Hong K. Bahng is director of Monetary Policy Strategy Division within the Monetary Policy Department, Bank of Korea. Before assuming this position he held major positions in the Research Department(2013~16, 2018~19), and the International Affairs Department(2019~21) where he served as the International Advisor to the Governor. Dr. Bahng holds a Ph.D in Economics from the University of Rochester.

Saroj Bhattarai is an Associate Professor of Economics at University of Texas at Austin, where he has taught since 2014. He previously taught at Pennsylvania State University. His research and teaching interests are on monetary and fiscal policy and international macroeconomics. He received his PhD from Princeton University in 2010 and his BA from Williams College in 2005. He is currently an Associate Editor of Journal of Money, Credit, and Banking and previously was an Associate Editor of Review of Economics and Statistics. He has been a visitor scholar at several central banks.

Petya Koeva Brooks is Deputy Director in the Research Department of the International Monetary Fund (IMF). In this capacity, she leads the work on multilateral surveillance, including the IMF’s flagship World Economic Outlook. Previously, she was Deputy Director in the IMF’s Strategy, Policy, and Review (SPR) Department, overseeing the design and implementation of policies related to Fund lending, capital flows, and IMF collaboration with regional financing arrangements. Earlier, she was the chief of the Emerging Markets Division in SPR. During 2012–15, Ms. Koeva Brooks was in the European Department as the mission chief for Italy and was in charge of the unit responsible for Euro Area surveillance. During 2009–12, she was the head of the World Economic Outlook division in the Research Department. Prior to this, she was the mission chief for Iceland in 2008 and a desk economist for India, Nepal, United Kingdom, Ireland, Cyprus, Thailand, Turkey, and the Euro Area. During 2005–6, she was a currency strategist for Barclays Capital in London. Ms. Koeva Brooks obtained her Ph.D. from MIT in 2000 and B.A. from Smith College in 1996.

Markus K. Brunnermeier is the Edwards S. Sanford Professor in the economics department at Princeton University and director of Princeton's Bendheim Center for Finance. His research focuses on international financial markets, monetary theory, and macroeconomics with special emphasis on bubbles, liquidity, financial crises and digital money. He established the webinar series(Link is external) as a platform for leading thinkers. Brunnermeier was awarded his PhD by the London School of Economics (LSE) and a Doctor honoris causa from the University of Regensburg. His award winning books include

Michał Brzoza-Brzezina is Economic Advisor at Narodowy Bank Polski (National Bank of Poland) and Professor at SGH Warsaw School of Economics. His research interests include monetary economics and business cycle theory. He has previously worked at the European Central Bank. He published articles i.a. in the Journal of the European Economic Association, Journal of Money, Credit and Banking, Journal of International Money and Finance, Journal of Monetary Economics, Journal of Macroeconomics and Journal of Economic Dynamics and Control.

Associate Professor of Economics at Pontifícia Universidade Católica do Rio de Janeiro (PUC-Rio). Served as Deputy Governor at the Central Bank of Brazil between July-2016 and September-2019. Worked as chief-economist at Opportunity Asset Management, director and partnet at Radix Asset Management, chief-economist and co-manager of fixed-income and multi-strategy funds at BBA-Capital/BBA-Capital Icatu, and partner of Kyros Investimentos. He also worked as economist and subsequently senior economist at the Federal Reserve Bank of New York, between August-2007 and May-2011. Holds a BA (1993) and an MA (1997) in Economics from PUC-Rio, and an MA (2005) and a Ph.D. (2008) in Economics from Princeton University.

Ambrogio Cesa-Bianchi is Senior Research & Policy Advisor in the International Directorate at the Bank of England. His research interests include international macro-finance and monetary policy. Ambrogio received his PhD in Economics from Cattolica University (Milano); he holds an MSc in Economics from Pompeu Fabra University, and a 5-year degree in Engineering from Politecnico di Milano.

