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Photo of Shaghil Ahmed

Shaghil Ahmed

Deputy Associate Director

Program Direction Section

International Finance

202-452-3209
shaghil.ahmed@frb.gov
Education
  • Ph.D., Economics, University of Rochester, 1985
  • M.A., Economics, University of Rochester, 1983
  • B.Sc., Economics, London School of Economics, 1980
  • Current Research Topics

  • Emerging Market Exchange Rates and Capital Flows
  • Linkages Between Emerging And Advanced Economies
    • International Finance Division

      Board of Governors of the Federal Reserve System

    • 1995 - present
    • Managing Director

      Social Policy and Development Center, Pakistan

    • 2004 - 2006
    • Assistant Professor

      Pennsylvania State University

    • 1986 - 1995
    • Visiting Scholar

      Federal Reserve Bank of Philadelphia

    • 1992 - 1993
    • Visiting Assistant Professor

      Anderson Graduate School of Management, UCLA

    • 1991 - 1992
    • Visiting Assistant Professor

      Brown University

    • 1984 - 1986
  • Ahmed, Shaghil, and Andrei Zlate (2013). "Capital Flows to Emerging Market Economies: A Brave New World?" International Finance Discussion Papers 1081. Board of Governors of the Federal Reserve System (U.S.).
  • Ahmed, Shaghil (2009). "Are Chinese Exports Sensitive to Changes in the Exchange Rate?" International Finance Discussion Papers 987. Board of Governors of the Federal Reserve System (U.S.).
  • Haltmaier, Jane, Shaghil Ahmed, Brahima Coulibaly, Ross Knippenberg, Sylvain Leduc, Mario Marazzi, and Beth Anne Wilson (2009). "The Role of China in Asia: Engine, Conduit, Or Steamroller?" in Yueh, Linda ed., The Future of Asian Trade and Growth: Economic Development with the Emergence of China. London: Routledge.
  • Ahmed, Shaghil (2008). "Impact of Trade Liberalization on Growth and Poverty in Pakistan," in Kugelman, Michael, Robert M. Hatahaway eds., Hard Sell: Attaining Pakistani Competitiveness in Global Trade. Washington, DC: Woodrow Wilson Center, pp. 65-86.
  • Haltmaier, Jane, Shaghil Ahmed, Brahima Coulibaly, Ross Knippenberg, Sylvain Leduc, Mario Marazzi, and Beth Anne Wilson (2007). "The Role of China in Asia: Engine, Conduit, Or Steamroller?" International Finance Discussion Papers 904. Board of Governors of the Federal Reserve System (U.S.).
  • Ahmed, Shaghil (2006). "First SBP International Conference on 'Monetary-Cum-Exchange Rate Regime: What Works Best for Emerging Market Economies?': Concluding Remarks," State Bank of Pakistan Research Bulletin, vol. 2, no. 1, pp. 313-318.
  • Ahmed, Shaghil, Iffat Ara, and Kalim Hyder (2006). "How External Shocks and Exchange Rate Depreciations Affect Pakistan? Implications for Choice of an Exchange Rate Regime," State Bank of Pakistan Research Bulletin, vol. 2, no. 1, pp. 61-88.
  • Ahmed, Shaghil, Andrew Levin, and Beth Anne Wilson (2004). "Recent U.S. Macroeconomic Stability: Good Policies, Good Practices, Or Good Luck?" Review of Economics and Statistics, vol. 86, no. 3, pp. 824-832.
  • Ahmed, Shaghil (2003). "Sources of Economic Fluctuations in Latin America and Implications for Choice of Exchange Rate Regimes," Journal of Development Economics, vol. 72, no. 1, pp. 181-202.
  • Ahmed, Shaghil, Andrew Levin, and Beth Anne Wilson (2002). "Recent U.S. Macroeconomic Stability: Good Policies, Good Practices Or Good Luck?" International Finance Discussion Papers 730. Board of Governors of the Federal Reserve System (U.S.).
  • Ahmed, Shaghil, Christopher J. Gust, Steven B. Kamin, and Jonathan Huntley (2002). "Are Depreciations as Contractionary as Devaluations? A Comparison of Selected Emerging and Industrial Economies," International Finance Discussion Papers 737. Board of Governors of the Federal Reserve System (U.S.).
  • Ahmed, Shaghil, and John H. Rogers (2000). "Inflation and the Great Ratios: Long Term Evidence from the U.S," Journal of Monetary Economics, vol. 45, no. 1, pp. 3-35.
  • Ahmed, Shaghil (1998). "Comment on "the Legal Environment, Banks, and Long-Run Economic Growth."," Journal of Money, Credit, and Banking, vol. 30, no. 3, pp. 614-620.
  • Ahmed, Shaghil (1996). "Balanced-Budget Rules and Public Deficits: Evidence from the U.S. States: A Comment," Carnegie-Rochester Conference Series on Public Policy, vol. 45, pp. 77-87.
  • Ahmed, Shaghil, and Dean Croushore (1996). "The Marginal Cost of Funds with Nonseparable Public Spending," Public Finance Quarterly, vol. 24, no. 2, pp. 216-236.
  • Ahmed, Shaghil, and John H. Rogers (1996). "Long-Term Evidence on the Tobin and Fisher Effects: A New Approach," International Finance Discussion Papers 566. Board of Governors of the Federal Reserve System (U.S.).
  • Ahmed, Shaghil, and Byung Sam Yoo (1995). "Fiscal Trends in Real Economic Aggregates," Journal of Money, Credit, and Banking, vol. 27, no. 4, pp. 985-1001.
  • Ahmed, Shaghil, and Dean Croushore (1995). "The Importance of the Tax System in Determining the Marginal Cost of Funds," Public Finance, vol. 50, no. 2, pp. 173-181.
  • Ahmed, Shaghil, and John H. Rogers (1995). "Government Budget Deficits and Trade Deficits: Are Present Value Constraints Satisfied in Long-Term Data?" Journal of Monetary Economics, vol. 36, no. 2, pp. 351-374.
  • Ahmed, Shaghil, and Jae Ha Park (1994). "Sources of Macroeconomic Fluctuations in Small Open Economies," Journal of Macroeconomics, vol. 16, no. 1, pp. 1-36.
  • Ahmed, Shaghil, and Radha Murthy (1994). "Money, Output, and Real Business Cycles in a Small Open Economy," Canadian Journal of Economics, vol. 27, no. 4, pp. 982-993.
  • Ahmed, Shaghil (1993). "International Business Cycles," American Economic Review, vol. 83, no. 3, pp. 335-359.
  • Ahmed, Shaghil (1989). "Islamic Banking and Finance: A Review Essay," Journal of Monetary Economics, vol. 24, no. 1, pp. 157-167.
  • Ahmed, Shaghil (1987). "Government Spending, the Balance of Trade and the Terms of Trade in British History," Journal of Monetary Economics, vol. 20, no. 2, pp. 195-220.
  • Ahmed, Shaghil (1987). "Wage Stickiness and the Non-Neutrality of Money: A Cross-Industry Analysis," Journal of Monetary Economics, vol. 20, no. 1, pp. 25-50.
  • Ahmed, Shaghil (1986). "Temporary and Permanent Government Spending in an Open Economy: Some Evidence for the United Kingdom," Journal of Monetary Economics, vol. 17, no. 2, pp. 197-224.
  • conference

