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Paul Romer and Greg Mankiw in a discussion at one of the South-Western, Cengage Learning Teaching Conferences.
Workshops on Bounded Rationality in Choice, Firms in the Global Economy, International Capital Flows, and Theoretical and Experimental Macroeconomics.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
As the EBRD’s Chief Economist, Sergei Guriev is responsible for advising the President and other senior members of the Bank’s management team on economic issues of strategic or operational relevance pertaining to the EBRD region.
He provides thought leadership inside and outside of the EBRD on economic issues related to the Bank’s work in its countries of operation. He fulfils this role through undertaking and presenting his own research, representing the Bank at high-level external policy and academic conferences and workshops, publishing in academic and non-academic outlets, and maintaining strong links between the EBRD and academia.
He and his office ensure that the economics research agenda of the EBRD continues to put the Bank at the forefront of understanding the economic and strategic challenges facing the Bank’s region and to help the Bank formulate effective policy responses.
He is also responsible for macroeconomic forecasting and contributes to the work of the Bank’s Risk Management in building scenarios for identifying and navigating emergent risks and conducting stress testing, as well as assisting regional economists with timely cross-country macroeconomic analysis and economic forecasting.
Sergei Guriev received his Dr. Sc. (habilitation degree) in Economics (2002) and PhD in Applied Math from the Russian Academy of Science (1994), and M.Sc. Summa Cum Laude from the Moscow Institute of Physics in Technology (1993). In 1997-98, Dr. Guriev visited the Department of Economics at M.I.T. for a one-year post-doctoral placement, and in 2003-2004, the Department of Economics at Princeton University as a Visiting Assistant Professor. In 2004-13, Dr. Guriev was a tenured professor of economics and rector of the New Economic School in Moscow. In 2013, he was appointed a tenured professor of economics at Sciences Po, Paris
Dr. Guriev’s research interests include contract theory, corporate governance, political economics and labour mobility. Dr. Guriev has published in international refereed journals including American Economic Review, Review of Economic Studies, Journal of European Economic Association, Journal of Economic Perspectives and American Political Science Review.
In 2006, he was selected a Young Global Leader by the World Economic Forum. In 2011, he was a member of the World Economic Forum’s Global Agenda Council on Europe, in 2012-14 – a co-chair of the Global Agenda Council on the New Economic Thinking, and in 2014-15 – a member of the Global Agenda Council on the Geo-Economics. In 2000 and 2005, he was awarded Gold Medal for the Best Research in Development Economics by the Global Development Network. In 2001, he was announced the Best Academic Manager in Humanities by Russia’s Science Support Foundation. In 2009-11, he was included in the top 100 of the President of Russia’s Cadre Reserve. In 2009, he was also awarded the Bill Maynes Award by the Eurasia Foundation. In 2009 and 2010 he received the Independent Director of the Year prize from Russia’s National Association of Independent Directors. In 2010, he received a Certificate in Company Directorship from the Institute of Directors (UK) and was voted the Best Independent Director by the Association of Managers of Russia and the Russian Institute of Directors.
He has been a board member of Sberbank (2008-14), E.ON Russia (2013-14), Alfa-Strakhovanie Insurance Company (2009-13), Russia Venture Company (2009-13), Russian Home Mortgage Lending Agency (2008-12) and Russian Agricultural Bank (2008-09), a member of the President of Russia’s Council on Science, Technology and Education (2008-12), and a member of the board of the Dynasty Foundation (2007-2015). He is a member of the Scientific Council of the BRUEGEL think tank (Brussels), of the Advisory Council of the Peterson Institute on International Economics (Washington, DC), and of the Academic Advisory Board, Blavatnik School of Government, Oxford University. He is also a Research Fellow at the Centre for Economic Policy Research, London.
Between 2006 and 2013 he wrote a monthly column in Forbes Russia. Between 2003and 2013 he was also a biweekly columnist for the leading Russian business daily Vedomosti and contributed columns to the New York Times, Financial Times, Washington Post, Project Syndicate, and Moscow Times.
