| Ricardo J. Caballero
A Caricature (Model) of the World Economy
The 'Other' Imbalance and the Financial Crisis
Feasible Global Rebalancing: A Case for Monitored and Temporary Dual Exchange Rates
Understanding Global Turmoil: It's the General Equilibrium, Stupid
Ricardo J. Caballero is the Head of the Department of Economics, the Ford International Professor of Economics, and Co-Director of the World Economic Laboratory at the Massachusetts Institute of Technology, and an NBER Research Associate in economic fluctuations and growth.
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A Chilean native, he received his Ph.D. from MIT. Before returning to MIT, he taught at Columbia University for three years and was an Olin Fellow at the NBER. Caballero has also been a visiting scholar and consultant at the European Central Bank, the Federal Reserve Board, the Inter-American Development Bank, the International Monetary Fund, the World Bank, as well as at central banks and government institutions throughout the world.
His teaching and research fields are macroeconomics, international economics, and finance. His current research looks at global capital markets, speculative episodes and financial bubbles, systemic crises prevention mechanisms, and dynamic restructuring. His policy work focuses on aggregate risk management and insurance arrangements for emerging markets and developed economies. He has also written about aggregate consumption and investment, exchange rates, externalities, growth, price rigidity, and dynamic aggregation.
Caballero serves on the editorial board of several academic journals and was the winner (jointly with Eduardo Engle) of the 2002 Frisch Medal of the Econometric Society for “Explaining Investment Dynamics in U.S. Manufacturing: A Generalized(S,s) Approach”, Econometrica, 67(4), July 1999. In January 2009 Ricardo J. Caballero (jointly with Arvind Krishnamurthy) was awarded the Smith Breeden Prize by the American Finance Association for “Collective Risk Management in a Flight to Quality Episode”, Journal of Finance, 63(5), October 2008. More recently, Caballero (jointly with Takeo Hoshi and Anil Kashap) was awarded the Emerald Management Reviews Citation of Excellence for “Zombie Lending and Depressed Restructuring in Japan”, American Economic Review, 98(5), December 2008. In April 1998 Caballero was elected a Fellow of the Econometric Society and subsequently of the American Academy of Arts and Sciences in April 2010.
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| Arminio Fraga
Arminio Fraga Neto is Chairman and CIO at Gavea Investimentos, an investment management firm he founded in August 2003, based in Rio de Janeiro, Brazil.
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He also serves as Independent Member and Chairman of the Board of BM&F Bovespa SA--one of the largest stock exchanges in the world.
He served as Governor of the Central Bank of Brazil from March 1999 to December 2002. Prior to that, he worked for six years as Managing Director of Soros Fund Management LLC in New York. From 1991 to 1992, he served as Deputy Governor for International Affairs of the Banco Central do Brasil.
He also worked for Salomon Brothers, in New York, as Vice President, and as Chief Economist at Banco de Investimentos Garantia, in Brazil.
Among other academic affiliations, he was Professor at Universidade Catolica do Rio de Janeiro and at the Graduate School of Economics of Fundacao Getulio Vargas, at the School of International Affairs at Columbia University and at the Wharton School.
He received his PhD in Economics from Princeton University in 1985, and his Bachelor of Arts degree and Masters degree in Economics from the Universidade Catolica do Rio de Janeiro in 1981.
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| Rakesh Mohan
Liberalisation and Regulation of Capital Flows: Lessons for Emerging Market Economies
Managing the Impossible Trinity: Volatile Capital Flows and Indian Monetary Policy
Capital flows and emerging market economies
Rakesh Mohan is currently Professor of in the Practice of International Economics and Finance at the School of Management and Senior Fellow of the Jackson Institute for Global Affairs at Yale University.
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He is also Chairman of the National Transport Development Policy Committee of the Government of India, and of the High Level Committee on Infrastructure Finance, with rank of Minister of State; (non executive) Vice Chairman of the Indian Institute of Human Settlements; and Senior Adviser, McKinsey Global Institute, McKinsey and Company. He is also a Non Resident Senior Research Fellow of Stanford University.
Dr. Rakesh Mohan has researched extensively in the areas of economic reforms and liberalisation, industrial economics, urban economics, infrastructure studies, economic regulation, monetary policy and the financial sector. He is the author of three books on urban economics and urban development, co-author of one and editor of another on Indian economic policy reforms, and of numerous articles, and of another on monetary policy in India.
He was Secretary, of the Indian Ministry of Finance, and also Deputy Governor of the Reserve Bank of India between 2002 and 2009. In this capacity he co-chaired the G20 Working Group “Enhancing Sound Regulation and Strengthening Transparency” (2009), and the CGFS Working Group on Capital Flows (2008-09). He has recently published a book titled “Monetary Policy in a Globalized Economy: A Practitioner’s View” (Oxford University Press, 2009), which focuses on the issues relating to the evolution of banking and finance, the conduct of monetary policy, the management of the financial sector and the role of central banking.
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| José Antonio Ocampo
The Role of Preventative Capital Account Regulations
Capital-Account and Counter-Cyclical Prudential Regulations in Developing Countries
Colombia’s experience with reserve requirements on capital inflows
José Antonio Ocampo, a Colombian citizen, holds a B.A. in Economics and Sociology from the University of Notre Dame (1972), and a Ph.D. in Economics from Yale University (1976).
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He has received a number of personal honors and distinctions, including the 2008 Leontief Prize for Advancing the Frontiers of Economic Thought and the 1988 “Alejandro Angel Escobar” National Science Award of Colombia. Since July 2007, he is Professor and Director of the Economic and Political Development Program in the School of International and Public Affairs and Fellow of the Committee on Global Thought at Columbia University.
In 2008-2010, he has been co-director of the UNDP/OAS Project on “Agenda for a Citizens’ Democracy in Latin America”. In 2009, he was a Member of the Commission of Experts of the UN General Assembly on Reforms of the International Monetary and Financial System. From 2003 to 2007 he served as the United Nations Under-Secretary-General for Economic and Social Affairs and, prior to that, as Executive Secretary of the UN Economic Commission for Latin America and the Caribbean (CEPAL/ECLAC).
From 1989 to 1997, he held a number of high-level posts in the Government of Colombia, including Minister of Finance and Public Credit, Director (Minister) of the National Planning Department, and Minister of Agriculture. He also served as Executive Director of FEDESARROLLO, Professor of Economics at Universidad de los Andes, and Professor of Economic History at Universidad Nacional de Colombia, and visiting professor at Cambridge, Oxford and Yale Universities.
He has published extensively on macroeconomic theory and policy, international financial issues, economic and social development, international trade, and Colombian and Latin American economic history. His most recent books include Growth and Policy in Developing Countries: A Structuralist Approach, José Antonio Ocampo, Codrina Rada, and Lance Taylor (2009), and Time for a Visible Hand: Lessons from the 2008 World Financial Crisis, (Oxford University Press, 2010) editors Stephany Griffith-Jones, José Antonio Ocampo and Joseph E. Stiglitz.
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