Hélène Rey
@helene_rey
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Lord Bagri Professor of Economics @LBS Vice-President @Cepr_org Member @americanacad @GroupofThirty Correspondante @ASMP_Officiel . Views are my own.
Joined April 2014
Last Emmanuel Farhi’s AER paper. “This ability to combine careful logic with sensitivity to the context . is probably nowhere harder than in macroeconomics. There are few in any generation who can do it with Emmanuel’s panache, and our field is much less interesting without him”
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Research matters. Well done Valerie Ramey.
A Republican witness testified today that federal aid to states wouldn’t produce much economic growth. This is what happened next.
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Tomorrow starts in Paris the conference in the honour of Emmanuel Farhi.. @cepr_org @cdf_InnovLab .Important to reread the beautiful article written by Jean Tirole on Emmanuel’s work in the Annual Review of Economics.
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NABE President Julia Coronado presents @LBS Professor @helene_rey with the #NABE2023 Adam Smith Award
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It is a wonderful honour to receive the Bernhard Harms Prize. I am absolutely delighted and very much look forward to the conference. Thank you.
We're delighted to announce that @helene_rey @LBS will be the recipient of this year's Bernhard Harms Prize. The ceremony will take place in Berlin in October and we're very much looking forward to it!.🗨️“Hélène Rey is an internationally outstanding scholar who has broadened the
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Words fail. Emmanuel. So brilliant, so cultured, such a nice friend. So much to contribute. Immense sadness.
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@ImranRasul3 @econromesh @DianeCoyle1859 @SoumayaKeynes People will not trust economists as long as they believe economists’ main job is to forecast. It is not. Nurses and doctors do not forecast. They try to prevent problems and heal. So do economists.
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So true. "The point of saving for a rainy day is to spend when it rains, and preparing for pandemics, wars, climate crises, and other out-of-the-box events is precisely why open-ended deficit spending during booms is dangerous." Kenneth Rogoff @ProSyn
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On top of the extraordinary honour, it was an amazing conference , exploring geoeconomics in depth. So many great papers, discussions and ideas for future research! Superb policy panels and keynotes as well. Thanks again @kielinstitute @pogourinchas @MSchularick @cepr_org.
🎉 Devoted, supportive, empowering, generous, caring, down to earth, full of energy, patient, risk-taking, inspiring . impossible to capture the whole list of attributes @pogourinchas found for his good friend @helene_rey (with some help from colleagues, friends, co-authors,
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On a un sérieux problème.
🇫🇷 70 personnes vaccinées en 3 jours.🇩🇪 Près de 19.000 sur la même période.🇮🇱 Plus de 100.000 par jour.🇬🇧 Déjà environ 1 million.🇺🇲 Déjà environ 2 millions
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Remember that discussion on optimum currency areas? “Over the last few decades, Americans have become less mobile, and most adults – especially those with less education or lower incomes — do not venture far from their hometowns”.
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Announcing the CEPR Women in Economics Initiative | VOX, CEPR Policy Portal
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A general equilibrium model of the risk taking channel of monetary policy. Funding costs, leverage and value at risk are key. Good booms and bad booms. Systemic risk increases and yet risk prermia are low… @LBS @HyunSongShin.
Heterogeneity in financial sector generates a risk-taking channel of monetary policy due to competition for funds and assets & trade-off between mon policy and fin stability. From Coimbra @banquedefrance and @helene_rey @LBS @cepr_org @nberpubs:.
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The Frontiers of Knowledge Award goes to Bernanke, Gertler, Kiyotaki and Moore for establishing the nature of the linkage between the financial sector and the real economy and how it operates to amplify crises - Premios Fronteras
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Honours in the fields of humanities and social sciences as @AmbDuchene awards the insignia of Chevalier in the Ordre national du Mérite to Prof. Hélène Rey and Prof. Katie Scott, in the presence of Prof. Mark Hallett.
