1978, BA, Florida International University (honours); 1980, MA, 1981, MPhil and 1988, PhD, Columbia University. Chief Economist and Vice-President, Bear Stearns; Senior Policy Adviser and Deputy Director, International Monetary Fund; Professor and Director, Center for International Economics, University of Maryland; Dennis Weatherstone Chair, Peterson Institute for International Economics. Member: National Bureau of Economic Research, Centre for Economic Policy; Council on Foreign Relations. Federal Reserve Bank of New York Advisory Panel, honorary member, Latin American and Caribbean Economic Association. Author on topics in international finance and macroeconomics. Co-Author of “This Time is Different: Eight Centuries of Financial Folly” and “Assessing Financial Vulnerability: An Early Warning System for Emerging Markets”. Recipient in 2018 of the King Juan Carlos Prize in Economics.
Economies across the globe face a daunting challenge: the highest global debt levels seen in half a century. As The Aftermath of Debt Surges points out, policymakers need to prepare for t...
Ya antes de la pandemia había signos de un posible próximo encarecimiento mundial de los alimentos. Los fenómenos meteorológicos extremos inducidos por el cambio climático se han vuelto m...
Even before the pandemic, there were signs that global food prices could soon surge. Extreme weather events induced by climate change have become more common. African swine fever wiped ou...
The COVID-19 pandemic has pushed humanity toward the worst global recession in modern times. Pressure on public finances has become enormous, particularly in developing countries that wer...
La pandemia de la COVID-19 empujó a la humanidad hacia la peor recesión mundial de la era moderna. La presión sobre la finanzas públicas se tornó enorme, especialmente en los países en ví...
À l’heure où le virus du COVID-19 se propage à travers le monde, la paralysie économique et le chômage sont voués à lui emboîter le pas. Les retombées économiques de la pandémie pour la p...
Conforme el virus de la COVID‑19 se propaga por el mundo, la parálisis económica y el desempleo van detrás. Pero las consecuencias económicas de la pandemia serán probablemente mucho peor...
As the COVID-19 virus spreads globally, economic paralysis and unemployment follow in its wake. But the economic fallout of the pandemic in most emerging and developing economies is likel...
Italy’s per capita GDP in 2018 is about 8% below its level in 2007, the year before the global financial crisis triggered the Great Recession. And the International Monetary Fund’s projec...
El precio en la bomba de gasolina superior alcanzó los 3 dólares por galón en gran parte de Estados Unidos en las últimas semanas, lo que sorprende a los consumidores pero no a los analis...
The primary focus of this year’s Federal Reserve Bank of Kansas City symposium in Jackson Hole, Wyoming, which convenes the world’s leading central bankers, was not explicitly monetary po...
Every spring, international bureaucrats flock to Washington, DC, as reliably as swallows to Capistrano, for the annual meetings of the International Monetary Fund and the World Bank, wher...
Since the end of World War II, the United States’ share in world GDP has fallen from nearly 30% to about 18%. Other advanced economies have also experienced sustained declines in their re...
Until the global financial crisis of 2008-2009, deflation had all but disappeared as a concern for policymakers and investors in the advanced economies, apart from Japan, which has been s...
Only a small group of central banks refrain from intervening in the foreign-exchange market to stabilize their currencies’ exchange rate or coax it in the desired direction. Even when the...
