Philip Lane

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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
Nationality Irish
Alma mater •  Blackrock College
•  Trinity College (Dublin)
•  Harvard University
Children 2
Spouse Orla 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]


 

Events Participated in

EventStartEndLocation(s)Description
Financial Flows and Infrastructure Financing20 March 201421 March 2014AustraliaA conference held in Australia in March 2014.
Jackson Hole/Meeting/201625 August 201627 August 2016The 2016 Jackson Hole Economic Policy Symposium
Jackson Hole/Meeting/201724 August 201726 August 2017The 2017 Jackson Hole Economic Policy Symposium
Jackson Hole/Meeting/201823 August 201825 August 2018The 2018 Jackson Hole Economic Policy Symposium
Jackson Hole/Meeting/201922 August 201924 August 2019US
Wyoming		A central banker gathering preparing for an economic reset that happened during Covid; and the introduction of CBDCs.
Jackson Hole/Meeting/202324 August 202326 August 2023The 2023 Jackson Hole Economic Policy Symposium
Jackson Hole/Meeting/202422 August 202424 August 2024The 2024 Jackson Hole Economic Policy Symposium
Jackson Hole/Meeting/202521 August 202525 August 2025US
Wyoming		The 2025 Jackson Hole Economic Policy Symposium

 

Event Virtually Participated in

EventStartEndDescription
Jackson Hole/Meeting/202027 August 202028 August 2020Conducted online during "Covid".
Many thanks to our Patrons who cover ~2/3 of our hosting bill. Please join them if you can.


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%2Fblue-sea-697d.quartiers047.workers.dev%3A443%2Fhttps%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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