Media Releases
Published Date: 11 November 2022

Eminent macroeconomist Ricardo Caballero appointed MAS Term Professor at NUS


Singapore, 11 November 2022…The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed Professor Ricardo Caballero as the MAS Term Professor in Economics and Finance from 14 to 25 November 2022. Professor Caballero will be hosted by the NUS Faculty of Arts and Social Sciences’ Department of Economics, and the Economic Policy Group of MAS during the term of the Professorship.

2   Professor Caballero is the Ford International Professor of Economics, a director of the World Economic Laboratory at the Massachusetts Institute of Technology (MIT), and a research associate of the National Bureau of Economic Research, United States. He was the Chairman of MIT’s Economics Department from 2008 to 2011. In addition, he has been a visiting scholar and consultant at various central banks and government institutions including the European Central Bank, the Federal Reserve Board, the International Monetary Fund as well as the World Bank. 

3   Professor Caballero is a renowned authority in macroeconomics, international economics and finance, and has an extensive list of publications in all major academic journals in economics. Among his major awards are the Frisch Medal of the Econometric Society in 2002 and the Smith Breeden First Prize in 2008 for the best paper in the Journal of Finance. Professor Caballero is also a Fellow of the Econometric Society and a member of the American Academy of Arts and Sciences.

4   Professor Lionel Wee, Dean of NUS Faculty of Arts and Social Sciences, said, “We are deeply honoured to host Professor Ricardo Caballero as the MAS Term Professor and look forward to his collaboration with our Department of Economics. His extensive knowledge and research, particularly in the areas of monetary and fiscal policies, adds breadth and depth to the global learning experience we offer, greatly benefitting our faculty and students.”

5   Mr Edward Robinson, Deputy Managing Director (Economic Policy) and Chief Economist at MAS, said, “Professor Caballero is a highly regarded international macroeconomist who has made significant contributions to policy issues of relevance to open economies. He is known for his research on global financial imbalances, capital flows, and the causal mechanisms behind financial crises. He also has a keen understanding of financial markets, having worked with the asset management industry. It is a great privilege to welcome him as the MAS Term Professor and we look forward to learning from such a distinguished scholar.” 

6   Professor Caballero will deliver a public lecture on ‘Inflation and Markets Post-Covid: An Upside Down World’ at NUS on 16 November 2022. He will discuss the implications of higher inflation for financial markets. In addition, Professor Caballero will give a research seminar, engage in dialogue sessions with NUS faculty members to discuss his latest research findings, and advise PhD students on their research. 

7   At MAS, Professor Caballero will also give a seminar, and engage senior policymakers and economists on international finance 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 21 distinguished scholars over the last 13 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 16 colleges, faculties and schools across three campuses in Singapore, with more than 40,000 students from 100 countries enriching our vibrant and diverse campus community. We have also established our NUS Overseas Colleges programme in more than 15 cities around the world.

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, research centres of excellence, corporate labs and more than 30 university-level research institutes focus on themes that include energy; environmental and urban sustainability; treatment and prevention of diseases; active ageing; advanced materials; risk management and resilience of financial systems; Asian studies; and Smart Nation capabilities such as artificial intelligence, data science, operations research and cybersecurity.

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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 financial market infrastructures. 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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