    November, 2013

    CEMLA, Annual Meetings of Central Bank Researchers Network, Mexico City, Mexico

    Capital Flows to Emerging Market Economies: A Brave New World?

  • conference

    April, 2013

    4th BIS-CCA Research Conference, Santiago, Chile

    Capital Flows to Emerging Market Economies: A Brave New World?

  • conference

    June, 2012

    Canadian Economic Association Annual Meetings, Calgary, Canada

    How Sensitive Are Chinese Exports to Exchange Rate Changes: Implications for Current Account Adjustment

  • conference

    May 2010

    NAFTA Central Banks Research Conference, Ottawa. Canada

    Reforming China's Exchange Rate Regime and Its Implications

  • conference

    March 2010

    Oxmetrics Conference, George Washington University, Washington, DC

    Are Chinese Exports Sensitive to Changes in the Exchange Rate?

  • conference

    January 2010

    Hong Kong Institute of Monetary Research, International Conference on the Chinese Economy, Hong Kong

    Are Chinese Exports Sensitive to Changes in the Exchange Rate?

  • conference

    May 2009

    Canadian Economic Association Annual Meetings, Toronto, Canada

    Are Chinese Exports Sensitive to Changes in the Exchange Rate?

Referee

  • American Economic Review
  • Canadian Journal of Economics
  • Economica
  • Economic Inquiry
  • Economic Journal
  • IMF Economic Review
  • International Economic Review
  • Journal of Business and Economic Statistics
  • Journal of Development Economics
  • Journal of Economic Growth
  • Journal of International Economics
  • Journal of International Money and Finance
  • Journal of Macroeconomics
  • Journal of Money, Credit, and Banking
  • Journal of Monetary Economics
  • Oxford Bulletin of Economics and Statistics
  • Oxford Economic Papers
  • Pakistan Development Review
  • Pakistan Journal of Applied Economics
  • Review of Economics and Statistics
  • World Development

Professional Affiliation

  • Society of Government Economists
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Last update: October 6, 2014