Other

• We Need a New Growth Compact, Finance & Development Magazine, June 2025. Based on my speech at the Oxford Union, Feb. 2025.

• Inflation's Rise and Fall, Finance & Development Magazine, September 2024. Main authors: M. Dao, D. Leigh and P. Mishra

• Shifting Geopolitical Tectonic Plates, Straight Talk, Finance & Development Magazine, June 2022

• How to Prevent a Sovereign Debt Disaster,  with Patrick Bolton, Lee C. Buchheit, Mitu Gulati, Chang-Tai Hsieh, Ugo Panizza and Beatrice Weder di Mauro, Foreign Affairs, June 4, 2020

• Born out of Necessity: a debt standstill for COVID-19. with Patrick Bolton, Lee C. Buchheit, Mitu Gulati, Chang-Tai Hsieh, Ugo Panizza and Beatrice Weder di Mauro, CEPR Policy Insight N. 103, April 2020 

• Flatten the Curve of Infection and the Curve of Recession at the Same Time, Foreign Affairs, March 26, 2020

• Euro area architecture: What reforms are still needed, and why, a VoxEU update on the report by the 7+7 on Euro area reform. May 2019

• Qualifications, not passport, should determine ECB board appointments. Op-ed in Le Monde with Agnès Bénassy-Quéré, Jacques Delpla, Thomas Philippon and Charles Wyplosz, Jan. 20. 2018

• Reconciling risk sharing with market discipline: A constructive approach to euro area reform, CEPR Policy Insight 91, a new report by 7+7 French and German economists on Euro-area reforms. Vox-EU Executive Summary here. January 2018

• The Safe Asset Shortage, the Rise of Mark-ups and the Decline in the Labour Share, VoxEU column, with Ricardo Caballero and Emmanuel Farhi, December 2017

• A resilient Euro needs Franco-German compromise, piece signed by 15 leading French and German economists calls for major reform of the eurozone architecture. Published in Le Monde and Frankfurter Allgemeine Zeitung, Sept. 29, 2017.

• Brexit: Whither the Pound?, with Galina Hale, San Francisco Federal Reserve Economic Letter, April 17, 2017. The persistent depreciation of the British pound since the Brexit vote suggests that U.K. economic conditions will be weakened over the long run following the separation from the EU. This projection of a persistent economic loss is based on the expected reversal of earlier gains from trade with other EU members and reduced cross-border labor flows.

• Appel de quarante économistes : pourquoi nous soutenons Emmanuel Macron, Le Monde, April 12 2017

• The Structure of the International Monetary System, NBER Reporter, 2016(1).

• On the Global ZLB Economy, VoxEU column, with Ricardo Caballero and Emmanuel Farhi, November 2016

• The Greek Crisis: an Autopsy, VoxEU column, with Thomas Philippon and Dimitri Vayanos, August 2016

• A proposal to restructure Greek Banks and allow Greece to remain in the Eurozone, with Jacques Delpla, July 6, 2015.

• L'Euro dans la Guerre des Monnaies, Jan 2014, (in French; English version here) Note of the French Council of Economic Advisers with Agnes Bénassy-Quéré, Philippe Martin and Guillaume Plantin. Where we argue that since the Fall of 2012 the ECB has followed a markedly less expansionary policy than the Fed, the BOE or the BOJ. We argue that the ECB should pursue more aggressive policies such as purchases of asset-backed securities, targeted long-term refinancing operations, and forward guidance. The note finds argues that such a policy would also lead to a weakening of the Euro, with an estimated positive impact on the region's exports. See also this VOX-EU column.

• Francois Hollande, super-keynesian, with Philippe Martin; Le Monde, January 27, 2014 (in French). Where we argue that the Hollande `responsibility pact' is essentially an expansionary fiscal devaluation, and not the austerity policy it is often incorrectly portrayed to be.

• Compléter l'Euro, March 2013, (in French; English version here) Note of the French Council of Economic Advisers with Patrick Artus, Agnès Benassy-Quéré, Laurence Boone, Jacques Cailloux, Jacques Delpla, Emmanuel Farhi, Jean Tirole and Guntram Wolff. Where we argue that completing the Euro requires (a) completing the banking union; (b) improving fiscal governance by strengthening the role of independent fiscal councils and of the European parliament; (c) reforming labor markets by introducing a European unemployment insurance tied to the adoption of a flexible European employment contract. See also "L'union monétaire n'est pas condamnée à l'echec" published in Libération, April 17 2013

• Compétitivité: un bien étrange débat, with Philippe Martin; Libération, November 4, 2012 (in French). Where we argue that the discussion in France about restoring competitiveness is all muddled!

• Global Imbalances and Global Liquidity, in Asia's Role in the Post-Crisis Global Economy, Asian Economic Policy Conference, R. Glick and M. Spiegel eds., Federal Reserve Bank of San Francisco, February 2012.

