S.K. and Angela Chan Professor of Global Management | Faculty Director, Clausen Center for International Business and Policy
Economic Analysis & Policy
Expert on the global macroeconomic environment
Pierre-Olivier Gourinchas grew up in Montpellier, France. He attended Ecole Polytechnique and received his PhD in Economics in 1996 from MIT. He taught at Stanford Graduate School of Business and Princeton University before joining UC Berkeley department of economics.
Gourinchas’ main research interests are in international macroeconomics and finance. His recent research focuses on the scarcity of global safe assets, global imbalances and currency wars (with Ricardo Caballero and Emmanuel Farhi); on the International Monetary System and the role of the U.S. dollar (with Hélène Rey); on the Dominant Currency Paradigm (with Gita Gopinath); on the determinants of capital flows to and from developing countries (with Olivier Jeanne); on international portfolios (with Nicolas Coeurdacier); and on the global financial crisis (with Maury Obstfeld).
Gourinchas is the laureate of the 2007 Bernàcer Prize for best European economist working in macroeconomics and finance under the age of 40, and of the 2008 Prix du Meilleur Jeune Economiste for best French economist under the age of 40. In 2012-2013, Gourinchas was a member of the French Council of Economic Advisors to the Prime Minister. From 2009 to 2016 he was the editor-in-chief of the IMF Economic Review and from 2017 to 2019 the managing editor of the Journal of International Economics. He is currently co-editor of the American Economic Review and director of the NBER’s International Finance and Macroeconomics Program.
Expertise and Research Interests
- Global Macroeconomic Issues
- International Monetary System
- External Imbalances
- Pierre-Olivier Gourinchas, Ricardo Caballero and Emmanuel Farhi. The Safe Assets Shortage Conundrum. Journal of Economic Perspectives.
- Pierre-Olivier Gourinchas and Nicolas Coeurdacier.. When Bonds Matter: Home Bias in Goods and Assets. Journal of Monetary Economics.
- Pierre-Olivier Gourinchas and Olivier Jeanne. Capital Flows to Developing Countries: The Allocation Puzzle. Review of Economic Studies.
- Pierre-Olivier Gourinchas, Hélène Rey and Kai Truempler. The Financial Crisis and The Geography of Wealth Transfers. Journal of International Economics.
- Pierre-Olivier Gourinchas and Maury Obstfeld. Stories of the Twentieth Century for the Twenty-First. American Economic Journal: Macroeconomics.
- Gita Gopinath, Pierre-Oliver Gourinchas, Chang-Tai Hsieh, and Nicholas Li. International Prices, Cost and Markup Differences. American Economic Association.
- Ricardo J. Caballero, Emmanuel Farhi, and Pierre-Olivier Gourinchas. An Equilibrium Model of `Global Imbalances’ and Low Interest Rates. American Economic Review.
- Pierre-Olivier Gourinchas and Hélène Rey. International Financial Adjustment. Journal of Political Economy.
- Pierre-Olivier Gourinchas and Olivier Jeanne. The Elusive Gains from International Financial Integration. Review of Economic Studies.
- Pierre-Olivier Gourinchas and Jonathan A. Parker. Consumption over the LifeCycle. Econometrica.
At Haas since 2013
2013 – present, Professor of Economics, Haas School of Business
2010 – present, Professor of Economics, UC Berkeley Economics Department
2008 – 2010, Associate Professor of Economics, UC Berkeley Economics Department
2003 – 2008, Assistant Professor of Economics, UC Berkeley Economics Department
1998 – 2003, Assistant Professor of Economics, Princeton University
1996 – 1998, Assistant Professor of Economics, Stanford Graduate School of Business
- Jan. 2019 – Present – Program director, NBER International Finance and Macroeconomics
- 2017 – present, Program co-director NBER International Finance and Macroeconomics
- 2017 – present, Managing Editor, Journal of International Economics
- 2009-2016, Editor-in-chief, IMF Economic Review
- 2012 – 2013, Member of the Council of Economic Advisors to the French Prime Minister
- 2013 – 2018, CEPII Scientific Committee
- 2011 – present, Bellagio Group
Awarded to the best European economist working in macroeconomics and finance under the age of 40
Prix du meilleur jeune economist, for the best French economist
- IMF names UC-Berkeley’s Gourinchas as next chief economist, Reuters, 01/10/2022
- The COVID-19 Default Time Bomb, Project Syndicate, 04/09/2020
- Flatten the Curve of Infection and the Curve of Recession at the Same Time, Foreign Affairs, 03/26/2020
- The U.S. Economy Is Great and the Fed Doesn’t Care, Bloomberg, 07/23/2019
- The weaker British pound is here to stay, Business Insider, 04/18/2017
- Brexit: Whither the Pound?, FRBSF Economic Letter, 04/17/2017
- Free Exchange: More spend, less thrift, The Economist, 09/03/2016
- Economic Analysis for Business Decision-making, EWMBA 201A