Agustín Carstens
Agustín Carstens | |
---|---|
Ernesto Cordero | |
Personal details | |
Born | Mexico City, Mexico | 9 June 1958
Height | 180 cm (5 ft 11 in) |
Spouse | Catherine Mansell |
Education | Mexico Autonomous Institute of Technology (BA) University of Chicago (MA, PhD) |
Agustín Guillermo Carstens Carstens (born 9 June 1958 in
Early years
Carstens graduated with a bachelor's degree in economics from the
He is married to Catherine Mansell, an American academic, writer and economist who has authored several books on finance and on literary fiction and nonfiction under the pen name C. M. Mayo.[8]
In the mid-1980s Carstens returned to Mexico and rejoined the Bank of Mexico. Before turning thirty he was appointed treasurer, effectively taking charge of the national reserves. Rising through the ranks in the early 1990s, he was appointed chief of staff of chairman
International Monetary Fund
![](http://upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Bonilla_Carstens_Sosa.jpg/220px-Bonilla_Carstens_Sosa.jpg)
After many years at the Bank of Mexico, Carstens took a position at the
Carstens left the IMF to coordinate the economic policy program of
Secretary of Finance
On 26 March 2007, Carstens was additionally appointed new chairman of the joint World Bank/IMF Development Committee, a position customarily occupied by a developing country finance minister.[11]
As secretary, Carstens took the unconventional decision to hedge Mexico's oil earnings for 2009 against possible price falls, leading to an $8 billion profit for the country.[12]
In the aftermath of the 2007 popular protests against rising food prices, Carstens regarded high food prices as a positive driver for investment in agriculture.[citation needed]
Bank of Mexico
Carstens was nominated to the
Economic views
He identifies five characteristics of
- Business cycles in emerging economies are strongly tied to those in industrialized nations.
- Cycles in emerging economies are more volatile
- Volatility of emerging economies can be affected by additional factors that don't affect industrialized economies, such as price fluctuations
- Rapid capital outflows made possible under corporate globalization can have severely harmful effects on emerging economies
- Emerging economies are subject to the problems associated with exchange-rateregimes
Carstens claims that the solution to these problems is for emerging nations to:[15]
- Adopt more open trade and investment regimes
- Allow interest rates
- Ensure that their banks are robust enough to handle severe macroeconomicchanges
- Enact labor marketsand reduced dependence on foreign savings
References
- ^ a b c "Agustín Carstens: Biographical Information". International Monetary Fund. 15 May 2007. Retrieved 2 December 2008.
- ^ a b Rojas, Luis; Grebler, Dan & Craft, Diane (15 December 2009). "Mexico's Senate confirms Carstens as cenbank head". Forbes. Reuters. Retrieved 15 December 2009.[dead link]
- ^ "IMF shortlists Christine Lagarde and Agustin Carstens". BBC News. 13 June 2011.
- ^ "Bank of Mexico's Agustín Carstens Leaving to Lead Bank for International Settlements". The Wall Street Journal. 1 December 2016. Retrieved 2 December 2016.
- ^ "Agustín Carstens renuncia al Banco de México". El Universal (in Spanish). 1 December 2016. Retrieved 2 December 2016.
- ^ Cárdenas Estandía, Rogelio (17 October 2006). "Entrevista a Agustín Carstens" (in Spanish). El Financiero. Archived from the original on 27 September 2007. Retrieved 2 December 2008.
- ^ Carstens, Agustín (September 2005). "IMF Conference in Honor of Michael Mussa: MussaFest – Opening Remarks". IMF Staff Papers. International Monetary Fund. pp. 1–5. Archived from the original on 2 February 2009. Retrieved 10 June 2011.
I took several courses with Mike, and he was generous enough to direct my thesis dissertation in the mid-1980s.
- ^ "Catherine Mansell, el apoyo de Carstens". El Universal (in Spanish). 16 October 2006. Retrieved 16 October 2006.
- ^ Carstens, Agustín; Gil Díaz, Francisco. "Some Hypotheses RelatedTo The Mexican 1994–95 Crisis" (PDF). Bank of Mexico. Retrieved 5 March 2012.
- ^ "Mexico's Calderon names Carstens finance minister". Reuters. 21 November 2006. Archived from the original on 2 January 2007. Retrieved 21 November 2006.
- ^ "Mexico's Minister of Finance Agustin Carstens Becomes Development Committee chairman". World Bank. 27 March 2007. Archived from the original on 22 July 2012. Retrieved 23 September 2009.
- ^ Blas, Javier (7 September 2009). "Mexico to enjoy $8bn windfall from oil bet". Financial Times. Retrieved 23 September 2009.
- ^ Gould, Jens; Martínez, Andrés (9 December 2009). "Calderon Nominates Carstens for Mexico Central Bank". Bloomberg. Retrieved 9 December 2009.
- ^ Malkin, Elisabeth (9 December 2009). "New Chief Nominated for Mexico's Central Bank". The New York Times. Retrieved 9 December 2009.
- ^ ISBN 978-0-8247-0578-7.
External links
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