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Adam Posen, Deputy Director, Peterson Institute for International Economics

Biography provided by participant

Adam Posen is deputy director of the Peterson Institute for International Economics in Washington, DC, where he has been a senior fellow since 1997. His research focuses on macroeconomic policy and performance, European and Japanese political economy, and central banking issues. The Institute will publish his new book, Reform and Growth in a Rich Country: Germany, partially supported by a major grant from the German Marshall Fund of the United States, in early 2008. As deputy director, he leads the Institute's recruitment of senior researchers and its outreach initiatives to press and the general public, coordinates with partner research institutions and Institute supporters, and oversees administration and finance for the Institute's $9 million annual budget and 55 person staff. A widely cited expert on monetary policy, he has been a visiting scholar at central banks worldwide, including on multiple occasions at the Federal Reserve Board, the European Central Bank, and the Deutsche Bundesbank. In 2006 he was on sabbatical leave from the Peterson Institute as a Houblon-Norman Senior Fellow at the Bank of England. He has also been a consultant to several US government agencies (including the Departments of State and Treasury and the Council of Economic Advisors), the European Commission, the Japanese Ministry of Economy, Trade, and Industry, and to the International Monetary Fund on a variety of economic and foreign policy issues. He is a member of the Panel of Economic Advisers to the Congressional Budget Office for 2007-09. From 1994 to 1997, he was an economist at the Federal Reserve Bank of New York, where he advised senior management on monetary strategies, the G-7 economic outlook, and European monetary unification. In 1993-94, he was Okun Memorial Fellow in Economic Studies at the Brookings Institution and won the Amex Bank Review Awards Silver Medal for his dissertation research on central bank independence. In 1992-93, he was resident in Germany as a Bosch Foundation Fellow. He received his Ph.D. and his A.B. (Phi Beta Kappa) from Harvard University, where he was a National Science Foundation Graduate Fellow.

Recent Responses

April 20, 2009 02:41 PM

RE: What Form Will The Recovery Take?

One take on a W-shaped future is here. (http://www.iie.com/publications/papers/pp20090410posen.pdf)…  Read more

April 14, 2009 09:23 AM

RE: Crony Capitalism In America?

Like most writing here, I think Simon makes a good broad point, but I also think the emerging market analogy is overdone - too broad brush for both the US and the EMs.  I would add two points for how/what actually happened, and then suggest where we go from here. First, we have to recognize that a vast majority of the mainstream economics profession either actively or passively believed in financial innovation as a good thing.  Some of this was intimidation and peer pressure, but most of this was genuine.  There were critics (Rajan, Stiglitz...) and most did not quite go as…  Read more

March 24, 2009 09:45 AM

RE: Will The New Rescue Plan Work?

The Treasury’s Financial Stability Plan: Solution or Stopgap? by Adam S. Posen | March 23rd, 2009 | 05:55 pm I hope it works. The financial stability plan presented on March 23 by Treasury Secretary Timothy Geithner could be a part of the solution because it would remove some of the bad assets from the banks’ balance sheets and put some capital into the banks.  The Treasury’s is clearly trying clever tactics to avoid going to Congress for more upfront on-budget expenditures to fix the banks. Even in the best case, though, I worry that the avoidance of upfont costs…  Read more

January 20, 2009 04:46 PM

RE: Do We Need An Inflation Target?

It couldn't hurt.  As I argued with respect to Japan in 1998, or as Bernanke, Mishkin and I argued with respect to inflation targeting in general in 1999, the point of inflation targeting is to anchor expectations at a stable low level - and it is at least as important to anchor them above zero against deflation as to keep them low in the future.  Certainly, the Fed's aggressive attempts to forestall severe recession that would not be impeded at all by such an announcement. We should not, however, expect too much impact from announcing an inflation target now.  In fact,…  Read more
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