2019 Forum – speakers

She is also a faculty research associate on the International Finance & Macroeconomics and International Trade & Investment programmes of the National Bureau of Economic Research. She is a member of the International Finance Corporation’s Economic Advisory Board, the Latin American Committee on Macroeconomic and Financial Issues, and the Policy Committee of the David Rockefeller Center for Latin American Studies.

She served as Minister of National Planning and Economic Policy in Costa Rica from 2010 to 2012 and earnt her PhD in Economics from the University of California, Los Angeles, where she also received the Dissertation Fellowship award. She received a bachelor’s degree in Economics with honours from the Universidad de Costa Rica and a degree from the Pontificia Universidad Católica de Chile where she graduated with highest honours. She was awarded a Francisco Marroquín Foundation scholarship in 1992, and in 2008 she was honoured as a Young Global Leader by the World Economic Forum.

Professor Alfaro is the author of multiple articles published in leading academic journals such as the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, and the Journal of International Economics. She is also author of Harvard Business School cases related to the field of international economics and, in particular, international capital flows, foreign direct investment, global value chains, sovereign debt and emerging markets.

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He obtained his PhD from MIT in 1977 and taught at Harvard University from 1977 to 1982, and at MIT from 1982 onwards. In 2008 he took a leave from MIT to become Chief Economist and Economic Counsellor at the International Monetary Fund, a post he kept until 2015. He is a member of the American Academy of Arts and Sciences, a fellow of the Econometric Society, a research associate at the National Bureau of Economic Research, and a past president of the American Economic Association. He is an officier of the Légion d’Honneur.

His field is macroeconomics. He is the author of many papers and two textbooks: a graduate textbook with Stanley Fischer and an undergraduate textbook, now in its seventh edition.

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He is also the Principal Investigator of the Survey of Health, Ageing and Retirement in Europe (SHARE) and the Managing Director of the SHARE European Research Infrastructure Consortium (ERIC).

He holds a diploma in Mathematics from the University of Bonn and a PhD in Economics from the Massachusetts Institute of Technology. He was Assistant Professor of Public Policy at the John F. Kennedy School of Government at Harvard University from 1984 to 1989. After a short stay as Professor of Economic Theory at the Technical University of Dortmund, he was Professor of Macroeconomics and Public Policy at the University of Mannheim until 2011.

Professor Börsch-Supan is a member of the German National Academy of Sciences, the Berlin-Brandenburg Academy of Sciences and Humanities, and the MacArthur Research Network on an Aging Society. He is also a corresponding member of the Austrian Academy of Sciences.

Professor Börsch-Supan’s policy consulting includes: Council of Economic Advisers to the German Economics Ministry (Chair, 2004-08), the German Government’s Expert Group on Demography and German Pension Reform Commissions (2003 and 2018), several other ministries in Germany, the Deutsche Bundesbank, several other governments in the European Union and the United States, the European Commission, the Organisation for Economic Co-operation and Development, the World Health Organization, the World Economic Forum and the World Bank.

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Before joining the OECD, she was the Chief Economist at AXA Group; Global Head of Multi-Asset Client Solutions and Trading & Securities Financing at AXA Investment Managers, France; and an independent director of Kering’s Board of Directors. She remains a member of Agence France Trésor’s Strategic Committee.

Prior to this, she was Special Adviser to the President of the French Republic, Chief Economist and Managing Director at Bank of America Merrill Lynch, Managing Director and Chief Economist at Barclays Capital France, Economist at the OECD and the Centre d’études prospectives et d’informations internationales (CEPII), and Quantitative Analyst for Merrill Lynch Asset Management.

She is a member of Le Cercle des économistes and the SDA Bocconi School of Management.

She taught at the École polytechnique, the French National School of Statistics (École Nationale de la Statistique et de l’Administration Économique – ENSAE) and the École normale supérieure and Sciences Po (Paris School of International Affairs).

She has a PhD in Applied Econometrics from the London Business School, an MSc in Econometrics and Macroeconomic Modelling from the University of Reading, a master’s degree in Economics from Université Paris Nanterre, and a postgraduate diploma in Modelling and Quantitative Analysis from Université Paris Nanterre.

