Council of Advisers for Monetary Research

Professor Richard H. CLARIDA

C. Lowell Harriss Professor of Economics

Department of Economics

Columbia University

Richard H. CLARIDA is the C. Lowell Harriss Professor of Economics and International Affairs at Columbia University, and since 2006 has been a Global Strategic Adviser for PIMCO.   He currently serves as Chairman of the Deutsche Bundesbank Research Advisory Board, and in 2009-2010 was an external member of the Norges Bank Watchers Committee. From February 2002 until May 2003, Clarida served as the Assistant Secretary of the United States Treasury for Economic Policy, a position that required confirmation by the US Senate. In that position, he served as chief economic advisor to the Treasury Secretary, and advising him on a wide range economic policy issues, including the U.S. and global economic prospects, international capital flows, corporate governance, and the maturity structure of U.S. debt. In May 2003 Treasury Secretary John Snow presented Clarida with The Treasury Medal in recognition for his record of outstanding service to the Treasury Department.

From 1997 until 2001, Clarida served as chairman of the Department of Economics at Columbia University. Earlier in his career, Clarida taught at Yale University and served in the Administration of President Ronald Reagan as Senior Staff Economist with the President's Council of Economic Advisers.

Clarida has published numerous and frequently cited articles in leading academic journals on monetary policy, exchange rates, interest rates, and international capital flows. He is frequently invited to present his views and research to the world's leading central banks, including the Federal Reserve, the ECB, the Bank of England, and the Bank of Japan. He has also served as a consultant to several prominent financial firms, including the Global Foreign Exchange Group at Credit Suisse First Boston and Grossman Asset Management.   He is a member of the Council on Foreign Relations and the National Bureau of Economic Research. Clarida was director of the NBER Project on and Editor of G7 Current Account Imbalances: Sustainability and Adjustment (University of Chicago Press: 2007). Since 2004, he has served as co-editor of the NBER International Macroeconomics Annual and since 2009 as Co-Managing Editor of the Journal of Applied Financial Economics. He is co-editor, along with Jeff Fuhrer of the volume  Essay in Honor of Benjamin Friedman: Special Issue of the International Journal of Central Banking.

Clarida received his BS from the University of Illinois with Bronze Tablet honors and his MA and PhD from Harvard University in 1983.

Professor Charles ENGEL

Donald Hester Professor of Economics
Department of Economics
University of Wisconsin-Madison

Charles Engel is the Donald Hester Professor of Economics at the University of Wisconsin – Madison, which he joined in 2000. He has previously held positions at the University of Washington and the University of Virginia. He earned his Ph.D. from University of California, Berkeley, and his B.A. from University of North Carolina – Chapel Hill.

He is a Research Associate for the National Bureau of Economic Research; a Research Fellow at the Centre for Economic Policy Research; a Research Affiliate at the Research Centre for International Economics, City University of Hong Kong; a member of the Advisory Board, Center for Applied Macroeconomic Analysis (Australia and New Zealand); an International Research Fellow, Kiel Institute, Kiel, Germany; on the Council of Advisers, Hong Kong Institute for Monetary Research; a member of the CESifo Research Network; serves on the BIS Advisory Panel and is a consultant at the Federal Reserve Bank of Chicago.

He was Editor from 2001-2017 of the Journal of International Economics, the leading academic journal in the field of international economics.

He has frequently been a Visiting Scholar at the Federal Reserve Board, the International Monetary Fund, the European Central Bank, the Bank for International Settlements, and central banks in several countries including England, France, the Netherlands, Hong Kong, Singapore, Serbia, Uruguay, and Chile. He is regularly a Visiting Scholar at several of the regional Federal Reserve Banks.

He has published articles in the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, the Journal of International Economics and other publications.

Professor Antonio FATAS

Professor of Economics 
The Portuguese Council Chaired Professor of European Studies 
INSEAD, Fontainebleau (France) and Singapore 

Antonio Fatás is a Professor of Economics at INSEAD. He received his PhD in Economics from Harvard University. He is a Research Fellow at the Centre for Economic and Policy Research in London and has worked as an external consultant for international organisations such as the International Monetary Fund, the OECD and the World Bank. 

He teaches the macroeconomics core course in the MBA programme, as well as different modules on the global macroeconomic environment in the Executive Education. His research focuses on the study of business cycles, fiscal policy and the economics of European integration. His articles appear in academic journals such as the Quarterly Journal of Economics, Journal of Monetary Economics, Journal of Money, Credit and Banking, Journal of Public Economics, Journal of International Economics, Journal of Economic Growth, European Economic Review and Economic Policy. 

