Co-Directors
Mark Aguiar is the Walker Professor of Economics and International Finance at Princeton University. His research spans both open- and closed-economy macroeconomics, including sovereign debt, business cycles in emerging markets, capital taxation, growth, and the micro-foundations of consumption and labor supply. He has been an NBER affiliate since 2008.
Linda Tesar is a professor of economics at the University of Michigan. Her research examines cross-country business cycle linkages, capital flows to emerging markets, the consequences of exchange rate exposure, and global risk-sharing. She has been an NBER affiliate since 1993.
Featured Program Content
Many analyses of fiscal sustainability focus on the ratio of debt to GDP and the gap between interest rates and economic growth rates. Yet some governments...
When private capital markets freeze during wars and financial crises, who keeps cross-border credit flowing? Often, it is governments themselves. In...
International debt securities (IDS)—bonds issued, listed, or governed outside the issuer’s home country—had a total value of $2 billion in 1970 but grew to $30...