Jay Shambaugh

Jay Shambaugh is a nonresident senior fellow in Economic Studies at the Brookings Institution. He is also a Professor of Economics and International Affairs at the Elliott School of International Affairs at The George Washington University. He has spent two stints in public service. Most recently, he served as a Member of the White House Council of Economic Advisers (August 2015-January 2017) where he was involved in policy related to international economics, macroeconomics, competition policy, energy and environment policy, housing, finance, technology, as well as other issues. He also served as first Senior Economist for International Economics and then Chief Economist at the White House Council of Economic Advisers (2009-11).

Prior to joining the faculty at George Washington, Jay taught at Georgetown and Dartmouth. He is also a Research Associate at the NBER and has been a visiting scholar at the IMF. Jay received his PhD in economics from the University of California at Berkeley, MA from the Fletcher School at Tufts, and BA from Yale University.

Jay’s area of research is macroeconomics and international economics. His work includes analysis of the interaction of exchange rate regimes with monetary policy, capital flows, and trade flows as well as studies of international reserves holdings, country balance sheet exchange rate exposure, the cross-country impact of fiscal policy, and the current crisis in the euro area. In addition to his book, Exchange Rate Regimes in the Modern Era (MIT Press, 2009), Jay has published in The American Economic Review, The Quarterly Journal of Economics, and other leading journals.

EDUCATION

• Ph.D. (2002), University of California, Berkeley
• M.A.L.D. (1997), Fletcher School of Law and Diplomacy
• B.A. (1992), Yale University