Difference between revisions of "Philip Lane"

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|alma_mater=Blackrock College,Trinity College (Dublin), Harvard University
 
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|description=Governor of the Central Bank of Ireland. Since 2019 Chief Economist at the [[European Central Bank]]
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'''Philip Richard Lane''' is an Irish economist who has been a Member of the [[Executive Board of the European Central Bank]] since June 2019. He was previously the [[Governor of the Central Bank of Ireland]] from 2015 to 2019.<ref name="it">https://www.irishtimes.com/business/economy/governing-hand-philip-lane-takes-charge-of-central-bank-in-recovering-economy-1.2488490 </ref> He is the ECB's Chief Economist and is seen by many to provide an academic counterweight to the traditional political abilities of ECB President, [[Christine Lagarde]].<ref>[https://www.bloomberg.com/opinion/articles/2019-02-28/ecb-is-likely-to-tap-ireland-s-philip-lane-as-chief-economist, The Next ECB Chief Economist Is More Than a Dove], Bloomberg, February 28, 2019</ref><ref>https://www.ft.com/content/16ef35f2-4389-11ea-abea-0c7a29cd66fe</ref><ref>https://www.bloomberg.com/news/articles/2019-07-03/lagarde-s-move-to-top-of-ecb-makes-lane-her-monetary-brain</ref>
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==Career==
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He was the professor of international macroeconomics and Director of the Institute for International Integration Studies (IIIS) at [[Trinity College Dublin]]. He studied at Trinity College Dublin and was [[List of Scholars of Trinity College Dublin|elected a scholar in Economic and Social Studies]] there, before receiving a doctorate in [[Economics]] at [[Harvard University]] in 1995. He then became Assistant Professor of Economics and International Affairs at [[Columbia University]] during 1995–1997, before returning to Trinity College, Dublin in 1997. He remains affiliated with Trinity College as Whatley Professor of Political Economy (on leave). He was a research fellow of the [[Centre for Economic Policy Research]] and had been a visiting scholar at the [[International Monetary Fund]] and the [[Federal Reserve Bank of New York]] and a consultant to the [[European Commission]]. He is among the "Top 5% of Economists in the World" according to [[RePEc|IDEAS/RePEc]].<ref>https://ideas.repec.org/top/top.person.all.html</ref>
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His research interests include [[international economics]], [[economic growth]], [[European Monetary Union]] and Irish economic performance. He is best known for his work on the voracity effect, by which a positive shock perversely reduces economic growth through more-than-proportionate fiscal redistribution,<ref>https://doi.org/10.1257%2Faer.89.1.22</ref> and for his measurements of the stocks of foreign assets.
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He has also chaired the Advisory Scientific Committee of the [[European Systemic Risk Board]] and was Director of the International Macroeconomics and Finance Programme at [[Centre for Economic Policy Research|CEPR]]. He has also acted as an academic consultant for the [[European Central Bank]], [[World Bank]], [[OECD]], [[Asian Development Bank]] and a number of national central banks. In September 2016, he was appointed as chair of the ESRB High-Level Task Force on Safe Assets.
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==Governor of the Central Bank of Ireland==
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Lane appeared regularly in the media prior to his appointment as Governor of the [[Central Bank of Ireland]].<ref>[http://www.iht.com/articles/2008/06/01/business/euro.php IHT, 1 Jun 2008]</ref>  The [[Central Bank of Ireland]]'s reputation was badly damaged in the Irish financial crisis. Lane has taken actions to address some of the main criticisms (e.g. explicit mortgage controls and the new [[modified gross national income]] metric), even though other ways of doing the same things remain (e.g. commercial property bubbles, and light-touch regulation),<ref name="jim1">https://www.tasc.ie/download/pdf/seminar_on_section_110_12th_jan_2017.pdf</ref><ref name="jim2">https://www.tasc.ie/download/pdf/ireland_global_finance_and_the_russian_connection.pd</ref><ref name="rus2">https://www.businesspost.ie/news/russian-firms-funnelled-e100bn-dublin-410840</ref><ref>https://www.irishtimes.com/business/media-and-marketing/more-than-100bn-in-russian-money-funnelled-though-dublin-1.3414480</ref><ref name="rus3">https://www.irishtimes.com/business/financial-services/a-third-of-ireland-s-shadow-banking-subject-to-little-or-no-oversight-1.3077931?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Ffinancial-services%2Fa-third-of-ireland-s-shadow-banking-subject-to-little-or-no-oversight-1.3077931</ref> and that new controls, such as mortgage limits, are being circumvented by Irish banks,<ref name="mt1">https://www.irishtimes.com/business/financial-services/mortgages-how-to-get-around-the-central-bank-s-borrowing-rules-1.2614954</ref><ref name="mt2">https://www.independent.ie/business/personal-finance/borrow-up-to-five-times-your-income-no-probs-30619278.html</ref> and the Irish State itself.<ref name="hb1">https://www.independent.ie/business/personal-finance/property-mortgages/helptobuy-scheme-fuels-surge-in-house-prices-35587647.html</ref><ref name="hb2">https://www.irishexaminer.com/ireland/help-to-buy-scheme-sees-24k-surge-in-house-prices-453951.html</ref>
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==Other activities==
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As Governor of the Central Bank of Ireland, Lane was an Ex-Officio Alternate Member of the Board of Governors of the [[International Monetary Fund]] (IMF)<ref>[http://www.imf.org/external/np/sec/memdir/members.aspx Members] [[International Monetary Fund]] (IMF).</ref>
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==References==
 
==References==
 
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Latest revision as of 18:20, 6 September 2022

