Agustín Carstens

Agustín Carstens
International Monetary Fund · Public domain · source
Name	Agustín Carstens
Birth date	1958
Nationality	Mexican

Agustín Carstens is a renowned Mexican economist, currently serving as the General Manager of the Bank for International Settlements (BIS), a position he has held since 2017. He has had a distinguished career, working with various prestigious institutions such as the International Monetary Fund (IMF), World Bank, and Bank of Mexico. Carstens has also worked closely with notable economists, including Ben Bernanke, Janet Yellen, and Mario Draghi. His expertise in macroeconomics and monetary policy has been influential in shaping the global economic landscape, with collaborations with institutions like the Federal Reserve, European Central Bank, and People's Bank of China.

● Early Life and Education

Agustín Carstens was born in 1958 in Mexico City, Mexico. He pursued his higher education at the Instituto Tecnológico Autónomo de México (ITAM), where he earned a degree in economics. Carstens then moved to the United Kingdom to attend the University of Cambridge, where he earned a Master of Philosophy degree in economics from King's College, Cambridge. He also holds a Ph.D. in economics from the University of Chicago, where he studied under the guidance of prominent economists like Milton Friedman and Gary Becker. During his time at the University of Chicago, Carstens was exposed to the ideas of Friedrich Hayek, Joseph Schumpeter, and Frank Knight, which significantly influenced his economic views.

● Career

Carstens began his career in the Mexican Ministry of Finance and Public Credit, where he worked on various projects related to fiscal policy and public finance. He then moved to the International Monetary Fund (IMF), where he worked as an economist in the Western Hemisphere Department. Carstens has also worked with the World Bank, collaborating with economists like Joseph Stiglitz and Amartya Sen. His work at these institutions has taken him to various countries, including Argentina, Brazil, Chile, and Colombia, where he has worked with central banks like the Central Bank of Argentina, Central Bank of Brazil, and Central Bank of Chile.

● Governor of

the Bank of Mexico In 2010, Carstens was appointed as the Governor of the Bank of Mexico, a position he held until 2017. During his tenure, he worked closely with the Mexican government, led by Felipe Calderón and later Enrique Peña Nieto, to implement various economic reforms. Carstens also collaborated with other central banks, such as the Federal Reserve, led by Ben Bernanke and later Janet Yellen, and the European Central Bank, led by Mario Draghi. His work at the Bank of Mexico involved interactions with international institutions like the G20, G7, and the Financial Stability Board (FSB), as well as with prominent economists like Nouriel Roubini and Robert Shiller.

● General Manager of

the BIS In 2017, Carstens was appointed as the General Manager of the Bank for International Settlements (BIS), becoming the first Mexican to hold this position. As General Manager, he has worked to promote global financial stability, collaborating with central banks and financial institutions from around the world, including the People's Bank of China, Bank of Japan, and Bank of England. Carstens has also worked closely with the Financial Stability Board (FSB), the International Monetary Fund (IMF), and the World Bank to address global economic challenges, such as the European sovereign-debt crisis and the COVID-19 pandemic. His work at the BIS has involved interactions with notable economists, including Olivier Blanchard, Kenneth Rogoff, and Raghuram Rajan.

● Economic Policy and Views

Carstens has been a strong advocate for monetary policy independence and has emphasized the importance of price stability in promoting economic growth. He has also stressed the need for fiscal discipline and has worked to promote financial inclusion and financial stability. Carstens has written extensively on topics such as macroeconomics, monetary policy, and international finance, and has published articles in prestigious journals like the Journal of Monetary Economics and the Journal of International Economics. His work has been influenced by the ideas of Milton Friedman, Friedrich Hayek, and Joseph Schumpeter, and he has collaborated with economists like Greg Mankiw and David Romer.

● Awards and Recognition

Throughout his career, Carstens has received numerous awards and recognitions for his contributions to economics and finance. He has been awarded the Mexican National Prize for Economics and has been recognized as one of the most influential economists in the world by Bloomberg and Forbes. Carstens has also received honorary degrees from institutions like the University of Geneva and the University of Zurich, and has been awarded the Grand Cross of the Order of the Aztec Eagle by the Mexican government. His work has been recognized by international institutions like the International Monetary Fund (IMF), World Bank, and Bank for International Settlements (BIS), and he has collaborated with prominent economists like Paul Krugman and Joseph Stiglitz. Category:Mexican economists