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Meet the Economists

Photo of Andrei Zlate

Andrei Zlate

Principal Economist Banking and Financial Analysis Section Monetary Affairs
202-452-3386
andrei.zlate@frb.gov

Education

  • Ph.D., Economics, Boston College, 2009
  • M.A., Economics, Boston College, 2005
  • M.Sc., International Business and Economics, Copenhagen Business School, 2004
  • B.A., Economics, Academy of Economic Studies (Bucharest), 2000
Current Research Topics
  • Monetary and macroprudential policy transmission
  • Cross-border banking and portfolio flows
  • Principal Economist

    Board of Governors of the Federal Reserve System

    2019 - present
  • Senior Financial Economist

    Federal Reserve Bank of Boston

    2014 - 2019
  • Economist

    Board of Governors of the Federal Reserve System

    2009 - 2014
  • Visiting Researcher

    National Bank of Poland

    2017
  • Dissertation Fellow

    Federal Reserve Bank of Atlanta

    2008
  • Intern

    European Central Bank

    2007
  • Adrian, Tobias, Patrick de Fontnouvelle, Emily Yang, and Andrei Zlate (2017). "Macroprudential Policy: Case Study from a Tabletop Exercise," New York Fed Economic Policy Review, vol. 23, no. 1, pp. 1-30.
  • Lu, Lina, Matthew Pritsker, Andrei Zlate, Ken Anadu, and James Bohn (2019). "Reach for Yield by U.S. Public Pension Funds," Finance and Economics Discussion Series 2019-048. Board of Governors of the Federal Reserve System (U.S.).
  • Davis, J. Scott, and Andrei Zlate (2019). "Monetary Policy Divergence and Net Capital Flows: Accounting for Endogenous Policy Responses," Journal of International Money and Finance, vol. 94, pp. 15-31.
  • Duffy, Denise, Joseph G. Haubrich, Anna Kovner, Alex Musatov, Edward S. Prescott, Richard J. Rosen, Thomas D. Tallarini, Alexandros P. Vardoulakis, Emily Yang, and Andrei Zlate (2019). "Macroprudential Policy: Results from a Tabletop Exercise" Working paper (Federal Reserve Bank of Cleveland), no. 19-11.
  • Correa, Ricardo, Teodora Paligorova, Horacio Sapriza, and Andrei Zlate (2018). "Cross-Border Bank Flows and Monetary Policy," International Finance Discussion Papers 1241. Board of Governors of the Federal Reserve System (U.S.).
  • Adrian, Tobias, Patrick de Fontnouvelle, Emily Yang, and Andrei Zlate (2017). "Macroprudential Policy: Case Study from a Tabletop Exercise," Economic Policy Review, vol. 23, no. 1, pp. 1-30.
  • Ahmed, Shaghil, Brahima Coulibaly, and Andrei Zlate (2017). "International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?" Journal of International Money and Finance, vol. 76, pp. 133-152.
  • Mandelman, Federico S., and Andrei Zlate (2017). "Economic aspects of international labour migration" International Finance, vol.20, no.1, pp. 100-112.
  • Zlate, Andrei (2016). "Offshore Production and Business Cycle Dynamics with Heterogeneous Firms," Journal of International Economics, vol. 100, pp. 34-49.
  • Davis, Scott and Andrei Zlate (2016). "Financial Performance and Macroeconomic Fundamentals in Emerging Market Economies over the Global Financial Cycle," Globalization and Monetary Policy Institute Working Paper, no. 288. Federal Reserve Bank of Dallas.
  • Adrian, Tobias, Patrick de Fontnouvelle, Emily Yang, and Andrei Zlate (2015). "Macroprudential Policy: Case Study from a Tabletop Exercise," Staff Reports 742. Federal Reserve Bank of New York.
  • Ahmed, Shaghil, Brahima Coulibaly, and Andrei Zlate (2015). "International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?" International Finance Discussion Papers 1135. Board of Governors of the Federal Reserve System (U.S.).
  • Mandelman, Federico S., and Andrei Zlate (2014). "Offshoring, Low-skilled Immigration, and Labor Market Polarization," Working Paper 2014-28. Federal Reserve Bank of Atlanta.