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He is a faculty member of the Department of Economics and Director of Princeton University’s Bendheim Center for Finance. He is also a research associate at the National Bureau of Economic Research, the Centre for Economic Policy Research and the CESifo Group, and a member of the Bellagio Group on the International Economy. He is a Sloan Research Fellow, Fellow of the Econometric Society, Guggenheim Fellow, and the recipient of the Bernácer Prize granted for outstanding contributions in the fields of macroeconomics and finance. He is/was a member of several advisory groups, including to the International Monetary Fund, the Federal Reserve Bank of New York, the European Systemic Risk Board, the Deutsche Bundesbank and the US Congressional Budget Office. Brunnermeier was awarded his PhD by the London School of Economics.

His research focuses on international financial markets and the macroeconomy with special emphasis on bubbles, liquidity, and financial and monetary price stability. To explore these topics, his models incorporate frictions as well as behavioral elements. He has been awarded several best paper prizes and served on the editorial boards of several leading economics and finance journals. He has tried to establish the following concepts: liquidity spirals, CoVaR as a systemic co-risk measure, the Volatility Paradox, the Paradox of Prudence, ESBies, financial dominance and the redistributive monetary policy. His recent book is titled The Euro and the Battle of Ideas.

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His appointment as Governor was approved by Her Majesty the Queen on 26 November 2012 and he joined the Bank on 1 July 2013.

In addition to his duties as Governor of the Bank of England, he serves as First Vice-Chair of the European Systemic Risk Board, a member of the Group of Thirty and the Foundation Board of the World Economic Forum.

Mark Carney was born in Fort Smith, Northwest Territories, Canada in 1965. He received a bachelor’s degree in Economics from Harvard University in 1988, before completing a master’s degree in Economics in 1993 and a doctorate in Economics in 1995, both from Oxford University.

After a 13-year career with Goldman Sachs in its London, Tokyo, New York and Toronto offices, Mark Carney was appointed Deputy Governor of the Bank of Canada in August 2003. In November 2004 he left the Bank of Canada to become Senior Associate Deputy Minister of Finance. He held this position until his appointment as Governor of the Bank of Canada on 1 February 2008. Mark Carney served as Governor of the Bank of Canada and Chair of its Board of Directors until 1 June 2013.

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He is responsible for International and European Relations and Market Operations. He has been Chairman of the Committee on Payments and Market Infrastructures of the Bank for International Settlements since October 2013.

Prior to joining the ECB, he served in various policy positions at the French Treasury. He was the Deputy Chief Executive, then Chief Executive, of Agence France Trésor between 2002 and 2007. From 2007 to 2009 he was France’s Assistant Secretary for Multilateral Affairs, Trade and Development and from 2009 to 2011 he was Deputy Director General and Chief Economist of the French Treasury.

Mr Cœuré is a graduate of the École polytechnique in Paris. He holds an advanced degree in Statistics and Economic Policy from the French National School of Statistics (École nationale de la statistique et de l’administration économique) – ENSAE) and a bachelor’s degree in Japanese. He is an Affiliate Professor at Sciences Po in Paris. He has authored articles and books on economic policy, the international monetary system and the economics of European integration. These publications include Economic Policy: Theory and Practice, Oxford University Press, new edition published in 2018 (with Agnès Bénassy-Quéré, Pierre Jacquet and Jean Pisani-Ferry) and “Economie de l’euro” (The euro economy), revised edition published in 2014 (with Agnès Bénassy-Quéré).

He is also a member of the Executive Board, the Governing Council and General Council of the ECB.

He was Spain’s Minister of Economy, Industry and Competitiveness from 2016 to 2018, Minister of Economy and Competitiveness from 2011 to 2016, Secretary of State for Economic Affairs, and member of the Economic and Financial Committee of the European Union from 2002 to 2004. He was Secretary General for Economic and Competition Policy from 2000 to 2002 and Director General from 1996 to 2000.

Mr de Guindos was Head of Financial Services at PricewaterhouseCoopers (PwC) from 2008 to 2009, and Director at IE Business School and PwC’s centre for the finance sector from 2010 to 2011. He was Chief Executive Officer Iberia at Lehman Brothers and Chief Executive Officer at Nomura Securities from 2006 to 2008.

He graduated with honours in Economics from Colegio Universitario de Estudios Financieros (CUNEF) in Spain in 1982, and graduated as State Economist and Trade Expert in 1984.

He is also a member of the Board of Directors of the Bank for International Settlements.

