Yan Carriere-Swallow

Last Updated: February 07, 2024

Yan Carrière-Swallow is Deputy Division Chief in the IMF’s Asia and Pacific Department, where he serves as mission chief for Timor-Leste and deputy mission chief for Japan. His research interests span topics in international macroeconomics and digitalization, with a focus on emerging markets and their policies. Prior to joining the IMF in 2012, he was an economist at the Central Bank of Chile in Santiago.

Email: YCSWALLOW@imf.org

Personal WebPage: https://sites.google.com/view/yancswallow

Fluent In: French, Spanish.

Field of Expertise:

Monetary Policy

Macro-Financial Issues

International Macroeconomics

IMF Books and Working Papers:

State-Dependent Exchange Rate Pass-Through , Working Paper No. 2023/086 , April 28, 2023

Inflation and Monetary Policy in a Low-Income and Fragile State: The Case of Guinea , Working Paper No. 2023/084 , April 21, 2023

Shipping Costs and Inflation , Working Paper No. 2022/061 , March 25, 2022

Macrofinancial Causes of Optimism in Growth Forecasts , Working Paper No. 2021/275 , November 12, 2021

Towards a Global Approach to Data in the Digital Age , Staff Discussion Notes No. 2021/005 , October 06, 2021

India’s Approach to Open Banking: Some Implications for Financial Inclusion , Working Paper No. 2021/052 , February 26, 2021

The Economics and Implications of Data : An Integrated Perspective , Departmental Paper No. 19/16 , September 23, 2019

Challenges for Central Banking : Perspectives from Latin America , October 05, 2018

No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect , Working Paper No. 18/213 , September 28, 2018

The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America , Working Paper No. 18/142 , June 13, 2018

Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency , Working Paper No. 18/24 , January 25, 2018

Monetary Policy Credibility and Exchange Rate Pass-Through , Working Paper No. 16/240 , December 13, 2016

Central Banking in Latin America : The Way Forward , Working Paper No. 16/197 , September 30, 2016

U.S. Monetary Policy Normalization and Global Interest Rates , Working Paper No. 16/195 , September 29, 2016

Global Financial Conditions and Monetary Policy Autonomy , Working Paper No. 16/108 , June 08, 2016

Capital Account Policies in Chile Macro-financial considerations along the path to liberalization , Working Paper No. 13/107 , May 14, 2013

IMF Country Reports

"Indonesia: 2023 Article IV Consultation", Country Report No. 2023/221.

"Indonesia: 2022 Article IV Consultation", Country Report No. 2022/084.

"Guinea: 2021 Article IV Consultation", Country Report No. 2021/146.

"Guinea: Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement", Country Report No. 2020/316.

"Guinea: Request for Disbursement Under the Rapid Credit Facility", Country Report No. 2020/218.

"Guinea: Fourth Review under the Extended Credit Facility Arrangement", Country Report No. 2020/111.

"Argentina: First Review under the Stand-By Arrangement", Country Report No. 2018/297.

"Argentina: Request for Stand-By Arrangement", Country Report No. 2018/219.

IMF Occasional Papers, Pamphlets, and Special Issues Papers

"Review of the Institutional View on the Liberalization and Management of Capital Flows", Policy Paper No. 2022/008.

"Digital Money Across Borders: Macro-Financial Implications", Policy Paper No. 2020/050.

iMFdirect Blog Posts

"How Soaring Shipping Costs Raise Prices Around the World", March 28, 2022.

"Higher Shipping Costs May Lift Asia’s Low Inflation", December 22, 2021.

"Needed—A Global Approach to Data in the Digital Age", October 26, 2021.

"The Economics of Data", September 23, 2019.

"How Flexible Exchange Rates Helped Latin America Adjust to Commodity Price Shocks", May 17, 2017.

"Learning to Adjust: The Effects of Currency Depreciations on Inflation in Latin America", May 11, 2016.

"To Hike or Not to Hike? Monetary Policy in Latin America During Fed Liftoff", October 21, 2015.