LUIS FELIPE CÉSPEDES is a member of the Board of the Central Bank of Chile since February 2022. He has a PhD in Economics from New York University and holds a degree in Business Administration and Economics from the Pontificia Universidad Católica de Chile. Between March 2014 and August 2017, he was Minister of Economy, Development, and Tourism of Chile. Between 2012 and 2014 he was a Senior Advisor to the Technical Investment Council, a body in charge of making reports, proposals, and statements regarding the investments of Chile's pension funds. In 2010, Luis Felipe was a member of the Trend GDP Committee of the Chilean Ministry of Finance, a committee of independent experts that provides inputs for the estimation of trend Gross Domestic Product (GDP), a key parameter for estimating the structural income of the Chilean Central Government. From 2009 to 2011, he was Manager of Economic Research at the Central Bank of Chile. Between 2006 and 2009 he served as Economic Policy Coordinator and Chief of Advisors of the Ministry of Finance of Chile. Previously, he was Senior Economist of the Economic Research Management of the Central Bank of Chile and Economist of the Research Department of the IMF. Between 1995 and 1997 he was an advisor to the Ministry of Finance. He regularly publishes on macroeconomics, monetary and exchange policy, fiscal policy, real exchange rate, balance of payments and financial restrictions, among others, in top international specialized academic journals. He has contributed chapters to several books on macroeconomics and international finance.

Yongsung Chang is a member of the Monetary Policy Board of the Bank of Korea and Professor at Seoul National University. He has held positions at the University of Pennsylvania, University of Rochester, and Yonsei University, as well as serving as a senior economist at the Federal Reserve Bank of Richmond. He has authored over 20 research articles published in top-tier academic journals, including the American Economic Review, Review of Economic Studies, Journal of Monetary Economics, and International Economic Review. In 2023, he was elected as a fellow of the Econometric Society. He currently serves as an advisory board member for the Carnegie-Rochester-NYU Conference Series on Public Policy and as co-editor of the Journal of Macroeconomics. He was also a long-term consultant for the Federal Reserve Bank of Richmond and has served as Director of the Korea Bureau of Economic Research and Innovation (KBER) and the SNU Institute for Research in Finance and Economics (SIRFE).

Kyeongtak Do is an Economist in Monetary Policy Analysis Team at the Bank of Korea. Dr. Do’s research interest lies in monetary economics, with a particular focus on monetary policy, monetary policy in small open economies, macroeconomic modelling, and applied times series. His recent research investigated the neutral interest rate and neutral yield curve of Korea and their drivers through time-series and semi-structural approaches. He received his Ph.D in economics from University of Virginia in 2022.

At the Federal Reserve Board, I lead a team of economists who conduct policy analyses about the global economy, with emphasis on forecasting the macroeconomic outlook of major industrial countries. I also lead, manage, and contribute to presentations for the Board of Governors and the FOMC, as well as represent the institution in international organizations such as OECD. With over 10 years of experience in the fields of macro-finance, forecasting, and monetary policy, I have published several articles in many journals, such as the Journal of International Economics and the Journal of Economic Literature, with citations ranging from policymakers' speeches to financial market reports. I earned a PhD in Economics from Northwestern University and I have also taught Econometrics and International Macro at Johns Hopkins University and University of Maryland.