From 2006 to 2011 he served as Governor of the Banca d’Italia. In April 2006 he was elected Chairman of the Financial Stability Board and served in that function until November 2011. Prior to taking the helm of the Banca d’Italia, he was Vice-Chairman and Managing Director at Goldman Sachs International (2002-05), Director General of the Italian Treasury (1991-2001), Chairman of the European Economic and Financial Committee (2000-01) and Chairman of the OECD’s Working Party No 3 (1999-2001). In 1993 he was appointed Chairman of the Italian Committee for Privatisations and from 1984 to 1990 he was an Executive Director of the World Bank. During his time at the Treasury, he chaired the committee that revised Italian corporate and financial legislation and drafted the law that governs Italian financial markets. He has also served on the boards of several banks and corporations.

Mr Draghi graduated from the Sapienza Università di Roma in 1970 and received his PhD in economics from the Massachusetts Institute of Technology in 1977. He has written and edited a number of publications on macroeconomic and financial issues.

Mr Draghi has been a member of the Board of Trustees of the Institute for Advanced Study in Princeton since 2009. He was previously an Honorary Trustee of the Brookings Institution and an Institute of Politics Fellow at the John F. Kennedy School of Government at Harvard University.

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Stanley Fischer has been a senior adviser to BlackRock since January 2019.

His previous position had been as a member of the Board of Governors of the Federal Reserve System, which he joined on 28 May 2014. He became Vice Chairman of the Board of Governors on 16 June 2014. He resigned from this position and the Board of Governors for personal reasons on 16 October 2017.

Dr Fischer headed the internal supervision of the key policy divisions of the Federal Reserve Board and also the Board’s Financial Stability Committee; he served with the Board’s incoming Chair on the administrative budget committee and chaired the important Communications Sub-committee of the Federal Reserve’s Federal Open Market Committee (FOMC).

Prior to his appointment to the Federal Reserve Board, Dr Fischer served as Governor of the Bank of Israel from 2005 to 2013. He is generally credited as having played a key role in minimising the effects of the Great Financial Crisis on the Israeli economy and became known as the “responsible adult” of the economic policy team of the Israeli economy. The Bank of Israel reduced its interest rate rapidly after the failure of Lehman Brothers and was the first central bank from an advanced country to raise its interest rate as the economy began to recover from its short (two-quarter) period of negative growth in 2009. Israel did not suffer from a financial crisis during the Great Financial Crisis.

During his period in office Dr Fischer was involved in the passing of a new Bank of Israel law, which modernised the Bank’s governance structure, in particular by shifting from a one-person decision-making model for monetary policy to that of a six-member Monetary Policy Committee, which he chaired. In addition, the new law created a seven-member Management Committee, headed by a leading businessman, with only two Bank of Israel employees (the Governor and the Deputy Governor) as members and four other members from the general public.

From February 2002 to April 2005 Dr Fischer was Vice Chairman of Citigroup. The experience he acquired in the private financial sector was extremely helpful in maintaining financial stability in Israel and subsequently in his role as Chair of the Financial Stability Committee of the Federal Reserve Board. In addition, he accompanied Citigroup staff on their visits to financial sector and other clients, thereby increasing his practical knowledge of the issues that affect bank lending and its effects on the economy.

Dr Fischer served as the First Deputy Managing Director of the International Monetary Fund (IMF) from September 1994 to August 2001. As the number two official at the IMF, he played a critical part in the management of the Fund’s assistance to member countries – among them Russia, Ukraine, Poland, Korea, Thailand, Indonesia, Mexico, Brazil, Jordan and many others – during the financial crisis of the late 1990s. From January 1988 to August 1990 he was the Chief Economist of the World Bank during a period in which the main issue facing the Bank was the Latin American debt crisis.

From 1977 to 1999 Dr Fischer was Professor of Economics at the Massachusetts Institute of Technology (MIT). From 1973 to 1977 Dr Fischer was an Associate Professor of Economics at MIT. He was the thesis adviser to several students who later became important central bankers and other economic policymakers of both large and small economies. Among them were Ben Bernanke, Christina Romer, Olivier Blanchard, Greg Mankiw, the governors of the central banks of Australia, Chile, Brazil and other emerging market economies, and the heads of policy divisions at the Federal Reserve Board.

