Eswar Prasad
Research Fellow

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Prasad Eswar Prasad is the Tolani Senior Professor of Trade Policy and Professor of Economics at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a Research Associate at the National Bureau of Economic Research. He was previously chief of the Financial Studies Division in the International Monetary Fundís Research Department and, before that, was the head of the IMFís China Division.

Prasad's latest book is Gaining Currency: The Rise of the Renminbi (Oxford University Press, October 2016). His previous books include the award-winning The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance (Princeton University Press, 2014) and Emerging Markets: Resilience and Growth Amid Global Turmoil (with M. Ayhan Kose; Brookings Institution Press, 2010). His extensive publication record includes articles in numerous collected volumes as well as top academic journals such as the American Economic Review, American Economic Journal: Macroeconomics, Brookings Papers on Economic Activity, The Economic Journal, International Economic Review, Journal of Development Economics, Journal of Economic Perspectives, Journal of International Economics, Journal of International Money and Finance, Journal of Monetary Economics, and Review of Economics and Statistics. He has co-authored and edited numerous books and monographs, including on financial regulation and on China and India.

Prasad has testified before various U.S. Congressional Committees, including the Senate Finance Committee, the House of Representatives Committee on Financial Services, and the U.S.-China Economic and Security Review Commission. He was a member of the analytical team that drafted the 2008 report of the High-Level Committee on Financial Sector Reforms set up by the Government of India and is the Lead Academic for the DFID-LSE International Growth Centerís India Growth Research Program. He is the creator of the Brookings-Financial Times world index (TIGER: Tracking Indices for the Global Economic Recovery; His op-ed articles have appeared in the Financial Times, Foreign Policy, Harvard Business Review, New York Times, Wall Street Journal, and the Washington Post and other newspapers. He has made frequent appearances on BBC, Bloomberg, CNBC, CNN, C-SPAN, Fox, NBC, NPR, PBS, Reuters, and other radio and television channels.

He has been a Research Fellow at IZA since 2002.