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Congratulations to @_SiLviA_mA and @ricco_giovanni for their great paper (and work)! The annual American Economic Journal (AEJ) Best Paper Awards: "The Transmission of Monetary Policy Shocks," Silvia Miranda-Agrippino, and Giovanni Ricco 13(3), (pp.74-107) 2021 @lbs @cepr_org.
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I am extremely grateful and it was a privilege to share the day with co-laureates Ricardo Caballero, @umalmend @m_maggiori @DSraer @ben_moll .
Congratulations to the 6 laureates (2022 and 2024 vintages) of the @banquedefrance - @TSEinfo prizes in finance and monetary economics! @helene_rey @m_maggiori @DSraer @umalmend @ben_moll R. Caballero
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Absolutely amazing choice. Could not be better! Congratulations @pogourinchas .
IMF names Berkeley’s Pierre-Olivier Gourinchas as new economic counsellor and research director, succeeding Gita Gopinath who is coming first deputy managing editor.
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Putin’s propaganda machine hammers EU while Brussels sleeps. In the fast-evolving disinformation war against Russia, Europe remains outmatched, outgunned and under-resourced to combat the Kremlin's sophisticated playbook.
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Conference in the honour of Emmanuel Farhi. In Paris, June 13 and 14. @cepr_org.
[CONFERENCE].💥« Conference in Memory of the Work of Emmanuel FARHI ».⌛June 13 2022 until June 14 2022, from 8:30 pm to 7pm .📍Collège de France @cdf1530 , 11 Place Marcelin Berthelot 75005 Paris.✔️ Open to everyone without registration access
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Such a nice trip down memory lane to be back in Princeton to give the Graham Lecture today. I spent great years here! @pogourinchas .Fun facts: the first lecturer was Milton Friedman (1950). The first woman, the amazing front runner Anne Krueger (1974).
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Just received the Annual Review of Economics 2020. Full of fantastic papers. So many important topics to think about in our field. The authors give a cutting-edge view. @AnnualReviews
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They Studied Dishonesty. Was Their Work a Lie? | The New Yorker
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Apply to our Women in Economics Conference (Sept ‘23 in Sweden!!). Deadline: May 1st. . #WE_ARE_IN @afogli001 @VeronicaGuerri7 @helene_rey @caterinamendic2 joint @cepr_org @BIS_org @ecb @riksbanken.
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Hommage à Henrik Enderlein - Le Grand Continent. Très bel hommage. Plein de vérité.
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Harvard's Financial Crisis Experts: This Time Really is Different - Bloomberg
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Philippe Martin. A great researcher who always helped junior scholars.
#CallforPapers for junior scholars.The first edition of the Philippe Martin Award will reward young researchers in international trade, economic geography, or international macro/finance. Deadline: 30 June . For more info & submission details:
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The winner of the 2024 #ECBForum Young Economist Prize is Tsvetelina Nenova @TsvetiNenova! . Her research focuses on the role of safe assets in monetary policy transmission. Congratulations to all the finalists on their achievements!. Read the papers
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@lbs economics has 3 great PhD students on the market his year. Short thread to introduce them. #EconTwitter
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Very important to listen to that excellent speech of Lord Kerr on asylum seekers having no other choice but to cross the Channel on small boats. Facts and decency.
Great speech by John Kerr in House of Lords. The UK is not a popular destination for refugees. We’re way down the list. The dangerous sea route is the only refugee route now our govt have shut safe routes. The facts do not support govt case for cruelty.
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Could all the people who propagate false narratives about ECB’s monetary policy in Germany take note? Brilliant speech by @Isabel_Schnabel
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Congratulations Lucrezia! What an amazing colleague!.
Congratulations to LBS’ @LucreziaReichli who was recently awarded The Serena Medal by @BritishAcademy_. The award was given to Professor Reichlin for her outstanding work and contribution to #economics and #econometrics. Learn more about the award here:
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Bravo @landais_camille !.