Dr. Alicia GARCIA-HERRERO

Chief Economist for Asia Pacific
Natixis

Alicia García Herrero is the Chief Economist for Asia Pacific at Natixis. She also serves as Senior Fellow at European think-tank BRUEGEL and non-resident Research Fellow at Madrid- based political think tank Real Instituto Elcano. She is currently Adjunct Professor at the Hong Kong University of Science and Technology and member of the advisory board of Berlin-based China think-tank MERICS. Finally, Alicia is advisor to the Hong Kong Monetary Authority’s research arm (HKIMR) and the Asian Development Bank (ADB) as well as a member of the board of the Hong Kong Forum and co-founder of Bright Hong Kong. Alicia holds a PhD in Economics from George Washington University and has published extensively in refereed journals and books. Alicia is also very active in international media as well as social media. As recognition of her leadership thoughts, Alicia has recently been nominated TOP Voices in Economy and Finance by LinkedIn.

Professor Hans GENBERG

Professor of Economics
Senior Director of Banking and Finance Programme
Asia School of Business

Dr. Hans Genberg joined the Asia School of Business (ASB) in Kuala Lumpur, Malaysia on July 1 2019 as Professor of Economics and Associate director of the ASB’s Master of Central Banking Program. He joined he ASB from the SEACEN Centre, also in Kuala Lumpur, where he had been the Executive Director since July 1, 2015 having served as an Adviser to the Centre since March 3, 2014. Prior to joining SEACEN Dr. Genberg was Assistant Director at the Independent Evaluation Office of the International Monetary Fund after having been Executive Director, Research at the Hong Kong Monetary Authority. Before joining the HKMA he was Professor of international economics at the Graduate Institute of International Studies in Geneva, Switzerland. A Swedish national, Mr. Genberg holds a Ph.D. degree in Economics from the University of Chicago.

Dr. Simon KWAN

Senior Research Advisor
Federal Reserve Bank of San Francisco

Simon Kwan is Senior Research Advisor at the Federal Reserve Bank of San Francisco. He specializes on issues pertaining to financial stability, macroprudential policy, credit market conditions, and bank regulation, expertise gained from years of experience within the Federal Reserve System, at the Sveriges Riksbank (the central bank of Sweden), and in academia. Prior to returning to the San Francisco Fed, Simon was Group Vice President of Financial Stability at the Federal Reserve Bank of Cleveland. He also served as the Head of Research and Modelling in the Financial Stability Department of the Sveriges Riksbank in Stockholm. In addition to his stint at the Riksbank, Simon’s international experience includes being a visiting scholar at Goethe University Frankfurt am Main, and an adviser to the Hong Kong Institute for Monetary Research. Simon is an active researcher focusing on financial intermediation, financial stability, and systemic risk. He has published numerous articles in academic journals on a variety of financial topics. Simon was an assistant professor of finance at the University of Arizona, and he has taught finance and banking at the University of California, Berkeley. He holds a PhD in finance from the University of North Carolina at Chapel Hill. His CV and research papers can be found at: http://www.frbsf.org/economic-research/economists/simon-kwan/

Professor Lucio SARNO

Professor of Finance and JM Keynes Fellow in Financial Economics,
University of Cambridge
Research Fellow, Centre for Economic Policy Research (CEPR)

Lucio Sarno is Professor of Finance and Head of the Finance Group at Cambridge Judge Business School, and JM Keynes Fellow in Financial Economics at the University of Cambridge. He is also a Research Fellow of the Centre for Economic Policy Research (CEPR). Prior to joining the University of Cambridge, Lucio was Professor of Finance at the University of London (Bayes Business School, formerly Cass Business School), where he also served as Deputy Dean and Head of the Faculty of Finance; the Tommie Goh Distinguished Chair Professor of Finance at the Lee Kong Chian School of Business, Singapore Management University (part time); Professor of Finance at the University of Warwick, where he also served as Associate Dean of Research and Head of the Finance Group; the Schröder Fellow in Economics at University College, University of Oxford; a Post-doctoral scholar at Columbia University.

 

Lucio’s main research interests are in international finance, empirical asset pricing, and asset management. In particular, he has written extensively on various aspects of currency markets. He also has broad interests in macroeconomics and its interaction with financial markets, especially the effects of monetary and exchange rate policy on asset prices. He is the author of over 90 articles, published in top finance journals such as the Journal of Finance, the Journal of Financial Economics and the Review of Financial Studies, as well as general and top field journals in economics and management science. He has authored and edited several books, including the Handbook of Exchange Rates (Wiley, 2012) and the graduate textbook The Economics of Exchange Rates (Cambridge University Press, 2003). His work is often featured or quoted in the press, including the Financial Times, the Wall Street Journal, and the New York Times.

