Pierre-Olivier Gourinchas is a French

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

who currently works as S.K. and Angela Chan Professor of Management at the

University of California, Berkeley The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California) is a public land-grant research university in Berkeley, California. Established in 1868 as the University of California, it is the state's first land-grant u ...

, where he also directs the Clausen Center for International Business and Policy and is affiliated with the

Haas School of Business The Walter A. Haas School of Business, also known as Berkeley Haas, is the business school of the University of California, Berkeley, a public research university in Berkeley, California. It was the first business school at a public university i ...

. His research focuses on

macroeconomics Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and ...

, in particular

international macroeconomics International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries. Inter ...

and

international finance International finance (also referred to as international monetary economics or international macroeconomics) is the branch of financial economics broadly concerned with monetary and macroeconomic interrelations between two or more countries. Inter ...

. In 2008, Gourinchas received the Prize of the Best Young Economist of France. Effective January 24, 2022, he was appointed the Chief Economist of the International Monetary Fund (

IMF The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster globa ...

), succeeding

Gita Gopinath Gita Gopinath (born 8 December 1971) is an Indian-American economist who has served as the first deputy managing director of the International Monetary Fund (IMF), since 21 January 2022. She had previously served as chief economist of the IMF be ...

. As Chief Economist, he is part of th
Senior Leadership of the IMF

Biography

Pierre-Olivier Gourinchas studied at the

École Polytechnique École may refer to: * an elementary school in the French educational stages normally followed by secondary education establishments (collège and lycée) * École (river), a tributary of the Seine flowing in région Île-de-France * École, Savoi ...

(1987–90),

École des Ponts et Chaussées École may refer to: * an elementary school in the French educational stages normally followed by secondary education establishments (collège and lycée) * École (river), a tributary of the Seine flowing in région Île-de-France * École, Savoi ...

(1990-93), and

Massachusetts Institute of Technology The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the ...

(1993–96), obtaining a

Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is a ...

from the last with a thesis on

exchange rate In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...

s and consumption under Olivier Blanchard, Ricardo Caballero and

Rudiger Dornbusch Rüdiger Dornbusch (June 8, 1942 – July 25, 2002) was a German economist who worked in the United States for most of his career. Early life and education Dornbusch was born in Krefeld in present-day North Rhine-Westphalia. After completing his ...

. Since his graduation, Gourinchas has held academic positions at the

Stanford Graduate School of Business The Stanford Graduate School of Business (also known as Stanford GSB) is the graduate business school of Stanford University, a private research university in Stanford, California. For several years it has been the most selective business schoo ...

Princeton University Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...

, and - since 2003 - at the

, where he has been the Director of the Clausen Center for International Business and Policy since 2013. Moreover, Gourinchas is also editor-in-chief of the '' IMF Economic Review'', managing editor of the ''

Journal of International Economics The ''Journal of International Economics'' is a peer-reviewed academic journal in the field of economics. The journal publishes articles on both theoretical and empirical aspects of international economics. Various topics covered include trade pat ...

'' and co-director of the NBER International Finance and Macroeconomics programme. He is a fellow of the

Econometric Society The Econometric Society is an international society of academic economists interested in applying statistical tools to their field. It is an independent organization with no connections to societies of professional mathematicians or statisticians. ...

Research

Pierre-Olivier Gourinchas' research interests include consumption, precautionary savings, credit expansions, the

forward premium anomaly The forward premium anomaly in currency markets (also referred to as the forward premium puzzle or the Fama puzzle) refers to the well documented empirical finding that the domestic currency appreciates when domestic nominal interest rates exceed f ...

s and labour markets. According to

IDEAS/RePEc Research Papers in Economics (RePEc) is a collaborative effort of hundreds of volunteers in many countries to enhance the dissemination of research in economics. The heart of the project is a decentralized database of working papers, preprints, ...

, Gourinchas belongs to the top 2% of economists as ranked by research output.Ranking of economists registered on IDEAS/RePEc. Retrieved May 16th, 2018.
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Key publications

* Gourinchas, P.O., Parker, J.A. (2002). Consumption over the life cycle. ''Econometrica'', 70(1), pp. 47–89. * Gourinchas, P.O., Farhi, E., Caballero, R.J. (2008). An Equilibrium Model of "Global Imbalances" and Low Interest Rates. ''American Economic Review'', 98, pp. 358–393. * Gourinchas, P.O., Rey, H. (2007). From world banker to world venture capitalist: US external adjustment and the exorbitant privilege. In: Clarida, R.H. (ed.). ''G7 Current Account Imbalances''. Chicago: University of Chicago Press, pp. 11–66. * Gourinchas, P.O., Rey, H. (2005). International financial adjustment. ''NBER Working Paper Series''. * Gourinchas, P.O., Jeanne, O. (2006). The elusive gains from international financial integration. ''Review of Economic Studies'', 73(3), pp. 715–741. * Gourinchas, P.O., Obstfeld, M. (2012). Stories of the twentieth century for the twenty-first. ''American Economic Journal: Macroeconomics'', 4(1), pp. 226–265. * Gourinchas, P.O., Valdes, R., Landerretche, O. (2001). Lending booms: Latin America and the world. ''NBER Working Paper Series''. * Gourinchas, P.O., Jeanne, O. (2007). Capital flows to developing countries: The allocation puzzle. ''NBER Working Paper Series''. * Gourinchas, P.O., Rey, H. (2014). External adjustment, global imbalances, valuation effects. In: ''Handbook of International Economics'', vol. 4. Amsterdam: Elsevier, pp. 585–645. * Gourinchas, P.O., Tornell, A. (2004). Exchange rate puzzles and distorted beliefs. ''Journal of International Economics'', 64(2), pp. 303–333. * Li, N. et al. (2010). International prices, costs, and markup differences. ''American Economic Review''.

References

External links

Homepage of Pierre-Olivier Gourinchas

Google Scholar profile of Pierre-Olivier Gourinchas
{{DEFAULTSORT:Gourinchas, Pierre-Olivier 21st-century French economists École Polytechnique alumni Fellows of the Econometric Society French economists Haas School of Business faculty International economists International Monetary Fund people Living people Macroeconomists Year of birth missing (living people)