Ian Bremmer, President, Eurasia Group, USA; Young Global Leader Alumnus; Global Agenda Council on Geo-economics, Li Huaizhen, President, China Minsheng Investment, People's Republic of China, Malik Samarawickrama, Minister of Development Strategies and International Trade of Sri Lanka and Tatiana Valovaya, Minister for Integration and Macroeconomics, Eurasian Economic Commission, Moscow at the World Economic Forum - Annual Meeting of the New Champions in Tianjin, People's Republic of China 2016. Copyright by World Economic Forum / Faruk Pinjo
Workshops on Learning in Macroeconomics and Finance, Macro and Micro Perspectives on Taxation, Time Series Analysis in Macro and Finance, and Understanding Civil Conflict.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
The session outlined the main objectives of the government to create a framework for development of sustainable industry that allows diversification and boosts the national economy. The ministers will provide insight into the PEGI 2020, the institutions of governance of the country, and the official policy perspective regarding key macroeconomic topics. Participants will achieve a greater understanding of the country’s physical, natural and human resources, as well as how the country uniquely positions itself as an investment destination.
Janet L. Yellen took office as Chair of the Board of Governors of the Federal Reserve System on February 3, 2014, for a four-year term ending February 3, 2018. Dr. Yellen also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Prior to her appointment as Chair, Dr. Yellen served as Vice Chair of the Board of Governors, taking office in October 2010, when she simultaneously began a 14-year term as a member of the Board that will expire January 31, 2024.
Dr. Yellen is Professor Emeritus at the University of California at Berkeley where she was the Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics and has been a faculty member since 1980.
Dr. Yellen took leave from Berkeley for five years starting August 1994. She served as a member of the Board of Governors of the Federal Reserve System through February 1997, and then left the Federal Reserve to become chair of the Council of Economic Advisers through August 1999. She also chaired the Economic Policy Committee of the Organization for Economic Cooperation and Development from 1997 to 1999. She also served as President and Chief Executive Officer of the Federal Reserve Bank of San Francisco from 2004 to 2010.
Dr. Yellen is a member of both the Council on Foreign Relations and the American Academy of Arts and Sciences. She has served as President of the Western Economic Association, Vice President of the American Economic Association and a Fellow of the Yale Corporation.
Dr. Yellen graduated summa cum laude from Brown University with a degree in economics in 1967, and received her Ph.D. in Economics from Yale University in 1971. She received the Wilbur Cross Medal from Yale in 1997, an honorary doctor of laws degree from Brown in 1998, and an honorary doctor of humane letters from Bard College in 2000.
An Assistant Professor at Harvard University from 1971 to 1976, Dr. Yellen served as an Economist with the Federal Reserve's Board of Governors in 1977 and 1978, and on the faculty of the London School of Economics and Political Science from 1978 to 1980.
Dr. Yellen has written on a wide variety of macroeconomic issues, while specializing in the causes, mechanisms, and implications of unemployment.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
Workshops on Bounded Rationality in Choice, Firms in the Global Economy, International Capital Flows, and Theoretical and Experimental Macroeconomics.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
Chancellor of the Exchequer George Osborne (centre) with Didier Reynders Belgian Deputy Prime Minister and Minister for Finance and Institutional Reforms (left) and Anders Borg, Swedish Minister for Finance at the regular meeting in Brussels of Finance Ministers from across Europe on 8 November.
Ministers discussed measures to restore confidence in the banking sector, economic governance and a scoreboard of economic indicators to detect macroeconomic imbalances. Find out more about the outcomes of this meeting.
PHOTO BY ANEEL KARIM
The University of the West Indies (UWI) Sir Arthur Lewis Institute of Social & Economic Studies (SALISES) held its 11th annual conference from March 24th to 26th, 2010. The highlight of the Conference is the 2010 Distinguished Sir Arthur Lewis Lecture, by Professor Robert Barro, on “Macroeconomic Effects from Government Purchases and Taxes.” This event took place on Wednesday 24th March, beginning at 6.30 p.m. at the Daaga Auditorium, UWI St. Augustine Campus, and is open to the general public.
Professor Robert Barro, Paul M. Warburg Professor of Economics, Harvard University, is one of the most distinguished living economists. He has published many influential books and articles, including some of the most popular textbooks used by students of Economics.
