H l ne rey on monetary policy and international capital flows part 1
Life and career
Born to a teacher and an engineer she grew up in Brioude in South-Central France.
She received a Master of Science degree in Engineering Economic Systems from Stanford University in 1994. She has Ph.Ds from Ecole des Hautes Etudes en Sciences Sociales and London School of Economics, both in 1998. After working as a lecturer at LSE 1997–2000 she was assistant professor and later professor (2006) at Princeton University where she also worked at Bendheim Center for Finance and Woodrow Wilson School.
Her work focuses on international trade, financial imbalances, financial crises and the international monetary system.
She was a member of the Conseil d'analyse économique which advises the French Prime Minister on economic matters 2010–2012. and is since 2012 a member of the Commission Economique de la Nation which advises the Finance Minister of France.
She is a regular contributor the French magazine Les Échos.
In 2013 she became the first woman to win the Yrjö Jahnsson Award, sharing the prize with Thomas Piketty.
Rey is married to fellow professor of economics Richard Portes and the couple have a daughter. They live in London.
Economic research
Rey is credited with ground-breaking research into the structure of international payments and capital flows. By examining the balance sheets of creditor and debtor nations, she offered new insights into relative returns on cross-border investments. She explained her approach in an interview with the Financial Times, which wrote, "She also showed why the US is the world’s banker. “We called it ‘the US’s exorbitant privilege’. The US earns more on external assets than it pays on external liabilities. It has an excess return on the order of 2 per cent ... So it issues a lot of government bonds that are happily bought by the rest of the world.”
Awards and recognition
Sloan Fellowship (2005)
Germán Bernácer Prize (2006)
Fellow of the British Academy (2011)
Birgit Grodal Award (2012)
Fellow of the European Economic Association (2013)
Fellow of the Econometric Society (2013)
Yrjö Jahnsson Award, shared with Thomas Piketty (2013)
Named one of 25 brightest young economists by the International Monetary Fund.
Book chapters
Rey, Hélène (2013). "Comment on "time to ship during financial crises"". In Giavazzi, Francesco; West, Kenneth D. NBER International Seminar on Macroeconomics 2012. Chicago, Illinois: National Bureau of Economic Research. pp. 261–263. ISBN 9780226053271.
Journal articles
Rey, Hélène; Portes, Richard (March 2005). "The determinants of cross-border equity flows". Journal of International Economics. ScienceDirect. 65 (2): 269–296. doi:10.1016/j.jinteco.2004.05.002.
Rey, Hélène; Imbs, Jean M.; Mumtaz, Haroon; Ravn, Morten O. (December 2010). "One TV, one price?". The Scandinavian Journal of Economics, special issue: Price and Wage Dynamics. Wiley. 112 (4): 753–781. doi:10.1111/j.1467-9442.2010.01631.x.
Rey, Hélène; Gourinchas, Pierre-Olivier; Truempler, Kai (November 2012). "The financial crisis and the geography of wealth transfers". Journal of International Economics. ScienceDirect. 88 (2): 266–283. doi:10.1016/j.jinteco.2012.05.008.
Rey, Hélène; Coeurdacier, Nicholas (March 2013). "Home bias in open economy financial macroeconomics". Journal of Economic Literature. American Economic Association. 51 (1): 63–1115. doi:10.1257/jel.51.1.63.
Papers
Rey, Hélène; Gourinchas, Pierre-Olivier (February 2005). International financial adjustment. National Bureau of Economic Research. NBER Working Paper No. 11155.
Rey, Hélène; Gourinchas, Pierre-Olivier (August 2005). From world banker to world venture capitalist: US external adjustment and the exorbitant privilege. National Bureau of Economic Research. NBER Working Paper No. 11563.
Rey, Hélène; Imbs, Jean M.; Mumtaz, Haroon; Ravn, Morten O. (October 2009). One TV, one price?. National Bureau of Economic Research. NBER Working Paper No. 15418.
Rey, Hélène; Gourinchas, Pierre-Olivier; Truempler, Kai (August 2011). The financial crisis and the geography of wealth transfers. National Bureau of Economic Research. NBER Working Paper No. 17353.
Rey, Hélène; Coeurdacier, Nicholas (December 2011). Home bias in open economy financial macroeconomics. National Bureau of Economic Research. NBER Working Paper No. 17691.
Rey, Hélène; Gourinchas, Pierre-Olivier (July 2013). External adjustment, global imbalances and valuation effects. National Bureau of Economic Research. NBER Working Paper No. 19240.
Rey, Hélène (May 2015). Dilemma not trilemma: the global financial cycle and monetary policy independence. National Bureau of Economic Research. NBER Working Paper No. 21162.
Rey, Hélène; Passari, Evgenia (May 2015). Financial flows and the international monetary system. National Bureau of Economic Research. NBER Working Paper No. 21172.