Born on 9 April 1950 in Warsaw. In 1972, he graduated from the Central School of Planning and Statistics (currently, SGH Warsaw School of Economics) and since 1974 he has worked there as a lecturer. He is Professor of Economics and head of the Political Economy and History of Economic Thought Unit at the Collegium of Management and Finance at SGH Warsaw School of Economics. In 2003-2007, he was Professor at the Edward Lipiński School of Economics and Law in Kielce. Previously, he was engaged in teaching activities, inter alia, at the Polish Academy of Sciences (1978-1983), at the Inter-University Centre of Postgraduate Studies in Dubrovnik (1986-1989), at the University of Colorado at Boulder (1993-1998), at the United States Business and Industrial Council at the University of Missouri and University of Kansas (1996) as well as the Institut Superieur de Gestion (1994–2005). Since the beginning of the 1990s, he has held numerous important posts in public administration. In 1991, he was Minister of Construction and Spatial Planning in the Government led by Jan K. Bielecki. In 1992, he was Minister of Foreign Economic Relations in the Government led by Jan Olszewski. He became a deputy to the Sejm of the Republic of Poland of the First Term (1991-1993) and senator of the Senate of the Republic of Poland of the Fourth Term (1997-2001), where he served as Deputy Chairman of the National Economy Committee. He was also a member of the EU-Poland Joint Parliamentary Committee. He was Chairman of the supervisory boards of Bank Rozwoju Eksportu S.A. (1992), Centralwings Nowy Przewoźnik (2007), KGHM Polska Miedź S.A. (2007), and President of the Board of Directors and General Director of Polkomtel S.A. (2007-2008). In 1993-2001, he was director of the Institute of Economic and Political Freedom. In 2009, he served as economic advisor to President of the Republic of Poland, Lech Kaczyński. In 2010-2016, he was a member of the Monetary Policy Council, and since 2016 he has been a member of the Management Board of Narodowy Bank Polski. On 10 June 2016, he was appointed as Governor of Narodowy Bank Polski, and he took office on 21 June 2016. On 12 May 2022, he was appointed for a second term of office, which started on 22 June 2022. He is a holder of numerous awards bestowed on him for his achievements as Governor of Narodowy Bank Polski by Polish and international media, including, “Gazeta Bankowa”, “Parkiet”, “Polska Press”, “Capital Finance International”, as well as the “Economic Award of the President of the Republic of Poland” and the “Special Award” bestowed under the “Economic Award of the Lesser Poland Voivodeship”. In 2020, Mr Glapiński ranked 6th in the ranking of the 200 most influential people in the Polish economy of RMF FM, Money.pl and 300Gospodarka. In 2021, he ranked 1st in the ranking of the 50 most influential people in the Polish economy in 2020 of “Dziennik Gazeta Prawna”.

Thomas J. Jordan is Chairman of the Governing Board of the Swiss National Bank (SNB), Switzerland’s central bank. He received his PhD in economics from the University of Bern in 1993. Following a three-year post-doctoral research position at the Department of Economics at Harvard University, he joined the SNB as an Economic Advisor in 1997. The University of Bern appointed him lecturer in 1998 and honorary professor in 2003, and he received an honorary doctorate from the University of Basel in 2017. In 2007, the Federal Council appointed Thomas J. Jordan to the position of Member of the SNB’s Governing Board. In 2010, he was appointed Vice Chairman and in 2012 Chairman of the Governing Board. Thomas J. Jordan is Governor of the International Monetary Fund (IMF) for Switzerland. He is a member of the Board of Directors of the Bank for International Settlements (BIS) in Basel, and Chairman of its Banking and Risk Management Committee. He represents Switzerland in the Plenary and the Steering Committee of the Financial Stability Board (FSB), and is Chair of the FSB’s Standing Committee on Budget and Resources (SCBR).

Peter Kažimír was born on 28 June 1968 in Košice, Slovakia. He graduated with a master’s degree from the University of Economics in Bratislava, Faculty of Commerce. From 1993 to 2006 Mr Kažimír worked in the field of commercial real estate. Between 2001 and 2006 he was a member of the Management Board of DDP Credit Suisse Life and Pensions. In 2006 Mr Kažimír was appointed Deputy Finance Minister of the Slovak Republic. From 2010 to 2012 he was a Member of Parliament and Vice-Chair of the Finance and Budget Committee. In April 2012 Mr Kažimír was appointed Deputy Prime Minister and Minister of Finance of the Slovak Republic. As Finance Minister, from 2012 to 2019, his main priorities included combatting tax fraud and evasion, structural reforms, and public spending rationalisation via projects such as the Value for Money spending review. In the second half of 2016, during the Slovak Presidency of the Council of the European Union, he officially represented the European Union and the Eurogroup at the G20 and G7 meetings as well as at the Annual Meetings of the International Monetary Fund and World Bank Group. Since 1 June 2019 Mr Kažimír has served as the Governor of Národná banka Slovenska (NBS). As NBS Governor, he is also a member of the Governing Council of the European Central Bank, a member of the General Board of the European Systemic Risk Board, Alternate Governor of the European Bank for Reconstruction and Development for the Slovak Republic and, since 4 June 2019, Governor of the International Monetary Fund for the Slovak Republic. Mr Kažimír was chosen for the 2018 European Finance Minister of the Year Award by the Banker, a British magazine. The award recognises his work and the resulting improvements in the Slovak economy. In October 2019 he received the GLOBSEC European Award for his contribution to maintaining euro area stability and unity during the most critical moments of the European debt crisis. Mr Kažimír is fluent in English and has a passive knowledge of German and Russian.

