Global economic governance and economic policy: A personal perspective

The policy advice given by economists in international institutions is influenced by their prior academic work. In my case, applied general equilibrium work resulted both in a belief in the necessity of decentralized markets and in a distrust of their ability to be stable. A career in international institutions can also create a global outlook that can be a public good when trying to achieve collective action while accommodating legitimate but narrower national interests. Finally, even if an underlying economic strategy is well designed, emphasis on communications with multiple audiences is crucial for both national and international policy success.