Hélène Rey

Professor of Economics
London Business School

Hélène Rey joined London Business School in 2007 from Princeton University where she was Professor in the Economics Department and the Woodrow Wilson School. She received an Alfred P. Sloan Research Fellowship in 2005. She was awarded the 2006 Bernácer Prize (best European economist working in macroeconomics and finance under the age of 40) for “her important research on the determinants and consequences of external trade and financial imbalances, the theory of financial crisis and the internationalization of currencies”. The prize was given by Jean-Claude Trichet. She is an elected member of the Council of the Royal Economic Society and of the European Economic Association. She is on the Board of the Review of Economics Studies, a CEPR Research Fellow and an NBER Research Associate and a member of the Bellagio Group on the International Economy. She sits on the Scientific committee of the Fondation Banque de France and of the AXA Research Fund. She is also a regular columnist for the newspaper Les Echos. 

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Originally appeared on VoxEU

The global financial cycle has transformed the well-known trilemma into a ‘dilemma’. Independent monetary policies are possible if and only if the capital account is managed directly or indirectly. This column argues the right policies to deal with the ‘dilemma’ should aim at curbing excessive leverage and credit growth. A combination of macroprudential policies guided by aggressive stress‐testing and tougher leverage ratios are needed. Some capital controls may also be useful.

Presentation given at the Conference @ King's, April 8th-11th, 2010.

My Video Content

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LBS Professor Helene Rey says that the remedy to the financial crisis is not necessarily a clean economic slate, but rather a further analysis and reconsideration of current economic models. Interviewed by Peter Leyden at King's College, April 2010.

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The Inaugural Conference @ King's, Institute for New Economic Thinking, Session 4: Toward a New Global Financial Architecture