Yun Jung Kim is a professor at Sogang University in Korea. Yun Jung Kim’s research interests include a variety of topics in international economics and macroeconomics, including sovereign debt and defaults, international capital flows, debt and growth, effects of financial crises on firms, and global factors in inflation. She is also interested in topics in applied time-series econometrics. She received her Ph.D. in economics from the University of Michigan, after obtaining a Master in Public Administration from Harvard Kennedy School.

Jae Won Lee is the Chief Economist and Deputy Governor that directs the Economic Research Institute at the Bank of Korea. Prior to joining the Bank of Korea in 2023, he served on the faculty at Seoul National University, the University of Virginia, and Rutgers, the State University of New Jersey. Additionally, Lee was a member of committees for Korean government financial regulatory bodies, including the Financial Services Commission and the Financial Supervisory Service. Lee's research specializes in macroeconomics, focusing primarily on monetary and fiscal policy over business cycles. His work has appeared in the American Economic Journal: Macroeconomics, American Economic Review (P&P), Economics Letters, Journal of Economic Dynamics and Control, Journal of International Economics, Journal of Monetary Economics, Journal of Money, Credit and Banking, Quantitative Economics, Review of Economic Dynamics, and the Review of Economics and Statistics. Beyond his research, Lee contributes to the academic community as a member of the editorial boards of the Journal of Macroeconomics and the Korean Economic Review, among others. He received his Ph.D. in economics from Princeton University in 2008, after obtaining a B.A. in economics and mathematics from the University of Wisconsin-Madison.

Eric Leeper is the Paul Goodloe McIntire Professor in Economics at the University of Virginia, a position he began in 2018. He is also a Research Associate at the National Bureau of Economic Research, director of the Virginia Center for Economic Policy at the University of Virginia, and a member of the advisory council of the Center for Quantitative Economic Research at the Federal Reserve Bank of Atlanta. He is a former Rudy Professor at Indiana University, external advisor to the Swedish central bank, and member of the Research Council of the Bundesbank. His research focuses on theoretical and empirical models of macroeconomic policy, with special emphasis on monetary-fiscal policy interactions. One line of work focuses on a new mechanism—called the “fiscal theory of the price level”—by which fiscal policy can influence economic activity and inflation. Recent research examines the economic impacts of government spending, the macroeconomic consequences of alternative resolutions to long-run fiscal imbalances, and the modeling of the “fiscal limit” and sovereign risk. Leeper received a Ph.D. in economics from the University of Minnesota in 1989 and a B.S. in economics from George Mason University in 1980. Prior to joining the faculty at Virginia, Leeper spent 23 years at Indiana University and eight years in the Federal Reserve System. Leeper was born in Isfahan, Iran, and spent his school-age years in Taiwan, Malaysia, Seattle, Hong Kong, and Northern Virginia. Leeper’s current research focuses on the policies that allowed the United States to recover from the Great Depression and projects about fiscal inertia and monetary-fiscal interactions in heterogeneous-consumer environments.

Christian Matthes works at the intersection of macroeconomics and econometrics. His main research interests are the econometric analysis of dynamic equilibrium models, the development of linear and non-linear time series models for macroeconomic data, as well as the study of equilibrium models with imperfect information. A native of Germany, Christian received his undergraduate degree at Goethe University in Frankfurt before coming to the US for his doctoral studies at NYU, where he received MA and PhD degrees. Prior to coming to IU, Christian worked at Universitat Pompeu Fabra in Barcelona from 2010-2013 and at the Federal Reserve Bank of Richmond’s research department from 2013 until he joined IU in 2019.

Elmar Mertens is a senior economist at the Research Centre of the Deutsche Bundesbank in Frankfurt, Germany. Prior to joining the Bundesbank in 2018, he has worked for a year at the Bank for International Settlements (Basel, Switzerland) and eight years at the Federal Reserve Board (Washington, D.C.). At the Federal Reserve, he was involved in devising policy alternatives and their communication as well as the empirical analysis of economic conditions. He is an associate editor of the Journal of Money, Credit, and Banking. A common theme of his research is the interplay between macroeconomic dynamics and the formation of expectations. His econometric research is often concerned with time-varying dynamics, for example due to time-varying volatilities, changes in the behaviour of trends and cycles, or the effective lower bound on nominal interest rates.

