Graciela L. Kaminsky is professor of economics and international affairs at George Washington University in Washington, D.C., and Research Associate at the National Bureau of Economic Research. She previously held positions as assistant professor at the University of California, San Diego and staff economist at the Board of Governors of the Federal Reserve System. She has been a Visiting Scholar at numerous government organizations, including the Bank of Japan, the Bank of Spain, the Federal Reserve Bank of New York, the Hong Kong Monetary, and the Monetary Authority of Singapore. She also has been a consultant to international institutions, including the Inter-American Development Bank, the International Monetary Fund, and the World Bank. She holds a Ph.D. in economics from the Massachusetts Institute of Technology. Prof. Kaminsky has published widely in leading academic journals, including the American Economic Review, the Journal of Development Economics, the Journal of International Economics, the Journal of Monetary Economics, and the Journal of Economic Perspectives. Prof. Kaminsky’s research covers a variety of topics in macroeconomics and international finance, including financial globalization, mutual fund’s investment strategy, currency and banking crises, contagion, credibility, and inflation stabilization policies.
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In the last couple of months, Greece has once again become the center of attention of politicians, academics, and the general public. The debate has, for a large part, focused on Greece’s fiscal deficit as if it were just a self-inflicted Greek problem. But is it?