Before joining MIT, Dr Fischer was a postdoctoral fellow and Assistant Professor of Economics at the University of Chicago. This period was an excellent complement to his PhD education at MIT.

Dr Fischer has published many articles in professional journals and is the author and editor of several books. He was born in Lusaka, Zambia in October 1943. He was granted BSc (1965) and MSc (1966) degrees in Economics from the London School of Economics and his PhD in Economics from MIT in 1969.

Dr Fischer is married with three grown-up children.

He is a member of the High-level Advisory Board of the United Nations on the sustainable development goals and works with various non-governmental organisations to help improve disadvantaged children’s equality of opportunity. His work focuses on macroeconomics, inequality and European integration, on which he has published three books since 2014. He has a fortnightly column in Zeit Online and regularly contributes to the German and international media, including the Financial Times, the Wall Street Journal and Project Syndicate.

She is on leave of public service from Harvard University’s Department of Economics where she is the John Zwaanstra Professor of International Studies and of Economics.

Ms Gopinath’s research, which focuses on international finance and macroeconomics, has been published in many top economics journals. She has authored numerous research articles on exchange rates, trade and investment, international financial crises, monetary policy, debt and emerging market crises.

She co-edited the American Economic Review and the latest volume of the Handbook of International Economics, and was the managing editor of the Review of Economic Studies. She has also previously served as a co-director of the National Bureau of Economic Research’s International Finance and Macroeconomics programme, a visiting scholar at the Federal Reserve Bank of Boston, and a member of the Federal Reserve Bank of New York’s Economic Advisory Panel. From 2016 to 2018 she was the Economic Adviser to the Chief Minister of Kerala state in India. She also served as a member of the Eminent Persons Advisory Group on G20 Matters for India’s Ministry of Finance.

Ms Gopinath is an elected fellow of the American Academy of Arts and Sciences and of the Econometric Society, and received the Distinguished Alumnus award from the University of Washington in 2017. She was named one of the top Global Thinkers by Foreign Policy in 2019, and one of the top 25 economists under 45 by the IMF in 2014. In 2011 she was chosen as a Young Global Leader by the World Economic Forum. The Indian Government awarded her the Pravasi Bharatiya Samman, the highest honour awarded to overseas Indians. Before joining the faculty of Harvard University in 2005, she was an Assistant Professor of Economics at the University of Chicago Booth School of Business.

She received her PhD in Economics from Princeton University in 2001 after earning a bachelor’s degree from Lady Shri Ram College for Women and master’s degrees from the Delhi School of Economics and the University of Washington.

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He holds a doctorate in Economics from the Massachusetts Institute of Technology and has held academic positions at the universities of Stanford, Princeton, Bonn, Basel, Harvard and Mannheim. He is a former President of the European Economic Association and the Verein für Socialpolitik, a Foreign Honorary Member of the American Economic Association, a Fellow of the Econometric Society, and a former co-editor of Econometrica. He has also been active in policy work, including as President of the German Monopolies Commission (Monopolkommission) (2000-04) and Chair and Vice-Chair of the Advisory Scientific Committee of the European Systemic Risk Board (2011-15). His work on international financial regulation was honoured with the Max Planck Research Award in 2012.

Martin Hellwig has published extensively in many areas of economics and finance, the economics of information and incentives, financial markets and financial institutions, competition policy and network industry regulation, and public economic theory. His work has appeared in journals such as the American Economic Review, Econometrica, the Journal of Finance, the Review of Economic Studies, the Journal of Economic Theory and the Journal of Public Economics. His publications on systemic risk and financial regulation in the 1990s were the first to expose some of the mechanisms that would be detrimental in the crisis of 2007-09. His book The Bankers’ New Clothes: What’s Wrong with Banking and What to Do about It, co-authored with Anat Admati, was published by Princeton University Press in 2013.

He is also a Research Director at the French National Centre for Scientific Research (Le centre national de la recherche scientifique – CNRS). He received a master’s degree in International Business from HEC Paris and a PhD in Economics from New York University. Until 2010, he was a Professor at the London Business School.

Jean’s research focuses on international macroeconomics, with an interest in the consequences of microeconomic complexity for macroeconomic phenomena. He currently works on the emergence of hubs in the global supply chain and the consequences these have on worldwide volatility and contagion. He also studies how local geography and topography influence economic outcomes at local and global levels. Jean has published in major professional economics journals, including the American Economic Review, the Quarterly Journal of Economics, the Journal of Financial Economics and the Journal of International Economics.