Dr. Miao Yanliang joined CICC in March 2023 as Chief Strategist and Executive Head of Research Department. Before that he has served for 10 years at China State Administration of Foreign Exchange, including as its Chief Economist since May 2018. He joined in 2013 as Senior Advisor to the Administrator and then Head of Research. He helped formulate global macro views and built a top-notch research platform for the world’s largest sovereign wealth manager. As Chief Economist, he also advises the senior management of PBC/SAFE on a range of economic and policy issues. Before SAFE, he was an economist with the IMF where he worked on emerging markets and then the euro area crisis including as policy coordinator for the Portugal program. Before the IMF, he was visiting the Bank of Israel in 2007 as special assistant to the Governor and taught economics at the Woodrow Wilson School of Princeton University. Mr. Miao is an adjunct professor of Peking University’s National School of Development, a member of China Finance 40 Forum, a trustee of Shanghai University and an external member of the Academic Committee of China Development Bank. He publishes extensively on global macro and occasionally as a columnist for Project Syndicate. He holds a Ph.D., an M.A., an M.P.A., all from Princeton University, and an M.A. in economics from Fudan University.

Woong Yong Park is Associate Professor of Economics at Seoul National University (SNU). His research interests include topics in macroeconomics and international money and finance, and empirical methods for dynamic macroeconomic models. He received his Ph.D. in economics from Princeton University. Before joining SNU, he worked as an assistant professor at the University of Hong Kong and the University of Illinois, Urbana-Champaign.

Lukasz Rachel is an Assistant Professor of Economics at University College London (UCL) and a member of the Centre for Macroeconomics, the Stanford Expert Group on Sanctions on Russia, and the Prosperity for Generations expert group. He completed his PhD at the London School of Economics, where he also finished his undergraduate and master's degrees in economics. In recent years, he has been a postdoctoral fellow in the economics department at Princeton University and a Fulbright Scholar at Harvard. From 2008 to 2021, he worked at the Bank of England. His research interests are in macroeconomics. His work focuses on topics such as economic growth, the impact of technology on inequality, monetary and fiscal policy, and the politics and economics of sanctions. More information can be found on his website https://sites.google.com/site/lukaszrachel/. Twitter: @LukaszRachel LinkedIn:https://www.linkedin.com/in/lukasz-rachel-37270933/.

Dr. Eli Remolona is the seventh Governor of the BSP and Chairman of the Monetary Board. Governor Remolona has extensive policy and operational experience on monetary policy and international finance, having worked for 19 years at the Bank for International Settlements (BIS) and 14 years for the Federal Reserve Bank of New York. From 2019 to 2022, Governor Remolona served as professor of finance and director of central banking at the Asia School of Business in Kuala Lumpur. He also taught at Williams College, Columbia University, New York University, and the University of the Philippines-School of Economics. Before his appointment to the Monetary Board in 2022, Governor Remolona served as independent director of the Bank for Philippine Islands (BPI) and chairman of its risk management committee. He earned his PhD in Economics with distinction from Stanford University and obtained his bachelor’s degree in Economics with honors from the Ateneo de Manila University.

Chang Yong Rhee is the Governor of the Bank of Korea and the Chairman of its Monetary Policy Board. Prior to joining the BOK, he was Director of the Asia and Pacific Department at the IMF (2014-2022); Chief Economist of the ADB (2011-2014); Secretary General and Sherpa of the Presidential Committee for the 2010 G-20 Seoul Summit (2009-2011); Vice Chairman of the Financial Services Commission (2008-2009). Professor, Associate Professor, and Assistant Professor of Economics at Seoul National University (1994-2008); Assistant Professor at University of Rochester (1989-1994). He received a Ph.D. in Economics from Harvard University in 1989.