The 2010 SALISES Conference, themed “Turmoil and turbulence in small developing states: Going beyond survival,” was officially opened at a formal ceremony on Wednesday 24th March, 2010 at 9.00 a.m. at the Hyatt Regency Hotel, Port of Spain.
2019-06-10: Dr. Hanan Morsy, Director, Macroeconomic Policy, Forecasting and Research Department, African Development Bank during the Launch of African Economic Outlook at the AU Summit in Addis Ababa, Ethiopia.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
Workshops on Bounded Rationality in Choice, Firms in the Global Economy, International Capital Flows, and Theoretical and Experimental Macroeconomics.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
Record levels of US debt and a broad dispersion of global economic power is reigniting debates around alternatives to the US dollar as a reserve currency. However, alternatives to the dollar will require close cooperation amongst the emerging economic powers.
1) Do BRIC economies share a common view on reserve currencies and the need to move to a “basket” approach?
2) What are the technical and political challenges to creating an alternative to US dollar reserves?
Moderator
* Douglas Busvine, Director Russia/CIS, Medley Global Advisors
Panelists
* Sergei Drobyshevsky, Head of Area Research, Macroeconomics and Finance, Institute for the Economy in Transition
* João Carlos Ferraz, Managing Director, National Development Bank of Brazil
* Petr Fradkov, Deputy Chairman, State Corporation Bank for Development and Foreign Economic Affairs Vnesheconombank
* Jiping Li, Executive Vice President, China Development Bank
* Ousmène Jacques Mandeng, Head of Public Sector Investment Advisory, Ashmore Group
* Sergei Naryshkin, Chief of Staff of the Presidential Executive Office
* Jim O'Neill, Head of Global Research, Goldman Sachs
* Alexander Yakovenko, Deputy Minister of Foreign Affairs of the Russian Federation
Copyright St.Petersburg International Economic Forum (http://forumspb.com/en/)
unctad.org/Symposium2013 - Plenary Session I: Macroeconomic and Financial Governance on the Road To 2015
UNCTAD Public Symposium 24 June 2013
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
Organized as self-teaching guides, all Demystified titles come complete with key points, background information, end-of-chapter review questions, and even final exams.
Workshops on Learning in Macroeconomics and Finance, Macro and Micro Perspectives on Taxation, Time Series Analysis in Macro and Finance, and Understanding Civil Conflict.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
Staff of Golden Ocean enjoy a Sunday afternoon meal in the Rose Garden public park. From left: Zhang Shu Hui, VP of Mexican operations; Shi Xiao Ming, Mexico Director; geologists Shi Kai and Zhou Xu; and Daniel Cheng, Assistant to the Director.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
Dr Shamshad Akhtar and Director of Macroeconomic Policy and Development Mr. Anisuzzaman Chowdhury hold in their hands a copy of the Survey of Surveys that has been announced to the media during the press conference.
Jeroen DIJSSELBLOEM, President of the Eurogroup at the press conference:
'The Eurogroup welcomes the political agreement reached with the Cypriot authorities on the cornerstones of the policy conditionality underlying a future macroeconomic adjustment programme'.
Read more:
www.eurozone.europa.eu/media/402209/Eurogroup%20statement...
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
unctad.org/Symposium2013 - Plenary Session I: Macroeconomic and Financial Governance on the Road To 2015
PETER L. RODRIGUEZ is an associate professor of business administration, associate dean for international affairs and director of the Center for Global Initiatives at the Darden School. He teaches classes on economic growth and development, international business and international macroeconomics. Rodriguez is an economist and specializes in the study of international business, trade and economic development, with an emphasis on corruption. His research publications include theoretical explorations of international trade policies and firm behavior and empirical and practice-based studies of issues in international business and management.
Held December 16, 2011. Miller Center, Charlottesville, VA.
For more information, visit millercenter.org/.
Panel debate:
Csaba Kőrösi (State Secretary, Director for Environmental Sustainability, Office of the President of the Republic, Hungary, and former co-chair of The UN General Assembly’s Open Working Group on Sustainable Development Goals)
Jeffrey Sachs (Director of the Earth Institute at Columbia University, Director of the UN SDSN, and Special Advisor to the United Nations Secretary General, Ban Ki-Moon)
Tomáš Sedláček (Czech Economist and University Lecturer, Chief Macroeconomic Strategist at ČSOB, a former member of the National Economic Council of the Czech Republic and Economic Advisor to former President Václav Havel)
Vladimir Šucha (Director General of the Joint Research Center (JRC) of the European Commission and Professor at Comenius University Bratislava)
Jan Zielonka (Professor of European Politics and Ralf Dahrendorf Professorial Fellow at St Antony’s College at University of Oxford)
©Matthias Silveri / IIASA
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KONOMARK - Most Rights Sharable. Just ask me.