Jean consults regularly with major policy institutions, including the International Monetary Fund, the World Bank, the European Central Bank, the European Commission, the Bank of England and Her Majesty’s Treasury. He has visited Princeton University, the University of Chicago Booth School of Business, New York University, HEC Paris and INSEAD.

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She is based in Frankfurt and, prior to this, covered the Bank of England in London. She studied Philosophy and Economics at the London School of Economics.

For almost 20 years (1995-2013), he served as Prime Minister of Luxembourg, and from 2005 to 2013, he was also President of the Eurogroup, comprising the ministers of economics and finance of the euro area member countries.

On 7 March 2014 he was elected and ran as the candidate of the European People’s Party (EPP) for the Presidency of the European Commission in the first ever Europe-wide campaign. Following European Parliament elections in May 2014, he was nominated as candidate for President of the European Commission by the European Council on 27 June 2014 and elected by the European Parliament on 15 July of the same year.

Five years into his term of office, he has built a political Commission focusing on citizens’ key concerns and one which strengthens Europe’s place on the world stage, laying the foundations for a stable and united future for the European Union. Now that all of the initiatives contained in President Juncker’s electoral programme have already been proposed, the Commission’s focus has increasingly turned from the making of new legislative proposals to ensuring concrete delivery in a number of priority areas.

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She is a research associate at the National Bureau of Economic Research and a research fellow at the Centre for Economic Policy Research. Professor Kalemli-Özcan received her PhD from Brown University in 2000. She was the Duisenberg Fellow at the European Central Bank in 2008 and held a position as Lead Economist/Adviser for the Middle East and North Africa region at the World Bank from 2010 to 2011. She has held positions as a visiting professor at Bilkent University, Koç University and Harvard University. She was the Houblon-Norman Fellow of the Bank of England and the International Affairs Fellow in International Economics of the Council on Foreign Relations based at the Federal Reserve Board and the International Monetary Fund for 2017-18. She is the first Turkish social scientist to have received the Marie Curie IRG prize, which she was awarded in 2008 for her research on European financial integration. She currently serves on the editorial boards of the American Economic Review and the Journal of the European Economic Association, and she is the co-Editor of the Journal of International Economics. Professor Kalemli-Özcan has published extensively in the areas of international finance, international development and applied growth theory in journals such as the American Economic Review, the Quarterly Journal of Economics, the Journal of Finance, the Journal of the European Economic Association, and the Review of Economics and Statistics. Her current research focuses on the links between capital flows and macroeconomic fluctuations and growth. She works with big data from firms and banks worldwide to identify the linkages between financial and real sectors both in advanced countries and emerging markets.

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He is responsible for the Directorate General Economics and the Directorate General Monetary Policy. Before joining the ECB, he was the Governor of the Central Bank of Ireland. He has also chaired the Advisory Scientific Committee and Advisory Technical Committee of the European Systemic Risk Board and was Whately Professor of Political Economy at Trinity College Dublin. He is also a research fellow at the Centre for Economic Policy Research. A graduate of Trinity College Dublin, he was awarded a PhD in Economics from Harvard University in 1995 and was Assistant Professor of Economics and International Affairs at Columbia University from 1995 to 1997, before returning to Dublin. In 2001 he was the inaugural recipient of the Bernácer Prize for outstanding contributions to European monetary economics.

After passing the second state examination in Law, Sabine Lautenschläger joined the German Federal Banking Supervisory Office (Bundesaufsichtsamt für das Kreditwesen – BAKred), which later became the Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin). Over the course of her career at BAKred and BaFin, she held several management positions before being appointed BaFin’s Chief Executive Director of Banking Supervision in 2008. Later, in 2011, she became a Member of the European Banking Authority’s (EBA) Management Board and Board of Supervisors in London.

In 2011 Sabine Lautenschläger moved to the Deutsche Bundesbank, serving as Vice-President until January 2014 when she was appointed to the Executive Board of the European Central Bank (ECB). As Member of the Executive Board she is also Member of the Governing Council, which is responsible for monetary policy in the euro area. During her term as Vice-Chair of the Supervisory Board, from February 2014 until February 2019, Sabine Lautenschläger was also responsible for ECB Banking Supervision. She represented ECB Banking Supervision in the Basel Committee on Banking Supervision and in the Financial Stability Board plenary.

