Media Releases
Published Date: 05 March 2019

Distinguished macroeconomist Martin Eichenbaum appointed MAS Term Professor at NUS





Singapore, 5 March 2019…The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed Professor Martin Eichenbaum, a renowned macroeconomist, as the MAS Term Professor in Economics and Finance from 11 to 15 March 2019. Professor Eichenbaum will be hosted by the Department of Economics in the NUS Faculty of Arts and Social Sciences and the Economic Policy Group at the MAS during the term of the Professorship.

2    Professor Eichenbaum is the Charles Moskos Professor of Economics at Northwestern University and his research has focused on macroeconomics, international economics, and monetary theory and policy. He has researched extensively on the effects of monetary policy on postwar US business cycles and the carry trade in emerging markets. He also co-directs the Centre for International Macroeconomics at the university. Prior to his appointments at Northwestern University, Professor Eichenbaum held faculty positions at Carnegie Mellon University and the University of Chicago.

3    Professor Eichenbaum has served in various capacities at central banks and international organisations. He previously consulted at the Federal Reserve Banks of Atlanta and Chicago and the International Monetary Fund, and is currently a consultant at the Federal Reserve Bank of San Francisco, a board member of the Aaron Institute for Economic Policy, Israel, as well as an advisory council member of the Global Markets Institute at Goldman Sachs.

4    He is a fellow of the American Academy of Arts and Sciences, a fellow of the Econometric Society and a research associate of the National Bureau of Economic Research, United States.

5    Professor Robbie Goh, Dean, NUS Faculty of Arts and Social Sciences, said, “We are very pleased to welcome Professor Martin Eichenbaum to NUS and the Faculty of Arts and Social Sciences. A prolific macroeconomist, Professor Eichenbaum has written extensively on a wide range of topics, including business cycles and their impact on macroeconomic variables such as unemployment and inflation. We will learn a lot from his invaluable insights during our interactions and dialogues with him.”

6    Mr Edward Robinson, Assistant Managing Director (Economic Policy) and Chief Economist at MAS, said, “Professor Martin Eichenbaum’s seminal work with Professor Lawrence Christiano, also a previous MAS Term Professor, laid the foundations of the profession’s current approach to quantitative business cycle and monetary policy analysis. He remains at the forefront of ground-breaking new work in these areas. Notably, his recent research on incorporating unemployment into the analysis of business cycles using a search-theoretic approach has successfully reconciled these two important strands in the macroeconomic literature. In the last decade, he has also expanded his research fields to include the carry trade and capital flows in emerging markets. We are honoured that he is visiting MAS to share his insights and look forward to learning from such a distinguished scholar.”

7    On 13 March 2019, Professor Eichenbaum will deliver a public lecture at NUS on ‘The Global Economy Outlook: Responding to Secular Stagnation and Tail Risks’ where he will discuss the scope for monetary and fiscal policy to deal with the dual challenges of slower global growth and larger tail risks. He will also conduct a research seminar titled ‘State Dependent Effects of Monetary Policy: the Refinancing Channel’ at NUS on 15 March 2019. In addition, Professor Eichenbaum will hold dialogue sessions with NUS faculty members to discuss his latest research findings, and advise faculty members and PhD students on their research.

8    At MAS, Professor Eichenbaum will give a talk, and engage senior policymakers and economists on macroeconomic and monetary policy issues.

About the MAS Term Professorship in Economics and Finance

First established in 2009, the MAS Term Professorship in Economics and Finance is awarded to distinguished scholars, who are appointed as Visiting Professors at both the Department of Economics at the NUS Faculty of Arts and Social Sciences and the NUS Business School. It aims to strengthen Singapore’s financial and economics research infrastructure and contribute to a vibrant research community and culture at local universities.

The MAS Term Professorship in Economics and Finance has been awarded to 19 distinguished scholars over the last 10 years.

About National University of Singapore (NUS)

The National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education, research and entrepreneurship, with a focus on Asian perspectives and expertise. We have 17 faculties across three campuses in Singapore, as well as 12 NUS Overseas Colleges across the world. Close to 40,000 students from 100 countries enrich our vibrant and diverse campus community.
Our multidisciplinary and real-world approach to education, research and entrepreneurship enables us to work closely with industry, governments and academia to address crucial and complex issues relevant to Asia and the world. Researchers in our faculties, 29 university-level research institutes, research centres of excellence and corporate labs focus on themes that include energy, environmental and urban sustainability; treatment and prevention of diseases common among Asians; active ageing; advanced materials; as well as risk management and resilience of financial systems. Our latest research focus is on the use of data science, operations research and cybersecurity to support Singapore's Smart Nation initiative.

For more information on NUS, please visit .

About Monetary Authority of Singapore

As Singapore’s central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore's exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore — banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. Being an integrated supervisor allows the MAS to adopt a consistent and progressive regulatory and supervisory approach and framework, thereby ensuring a level playing field across all market segments, sectors and activities. With its mandate to foster a sound and progressive financial services sector in Singapore, MAS also helps shape Singapore’s financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards. In addition, it spearheads retail investor education. MAS ensures that Singapore’s financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.

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