Turkey’s economic and social performance since 2000 has been impressive. However, more recently the country has faced a number of internal and external challenges, notably macroeconomic imbalances, geopolitical uncertainties, changing patterns of global capital and trade flows, and the effects of climate change.
These challenges have tested investor confidence and by the summer of 2018 there has been a significant depreciation of the Turkish lira.
After the formation of the new Government, the authorities responded with appropriate coordinated policy action. Monetary policy was tightened substantially and the New Economic Programme was introduced. This resulted in macroeconomic stabilisation, but at the cost of a sharp slowdown in economic activity.
Meanwhile, the private sector in Turkey is deleveraging. Credit growth, which had been an important catalyst for economic growth in the past, is unlikely to pick up quickly. In the EBRD’s view, the outlook for the medium term is for growth to be below trend.
After local elections in March 2018, the authorities have a four-year window with no scheduled polls on the horizon. They are now considering a range of structural reforms to ensure a more sustainable medium and long-term growth path for the economy. This year’s Investment Outlook Session explored this question from the perspective of a top-level Turkish policymaker.
Moderator
Arvid Tuerkner
Managing Director, Turkey, EBRD - Istanbul
Speakers
Berat Albayrak
Minister, Ministry of Treasury and Finance
2023-07-12: In a group photograph, Sung-Chun Jung, vice president of KIEP stands alongside (L-R) ManSu Kang, Associate Research Fellow, KIEP; Hong Miao, Energy expert and programme director at the World Resources Institute in China; Dr. Eric K. Ogunleye, Acting Director & Division Manager, Policy Management at the African Development Institute of the African Development Bank Group; Edmond Wega, Executive Director for Canada, AfDB; Prof. Kevin Urama, Chief Economist and vice president of the African Development Bank Group; Kwon Hyung Lee, Head of the Middle East and Africa team at the Korea Institute for International Economic Policy (KIEP); Seoni Han, Associate Research FellowAssociate Research Fellow Korea Institute for International Economic Policy (KIEP); Sungbae An, Director General of the International Macroeconomic & Finance Department at KIEP during the Hybrid Seminar on African Economic Outlook 2023 for Asian Audiences (KIEP HQs, Korea).
Workshops on Learning in Macroeconomics and Finance, Macro and Micro Perspectives on Taxation, Time Series Analysis in Macro and Finance, and Understanding Civil Conflict.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
Workshops on Learning in Macroeconomics and Finance, Macro and Micro Perspectives on Taxation, Time Series Analysis in Macro and Finance, and Understanding Civil Conflict.
About the Barcelona GSE Summer Forum: j.mp/SummerForumBarcelonaGSE
unctad.org/Symposium2013 - Plenary Session I: Macroeconomic and Financial Governance on the Road To 2015
UNCTAD Publis Symposium 24 June 2013
The End of the Era of Mutual Funds:
Index funds -mutual funds that track an “index” of dozens or hundreds of companies- have been a popular investment for decades. With nominal expense ratios and built-in diversification, they offer a strong basis for a retirement portfolio. But Niels Jensen, the UK-based founder of Absolute Return Partners, has written a book predicting that mutual funds will soon lose their luster. By analyzing long-term macroeconomic mega trends, he has come to the conclusion that mutual funds will go belly under.
The Debt Super-cycle May Stop Churning:
Borrowing -particularly on a margin- has led to unparalleled standards of living. As TV dad Archie Bunker once said, “[c]redit is the only thing that stands between us and Communism.”