« - Ça fait 4 ans que j’essaie de féminiser cette émission mais les femmes c’est tjs ‘je ne parlerai que dans le domaine où je suis compétente’ .- Mais si elles préfèrent ne pas raconter n’importe quoi, c’est peut-être une bonne chose non. ? » @landais_camille, juste et drôle 🙏🏼
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@cepr_org Grazie Banca d’Italia for the very nice and productive conference @bancaditalia @fdhassan @IvanWerning
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The 2020 Birgit Grodal Award Winner.The EEA is delighted to announce that Eliana La Ferrara, Bocconi University, Milan, has won the 2020 Birgit Grodal Award. Congratulations! @cepr_org.
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Congratulations! Two brilliant economists!.
Ricardo Reis @R2Rsquared & Silvana Tenreyro awarded the 2021 Yrjö Jahnsson Award in Economics. More info at Congratulations to both.
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This promises to be an amazing course with fascinating material and top notch lecturers and speakers. Put together in particular by my wonderful colleague and great scholar @EliasPapaioann2.
We are pleased to introduce - African History through the Lens of Economics. A open-access, interdisciplinary 10-week lecture series open to all students interested in #EconomicDevelopment in #Africa. Learn more: .#WheelerCourse #AfricaCourse
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Reserve Bank of India lecture. Financial integration and Macroprudential policies.
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TRIBUNE. Jean Tirole, prix Nobel d'économie : "Le programme économique de Marine Le Pen est dangereux pour la France" -
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Congratulations to the ERC, a wonderful European success for having supported such important research. #vaccine @CBeaune @ERC_Research.
Congratulations to ERC grantee Uğur Şahin, CEO of @BioNTech_Group, on this important advance in the development of #COVID19 #vaccine. Fingers crossed! 🇪🇺#ResearchImpactEU
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US world banker, international monetary system and global financial cycle n a changing geopolitical environment. @kielinstitute @MSchularick.
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Congratulations @PikaGoldin ! Fascinating and important work.
BREAKING NEWS.The Royal Swedish Academy of Sciences has decided to award the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Claudia Goldin “for having advanced our understanding of women’s labour market outcomes.”. #NobelPrize
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Well done @GitaGopinath !.
“Going forward, the world has to be one that is less unequal, where there is universal access to education, healthcare and social safety nets,” says @GitaGopinath, the first female chief economist at the International Monetary Fund. #VogueWOTY2020.
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She broke all the ceilings.
When @JoeBiden joked that @JanetYellen should have her own @HamiltonMusical . it got us thinking, what would that sound like?. As it happens, we know an artist on The Hamilton Mixtape. We'll let @dessadarling take it from here.
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‘What started as a student exchange programme in 1987, has grown into something bigger and enriched the lives of more than 9 million direct participants. Each year, more than 300,000 students now study or train under the Erasmus+ umbrella.’.
🎂🎉 Erasmus is 32 years old today!.Do you know where the idea came from? Or how many babies from Erasmus couples we think there are? ⤵️.
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Very good discussions of a difficult macroeconomic situation @GitaGopinath @ecb Forum Sintra.
Lots of good meetings at @ecb Forum in Sintra. @Lagarde @Isabel_Schnabel @helene_rey, Silvana Tenreyro
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Investments in public goods – efficient public transport, quality public schools, R&D, museums and parks, renewable-energy infrastructure, are ultimately vital to the quality of life for ordinary citizens, and to restore optimism in the future. @ProSyn
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I am very honoured and excited to join this remarkable group. Many thanks. @KGeorgieva.
My thanks to the outstanding external group members for a great discussion— and warm welcome to Professor @helene_rey who recently joined our group. (2/2)
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“Our rivals are stealing a march on us because they can act as one country with one strategy and align all the necessary tools and policies behind it. We need a re-defining of our Union no less ambitious than what the Founding Fathers did 70 years ago”.
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Except for a small net purchase in February, China has now sold Treasuries every month since September 2018.
China’s US Treasury holdings sink to lowest level in two years
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Le Haut Conseil de stabilité financière doit rester indépendant ! : via @LesEchos @jmvittori @ThomasPHI2 @pogourinchas @ojblanchard1 @pisaniferry @Lagarde @ollirehn.
