2023 ECB Forum – Speakers

In her role as Governor, Ms Bache is also Chair of the Bank’s Executive Board and Monetary Policy and Financial Stability Committee. Her work experience at the Bank includes posts as Deputy Governor, Executive Director of Monetary Policy and Executive Director of Financial Stability. She has also worked as a macroeconomist at Handelsbanken Capital Markets.

Ms Bache was a member of the Systemic Risk Council in Denmark from 2017 to 2022. She has a PhD in economics from the University of Oslo and an MSc in economics from the London School of Economics.

Mr Bailey attended Queens’ College, Cambridge from 1978 to 1984, where he completed a bachelor’s degree with first class honours in history and a PhD in economic history.

Prior to becoming Governor of the Bank of England, Mr Bailey served as Chief Executive Officer of the Financial Conduct Authority from July 2016. In that position, he was also a member of the Prudential Regulation Committee, the Financial Policy Committee and the Board of the Financial Conduct Authority.

Mr Bailey previously held the role of Deputy Governor, Prudential Regulation and Chief Executive Officer of the Prudential Regulation Authority from April 2013. While retaining his position as Executive Director of the Bank of the England, he joined the Financial Services Authority in April 2011 as Deputy Head of the Prudential Business Unit and Director of UK Banks and Building Societies. In July 2012 he became Managing Director of the Prudential Business Unit, with responsibility for the prudential supervision of banks, investment banks and insurance companies. Mr Bailey was appointed as a voting member of the interim Financial Policy Committee at its June 2012 meeting.

Before that, Mr Bailey worked at the Bank of England in a number of areas, including as Executive Director for Banking Services and Chief Cashier, as well as Head of the Bank’s Special Resolution Unit. His other roles included Governor’s Private Secretary and Head of the International Economic Analysis Division in Monetary Analysis.

Ms Baumeister has a PhD in economics from Ghent University in Belgium. Prior to joining the University of Notre Dame, she was a principal researcher in the International Economic Analysis Department at the Bank of Canada. She is a research associate at the National Bureau of Economic Research, a research fellow at the Centre for Economic Policy Research and Associate Editor of Journal of Monetary Economics, Review of Economics and Statistics, International Journal of Forecasting, and Macroeconomic Dynamics, among other publications.

In addition, Ms Baumeister holds the position of Research Professor at the Deutsche Bundesbank and the University of Pretoria. She has been a visiting scholar at the International Monetary Fund, the World Bank and various central banks, including the Federal Reserve Banks of Chicago, Cleveland, Dallas, Kansas City, and St. Louis, the Reserve Bank of New Zealand, the Banque de France, the Nationale Bank van België/Banque Nationale de Belgique and Suomen Pankki – Finlands Bank.

Her research interests are empirical macroeconomics, energy markets and monetary economics. She has worked extensively on forecasting the real price of oil, disentangling the determinants of oil price fluctuations and quantifying the effects of oil price shocks on the macroeconomy. Much of her recent work is concerned with Bayesian inference in structural vector autoregressive models and the measurement of economic conditions at high frequency. Her research has been published in scholarly journals, including Econometrica, American Economic Review, American Economic Journal: Macroeconomics, Journal of Monetary Economics and Review of Economics and Statistics. In 2020 she received the inaugural Journal of Monetary Economics Best Paper Award.

Mr Blas studied at the University of Navarra in Spain and the University of Sheffield in the United Kingdom. Prior to assuming his current role, he was Chief Energy Correspondent at Bloomberg News, and before that he wrote for the Financial Times in London as its Africa Editor and its Commodities Editor. He also previously wrote for the Spanish business daily Expansión. 

Mr Blas looks at the intersection of markets, business and geopolitics of natural resources, with a focus on commodity traders. He is a co-author of the best-selling book “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources”.

Mr Corsetti is currently leading the Centre for Economic Policy Research (CEPR) Research and Policy Network on European Economic Policy. He is a fellow of the British Academy.

He previously held positions as professor of macroeconomics at the University of Cambridge, Sapienza University of Rome and University of Bologna. He has also been a long-serving consultant to the European Central Bank (where he was 2019 Wim Duisenberg fellow), the Bank of England and the Banca d’Italia.