  • Ahmed, Shaghil, and Andrei Zlate (2014). "Capital Flows to Emerging Market Economies: A Brave New World?" Journal of International Money and Finance, vol. 48, pp. 221-248.
  • 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.).
  • Coulibaly, Brahima, Horacio Sapriza, and Andrei Zlate (2013). "Financial Frictions, Trade Credit, and the 2008-09 Global Financial Crisis," International Review of Economics & Finance, vol. 26, no. 1, pp. 25-38.
  • Correa, Ricardo, Horacio Sapriza, and Andrei Zlate (2012). "Liquidity Shocks, Dollar Funding Costs, and the Bank Lending Channel during the European Sovereign Crisis," International Finance Discussion Papers 1059r. Board of Governors of the Federal Reserve System (U.S.).
  • Mandelman, Federico S., and Andrei Zlate (2012). "Immigration, Remittances, and Business Cycles," Journal of Monetary Economics, vol. 59, no. 2, pp. 196-213.
  • Coulibaly, Brahima, Horacio Sapriza, and Andrei Zlate (2011). "Trade Credit and International Trade during the 2008-09 Global Financial Crisis," International Finance Discussion Papers 1020. Board of Governors of the Federal Reserve System (U.S.).
  • Mandelman, Federico S., and Andrei Zlate (2010). "Immigration, Remittances and Business Cycles," International Finance Discussion Papers 998. Board of Governors of the Federal Reserve System (U.S.).
  • Zlate, Andrei (2010). "Offshore Production and Business Cycle Dynamics with Heterogeneous Firms," International Finance Discussion Papers 995. Board of Governors of the Federal Reserve System (U.S.).
  • Zlate, Andrei (2009). "Offshore Production, Labor Migration and the Macroeconomy," Ph.D. dissertation, Boston College.
  • Morgese Borys, Magdalena, Eva Katalin Polgar, and Andrei Zlate (2009). "Real Convergence in Central, Eastern and South-Eastern Europe: A Production Function Approach," in Martin, Reiner, Adalbert Winkler eds., Real Convergence in Central, Eastern and South-Eastern Europe. Basingstoke, United Kingdom: Palgrave-Macmillan Press.
  • Morgese Borys, Magdalena, Éva Katalin Polgár, and Andrei Zlate (2008). "Real Convergence and the Determinants of Growth in the EU Candidate and Potential Candidate Countries: A Panel Data Approach," Occasional Papers 86. Frankfurt am Main: European Central Bank.
  • Tresch, Richard, and Andrei Zlate (2007). "Explorations into the Production of State Government Services: Education, Welfare and Hospitals," Boston College Working Papers in Economics 679. Boston College Department of Economics.
  • Finger, J. Michael, and Andrei Zlate (2005). "Antidumping: Prospects for Discipline from the Doha Negotiations," Journal of World Investment & Trade, vol. 6, no. 4, pp. 531-552.
  • Finger, J. Michael, and Andrei Zlate (2005). "Antidumping: Prospects for Discipline from the Doha Negotiations," Boston College Working Papers in Economics 632. Boston College Department of Economics.

  • conference

    2019

    Dutch Central Bank; Chicago Financial Institutions Conference; IBEFA/WEAI; Econometric Society, Manchester, UK

    Reach for Yield by U.S. Public Pension Funds

  • conference

    May - August 2018

    ECB - Emerging Markets Group Workshop, Cass Business School; European Finance Association, Warsaw

    Cross-Border Bank Flows and Monetary Policy

  • seminar

    November 2017

    Central Bank of Romania

    Wholesale Funding Runs, Global Banks' Supply of Liquidity Insurance, and Corporate Investment

  • conference

    January - June 2017

    Society for Economic Dynamics, Edinburgh, UK; Bank of England; University of Connecticut

    Offshoring, Low-skilled Immigration and Labor Market Polarization

  • seminar

    May 2017

    State Bank of Pakistan

    International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?

