Short Biography

Ricardo J. Caballero is the Ford International Professor of Economics and Co-Director of the World Economic Laboratory at Massachusetts Institute of Technology, and an NBER Research Associate in economic fluctuations and growth. A Chilean native, he received his Ph.D. from MIT. Before returning to MIT, he taught at Columbia University for three years, and was an Olin Fellow at the NBER. Caballero has also been a visiting scholar and consultant at the American Enterprise Institute, the European Central Bank, the Federal Reserve Board, the Inter-American Development Bank, the International Monetary Fund, the World Bank, and several central banks and government institutions around the world.

Caballero’s teaching and research fields are macroeconomics, international economics, and finance. His current research looks at global capital markets, speculative episodes and financial bubbles, systemic crises prevention mechanisms, and dynamic restructuring. His policy work focuses on aggregate risk management and insurance arrangements for emerging market economies. He has also written about aggregate consumption and investment, exchange rates, externalities, growth, price rigidity, and dynamic aggregation. Among his most recent publications, “Bubbles and Capital Flow Volatility: Causes and Risk Management” in Journal of Monetary Economics (with A. Krishnamurthy, Vol. 53/1, January 2006), and “Speculative Growth: Hints from the U.S. Economy” in American Economic Review (with E. Farhi and M. Hammour, Vol. 96/4, September 2006).

He serves in the editorial board of several academic journals and was the winner of the 2002 Frisch Medal of the Econometric Society.