His pioneering research into open macroeconomics, fiscal and monetary policy, as well as currency and financial crises, is published by leading international journals, including American Economic Review, The Quarterly Journal of Economics, The Review of Economic Studies and Journal of the European Economic Association.

From 2005 to 2016 he was co-editor of Journal of International Economics. As part of his work on fiscal sustainability and monetary policy issues, he delivered the Schumpeter Lecture at the 2015 annual congress of the European Economic Association and the 2019 Federico Caffè Lecture at the Sapienza University of Rome (Cambridge University Press, forthcoming). He is also co-author of several policy reports, including the CESifo annual “EEAG Report on the European Economy” (2002-10), the CEPR’s “Monitoring the Eurozone” reports in 2015 and 2016, the 23rd Geneva Report on the World Economy, which discussed the monetary and fiscal policy mix, and the 2023 Barcelona Report on the “International Economic Financial Order after the Pandemic and the War”.

He was awarded a PhD from Yale University in 1992.

He was Spanish Minister of Economy, Industry and Competitiveness (2016-18) and Minister of Economy and Competitiveness (2011-16). He served as Secretary of State for Economic Affairs and a member of the Economic and Financial Committee of the EU (2002-04). Prior to that, he was Secretary General for Economic and Competition Policy (2000-02) and Director General (1996-2000).

Mr de Guindos was Director of IE Business School in Madrid and the PricewaterhouseCoopers/IE Center for the Finance Sector (2010-11). He was previously Head of Financial Services at PwC (2008-09). He was Chief Executive Officer Iberia at Lehman Brothers and Chief Executive Officer at Nomura Securities (2006-08).

He received a BSc in economics with honours from CUNEF Universidad in Spain in 1982 and qualified as State Economist and Trade Expert in 1984.

She is known for her extensive knowledge of financial markets and the global economy, as well as regular news-making interviews with some of the most prominent names in the financial world, including Phil Knight, Leon Black, Janet Yellen and Christine Lagarde.

Ms Eisen has also anchored CNBC’s “Closing Bell”, “Power Lunch” and “Worldwide Exchange”. She joined CNBC in December 2013 as a correspondent, focusing on the global consumer.

Prior to joining CNBC, Ms Eisen was a co-anchor of “Bloomberg Surveillance”, as well as a correspondent for Bloomberg Television, where she covered global macroeconomics, policy and business. During that time, she covered the European debt crisis, the Japanese tsunami of March 2011 and the Fukushima nuclear crisis. Ms Eisen also hosted the Bloomberg Radio programme “On the Economy”.

She is the editor of “Currencies After the Crash: The Uncertain Future of the Global Paper-Based Currency System”, which was published by McGraw Hill in October 2012.

Ms Eisen holds a master’s degree in broadcast journalism with a concentration in business reporting from the Medill School of Journalism at Northwestern University.

In his capacity as Executive Board member he oversees the ECB’s Directorate General Legal Services.

He also co-chairs the Task Force on Climate-related Financial Risks of the Basel Committee on Banking Supervision, and from January 2018 to January 2022 he chaired the newly founded Network of Central Banks and Supervisors for Greening the Financial System.

Mr Elderson previously served as Executive Director of De Nederlandsche Bank, where he held several senior positions before joining the Governing Board in 2011.

He took various courses at the University of Zaragoza, Spain, graduated in Dutch law at the University of Amsterdam in 1994 and obtained an LLM degree at Columbia Law School, New York, in 1995.

Mr Galí was awarded a PhD in economics by the Massachusetts Institute of Technology (MIT) in 1989. From 2001 to 2017 he was Director of the CREI. He has held academic positions at New York University and Columbia University, and has also been a visiting professor at MIT.

He is a research fellow at the Centre for Economic Policy Research (CEPR), a research associate at the National Bureau of Economic Research and a fellow of the Econometric Society. He has served as co-editor of Journal of the European Economic Association and co-director of the CEPR’s International Macroeconomics Programme. In 2012 he served as President of the European Economic Association.

