Book Discussion Event

Macrofinancial Linkages: Trends, Crises,
and Policies

Friday, November 5, 2010

Please join panelists for a discussion to launch the recently published Macrofinancial Linkages: Trends, Crises, and Policies edited by Christopher Crowe, Simon Johnson, Jonathan D. Ostry, and Jeromin Zettelmeyer.

The global financial crisis has exposed the critical interactions between the world of high finance and the real economy of jobs, growth, and development. These macrofinancial linkages are increasingly at the core of the IMF’s mandate to oversee the stability of the global financial system, and Fund research on macrofinancial linkages has played an important role in the critical policy debates at both the national and multilateral levels. This volume brings together some of the best writing by IMF economists on the topic.

Advance Praise for the Book

“There is no more important macroeconomic issue today than understanding the links between the macroeconomic environment and financial sector behavior. It is also an area that is poorly understood. This compendium of very readable and insightful research papers by the excellent researchers at the International Monetary Fund helps fill serious gaps in our knowledge. It addresses issues like the effects of foreign capital flows, the effects of monetary policy on asset prices, and the desirability of country insurance. It is a must read for all those interested in international macroeconomics and finance, including students, academics, and policymakers."

— Raghuram Rajan, Eric Gleacher Distinguished Service Professor,
University of Chicago Booth School of Business

“This book offers a great collection of cutting edge theory, empirical analysis, and new data on the connections between the macro-economy and the financial system. In light of the crisis this book is especially relevant.”

— Anil K. Kashyap, Edward Eagle Brown Professor of Economics and Finance,
University of Chicago Booth School of Business

Moderator

John Lipsky, First Deputy Managing Director, IMF

Panelists

Simon Johnson is the Ronald A. Kurtz (1954) Professor of Entrepreneurship at MIT Sloan School of Management. He is also a senior fellow at the Peterson Institute for International Economics in Washington, D.C., a co-founder of BaselineScenario.com, and a member of the Congressional Budget Office's Panel of Economic Advisers. He is a weekly contributor to NYT.com's Economix, has a monthly column with Project Syndicate that runs in publications around the world, and has published pieces recently in The Atlantic, The New Republic, BusinessWeek, Bloomberg, and The Financial Times, among other places. In January 2010, he joined The Huffington Post as contributing business editor. From March 2007 through the end of August 2008, Professor Johnson was the IMF’s Economic Counselor and Director of its Research Department.

Carmen Reinhart is the Dennis Weatherstone Senior Fellow at the Peterson Institute for International Economics. She was formerly Professor of Economics and Director of the Center for International Economics at the University of Maryland. Professor Reinhart is a research associate in the National Bureau of Economic Research and a member of the Council on Foreign Relations. She has served on numerous editorial boards and has testified before Congress. Professor Reinhart was previously a vice president at Bear Stearns and the Deputy Director of the Research Department at the International Monetary Fund. She has written and published on a range of topics in macroeconomics and international finance and trade, which have been published in leading scholarly journals and are widely featured in the financial press around the world. Her 2009 book with Kenneth Rogoff, This Time Is Different, has been widely praised for its forensic analysis of financial crises through the centuries.

Olivier Jeanne is a professor in the Department of Economics at Johns Hopkins University, which he joined in 2008 after ten years at the Research Department of the International Monetary Fund. His research spans an array of applied and theoretical topics in international and domestic macroeconomics, such as capital flows, exchange rate regimes and currency crises, sovereign debt and defaults, international liquidity, and monetary policy. He is also a senior fellow at the Peterson Institute for International Economics, a research associate at the National Bureau of Economic Research (NBER), and a research fellow at the Center for Economic Policy Research (CEPR).

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