Pierre-Olivier Gourinchas

Pierre-Olivier Gourinchas grew up in France where he attended Ecole Polytechnique. He received his PhD in 1996 from MIT and taught at Stanford Graduate School of Business and Princeton University before joining UC Berkeley department of economics.

Professor Gourinchas' main research interests are in international macroeconomics and finance. His recent research focuses on the importance of the valuation channel for the dynamics of external adjustment and the determination of exchange rates (with Hélène Rey); on the determinants of capital flows to and from developing countries (with Olivier Jeanne); on international portfolios (with Nicolas Coeurdacier); on global imbalances (with Ricardo Caballero and Emmanuel Farhi) and on international price discrimination (with Gita Gopinath, Chang-Tai Hsieh and Nick Li).

What's New?

Editor of the IMF Economic Review, the IMF's new flagship research publication.

Winner of the 2007 Bernàcer Prize for best European economist working in macroeconomics and finance under the age of 40.
Winner of the 2008 Prix du Meilleur Jeune Economiste for best French economist under the age of 40.

Capital Flows to Developing Countries: The Allocation Puzzle, June 2009, with Olivier Jeanne
Estimating the Border Effect: Some New Evidence, with Gita Gopinath, Chang-Tai Hsieh and Nick Li; April 2009.
Financial Crash, Commodity Prices and Global Imbalances, with Ricardo Caballero and Emmanuel Farhi; Brookings Papers on Economic Activity 2008, 2, pp1-55
When Bonds Matter: Home Bias in Goods and Assets, June 2008, with Nicolas Coeurdacier
An Equilibrium Model of 'Global Imbalances' and Low Interest Rates, American Economic Review, March 2008, with Ricardo Caballero and Emmanuel Farhi.