Person.png Philip Lane   WebsiteRdf-entity.pngRdf-icon.png
(central banker, economist)
Philip Lane Ireland.jpg
From left to right: The Provost of Trinity College, Dr Patrick Prendergast; President of the European Central Bank, Mario Draghi; and Philip Lane.
BornPhilip Richard Lane
27 August 1969
Dublin, Ireland
NationalityIrish
Alma materBlackrock College, Trinity College (Dublin), Harvard University
Children2
SpouseOrla Lane
Member ofEuro 50 Group
Governor of the Central Bank of Ireland. Since 2019 Chief Economist at the European Central Bank

Employment.png Governor of the Central Bank of Ireland

In office
3 November 2015 - Present

Employment.png Chief Economist

In office
1 June 2019 - Present
EmployerEuropean Central Bank

Philip Richard Lane is an Irish economist who has been a Member of the Executive Board of the European Central Bank since June 2019. He was previously the Governor of the Central Bank of Ireland from 2015 to 2019.[1] He is the ECB's Chief Economist and is seen by many to provide an academic counterweight to the traditional political abilities of ECB President, Christine Lagarde.[2][3][4]

Career

He was the professor of international macroeconomics and Director of the Institute for International Integration Studies (IIIS) at Trinity College Dublin. He studied at Trinity College Dublin and was elected a scholar in Economic and Social Studies there, before receiving a doctorate in Economics at Harvard University in 1995. He then became Assistant Professor of Economics and International Affairs at Columbia University during 1995–1997, before returning to Trinity College, Dublin in 1997. He remains affiliated with Trinity College as Whatley Professor of Political Economy (on leave). He was a research fellow of the Centre for Economic Policy Research and had been a visiting scholar at the International Monetary Fund and the Federal Reserve Bank of New York and a consultant to the European Commission. He is among the "Top 5% of Economists in the World" according to IDEAS/RePEc.[5]

His research interests include international economics, economic growth, European Monetary Union and Irish economic performance. He is best known for his work on the voracity effect, by which a positive shock perversely reduces economic growth through more-than-proportionate fiscal redistribution,[6] and for his measurements of the stocks of foreign assets.

He has also chaired the Advisory Scientific Committee of the European Systemic Risk Board and was Director of the International Macroeconomics and Finance Programme at CEPR. He has also acted as an academic consultant for the European Central Bank, World Bank, OECD, Asian Development Bank and a number of national central banks. In September 2016, he was appointed as chair of the ESRB High-Level Task Force on Safe Assets.

Governor of the Central Bank of Ireland

Lane appeared regularly in the media prior to his appointment as Governor of the Central Bank of Ireland.[7] The Central Bank of Ireland's reputation was badly damaged in the Irish financial crisis. Lane has taken actions to address some of the main criticisms (e.g. explicit mortgage controls and the new modified gross national income metric), even though other ways of doing the same things remain (e.g. commercial property bubbles, and light-touch regulation),[8][9][10][11][12] and that new controls, such as mortgage limits, are being circumvented by Irish banks,[13][14] and the Irish State itself.[15][16]

Other activities

As Governor of the Central Bank of Ireland, Lane was an Ex-Officio Alternate Member of the Board of Governors of the International Monetary Fund (IMF)[17]


 

Event Participated in

EventStartEndLocation(s)
Financial Flows and Infrastructure Financing20 March 201421 March 2014Australia
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References

  1. ↑ https://www.irishtimes.com/business/economy/governing-hand-philip-lane-takes-charge-of-central-bank-in-recovering-economy-1.2488490
  2. ↑ The Next ECB Chief Economist Is More Than a Dove, Bloomberg, February 28, 2019
  3. ↑ https://www.ft.com/content/16ef35f2-4389-11ea-abea-0c7a29cd66fe
  4. ↑ https://www.bloomberg.com/news/articles/2019-07-03/lagarde-s-move-to-top-of-ecb-makes-lane-her-monetary-brain
  5. ↑ https://ideas.repec.org/top/top.person.all.html
  6. ↑ https://doi.org/10.1257%2Faer.89.1.22
  7. ↑ IHT, 1 Jun 2008
  8. ↑ https://www.tasc.ie/download/pdf/seminar_on_section_110_12th_jan_2017.pdf
  9. ↑ https://www.tasc.ie/download/pdf/ireland_global_finance_and_the_russian_connection.pd
  10. ↑ https://www.businesspost.ie/news/russian-firms-funnelled-e100bn-dublin-410840
  11. ↑ https://www.irishtimes.com/business/media-and-marketing/more-than-100bn-in-russian-money-funnelled-though-dublin-1.3414480
  12. ↑ https://www.irishtimes.com/business/financial-services/a-third-of-ireland-s-shadow-banking-subject-to-little-or-no-oversight-1.3077931?mode=sample&auth-failed=1&pw-origin=https%3A%2F%2Fwww.irishtimes.com%2Fbusiness%2Ffinancial-services%2Fa-third-of-ireland-s-shadow-banking-subject-to-little-or-no-oversight-1.3077931
  13. ↑ https://www.irishtimes.com/business/financial-services/mortgages-how-to-get-around-the-central-bank-s-borrowing-rules-1.2614954
  14. ↑ https://www.independent.ie/business/personal-finance/borrow-up-to-five-times-your-income-no-probs-30619278.html
  15. ↑ https://www.independent.ie/business/personal-finance/property-mortgages/helptobuy-scheme-fuels-surge-in-house-prices-35587647.html
  16. ↑ https://www.irishexaminer.com/ireland/help-to-buy-scheme-sees-24k-surge-in-house-prices-453951.html
  17. ↑ Members International Monetary Fund (IMF).
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