Phurichai Rungcharoenkitkul joined the BIS in 2014. His recent research spans monetary policy, financial stability, financial markets, and open-economy issues. His works feature in the BIS flagship publications, bimonthly policy notes and academic journals. In his previous career at the Bank of Thailand, he led a team responsible for providing policy recommendations to the Monetary Policy Committee. His other central banking experiences include forecasting and modelling, as well as reserve management. He spent 2011-12 at the IMF in the Asia & Pacific Department, working on various research projects and country missions. He holds a DPhil and MPhil in economics from the University of Oxford.

Thomas Sargent has been the William R. Berkley professor of economics and business at New York University since 2002. He was awarded the 2011 Nobel Prize in Economics, shared with Princeton University’s Christopher Sims, for his empirical research on cause and effect in the macroeconomy. He was formerly a professor of economics at the University of Minnesota, the David Rockefeller professor at the University of Chicago, and the Donald Lucas professor of economics at Stanford University. He earned his Ph.D. from Harvard University in 1968 and received his bachelor’s degree from the University of California at Berkeley in 1964. He was a university medalist as Most Distinguished Scholar in the Class of 1964 and won the Nemmers Prize in Economics in 1997. He was elected a fellow of the National Academy of Sciences and a fellow of the American Academy of Arts and Sciences, both in 1983. He is a past president of the Econometric Society, the American Economic Association, and the Society for Economic Dynamics.

Ludger Schuknecht is Vice President and Corporate Secretary. He is responsible for AIIB’s relations with its Members, the Board of Governors, the Board of Directors, other aspects of governance including the admission of new Members and the integrity of the Bank’s governance. He also oversees how the Bank communicates with key external stakeholders and has supervision over its awareness-building and brand and reputation management efforts to promote understanding of the Bank’s operations and mission among internal and external audiences. Before joining AIIB in August 2021, he held important leadership posts at the national and international levels. Most recently, he was a Visiting Professor at the Lee Kuan Yew School of Public Policy, Singapore. Prior to this role, he was Deputy Secretary-General at the Organization for Economic Co-operation and Development (OECD) and was previously Chief Economist and Director General of Germany’s Federal Finance Ministry. In this position, he served as the G20 Finance Deputy for Germany and Co-chair of the Infrastructure Investment Working Group of the G20. Schuknecht has extensive experience working with international financial institutions, including the International Monetary Fund (IMF), the European Central Bank and the World Trade Organization. He also acted as the Chief Negotiator for Germany in the founding of AIIB, making him one of the architects of AIIB and one of the drafters of its Articles of Agreement. He holds a Vordiplom in Economics from Ludwig Maximilian University of Munich, Germany; an MA in Economics from George Mason University, USA; and a Ph.D in Economics and a Habilitation in Economics from Universität Konstanz, Germany. Schuknecht is from Germany.

Kwanho Shin is a Professor of Economics at Korea University and a CESifo Research Fellow of University of Munich. He received his B.A. and M.A. in economics from Seoul National University and his Ph.D. in economics from UCLA. He served as an Assistant Professor at the University of Kansas for four years and has occasionally taught as a visiting professor at UCLA, Claremont Graduate University and Claremont McKenna College. He was elected as "One of the Fifty Future Leaders in Korea” by the Seoul Economic Daily in 2010, named as a “MaeKyung Economist” by the Maeil Business Newspaper in 2011 and awarded a “Dasan Economist Prize” by The Korean Economic Daily in 2020. He also served as a council member for the National Economic Advisory Council from 2010 to 2011 and from 2022 to 2024. His publications on business cycles, growth, monetary economics, finance, international finance, and labor economics have appeared in leading academic journals, including American Economic Review, Journal of Monetary Economics, Journal of Econometrics, Journal of Money, Credit and Banking, Journal of International Economics, Journal of International Money and Finance, Journal of Banking and Finance, and Journal of Labor Economics.