  • conference

    December 2016

    14th Research Meeting of NIPFP - DEA Research Program, Alwar, Rajasthan, India

    International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?

  • conference

    September 2016

    CEBRA Conference on "International Trade and Macroeconomic Interdependence in the Age of Global Value Chains, Bank of Lithuania

    Offshoring, Low-skilled Immigration and Labor Market Polarization

  • conference

    June 2016

    Federal Reserve Summer Policy Conference, Atlanta Fed

    Macroprudential Policy: Case Study from a Tabletop Exercise

  • conference

    June 2016

    Barcelona GSE Summer Forum

    International Shocks and Firm-Level Volatility

  • conference

    November 2015

    Hong Kong Monetary Authority - FR Board - ECB - Dallas Fed Conference on "Diverging Monetary Policies, Capital Flows and Financial Stability"

    International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?

  • conference

    July 2014

    NBER Summer Institute, International Finance and Macroeconomics

    Offshoring, Low-skilled Immigration and Labor Market Polarization

  • conference

    May 2014

    Federal Reserve Board Conference on "Spillovers fromAccommodative Monetary Policies since the GFC," Washington, DC

    International Financial Spillovers to Emerging Market Economies: How Important Are Economic Fundamentals?

  • conference

    December 2013

    European Comission Conference on "Current Account Imbalances and Financial Integration," Brussels

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

  • conference

    January 2013

    AEA/ASSA, San Diego

    Offshore Production and Business Cycle Dynamics with Heterogeneous Firms

  • conference

    Sep, Oct 2012

    Federal Reserve Board, Euro Area Crisis Workshop; European Central Bank, Second Conference of the Macro-prudential Research Network, Frankfurt

    Liquidity Shocks, Dollar Funding Costs, and the Bank Lending Channel during the European Sovereign Crisis

  • conference

    January 2012

    AEA/ASSA, Chicago

    Immigration, Remittances and Business Cycles

  • conference

    July, September 2010

    Federal Reserve Board, Workshop on the Global Financial Crisis; European Trade Study Group, University of Lausanne

    Trade Credit and International Trade during the 2008-09 Global Financial Crisis

  • seminar

    2010

    University of Delaware; Econometric Society World Congress, Shanghai; LACEA, Medellin

    Immigration, Remittances and Business Cycles

  • conference

    July, November 2009

    NBER Summer Institute, International Finance and Macroeconomics; NEUDC, Tufts University

    Immigration, Remittances and Business Cycles

  • conference

    2009

    IEFS/ASSA, San Francisco; SCIEA, Dalls Fed, San Antonio, TX

    Offshore Production and Business Cycle Dynamics with Heterogeneous Firms

Awards
  • 2009

    Boston College

    Research Excellence Award

  • 2008

    Federal Reserve Bank of Atlanta

    Dissertation Fellowship

Conference Organization

  • 2017, 2018, 2019

    IBEFA/ASSA, WEAI

    Scientific Committee

  • 2017, 2018, 2019

    ERMAS

    Scientific Committee

  • 2019

    Financial Management Association

    Scientific Committee

Referee
  • Economic Letters
  • European Economic Review
  • IMF Economic Review
  • International Economic Review
  • International Finance
  • International Journal of Central Banking
  • International Review of Economics and Finance
  • Journal of Development Economics
  • Journal of Economic Dynamics and Control
  • Journal of European Economic Association
  • Journal of International Economics
  • Journal of International Money and Finance
  • Journal of International Trade and Economic Development
  • Journal of Macroeconomics
  • Journal of Monetary Economics
  • Journal of Money, Credit and Banking
  • Macroeconomic Dynamics
Professional Affiliation
  • American Economic Association
  • Econometric Society
  • International Banking, Economics and Finance Association
  • IZA - Institute of Labor Economics
Last update: September 23, 2019