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“one cannot help wondering whether the German judges have pondered the proportionality of their own action.” Germany’s Constitutional Court Goes Rogue by Katharina Pistor
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“The average yield on new German bonds issued until end of November was -0.56 percent, resulting in revenues of 7.07 billion euros, according to the finance ministry document.”.
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Exactement. Grave erreur. Le gros danger pour la France (et l’Europe ) c’est le RN. Moment décisif.
Grave erreur. Le danger pour la république c’est le RN.
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Fewer women reported being satisfied with the climate in the economics profession in 2023 compared to five years ago, according to a new survey via @economics.
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Wonderful. Great economist for a great organisation (@cepr_org ) at a time where rigorous academic research is very much needed for economic policy in Europe and beyond.
I am delighted and honored to help @CEPR_org in a newly created position as vice-president Europe. This is exciting at a time when CEPR works to start new operations in Paris and more generally on the continent.
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My column on AI and economic research: folklore, myths, movies, minutes of the Fed, cyber risk….@jmvittori @LBS @cepr_org @LesEchos
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Congratulations to the winners!.
@UniCredit_IT Foundation has announced winners of 10th edition of its Econ JM Best Paper Award. Huge congrats to Eduard Boehm, Arnoud Dyevre @_LukasFreund_ @GuangbinHong @vatsalecon @lukasfmann @ReichardtHugo @TayaSikorskaya @JinglunYao & Chuan Yu
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Congratulations @drkaenzig ! Lucky @NUEconomics !.
Finally, the job market season is also over for me🥳. I am so thrilled to share that I will join the Economics Department at Northwestern @NUEconomics as a college fellow this fall and as an assistant professor in 2023!
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There is no Brexit dividend. There is a Brexit tax.
Extra spending can't be funded by Brexit dividend. 1) Govt has accepted Brexit will *weaken* public finances by £15bn pa. 2) Financial settlement with EU plus commitments to replace EU funding already uses up all of our EU contributions in 2022. There is no Brexit dividend.
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‘Brexiters are the vanguard of the populist nationalists who hate the EU, because it promotes a rules-based liberal order rather than a tribally based struggle for power.’ via @johnvanreenen.
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Many thanks Beatriz for the amazing hospitality. Lots of high level and relevant papers and very constructive feedback by discussants and in the room. Amazing work by young scholars. Also looking forward to the next one!.
Truly honored to have hosted the 4th WE_ARE_IN Macroeconomics & Finance Conference at @BancoDeEspana. Many thanks to all the participants—I learned so much!👩💼 Special thanks to @helene_rey, @FiorellaDeFior1, and @caterinamendic2. Looking forward to the next edition!👩💻
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Another completely unbiased view. Wonderful choice. Great for the Fund and all of us. Et félicitations (even internalising the negative shock on our joint papers. ).
A completely unbiased view (given that POG is French, an MIT PhD, and a friend): Great choice.
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Delighted to take part in this with all these great economists ! Thanks @anusha_chari ! @cepr_org @LBS.
@AEACSWEP and @WomenInMacro will co-host a webinar on Choosing Macroeconomics in Graduate School: A Conversation with Women in Macro. This event is scheduled for April 21, 2023 starting at 10 am EST. Register now:
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Great paper on unconventional fiscal policies.
A thread:.[1/6] Many euro area countries implemented 'unconventional fiscal policies' in 2022. Designed to offset the energy crisis, but also to reduce inflation.
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Defining moment for EU: shd trigger escape clause to cope with “an unusual event outside the control of the Member State concerned and with a major impact on the financial position of general government,. ” (Council Regulation No 1177/2011, Art. 2).
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Intergenerational income mobility in France: A comparative and geographic analysis | CEPR
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Finally! Excellent news. Offshore owners of British property to be forced to reveal names
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This is a wonderful description of Peter Neary. A great man with such intelligence, kindness and humour. Overwhelming sadness.