Mr Galí has received a number of awards, including a National Research Prize from the Government of Catalonia and a Yrjö Jahnsson Award. He has been a consultant to the ECB, the Federal Reserve System, the Banco de España, Sveriges Riksbank, Norges Bank and the Banque de France.

His research interests include macroeconomics and monetary theory, and he has published articles on these topics in numerous scientific journals. He is the author of the widely used graduate textbook “Monetary Policy, Inflation, and the Business Cycle: An Introduction to the New Keynesian Framework and Its Applications”.

Mr Gil Tertre’s previous assignments include negotiating the recovery and resilience plans for the Czech Republic, Hungary, Poland and Slovakia. In this role, he was also responsible for fiscal, investment and taxation issues regarding the recovery plans of all EU Member States. Before that, he oversaw coordination of Member States’ economic and investment policies in the Commission’s Secretariat-General.

As a member of the Cabinet of Jyrki Katainen, European Commission Vice-President from 2014 to 2017, Mr Gil Tertre’s main contribution was the design and coordination of the Investment Plan for Europe, also known as the Juncker Plan. He was part of the private office of the Director-General for Economic and Financial Affairs from 2011 to 2014 (during the European debt crisis).

Prior to that, he worked in telecommunications for ten years on competition and regulatory issues, both at the European Union and at the national level.

An economist by training, Mr Gil Tertre has an MBA from IE Business School and economics degrees from both Université Paris IX-Dauphine and Universidad Autónoma de Madrid, graduating from the latter as top of his class. He has also completed executive education courses at Harvard Business School and the London School of Economics. He is a regular events speaker and has published several academic articles and book contributions on economics.

In that role, she oversees the work of staff, represents the IMF in multilateral forums, maintains high-level contacts with member governments, board members, the media and other institutions, leads the IMF’s work on surveillance and related policies, and oversees research and flagship publications.

Ms Gopinath previously served as Chief Economist of the IMF from 2019 to 2022. In that capacity, she was the IMF’s Economic Counsellor and Director of its Research Department. She oversaw 13 releases of the World Economic Outlook, including forecasts of the impact that the coronavirus (COVID-19) pandemic would have on the global economy. She co-authored the “Pandemic Paper” on how to end the COVID-19 pandemic, which set globally endorsed targets for vaccinating the world and led to (i) the creation of a multilateral task force made up of the leaders of the IMF, the World Bank, the World Trade Organization and the World Health Organization to help end the pandemic; and (ii) the establishment of a working group involving vaccine manufacturers to identify trade barriers and supply bottlenecks, and to accelerate the delivery of vaccines to low-income and lower-middle-income countries. She also worked with other IMF departments to connect with policymakers, academics and other stakeholders on a new analytical approach to help countries respond to international capital flows via an integrated policy framework. In addition, she helped to set up a climate change team within the IMF to analyse, among other things, optimal climate mitigation policies.

Ms Gopinath was the John Zwaanstra Professor of International Studies and of Economics at Harvard University’s economics department from 2005 to 2022, and before that she was an assistant professor of economics at the University of Chicago’s Booth School of Business (2001-05). Her research, which focuses on international finance and macroeconomics, is widely cited and has been published in many top economics journals. She has authored numerous research articles on exchange rates, trade and investment, international financial crises, monetary policy, debt and emerging market crises.

Ms Gopinath is an elected fellow of both the American Academy of Arts and Sciences and the Econometric Society, as well as being a member of the Group of Thirty. She has previously served as a co-director of the International Finance and Macroeconomics Program at the National Bureau of Economic Research, has sat on the Economic Advisory Panel at the Federal Reserve Bank of New York and has been a visiting scholar at the Federal Reserve Bank of Boston. She is a co-editor of the current Handbook of International Economics and was previously a co-editor of The American Economic Review and the managing editor of The Review of Economic Studies.

