Euro at Twenty
Philip R. Lane, Governor of the Central Bank of Ireland
Hao Zhou, Associate Dean and Unigroup Chair Professor of Finance, Tsinghua University PBC School of Finance
Governor Lane aims to examine the implications of monetary union for macro-financial stabilization policies at national and area-wide levels. The boom-bust-crisis-recovery cycle that the euro area has experienced revealed the costs of national and international institutional frameworks that proved inadequate to manage the policy challenges of this period. After the crisis, much has been done to remedy these policy shortfalls, even if the reform agenda is not complete. National and area-wide policymakers should make use of the improved institutional architecture to do better job in terms of ex-ante risk management and ex-post crisis management.
Philip R. Lane is the 11th Governor of the Central Bank of Ireland, taking office on 26 November 2015. Prior to his appointment, he was on the academic staff at Trinity College Dublin and he remains affiliated with the university as Whately Professor of Political Economy (on leave).? Philip has chaired the Advisory Scientific Committee of the European Systemic Risk Board and was Director of the International Macroeconomics and Finance Programme at the Centre for Economic Policy Research (CEPR). He has also acted as an academic consultant for the European Central Bank, European Commission, International Monetary Fund, World Bank, OECD, Asian Development Bank and a number of national central banks. In September 2016 he was appointed as chair of the ESRB High-Level Task Force on Safe Assets. In March 2017 he was appointed as Chair of the Advisory Technical Committee (ATC) for a three-year term.
A graduate of Trinity College Dublin, he received a PhD in Economics from Harvard University in 1995 and was Assistant Professor of Economics and International Affairs at Columbia University (1995-1997) before returning to Dublin. His research interests include financial globalisation, macroeconomics of exchange rates and capital flows, macroeconomic policy design and European monetary integration. Governor Philip Lane has recently been appointed to the Executive Board of the European Central Bank and will take up duty in Frankfurt in June.