Distinguished American Economist Charles Engel Appointed MAS Term Professor at NUS

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Distinguished American economist Charles Engel appointed MAS Term Professor at NUS

Singapore, 13 January 2017…The National University of Singapore (NUS) and the Monetary Authority of Singapore (MAS) have jointly appointed American economist Professor Charles Engel, internationally recognised for his research on exchange rates, as the MAS Term Professor in Economics and Finance from 16 to 20 January 2017. Professor Engel will be hosted by the NUS Faculty of Arts and Social Sciences’ Department of Economics and the Economic Policy Group at the MAS during the term of the Professorship.

Professor Charles Engel is the Donald Hester Professor of Economics at the University of Wisconsin-Madison. He is also a Research Associate for the National Bureau of Economic Research; a Research Affiliate at the Research Centre for International Economics, City University of Hong Kong; International Research Fellow, Kiel Institute, Kiel, Germany; Senior Fellow, Globalisation and Monetary Policy Institute, Federal Reserve Bank of Dallas; and a member of the Advisory Board, Center for Applied Macroeconomic Analysis (Australia and New Zealand), the Council of Advisers, Hong Kong Institute for Monetary Research, and the Bank for International Settlements (BIS) Advisory Panel.

He has been a Visiting Scholar at the Federal Reserve Board, the International Monetary Fund, the European Central Bank, the BIS, and central banks in several countries including the UK, France, the Netherlands, Hong Kong, Singapore, Serbia, Uruguay and Chile. He is also a regular Visiting Scholar at the Federal Reserve Banks of San Francisco, Philadelphia, and Dallas.

Professor Engel’s research interests span a broad range of topics in the fields of open economy macroeconomics and international finance. He has published numerous articles in the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of International Economics, and the Journal of Monetary Economics, amongst many other journals. Since 2001, he has been Editor of the Journal of International Economics, the leading academic journal in the field of international economics.

1 Professor Robbie Goh, Dean, NUS Faculty of Arts and Social Sciences, said, “NUS is delighted to welcome Professor Charles Engel, a world-renowned expert on monetary policy and international finance. In addition to the impact of his scholarly publications, he also has a great deal of policy experience in a wide range of international contexts. We look forward to facilitating the sharing of his work and ideas with the scholarly community, policymakers and members of the public here.”

Mr Edward Robinson, Assistant Managing Director (Economic Policy) and Chief Economist at MAS, said, “Professor Engel has researched extensively on exchange rates — an area of direct relevance for a small open economy like Singapore — during an illustrious research, teaching and consulting career. He continues to make important contributions at the forefront of the field, addressing some of the deep puzzles in the economics of exchange rates, including the interaction of currency movements with domestic prices and interest rates. We are honoured that he is visiting MAS to share his many insights and will benefit tremendously from the wisdom of his experience.”

Professor Engel will deliver a public lecture at NUS on 19 January 2017 on the analytical considerations behind a country’s management of its currency. He will present a research seminar on his ongoing work pertaining to the effects of sectoral productivity performances on the real exchange rate. In addition, Professor Engel will hold dialogue sessions with NUS students and faculty members to discuss his latest scholarly findings and advise PhD students on their research.

At MAS, Professor Engel will engage senior policymakers and economists on macroeconomic and exchange rate issues.

About the MAS Term Professorship in Economics and Finance

First established in 2009, the MAS Term Professorship in Economics and Finance is awarded to distinguished scholars, who are appointed as Visiting Professors at both the NUS Business School and the Department of Economics at the NUS Faculty of Arts and Social Sciences. It aims to strengthen Singapore’s financial and economics research infrastructure and contribute to a vibrant research community and culture at local universities.

The MAS Term Professorship in Economics and Finance has been awarded to 14 distinguished scholars over the last eight years.

For media enquiries, please contact: MAS NUS

Ms Jacqueline ONG Ms Amal Naquiah AHMAD Deputy Director Manager, Media Relations Corporate Communications Division Office of Corporate Relations Monetary Authority of Singapore National University of Singapore DID: +65 62299159 DID: +65 65165125 Email: [email protected] Email: [email protected]

2 About National University of Singapore (NUS)

A leading global university centred in Asia, the National University of Singapore (NUS) is Singapore’s flagship university, which offers a global approach to education and research, with a focus on Asian perspectives and expertise.

NUS has 17 faculties and schools across three campuses. Its transformative education includes a broad-based curriculum underscored by multi-disciplinary courses and cross- faculty enrichment. Over 38,000 students from 100 countries enrich the community with their diverse social and cultural perspectives.

NUS has three Research Centres of Excellence (RCE) and 30 university-level research institutes and centres. It is also a partner in Singapore’s fifth RCE. The University has established many research partnerships and joint laboratories with academic institutions, industry leaders and government agencies. Research activities are strategic and robust, and NUS is well-known for its research strengths in engineering, life sciences and biomedicine, social sciences and natural sciences. The University also strives to create a supportive and innovative environment to promote creative enterprise within its community.

For more information on NUS, please visit www.nus.edu.sg.

About Monetary Authority of Singapore

As Singapore’s central bank, the Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities. It manages Singapore's exchange rate, foreign reserves and liquidity in the banking sector. MAS is also an integrated supervisor overseeing all financial institutions in Singapore — banks, insurers, capital market intermediaries, financial advisors, and the stock exchange. Being an integrated supervisor allows the MAS to adopt a consistent and progressive regulatory and supervisory approach and framework, thereby ensuring a level playing field across all market segments, sectors and activities. With its mandate to foster a sound and progressive financial services sector in Singapore, MAS also helps shape Singapore’s financial industry by promoting a strong corporate governance framework and close adherence to international accounting standards. In addition, it spearheads retail investor education. MAS ensures that Singapore’s financial industry remains vibrant, dynamic and competitive by working closely with other government agencies and financial institutions to develop and promote Singapore as a regional and international financial centre.

For more information, please visit www.mas.gov.sg.