Ms Gopinath was born in India and is a US national and an overseas citizen of India. She has received numerous awards and commendations. In 2021 the Financial Times included her in a list of the “25 Most Influential Women of the Year”, the International Economic Association bestowed the title of Schumpeter-Haberler Distinguished Fellow upon her, the Agricultural & Applied Economics Association presented her with a John Kenneth Galbraith Award, and the Carnegie Corporation of New York included her in its list of “Great Immigrants ”. She was also included in Bloomberg’s list of the “50 People Who Defined 2019”, labelled a “Top Global Thinker” by Foreign Policy magazine and included in Time magazine’s list of “Women Who Broke Major Barriers to Become Firsts”.

Ms Gopinath is a recipient of the Pravasi Bharatiya Samman, the highest honour conferred on overseas Indians by the Government of India, and has a Distinguished Alumnus Award from the University of Washington. In 2014 the IMF named her as one of the “Top 25 Economists Under 45”, in 2012 the Financial Times included her in its list of “25 Indians to Watch”, and in 2011 she was labelled a “Young Global Leader” by the World Economic Forum.

Ms Gopinath received a PhD in economics from Princeton University in 2001, after being awarded a bachelor’s degree by Lady Shri Ram College and receiving master’s degrees from the Delhi School of Economics and the University of Washington.

He is currently on leave from the University of California, Berkeley, where he is the S.K. and Angela Chan Professor of Global Management, working in the economics department and the Haas School of Business. Mr Gourinchas was Editor-in-Chief of IMF Economic Review from its creation in 2009 to 2016, Managing Editor of Journal of International Economics from 2017 to 2019 and a co-editor of The American Economic Review from 2019 to 2022. He is on leave from the National Bureau of Economic Research, where he was director of the International Finance and Macroeconomics Program, and he is also a research fellow at the Centre for Economic Policy Research in London and a fellow of the Econometric Society.

Mr Gourinchas’ main research interests are in the fields of international macroeconomics and finance. His most recent research has focused on: (i) the scarcity of global safe assets, global imbalances and currency wars; (ii) the international monetary system and the role of the US dollar; (iii) the dominant currency paradigm; (iv) the determinants of capital flows to and from developing countries; (v) international portfolios; and (vi) the global financial crisis and the impact of the coronavirus (COVID-19) crisis on business failures. In 2007 Mr Gourinchas won the Germán Bernácer Prize for the best European economist under the age of 40 working in macroeconomics and finance, and in 2008 he won the Prix du Meilleur Jeune Economiste for the best French economist under the age of 40. In 2012 and 2013 Mr Gourinchas was a member of the French Council of Economic Analysis, which reports to the Prime Minister.

He attended the Ecole Polytechnique in Paris and received his PhD in economics from the Massachusetts Institute of Technology in 1996. Before joining UC Berkeley’s economics department in 2003, Mr Gourinchas taught at the Stanford Graduate School of Business and Princeton University. He grew up in Montpellier.

Mr Gros holds a PhD in economics from the University of Chicago. He has previously worked for the International Monetary Fund, and he also served as an economic adviser to the Delors Committee, which developed plans for the euro. He has been a member of high-level bodies advising the French and Belgian governments and has advised numerous central banks and governments (including those of Greece, the United Kingdom and the United States) at the highest political level. Mr Gros is also currently an adviser to the European Parliament.

He was Director of the Centre for European Policy Studies (CEPS) from 2000 to 2020, and he was then a distinguished fellow of CEPS and a member of its board from 2020 to 2022. In 2020 he held a Fulbright fellowship and was a visiting professor at the University of California, Berkeley. Between March and June 2022 he was a visiting research fellow at the European University Institute’s Robert Schuman Centre in Florence.

He has an extensive publication record on international economic affairs, including monetary and fiscal policy, exchange rates, banking and climate change. He is the author of several books and Editor of Economie Internationale and International Finance. He has taught at several leading European universities and writes a globally syndicated column on European economic issues for Project Syndicate.

She has worked at the Financial Times since 2011, covering economics and finance from London and Frankfurt, and holds a degree in philosophy and economics from the London School of Economics.

Her areas of interest include monetary policy, trade, financial markets and political economy.