But as the sovereign debt of developed nations is untenable, as some economists predict will happen soon, the entire global financial system will have to be restructured. This means that the dominance of mutual funds will also end, and leads us to Jensen’s next salient point…
The Rise of the East:
With the ascendancy of the BRICS countries (Brazil, Russia, India, China and South Africa), some are doubting the centuries-long dominance of the Anglo-American economies and their allies. Though the BRICS nations still have multiple millions of people living on wages less than $2 a day, which means they also have more room to grow. China, in particular, has been a development success story. Many index funds are focused on the developed markets of the US, the UK, the EU, Japan and increasingly South Korea. Even international funds are woefully underexposed to developing markets.
The Baby Boomer Bust:
The West is facing a demographic crisis: the Baby Boom generation is beginning to retire. That leaves to the smaller generations X, Y, and Z to make up for their productivity. Jensen suggests that industrial automation may be able to make up for some of this workforce loss. Also, Baby Boomers are having to make more with less due to inflation and other factors. This segues into another of Mr. Jensen’s points…
The declining spending power of the middle classes:
As the price of consumer staples declines, middle-class people are left with less discretionary income. This leads to a stagnation for cyclical firms as consumer spending decreases. Worse still, this leads to fewer jobs being created. This vicious cycle could do serious harm to index funds that depend on cyclical businesses to heighten gains during booms.
The death of fossil fuels:
Renewable energy firms have been taking advantage of the jump in demand for their products. The solar and wind sub-sectors, specifically, are challenging conventional fossil fuel utilities for market share. This threatens mutual funds, as some of their best dividends come from companies like BP and ExxonMobil. While yieldcos offer decent dividends, they still fall far short of those provided by conventional energy. Will investors accept lower dividends from more sustainable sources?
Mark Angelo co-founded the Investment Manager in August 2009.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
President Nakao met with Yoichi Nemoto, Director of the ASEAN+3 Macroeconomic Research Office (AMRO) on 7 March 2016 in Singapore. AMRO is an independent regional economic surveillance unit established by ASEAN, the People's Republic of China, Japan, and Republic of Korea in 2011. Discussions focused on the regional economic outlook and further cooperation between ADB and AMRO.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.
Eurogroup family photo after a meeting under the theme "Exchange of views on macroeconomic and fiscal developments" included in the official program of the Portuguese Presidency of the Council of the European Union in Lisbon, Portugal, 21 May 2021. Finance ministers will discuss the functioning of adjustment mechanisms in the euro area, focusing on the COVID-19 pandemic. This exchange is part of an ongoing dialogue aiming to strengthen the exchange of information between the European Parliament and the Eurogroup. ANTONIO PEDRO SANTOS/LUSA
Turkey’s economic and social performance since 2000 has been impressive. However, more recently the country has faced a number of internal and external challenges, notably macroeconomic imbalances, geopolitical uncertainties, changing patterns of global capital and trade flows, and the effects of climate change.
These challenges have tested investor confidence and by the summer of 2018 there has been a significant depreciation of the Turkish lira.
After the formation of the new Government, the authorities responded with appropriate coordinated policy action. Monetary policy was tightened substantially and the New Economic Programme was introduced. This resulted in macroeconomic stabilisation, but at the cost of a sharp slowdown in economic activity.
Meanwhile, the private sector in Turkey is deleveraging. Credit growth, which had been an important catalyst for economic growth in the past, is unlikely to pick up quickly. In the EBRD’s view, the outlook for the medium term is for growth to be below trend.
After local elections in March 2018, the authorities have a four-year window with no scheduled polls on the horizon. They are now considering a range of structural reforms to ensure a more sustainable medium and long-term growth path for the economy. This year’s Investment Outlook Session explored this question from the perspective of a top-level Turkish policymaker.
Moderator
Arvid Tuerkner
Managing Director, Turkey, EBRD - Istanbul
Speakers
Berat Albayrak
Minister, Ministry of Treasury and Finance
2019-06-10: Dr. Hanan Morsy, Director, Macroeconomic Policy, Forecasting and Research Department, African Development Bank speaking during the Launch of African Economic Outlook at the AU Summit in Addis Ababa, Ethiopia.
Hilde C. Bjørnland, Professor of Economics at the Norwegian School of Management, reads the morning newspaper at a cafe near the University of California, Berkeley, on April 30, 2009.
Leading economists gather at the University of Chicago for the second half of the Conference for the Handbook of Macroeconomics, Volume 2.