F&D articles

"Let's Build a Better Data Economy" (with Vikram Haksar), March 2021.

"Stacking Up Financial Inclusion Gains in India" (with Vikram Haksar and Manasa Patnam), July 2021.

Publications in Journals (Refereed)

"Shipping Costs and Inflation" (with Pragyan Deb, Daniel Jiménez, Davide Furceri, and Jonathan D. Ostry), Journal of International Money and Finance 130: 102771, February 2023

"Macrofinancial Causes of Optimism in Growth Forecasts" (with José Marzluf), IMF Economic Review 71: 509-537, May 2023.

"The Impact of Uncertainty Shocks in Emerging Economies" (with Luis Felipe Céspedes), Journal of International Economics 90(2): pp. 316-25, July 2013.

"Inflation and Monetary Policy in a Low-Income and Fragile State: The Case of Guinea" (with Fidèle Koumtingué and Sebastian Weber), Journal of African Economies, In Press, January 2024.

"Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: New Narrative Evidence from Latin America and the Caribbean," (with Antonio David and Daniel Leigh) Journal of Money, Credit and Banking 53(6): 1313-35, February 2021.

"Monetary Policy Credibility and Exchange Rate Pass-Through" (with Bertrand Gruss, Nicolas Magud and Fabián Valencia), International Journal of Central Banking 17(3): 61-94, September 2021.

"Exchange Rate Flexibility, the Real Exchange Rate, and Adjustment to Terms-of-Trade Shocks" (with Nicolás Magud and Juan Yépez), Review of International Economics 29(2): 439-83, May 2021.

"Nowcasting with Google Trends in an Emerging Market" (with Felipe Labbé), Journal of Forecasting 32(4): 289-98, November 2011.

Publications in Books and Conference Volumes

"Open Banking and the Economics of Data" (with Vikram Haksar), Chapter 7 in Open Banking, edited by Linda Jeng. Oxford University Press, 2022.

Yan Carrière-Swallow is Deputy Division Chief in the IMF’s Asia and Pacific Department, where he serves as mission chief for Timor-Leste and deputy mission chief for Japan. His research interests span topics in international macroeconomics and digitalization, with a focus on emerging markets and their policies. Prior to joining the IMF in 2012, he was an economist at the Central Bank of Chile in Santiago.

Email: YCSWALLOW@imf.org

Personal WebPage: https://sites.google.com/view/yancswallow

Fluent In: French, Spanish.

Field of Expertise:

Monetary Policy

Macro-Financial Issues

International Macroeconomics

IMF Books and Working Papers:

State-Dependent Exchange Rate Pass-Through , Working Paper No. 2023/086 , April 28, 2023

Inflation and Monetary Policy in a Low-Income and Fragile State: The Case of Guinea , Working Paper No. 2023/084 , April 21, 2023

Shipping Costs and Inflation , Working Paper No. 2022/061 , March 25, 2022

Macrofinancial Causes of Optimism in Growth Forecasts , Working Paper No. 2021/275 , November 12, 2021

Towards a Global Approach to Data in the Digital Age , Staff Discussion Notes No. 2021/005 , October 06, 2021

India’s Approach to Open Banking: Some Implications for Financial Inclusion , Working Paper No. 2021/052 , February 26, 2021

The Economics and Implications of Data : An Integrated Perspective , Departmental Paper No. 19/16 , September 23, 2019

Challenges for Central Banking : Perspectives from Latin America , October 05, 2018

No Pain, All Gain? Exchange Rate Flexibility and the Expenditure-Switching Effect , Working Paper No. 18/213 , September 28, 2018

The Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: Evidence from Latin America , Working Paper No. 18/142 , June 13, 2018

Disagreement about Future Inflation: Understanding the Benefits of Inflation Targeting and Transparency , Working Paper No. 18/24 , January 25, 2018

Monetary Policy Credibility and Exchange Rate Pass-Through , Working Paper No. 16/240 , December 13, 2016

Central Banking in Latin America : The Way Forward , Working Paper No. 16/197 , September 30, 2016

U.S. Monetary Policy Normalization and Global Interest Rates , Working Paper No. 16/195 , September 29, 2016

Global Financial Conditions and Monetary Policy Autonomy , Working Paper No. 16/108 , June 08, 2016

Capital Account Policies in Chile Macro-financial considerations along the path to liberalization , Working Paper No. 13/107 , May 14, 2013

IMF Country Reports

"Indonesia: 2023 Article IV Consultation", Country Report No. 2023/221.