Mr Kammer was previously Chief of Staff in the Office of the Managing Director, advising the Managing Director on strategic and operational issues and overseeing operations for the senior management team; Deputy Director of the Strategy, Policy and Review Department, overseeing work on the IMF’s strategy and surveillance policy; Deputy Director of the Middle East and Central Asia Department, overseeing work on regional economic developments and financial sector issues; Director of the Office of Technical Assistance Management, advising management on technical assistance operations and overseeing fundraising and global partnerships for capacity building; and Advisor to the Deputy Managing Director.

Mr Kammer has also served as the IMF’s resident representative in Russia. Since joining the IMF, Mr Kammer has worked with countries in Africa, Asia, Europe and the Middle East, and has worked on a wide range of policy and strategic issues.

At the time of her appointment, she was Secretary to the Bank’s Governing Council and Advisor to the Governor on subjects related to the Canadian economy and monetary policy. She also led the review of the monetary policy framework for the 2016 renewal of the Bank’s inflation-targeting agreement with the Government of Canada.

Between 2010 and 2013 Ms Kozicki was Managing Director of the Bank’s Canadian Economic Analysis Department, where she was responsible for briefing the Governing Council about developments in the Canadian economy with a view to informing its monetary policy decisions. She oversaw long-term research on the operation of the economy, inflation, macro-financial linkages, and the transmission channels of domestic and international monetary policy. Ms Kozicki also served as Deputy Managing Director of the Bank’s International Economic Analysis Department between 2008 and 2010.

Before joining the Bank in 2006, Ms Kozicki was an economist with the Board of Governors of the Federal Reserve System in Washington, D.C., and Vice President and Economist at the Federal Reserve Bank of Kansas City. She has a BSc and an MA – both in economics – from the University of Toronto, and a PhD from the University of California San Diego.

Between 2011 and 2019 she served as Managing Director of the International Monetary Fund. Prior to that she served as French Minister of Economy and Finance from 2007 to 2011, having been Trade Secretary from 2005 to 2007. A lawyer by background, she practised for 20 years with international law firm Baker McKenzie, of which she became Global Chair in 1999. She was the first woman to hold each of these positions.

In 2022 President Lagarde was ranked the second most influential woman in the world by Forbes. She has also been recognised by TIME as one of the 100 most influential people in the world. She was named Officer in the French Order of the Legion of Honor in April 2012 and Commander in the National Order of Merit in May 2021.

Before joining the ECB, he was Governor of the Central Bank of Ireland. He has also chaired the Advisory Scientific Committee and Advisory Technical Committee of the European Systemic Risk Board and was Whately Professor of Political Economy at Trinity College Dublin. He is also a research fellow at the Centre for Economic Policy Research.

A graduate of Trinity College Dublin, he was awarded a PhD in economics from Harvard University in 1995 and was Assistant Professor of Economics and International Affairs at Columbia University from 1995 to 1997, before returning to Dublin. In 2001 he was the inaugural recipient of the Germán Bernácer Prize for outstanding contributions to European monetary economics.

He is currently Editor-in-Chief of The Economic Journal, the journal of the Royal Economic Society. He received his PhD from Tinbergen Institute in Rotterdam in 1997, and he worked in the Research Department of the Banca d’Italia until 2006.

Mr Lippi has received numerous prizes, including two awards from the Fondation Banque de France, and has received two advanced grants from the European Research Council. He is a research fellow at the Centre for Economic Policy Research and a senior fellow at the Einaudi Institute for Economics and Finance.

His research interests lie in the fields of macroeconomics and monetary economics. He has published many papers on the propagation of monetary shocks, technological innovation and means-of-payment choices, and monetary and wage-setting institutions.

As Chief Economist and Head of the Economics Department, Ms Lombardelli ensures that the department is at the forefront of economic thinking, coordinates the work of the country and policy studies branches to create new opportunities, and enhances synergies and cooperation across the whole of the OECD, including through contributions to horizontal projects.