 

Lucio's research has received funding from several agencies, including ESRC, Leverhulme and INQUIRE grants, and has been awarded the Best Paper Prize for Investments by the Western Finance Association in 2013, Best Paper Prizes by INQUIRE both in 2010 and 2011, the 2007 CEPR Prize for the Best Central Bank Research Paper, the 2017 CFA Institute Best Paper Prize at the FIRN Annual Conference, and the 2019 Prize and the 2017 Runner-up Prize by WINNER (Wealth Innovation, Neuro- and Entrepreneurial Results). In 2011, he was selected by Poets & Quants for their “40 under 40”, a listing of the best 40 business schools professors under the age of 40.

 

In addition to teaching and doing research, Lucio has been involved in policy advice, training, research and consulting projects for a number of institutions, including the International Monetary Fund, the World Bank, the European Central Bank, the U.S. Federal Reserve Banks of New York and St. Louis, the Bank for International Settlements, the Bank of England, the Bank of Canada, the Central Bank of Norway, the Italian Ministry of Economy and Finance, the European Commission, the Bank of Korea, the Central Bank of Colombia. He has wide-ranging consulting experience in the finance industry, involving some of the world's leading asset management firms, hedge funds, sovereign wealth funds, investment banks, and their research units, and has held full-time senior positions outside academia, including as Director of Currency Research at AXA Investment Managers.

Professor Shang-Jin WEI

N. T. Wang Professor of Chinese Business and Economy
Professor of Finance and Economics
Graduate School of Business and School of International and Public Affairs
Columbia University

Dr. Shang-Jin Wei is N.T. Wang Professor of Chinese Business and Economy and Professor of Finance and Economics at Columbia University’s Graduate School of Business and School of International and Public Affairs.

During 2014-2016, Dr. Wei served as Chief Economist of Asian Development Bank and Director General of its Economic Research and Regional Cooperation Department. He was ADB’s chief spokesperson on economic trends and economic development in Asia, advised ADB’s President on economic development issues, led the bank’s analytical support for regional cooperation fora including ASEAN+3 (China, Japan, and Korea) and APEC, growth strategy diagnostics for developing member countries, as well as research on macroeconomic, financial, labor market, and globalization issues.

Prior to his Columbia appointment in 2007, he was Assistant Director and Chief of Trade and Investment Division at the International Monetary Fund. He was the IMF’s Chief of Mission to Myanmar (Burma) in 2004. He previously held the positions of Associate Professor of Public Policy at Harvard University, the New Century Chair in Trade and International Economics at the Brookings Institution, and Advisor at the World Bank.

Dr. Wei has been a consultant to numerous government organizations including the U.S. Board of Governors of the Federal Reserve System, United Nations Economic Commission on Europe, and United Nations Development Program, the Asian Development Bank, and to private companies such as PricewaterhouseCoopers. He holds a PhD in economics and M.S. in finance from the University of California, Berkeley.

Dr. Wei is a noted scholar on international finance, trade, macroeconomics, and China. He is a recipient of the Sun Yefang Prize for Distinguished Contributions to Economics (for the invention of the Competitive Saving Motive published in Journal of Political Economy), the Zhang Peifang Prize for Contributions to Economics of Development (for pioneering work on measurement of global value chains published in American Economic Review), and the Gregory Chow Award for Best Research Paper; some of his research was supported by a grant from the U.S. National Science Foundation.

Dr. Wei’s research has been published in top academic journals including American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Journal of Finance, Review of Financial Studies, Journal of International Economics, and Journal of Development Economics, and reported in popular media including Financial Times, Wall Street Journal, Economist, Business Week, Times, US News and World RAeport, Chicago Tribune, Nikkei Asian Review, South China Morning Post, and other international news media.

Professor Wei XIONG

Trumbull-Adams Professor of Finance
Professor of Economics
Department of Economics and Bendheim Center for Finance
Princeton University

WEI XIONG is Trumbull-Adams Professor of Finance and Professor of Economics in the Department of Economics and Bendheim Center for Finance, Princeton University. His research interests center on capital market imperfections, behavioral finance, digital economy, and China’s financial system. He has received various awards, including 2018 China Economics Prize, 2014 Inaugural Sun Yefang Financial Innovation Award, 2013 NASDAQ OMX Award by Western Finance Association, and 2012 Smith Breeden Award (first prize) by American Finance Association. He received his Ph.D. in finance from Duke University in 2001, M.A. in physics from Columbia University in 1995, and B.S. in physics from University of Science and Technology of China in 1993. He is Research Associate of the National Bureau of Economic Research and Co-Editor of Journal of Finance (the flagship journal of American Finance Association), as well as Academic Dean of School of Management and Economics, Chinese University of Hong Kong, Shenzhen.