analysis, 3rd Edition,” by Richard Caves, Journal of International Economics, 2008, 75(2): 383-385.

“Facts and Fallacies about U.S. FDI in China: Comment on Branstetter and Foley,” in Robert Feenstra and Shang-Jin Wei (eds.), 2009, China’s Growing Role in World Trade, University of Chicago Press.