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The State of Economics: From Chronic Inflation to Chronic Deflation

Thinkers instrumental in shaping contemporary economics do a major stocktaking of the field, and also look ahead at the challenges of global development. The speakers reflect on the way thinking in economics has evolved in his or her area of interest, and also speculate about how the global economy is likely to evolve and the challenges this will pose for humankind, economic analysis, and polic... view more

VIDEO

From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since WWII | Augusto de la Torre and Guillermo Calvo

VIDEO

From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since WWII | Guillermo Calvo

VIDEO

From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since WWII | Gita Gopinath

VIDEO

From Chronic Inflation to Chronic Deflation: Focusing on Expectations and Liquidity Disarray Since WWII | Luis Servén & Guillermo Calvo

About the Presenters

Augusto de la Torre

Chief Economist, Latin America and the Caribbean Region, World Bank
Augusto de la Torre, is the Chief Economist for Latin American and the Caribbean. Before his appointment as the region’s Chief Economist, Augusto de la Torre was a Senior Advisor responsible for financial matters in Latin America and the Caribbean. Since joining the Bank in October 1997, he has published extensively on a broad range of macroeconomic and financial development topics.

Guillermo Calvo

Professor of Economics, Columbia University
Guillermo Calvo is Professor of Economics, International and Public Affairs, and Director of the Program in Economic Policy Management (PEPM) at Columbia University. . He is a Research Associate at the National Bureau of Economic Research (NBER). He is the former Chief Economist of the Inter-American Development Bank (2001-2006), President of the Latin American and Caribbean Economic Association, LACEA, 2000-2001, and President of the International Economic Association, IEA, 2005-2008. He was professor of economics at Columbia University (1973-1986), the University of Pennsylvania (1986-1989), and Distinguished University Professor at the University of Maryland (1993-2006). He was Senior Advisor in the Research Department of the IMF (1988-1993), and afterwards advised several governments in Latin America and Eastern Europe. His main field of expertise is macroeconomics of Emerging Market and Transition Economies. His recent work has dealt extensively with capital flows and balance-of-payments crises in Emerging Market Economies. He has published several books and more than 100 articles in leading economic journals. His latest book “Emerging Capital Markets in Turmoil: Bad Luck or Bad Policy?” was published in 2005 by MIT Press, Cambridge, MA. He graduated with a Ph.D. from Yale in 1974.

Gita Gopinath

John Zwaanstra Professor of International Studies and of Economics, Harvard University
Gita Gopinath is the John Zwaanstra Professor of International Studies and of Economics at Harvard University. Her research focuses on International Finance and Macroeconomics. She is a visiting scholar at the Federal Reserve Bank of Boston, member of the economic advisory panel of the Federal Reserve Bank of New York, a Managing Editor of the Review of Economic Studies, co-editor of the current Handbook of International Economics, and a research associate with the National Bureau of Economic Research (NBER) for the programs in Economic Fluctuations and Growth, International Finance and Macroeconomics, and Monetary Economics. She also served as a member of the Eminent Persons Advisory Group on G-20 Matters for India's Ministry of Finance. In 2011, she was chosen as a Young Global Leader by the World Economic Forum. Before coming to Harvard, she was an assistant professor of economics at the University of Chicago's Graduate School of Business.

Luis Servén

Senior Adviser, Macroeconomics and Growth, Development Research Group, World Bank
Luis Servén is Senior Adviser in the World Bank’s Research Department. He manages the research program on macroeconomics and growth. He is currently co-editor of the World Bank Economic Review. He previously managed the Bank’s regional research program for Latin America and the Caribbean. He has taught at the Universidad Complutense of Madrid, the Sloan School of Management at MIT, and the Center for Monetary and Financial Studies. He has published numerous books and journal articles on economic growth, open economy macroeconomics, capital flows, fiscal policy, and saving and investment, His current research focuses on exchange rates and international finance, the microeconomic foundations of growth, and the macroeconomic effects of fiscal policy. He holds a BA in Economics from the Universidad Complutense de Madrid and a Ph.D. in Economics from MIT.