"Indonesia: 2022 Article IV Consultation", Country Report No. 2022/084.

"Guinea: 2021 Article IV Consultation", Country Report No. 2021/146.

"Guinea: Fifth and Sixth Reviews Under the Extended Credit Facility Arrangement", Country Report No. 2020/316.

"Guinea: Request for Disbursement Under the Rapid Credit Facility", Country Report No. 2020/218.

"Guinea: Fourth Review under the Extended Credit Facility Arrangement", Country Report No. 2020/111.

"Argentina: First Review under the Stand-By Arrangement", Country Report No. 2018/297.

"Argentina: Request for Stand-By Arrangement", Country Report No. 2018/219.

IMF Occasional Papers, Pamphlets, and Special Issues Papers

"Review of the Institutional View on the Liberalization and Management of Capital Flows", Policy Paper No. 2022/008.

"Digital Money Across Borders: Macro-Financial Implications", Policy Paper No. 2020/050.

iMFdirect Blog Posts

"How Soaring Shipping Costs Raise Prices Around the World", March 28, 2022.

"Higher Shipping Costs May Lift Asia’s Low Inflation", December 22, 2021.

"Needed—A Global Approach to Data in the Digital Age", October 26, 2021.

"The Economics of Data", September 23, 2019.

"How Flexible Exchange Rates Helped Latin America Adjust to Commodity Price Shocks", May 17, 2017.

"Learning to Adjust: The Effects of Currency Depreciations on Inflation in Latin America", May 11, 2016.

"To Hike or Not to Hike? Monetary Policy in Latin America During Fed Liftoff", October 21, 2015.

F&D articles

"Let's Build a Better Data Economy" (with Vikram Haksar), March 2021.

"Stacking Up Financial Inclusion Gains in India" (with Vikram Haksar and Manasa Patnam), July 2021.

Publications in Journals (Refereed)

"Shipping Costs and Inflation" (with Pragyan Deb, Daniel Jiménez, Davide Furceri, and Jonathan D. Ostry), Journal of International Money and Finance 130: 102771, February 2023

"Macrofinancial Causes of Optimism in Growth Forecasts" (with José Marzluf), IMF Economic Review 71: 509-537, May 2023.

"The Impact of Uncertainty Shocks in Emerging Economies" (with Luis Felipe Céspedes), Journal of International Economics 90(2): pp. 316-25, July 2013.

"Inflation and Monetary Policy in a Low-Income and Fragile State: The Case of Guinea" (with Fidèle Koumtingué and Sebastian Weber), Journal of African Economies, In Press, January 2024.

"Macroeconomic Effects of Fiscal Consolidation in Emerging Economies: New Narrative Evidence from Latin America and the Caribbean," (with Antonio David and Daniel Leigh) Journal of Money, Credit and Banking 53(6): 1313-35, February 2021.

"Monetary Policy Credibility and Exchange Rate Pass-Through" (with Bertrand Gruss, Nicolas Magud and Fabián Valencia), International Journal of Central Banking 17(3): 61-94, September 2021.

"Exchange Rate Flexibility, the Real Exchange Rate, and Adjustment to Terms-of-Trade Shocks" (with Nicolás Magud and Juan Yépez), Review of International Economics 29(2): 439-83, May 2021.

"Nowcasting with Google Trends in an Emerging Market" (with Felipe Labbé), Journal of Forecasting 32(4): 289-98, November 2011.

Publications in Books and Conference Volumes

"Open Banking and the Economics of Data" (with Vikram Haksar), Chapter 7 in Open Banking, edited by Linda Jeng. Oxford University Press, 2022.