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IZA Discussion Papers:
No. Author(s)
11311  Grace Weishi Gu
Eswar Prasad
New Evidence on Cyclical Variation in Labor Costs in the U.S.
9405  G. Andrew Karolyi
David T. Ng
Eswar Prasad
The Coming Wave: Where Do Emerging Market Investors Put Their Money?
9272  Eswar Prasad
Boyang Zhang
Distributional Effects of Monetary Policy in Emerging Market Economies
9219  Rahul Anand
Eswar Prasad
Boyang Zhang
What Measure of Inflation Should a Developing Country Central Bank Target?
(published in: Journal of Monetary Economics, 2015, 74, 102-116)
7777  Eswar Prasad
Distributional Effects of Macroeconomic Policy Choices in Emerging Market Economies
(published in: IMF Economic Review, 2014, 62 (3), 409-429)
6335  Eswar Prasad
Lei (Sandy) Ye
The Renminbi's Role in the Global Monetary System
(published in: Proceedings of the 2011 Asia Economic Policy Conference, Federal Reserve Bank of San Francisco, 2011, 127-197)
6032  Eswar Prasad
Role Reversal in Global Finance
(published in: Proceedings of the 2011 Jackson Hole Symposium, Federal Reserve Bank of Kansas City, 2011, 391-398)
5331  Marcos Chamon
Kai Liu
Eswar Prasad
Income Uncertainty and Household Savings in China
(published in: Journal of Development Economics, 2013, 105, 164-177)
5233  Eswar Prasad
Financial Sector Regulation and Reforms in Emerging Markets: An Overview
(published in: Masahiro Kawai and Eswar Prasad (eds.), Financial Sector Reforms and Regulation in Emerging Markets, Washington, DC: Brookings Institution Press, 2011, 3-24)
5137  Rahul Anand
Eswar Prasad
Optimal Price Indices for Targeting Inflation under Incomplete Markets
4298  Eswar Prasad
Rebalancing Growth in Asia
(published in: International Finance, 2011, 14 (1), 27 - 66)
4133  M. Ayhan Kose
Eswar Prasad
Ashley D. Taylor
Thresholds in the Process of International Financial Integration
(published in: Journal of International Money and Finance, 2011, 30(1), 147-179)
4037  M. Ayhan Kose
Eswar Prasad
Kenneth Rogoff
Shang-Jin Wei
Financial Globalization and Economic Policies
(published in: Dani Rodrik and Mark Rosenzweig (eds.), Handbook of Development Economics, Vol. 5, The Netherlands: North-Holland, 2010, 4283-4362.)
3927  Eswar Prasad
India's Approach to Capital Account Liberalization
(published in: Brookings India Policy Forum, August 2009)
3634  M. Ayhan Kose
Eswar Prasad
Marco E. Terrones
Does Openness to International Financial Flows Contribute to Productivity Growth?
(published in: Journal of International Money and Finance, 2009, 28 (4), 554-580)
3475  Eswar Prasad
Raghuram G. Rajan
A Pragmatic Approach to Capital Account Liberalization
(published in: Journal of Economic Perspectives, 2008, 22 (3), 149-172)
3442  M. Ayhan Kose
Christopher Otrok
Eswar Prasad
Global Business Cycles: Convergence or Decoupling?
(published in: International Economic Review, 2012, 53 (2), 511 - 538)
3191  Marcos Chamon
Eswar Prasad
Why Are Saving Rates of Urban Households in China Rising?
(published in: American Economic Journal: Macroeconomics, 2010, 2 (1), 93-130)
3186  Eswar Prasad
Raghuram G. Rajan
Arvind Subramanian
Foreign Capital and Economic Growth
(published in: Brookings Papers on Economic Activity, 2007 (1), 153-230)
2995  Eswar Prasad
Is the Chinese Growth Miracle Built to Last?
(published in: China Economic Review, 2009, 20 (1), 103-123)
2903  M. Ayhan Kose
Eswar Prasad
Marco E. Terrones
How Does Financial Globalization Affect Risk Sharing? Patterns and Channels
(published in: Journal of Development Economics, 2009, 89 (2), 258-270)
2252  M. Ayhan Kose
Eswar Prasad
Marco E. Terrones
How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility?
(published in: Journal of International Economics, 2006, 69 (1), 176-202)
2248  Eswar Prasad
Raghuram G. Rajan
Modernizing China's Growth Paradigm
(published in: American Economic Review, 2006, 96 (2), 331-336)
This paper has repeatedly been among the Top 10 monthly downloads. 
M. Ayhan Kose
Eswar Prasad
Marco E. Terrones
How Does Globalization Affect the Synchronization of Business Cycles?
(published in: American Economic Review, 2003, 93 (2), 57-62)
694  Eswar Prasad
What Determines the Reservation Wages of Unemployed Workers? New Evidence from German Micro Data
(published in: Gabriel Fagan, Francesco Mongelli and Julian Morgan (eds.), Institutions and Wage Formation in the New Europe: Proceedings of the ECB's Annual Labor Market Workshop, London: Edward Elgar, 2004)
510  Eswar Prasad
Wage Inequality in the United Kingdom, 1975-99
(published in: IMF Staff Papers, 2002, 49 (3), 339-362)
496  Michael P. Keane
Eswar Prasad
Changes in the Structure of Earnings During the Polish Transition
(published in: Journal of Development Economics, 2006, 80 (2), 389-427)
487  Robin L. Lumsdaine
Eswar Prasad
Identifying the Common Component of International Economic Fluctuations: A New Approach
(published in: Economic Journal, 2003, 113 (484), 101-127)
448  Michael P. Keane
Eswar Prasad
Inequality, Transfers and Growth: New Evidence from the Economic Transition in Poland
(published in: Review of Economics and Statistics, 2002, 84 (2), 324-341)
IZA Policy Papers:
No. Author(s)
13 Eswar Prasad
Grace Weishi Gu
An Awkward Dance: China and the United States