She studied Statistics and Economics at Sapienza University of Rome, where she received her degree summa cum laude. Before graduate school, she worked at the World Bank in the Latin America and Caribbean Region unit. She received a master’s degree and a PhD in Economics from Harvard University, where she was also a Doctoral Fellow at the Center for International Development. She was a visiting scholar at several institutions including the Trade Unit of the International Monetary Fund’s Research Department, the University of Milan, the Einaudi Institute for Economics and Finance in Rome and the Centre d’études prospectives et d’informations internationales in Paris. More recently she was Senior Economist and Senior Adviser to the Chief Economist at the US State Department during the Obama administration. She is a research affiliate at the Centre for Economic Policy Research and the Institute of Labor Economics.

Anna Maria Mayda’s research mainly focuses on issues of trade, immigration and development economics and has been published in journals such as the Quarterly Journal of Economics, the Review of Economics and Statistics, the Journal of International Economics, and the European Economic Review. She has also been awarded two National Science Foundation grants. She has worked on topics such as the determinants of individual attitudes towards trade and immigration across countries, the role played by interest groups in shaping US trade and migration policy, multilateral trade negotiations and preferential trade agreements, the determinants of international migration flows, the H-1B visa, and the refugee resettlement programmes in the United States.

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He has also co-authored a wide range of works on international trade, urban economics and economic geography. His recent publications focus on the competitiveness of firms in the global economy as well as the economic effects of immigration and offshoring on employment and wages.

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Peter Praet joined the European Central Bank (ECB) as a member of the Executive Board in 2011. He was responsible for the Directorate General Economics and the Directorate General Monetary Policy.

Mr Praet gained a PhD in Economics from the Université libre de Bruxelles in 1980. He was an Economist at the International Monetary Fund from 1978 to 1980, Professor of Economics at the Université libre de Bruxelles from 1980 to 1987, Chief Economist of Générale de Banque and Fortis Bank from 1988 to 1999, and Chef de cabinet for the Belgian Minister of Finance from 1999 to 2000. Before joining the ECB, he was Executive Director of the Nationale Bank van België/Banque Nationale de Belgique from 2000 to 2011, where he was responsible for international cooperation, financial stability, and oversight of financial infrastructures and payments systems. Between 2002 and 2011 he was also a member of the Management Committee of the Belgian Banking, Financial and Insurance Commission, where he was responsible for prudential policy for banking and insurance.

Mr Praet has served on several high-level international bodies, including the Basel Committee on Banking Supervision, the Committee on Payment and Settlement Systems, the Committee on the Global Financial System and the European Banking Authority. He was First Alternate of the Board of Directors of the Bank for International Settlements from 2000 to 2011.

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He has a PhD from Harvard University and previously taught in the faculties of Princeton University and Columbia University. Recent honours include the 2016 Bernácer prize and the 2017 Banque de France/Toulouse School of Economics junior prize. He is an academic consultant at the Bank of England and the Federal Reserve System; directs the Centre for Macroeconomics in the United Kingdom; is a recipient of a European Research Council grant from the European Union; and serves on the council of, or as an adviser to, multiple organisations.

He has published widely in macroeconomics and his main areas of research are inflation expectations, unconventional monetary policies and the central bank’s balance sheet, disagreement and inattention, business cycle models with inequality, automatic stabilisers, sovereign-bond backed securities, and the role of capital misallocation in the European slump and crisis.

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Until 2007, she was at Princeton University, as Professor of Economics and International Affairs. Her research focuses on external imbalances, financial crises, the links between monetary policy and the financial sector and the organization of the international monetary system. In 2006, she received the Bernácer Prize, in 2012, the inaugural Birgit Grodal Award, in 2013 the Yrjö Jahnsson Award jointly with Thomas Piketty, in 2014 the inaugural Carl Menger Preis and in 2016 the Prix Edouard Bonnefous of the Académie des Sciences Morales et Politiques. She is a Fellow of the Econometric Society, of the British Academy, of the European Economic Association, a Foreign Member of the American Academy of Arts and Sciences and a Foreign Honorary Member of the American Economic Association. She is an editor of the Annual Review of Economics. She is on the board of the French macroprudential authority.

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