Prior to joining the OECD, Ms Lombardelli was Chief Economic Advisor to the UK Treasury, where her task was to deliver the UK government’s macroeconomic objectives, promoting sustainable economic growth, as well as setting and implementing fiscal policy. In addition to managing the Treasury’s economics and fiscal teams, she was joint head of the Government Economic Service – the professional body for economists in the UK public sector. She started her career at the Bank of England, working on monetary policy and financial markets, and has also worked in 10 Downing Street as the Prime Minister’s Private Secretary for Economic Affairs. Ms Lombardelli has also worked as a technical adviser at the International Monetary Fund.

A British national, Ms Lombardelli holds a master’s degree in economics from the London School of Economics and a bachelor’s degree in philosophy, politics and economics from Oxford University. She is a visiting professor at King’s College London and a visiting fellow at Nuffield College, Oxford.

Prior to joining the ECB, Mr Panetta was Senior Deputy Governor of the Banca d’Italia and President of the Italian Institute for the Supervision of Insurance.

He has served on the Board of Directors and Committee on the Global Financial System at the Bank for International Settlements. From 2014 to 2019 he was a member of the Supervisory Board of the ECB.

Mr Panetta graduated with honours in economics from Luiss University, Rome. He holds an MSc in economics from the London School of Economics and a PhD in economics and finance from London Business School.

He has authored books and papers published in international journals such as American Economic Review, Journal of Finance, Journal of Money, Credit and Banking, European Economic Review and Journal of Banking and Finance.

Mr Pill is a member of the Bank’s Monetary Policy Committee and is responsible for the analysis used in its monetary policy decision-making. He also leads the research that supports all the Bank’s other functions.

Previously, Mr Pill was Chief European Economist at Goldman Sachs (2011-18). Before that, he worked at the European Central Bank as Deputy Director Research (2009-11), Head of the Monetary Policy Stance Division (2004-09) and in the Strategic Policy Issues Unit (1998-2001). Mr Pill has also been a faculty member at Harvard Business School (1995-98, 2001-04, 2019-21). He started his career as an economist at the Bank of England (1990-92).

Mr Pill has a BA (Hons) from the University of Oxford and an MA and PhD from Stanford University. He is a co-author of Institutions, Macroeconomics and the Global Economy (2003) and has published on monetary and financial issues in American Economic Review, The Economic Journal, Economic Policy and International Finance, as well as in other leading academic and practitioner outlets.

Mr Powell also serves as Chair of the Federal Open Market Committee, the Federal Reserve’s principal monetary policymaking body. He has served as a member of the Board of Governors since taking office in May 2012 to fill an unexpired term. He was reappointed to the Board in June 2014 for a term ending in January 2028.

Prior to his appointment to the Board, Mr Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 to 2005 he was a partner at The Carlyle Group.

Mr Powell served as Assistant Secretary and Under Secretary of the US Treasury under President George H.W. Bush, with responsibility for policy on financial institutions, the Treasury debt market and related areas. Before joining the Administration, he worked as a lawyer and investment banker in New York City.

In addition to his positions on corporate boards, Mr Powell has served on the boards of various charitable and educational institutions, including the Bendheim Center for Finance at Princeton University and The Nature Conservancy of Washington, D.C. and Maryland.

Mr Powell was born in February 1953 in Washington, D.C. He received an AB in politics from Princeton University in 1975 and earned a law degree from Georgetown University in 1979. While at Georgetown, he was Editor-in-Chief of the Georgetown Law Journal.

He is married with three children.

She is on leave from the University of Bonn, where she was Professor of Financial Economics. Before joining the ECB she was a member of the German Council of Economic Experts and in 2019 was Co-Chair of the Franco-German Council of Economic Experts. Msl Schnabel studied economics at the universities of Mannheim, Paris 1 Panthéon-Sorbonne and UC Berkeley, and received her PhD in economics from the University of Mannheim.

She holds a bachelor’s degree from Bocconi University in Milan and a master’s degree and a PhD from the University of Pennsylvania.

Before joining the Dallas Fed in 2023, she was Deputy Associate Director in the Federal Reserve Board of Governors’ Financial Stability Division, where she contributed to the identification of risks to financial stability, collaborating with other board divisions, reserve banks and government agencies. Ms Scotti joined the Board of Governors in 2005 as an economist in the International Finance Division, before moving to the Financial Stability Division. During the coronavirus (COVID-19) pandemic, she served as a special adviser to former Vice Chair Richard Clarida.

