Position(s) at the Institute

Professor, International Economics

Profile

Doctorat, Princeton University
Membre du corps enseignant depuis 2007, Il a précédemment été économiste au Département de recherche internationale de la Réserve fédérale de New York. Ses intérêts de recherche couvrent plusieurs aspects de la transmission internationale des fluctuations et politiques économiques: la globalisation financière et ses conséquences sur la transmission des fluctuations macroéconomiques; les déterminants de l’allocation des investissements financiers dans un contexte international et les conséquences sur les flux financiers; enfin, les déterminants de la dominance de certaines monnaies dans les échanges internationaux et les conséquences sur la conduite de la politique macroéconomique.

Areas of expertise

• Banques centrales
  
• Finance, marchés financiers, investissements internationaux
• Mondialisation
• Monnaies, taux de change
• Politique monétaire
• Amérique du Nord
• Europe de l'Ouest et Centrale

• Determinants of international portfolios.
• Impact of financial integration on the international transmission of economic fluctuations and policies.

Selected publications

• Composition of International Assets and the Long Run Current Account, Economic Notes by Banca Monte dei Paschi di Siena 37, 2008, pp.
• 283–313. A column based on this work appears on the Vox online forum: How do capital gains affect long run-current accounts?, October 11, 2008.
• (http://www.voxeu.org/index.php?q=node/2364)
• Vehicle currency use in international trade, with Linda Goldberg, Journal of International Economics 76, 2008, pp. 177-192.
• The Changing Nature of the U.S. Balance of Payments, with Rebecca Hellerstein, Current Issues in Economics and Finance 14 (4), 2008,
• Federal Reserve Bank of New York. A column based on this work appears on the Vox online forum: Financial factors and the current account: Is volatility a concern?, August 21, 2008 (http://www.voxeu.org/index.php?q=node/1559)
• Financial integration and the wealth effect of exchange rate fluctuations, Journal of International Economics 75, 2008, pp. 283-294.
• Exchange rate pass-through to trade prices and external adjustment, in IMF World Economic Outlook, ch.3 box 3.3., 2007, pp. 100-102.
• Borrowing without debt? Interpreting the U.S. international investment position, with Matthew Higgins and Thomas Klitgaard, Business Economics 42 (1), 2007, National Association for Business Economics, pp. 17-27. This paper was awarded an Abramson Scroll for outstanding articles by the National Association of Business Economics.
• On the distributional effects of exchange rate fluctuations, Journal of International Money and Finance 25, 2006, pp. 1207-1225.
• The international role of the dollar and trade balance adjustment, with Linda Goldberg, Group of Thirty Occasional Paper 71, 2006.
• Current account adjustment with high financial integration: A scenario analysis, with Michele Cavallo, Federal Reserve Bank of San Francisco
  
• Economic Review, 2006, pp. 31-46.
• Exchange rate pass-through and the welfare effect of the euro, with Michael Devereux and Charles Engel, International Economic Review 44, 2003, pp. 223-252.
• The role of consumption substitutability in the international transmission of shocks, Journal of International Economics 53, 2001, pp. 421-444. Reprinted in Open Economy Macroeconomics (N.C. Miller ed.), a contribution to The International Library of Critical Writings in Economics, 2006.

Listes de publications régulièrement mises à jour:

• Repec
• Vox
• Telos

Fellowship and activities

• Research Fellow, Center for Economic Policy Research, London
• Member of the American Economic Association and the European Economic Association

Documents