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The IMF has appointed Gita Gopinath as its new chief economist, which will push him to revisit his economic thinking on exchange rates and the international economy.
Professor Gopinath will replace Maurice Obstfeld, who is retiring. She is currently a professor at Harvard University, where she is also editor-in-chief of the highly regarded American Economic Review and editor-in-chief of the Handbook of International Economics with Kenneth Rogoff, former chief economist of the IMF.
With this appointment, the IMF joins the OECD and the World Bank to give a woman the first economic role in the institution, demonstrating that women can reach the top in economics even if they are a minority in the profession .
Ms. Gopinath is an American and Indian citizen. She grew up in India, earned her Ph.D. from Princeton University and worked at the University of Chicago before moving to Harvard.
She is best known for her work on exchange rates, recently writing that the gains in terms of flexible exchange rates "are less important than you think", a point of view that challenges the IMF, which traditionally supports this policy .
In a response to the financial crisis of 10 years ago, Ms. Gopinath said other lessons were that low interest rates were hurting productivity and leading to misallocation. resources and that the dollar dominated the volume of trade,
It will be more in line with existing ideas in its conclusions that trade is not the main driver of economic inequality; Emerging markets are well advised to move away from dollar-denominated debt and global coordination of financial regulation is essential.
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