Ludwig Straub is an Associate Professor of Economics at Harvard University. His research stands at the intersection of macroeconomics, international economics, economic inequality, and finance, addressing both contemporary economic issues such as the effects of the Covid-19 pandemic and rising income and wealth inequality, as well as fundamental macroeconomic questions concerning fiscal and monetary policy transmission. One focus of Ludwig's research has been to understand how heterogeneity in household behavior affects the macroeconomy. He has made significant contributions to the development and understanding of Heterogeneous-Agent New-Keynesian (HANK) models, which integrate household heterogeneity into traditional New-Keynesian business cycle models, offering new insights into the transmission of shocks and policy implications. Among other things, his work demonstrates that HANK models suggest strong deficit-financed fiscal multipliers for output and inflation. One dimension of household heterogeneity is income inequality. Ludwig's work finds that recent trends in income inequality may be partly responsible for the secular decline in interest rates and the secular rise in wealth inequality. This has direct implications for private debt accumulation and fiscal policy. Moreover, monetary policy may become constrained in light of the zero-lower-bound constraint on interest rates. Ludwig also delves into optimal taxation, challenging classical results in the literature by showing that under many reasonable parameterizations, high capital taxes may be optimal even in the long run. This finding has profound implications for tax policy in the presence of large income and wealth inequality. More recently, Ludwig's work extends to disaggregating economic activity, analyzing how shocks propagate through the economy by considering where households live and work. This line of research is crucial for fully grasping the complex dynamics of shock transmission across different sectors and regions, thereby enabling more targeted and effective policy responses. In summary, Ludwig's research deepens our understanding of macroeconomic dynamics through the lens of household heterogeneity, offering valuable insights into the transmission mechanisms of fiscal and monetary policy as well as the implications of economic inequality.

Dr. P. Nandalal Weerasinghe is the 17th Governor of the Central Bank of Sri Lanka (CBSL). Dr. Weerasinghe is a career central banker, with extensive experience in Monetary and Exchange Rate Policy. Dr. Weerasinghe was promoted as Deputy Governor on 27 September, 2011 while he was serving as an Alternate Executive Director at the International Monetary Fund and assumed office as Deputy Governor of the CBSL on 01 September 2012. Dr. Weerasinghe holds a PhD and Master’s Degree in Economics from the Australian National University and a B.Sc. Degree from the University of Kelaniya in Sri Lanka. As Deputy Governor, Dr. Weerasinghe has served as the Chairman of the Monetary Policy Committee and the Foreign Reserve Management Committee of the CBSL and has overseen the Departments of Economic Research, Statistics, International Operations, Domestic Operations, Macroprudential Surveillance, Exchange Control, Currency and Communications. Prior to being released to the International Monetary Fund as the Alternate Executive Director for India, Sri Lanka, Bangladesh and Bhutan, from January 2010 to August 2012, Dr. Weerasinghe served as Assistant Governor from August 2009 to September 2012 as well as the Chief Economist and Director of Economic Research from January 2007 to August 2009. Dr. Weerasinghe also served as Visiting Lecturer for the Masters Degree Course in Economics at the University of Colombo, Visiting Research Economist at the SEACEN Centre, Malaysia and Visiting Research Fellow at the Australian National University. He is also an Advisory Board Member of the Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, Australian National University. He has represented several Cabinet Sub-Committees on economic matters and was a member of the Committee appointed to review the Power Purchase Agreements, the Financial Sector Monitoring Committee of the Ministry of Finance & Planning, the Steering Committee on Market Program for Private Sector Development and the Petroleum Refinery Project Coordinating Committee. He was also a Director of the Board of Management of the Sustainable Energy Authority and the Board of Investment. He was responsible for negotiating Financial Services in bilateral trade and services agreements with China and Singapore. He has published several research papers in international and local journals, including the CBSL Staff Studies. Dr. Weerasinghe retired from the Central Bank as the Senior Deputy Governor in January 2021 and worked as an Independent Consultant for economic and financial matters for multilateral agencies and global investment firms.

Kei-Mu Yi is the M.D. Anderson Professor of Economics at the University of Houston and Senior Vice President at the Federal Reserve Bank of Dallas. He is also a Research Associate with the International Trade and Investment, and International Finance and Macroeconomics, programs at the NBER. In the past, he held positions at the Federal Reserve Banks of Minneapolis, Philadelphia, and New York, and at Rice University. His research has been published in leading general interest, macroeconomics, and international economics journals. His current research is on firm and industry-level structural change in an open economy, and the interactions between global value chains, international trade, growth, and inequality. He received a Ph.D. in economics from the University of Chicago.