Rest in Peace, Peter Neary. I am devastated. Peter is why I’m still in academia. He appointed me to my first job @MertonCollege & mentored me officially & unofficially since. He is an outstandingly brilliant economist but wore this with such charm & humour. 1/n.
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Yes, it can be a game changer.
.@IFRSFoundation Trustees including LBS’s @LucreziaReichli announce the formation of International Sustainability Standards Board (ISSB): #sustainability #business #ESG #accounting #LBSSustainability #ClimateAction
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To learn more about great work in economics. Women in Economics. Where the action is. @cepr_org
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Congratulations Gita! Great appointment!.
IMF Managing Director Christine @Lagarde appoints Harvard’s Gita Gopinath as IMF Chief Economist, replacing Maury Obstfeld who will retire from IMF in December.
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Many more people marched in Paris for women rights today than there were ‘gilets jaunes’.
La marche #NousToutes à Paris a rassemblé bien plus de monde que la manif des gilets jaunes
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Wonderful thread. Rigorous economic analysis and hard work versus lobbies.
Given some of the reactions to this thread, let me remind you of some of the doomsday predictions around the time we wrote our original paper. Our key message below is not: "everything is great in Germany". Instead it is: "those doomsday predictions were far off the mark.".
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COVID-19 and global financial markets | VOX, CEPR Policy Portal
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The irony. .
British voters opinion of the EU has "reached an historic high". Unthinking brutal nationalism only convinces a small minority now.
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There is no central EU database of information on money laundering. Time to act! via @financialtimes.
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Jacques Delors (1925-2023) et l'Europe : pensée, méthode, style | Le Grand Continent
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Check out the programme! Great papers and panel. And an opening speech by @Lagarde.
ECB/CEPR WE_ARE_IN Macroeconomics and Finance Conference - Online - November 4 - 5, 2021 -
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Point is we have to invest right now in climate change. And to decrease uncertainty and have right incentives we need a carbon price with a predictable path (create a central bank) @JacquesDELPLA @CGollier.
@ecb @BertrandBadre @Paris_Dauphine @SAISHopkins « Fiscal policy is the right tool. When interest rates are negative, if you have to invest, this is the right time. I think we should be investing a lot right now. » for @helene_rey, Professor of Economics at @lbs Member of the French National Economic Commission #WorldPolicyConf.
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“Selon Putnam, l'individualisme culturel précède, dans les données, l'inégalité économique. “.
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Tristesse. .
MPs have voted against New Clause 10 being read a second time, by 344 votes to 254. This new clause would have required the Government to seek to negotiate continuing full membership of the EU’s Erasmus+ education and youth programme.
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New @ESRBofficial report : low interest rate environment continues to pose risks for financial stability.
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Trump as a hate enabler is leading hypothesis for this awful fact.
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Excellent thread Gauti which brings back so many memories from our Princeton days. Also early discussions of global imbalances with Rogoff and Gourinchas, links between monetary and financial stability with Bernanke, optimal investments under rational inattention with Sims….
Scott Sumner coins a fun term the “Princeton School of Macro” for the work in monetary economics at Princeton from the mid 1990’s to mid 2005 in this podcast 1/n.
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Important. Il faut le faire vite. Aussi Prendre de multiples mesures pour entreprises et ménages. Transferts directs pour les plus affectés.
📉 La garantie publique des crédits de trésorerie est un puissant levier pour éviter la propagation des difficultés sectorielles liées au #coronavirus à l'ensemble des entreprises. Ma proposition: un fonds de garantie exceptionnel ciblé sur les PME 👇 .
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Certains pays doivent plus de 15 % de leur PIB à la Chine. L'attitude de la Chine, qui n'appartient pas au Club de Paris, vis-à-vis de la restructuration des dettes des pays pauvres et émergents est d'importance systémique. @LesEchos
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Intergenerational mobility in Italy. mobility in Italy is higher than in the US but lower than in the Nordic countries. High in Northern Italy, low in south.
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