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The International Monetary Fund has appointed Gita Gopinath of Harvard University as Chief Economist.
Ms. Gopinath, one of the world's leading specialists in exchange rates, sovereign debt and capital flows, will be the first woman to lead the IMF's Economic Research Department. She will succeed Maurice Obstfeld, who announced his retirement.
"Gita is one of the most outstanding economists in the world, with flawless academic credentials, recognized intellectual leadership, and extensive international experience," said IMF Managing Director Christine Lagarde. "All this makes it exceptionally well positioned to lead our research department at this important stage."
Mrs. Gopinath, 46 years old, has become one of the leading thinkers of the global financial system. She presented her research at the Fed's symposium in Jackson Hole, Wyo County. She has also co-directed the American Economic Review, one of the most prestigious journals in the field of economics. The IMF has written 40 research papers on exchange rates, trade and investment, international financial crises, monetary policy, debt and emerging market crises.
In a recent study, Ms. Gopinath focused on the persistent dominance of the US dollar in the global financial system. In a study earlier this year, she pointed out that 40% of world trade is denominated in dollars, about four times more than the US share of world trade. His research has helped explain how the rising dollar is creating such vulnerability in countries such as Argentina, which has experienced a dramatic currency crisis this year and called for an IMF bailout.
Ms. Gopinath's work has often had a strong practical impact on how countries can respond to debt crises and examine the complex functioning mechanisms of international economic forces. The French government followed a 2011 paper on how EU countries could achieve results similar to a currency devaluation – without, however, controlling their own currency – as it sought to cope with the financial crisis of the 1990s. this decade.
Ms. Gopinath was born in India. She received her BA from Delhi University and Ph.D. Ben Bernanke, from Princeton University, where her dissertation advisers included prominent figures from the economy before becoming chairman of the Federal Reserve and Kenneth Rogoff , chief economist of the IMF from 2001 to 2003.
In an interview with the Minneapolis Fed in 2016, Mr. Bernanke described Ms. Gopinath as "one of the strongest and most promising students I have worked with".
She has been a Harvard professor since 2005. She is an American citizen and Indian citizen abroad, the IMF said.
Write to Josh Zumbrun at [email protected]
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