• Understanding Past and Future Financial Crises, with Maury Obstfeld; What explains the different effects of the crisis around the world? This vox-eu column compares the 2007-09 crisis to earlier episodes of banking, currency, and sovereign debt distress and identifies domestic-credit booms and real currency appreciation as the most significant predictors of future crises, in both advanced and emerging economies. It argues these results could help policymakers determine the need for corrective action before crises hit.

• Comment eviter l'effondrement de l'Euro , with Philippe Martin and Thomas Philippon; Le Monde, October 18, 2011 (in French). Where we argue that sequencing is important and fiscal reform should come first.

• Strong action necessary to douse Greek flames , with Agnès Bessay-Quéré, Peter Bofinger, Elie Cohen, Lars Feld, Wofgang Franz, Jean Pisani-Ferry, Hélène Rey, Christoph Schmidt and Beatrice Weder di Mauro; Financial Times, Les Echos, FT Deutschland, September 27, 2011.

• Reforming the International Monetary System , with Emmanuel Farhi and Hélène Rey; CEPR eReport, September 2011 (also available in French as Réformer le Système Monétaire International, Rapport du CAE, 2011). See also the voxEU column summarizing the report (September 19, 2011). [Media Coverage: Wall Street Journal.]

• 2011 International Symposium of the Banque de France, Session I, "What Imbalances after the Crisis?", March 2011. (also available in french.)

• Prepared Remarks for the Financial Crisis Inquiry Commission Forum, Washington DC, February 26-27, 2010. See the final report of the commission here.

• Global Imbalances and Financial Factors, Review of Economic Dynamics Newsletter, April 2006

Co-editor, American Economic Review, 2019-2022

Director, NBER International Finance and Macroeconomics Program , 2017-2022

Managing Editor, Journal of International Economics, 2017-2019

Member of the French Council of Economic Advisors, 2012-2013.

Member of the Scientific Committee, CEPII, 2011--2019.

Editor-in-chief, IMF Economic Review, 2009-2016.

Associate Editor, Journal of International Economics, 2003-2008

Member of the Scientific Committee of the Banque de France, July 2004-2013

Associate Editor, Journal of the European Economic Association, 2004-2008

Panel Member, Economic Policy, 2004-2005

Program Committee member, European Econometric Society 2007, Budapest

Program Committee member, Econometric Society 2005 World Congress, London

Program Committee member, Society of Economic Dynamics 2004 Meeting, Florence

Research Associate, National Bureau of Economic Research

•  International Finance and Macroeconomics (1998--);

•  Economics Fluctuations and Growth (2001--);

•  Asset Pricing (2006--)

Research Fellow, Center for Economic Policy research, International Macroeconomics (1999--)

Research Fellow, International Growth Center.

• Co-editor, American Economic Review, 2019-2022

• International Finance and Macroeconomics Program director, National Bureau of Economic Research, 2017-2022

• Commissioned paper, 6th Asian Monetary Policy Forum, Singapore, 2019

• Managing Editor, Journal of International Economics, Elsevier, 2017-2019

• Public Lecture, Melbourne University, August 2017

• Columbia University, SEPA lecture, 2017, 2018, 2019

• Plenary Lecture, Banco Central do Brasil, May 2017

• Lecturer, International Monetary Fund Institute, April 2017

• Plenary Lecture Central Bank of Chile, October 2016

• Lecturer, International Monetary Fund Institute, April 2014

• Speaking Engagement, Associés en Finance, February 2013

• Lecturer, International Monetary Fund Institute, Nov. 2012

• Invited Speaker, BIS Annual Conference, Lucerne, July 2012

• Gersenzee, Summer School, August 2011

• Speaking Engagement, Ernst & Young France, December 2011

• Invited Speaker, Asia Economic Policy Conference, Federal Reserve Bank of San Francisco, Nov. 2011

• Visiting Scholar, Banco Central de Chile, Apr. 2010

• Plenary Speaker, AXA IM Economic Symposium, Mar. 17 2011

• Speaking Engagement, The Capital Group, Feb. 2011

• Lecturer, International Monetary Fund Institute, Jan. 2011

• Visiting Lecturer, Paris School of Economics, Jun. 2010

• World Bank DEC Lecture, "Imbalances, Global Financial Stability and Growth in a Post-Crisis World", Apr. 2010.

• Research Grant on "External Volatility and Macro Insurance," International Growth Center, RA-2009-11-002, Jun. 2010-Mar. 2012

• Collaborative Research Grant: International Prices, Costs and Mark-ups, National Science Fondation, SES0820241, 2008-2011

• Editor-in-chief, IMF Economic Review, 2009-2016

• Visiting Researcher, Federal Reserve Bank of San Francisco, 2008-