Ms Scotti’s fields of expertise include monetary policy and central bank communication, as well as empirical macroeconomics and finance. She has authored and co-authored more than a dozen major papers in key economic journals on topics such as monetary policy, its communication and its impact on financial markets, the Federal Reserve’s policy responses to the COVID-19 crisis and macroeconomic uncertainty.

Ms Tenreyro is Professor of Economics at the London School of Economics. She obtained her MA and PhD in economics from Harvard University. Before joining the Bank of England, she was Co-Director and Board member of The Review of Economic Studies and Chair of the Women’s Committee of the Royal Economic Society. She is a fellow of both the British Academy and the Econometric Society, and has held the position of President of the European Economic Association.

For her work on monetary policy and macroeconomics, Ms Tenreyro has received the Yrjö Jahnsson Award, the Birgit Grodal Award, the Banque de France and Toulouse School of Economics Junior Prize in Monetary Economics and Finance, and the Carl Menger Prize in monetary macroeconomics. She holds an honorary doctorate from the University of St. Gallen.

In the past, Ms Tenreyro has worked at the Federal Reserve Bank of Boston and served as an external Monetary Policy Committee member for the Bank of Mauritius. She has also been Director of the Macroeconomics programme at the International Growth Centre, Chair of the Women in Economics Committee of the European Economic Association (EEA), a Member at Large of the EEA Executive Committee, a member of the Economic Policy panel, and Associate Editor of JEEA, Journal of Monetary Economics, Economica, and The Economic Journal. She is currently Associate Editor of The Quarterly Journal of Economics. She is also a lead academic at the Centre for Macroeconomics and a research associate at the Centre for Economic Performance and the Centre for Economic Policy Research.

Ms Tenreyro’s main research interests are macroeconomics – particularly monetary policy – international economics and macro development.

Mr Ueda holds a bachelor’s degree in mathematics from the University of Tokyo (1974) and a PhD in economics from the Massachusetts Institute of Technology (1980). He started his career as an assistant professor in the economics department of the University of British Columbia in 1980. In 1982 he became an associate professor at Osaka University, and in 1993 he became a professor at the University of Tokyo, specialising in macroeconomics and financial theory. From 1998 to 2005 he was a member of the Bank of Japan’s Policy Board, the central bank’s highest decision-making body, where he led discussions on the introduction of forward guidance under the bank’s zero interest rate policy. After stepping down from the Policy Board in 2005, he became a professor at the Graduate School of Economics at the University of Tokyo (serving as dean from 2005 to 2007). In 2017 he became a professor at Kyoritsu Women’s University.

In addition to his academic roles, Mr Ueda also served as an external member of the Board of Directors of the Development Bank of Japan from 2008 to 2023. He also chaired the Investment Committee of Japan’s Government Pension Investment Fund from 2010 to 2014, and from 2011 to 2012 he was Chair of the Japanese Economic Association.

She holds a bachelor’s degree from Aarhus University, a master’s degree from Warwick University and a PhD from the Massachusetts Institute of Technology. Previously she worked as a professor at the University of California, Berkeley, Northwestern University and the University of Chicago. She has also served as an academic adviser to Sveriges Riksbank and has sat on the Academic Advisory Panel at the Federal Reserve Bank of San Francisco. She has been Associate Editor of The Journal of Finance and has served as an elected director of the American Finance Association and the European Finance Association.

Ms Vissing-Jørgensen is a member of the American Academy of Arts and Sciences and a fellow of the Econometric Society. Her academic awards include a Brattle Group Prize for papers published in The Journal of Finance, two Outstanding Paper Awards from the Swiss Finance Institute, a Skandia Award and a Holst-Knudsen Award.

Ms Vissing-Jørgensen’s research and policy work focuses on monetary policy and asset pricing. Her research has been published in leading journals such as Journal of Political Economy, The American Economic Review, The Quarterly Journal of Economics, The Journal of Finance, The Review of Financial Studies and Journal of Financial Economics.